NANDLAL L. KODNANEY, MUMBAI V. ITO 26(2)(4), MUMBAI

ITA 4924/MUM/2014

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 7032 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 10 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-06-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 06-05-2015
• Assessment Year: 1992-1993
• Appeal Filed On: 28-07-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUMAN KUMAR
• Keywords: Unexplained cash credit
• Section: 143(3); 69

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH B, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA NO.4924/M/2014 ASSESSMENT YEAR: 1992-93 ITA NO.4925/M/2014 ASSESSMENT YEAR: 1993-94 MR. NANDLAL L. KODNANEY, 1007 NATASHA TOWER, CTS-1310, ANDHERI (W), MUMBAI 400 061 PAN: AAHPK4363M VS. ITO 26(2)(4), K.G. MITTAL AYURVEDIC HOSPITAL BUILDING, 6 TH FLOOR, CHARNI ROAD, MUMBAI - 400002 (APPELLANT) (RE SPONDENT) PRESENT FOR: ASSESSEE BY : NONE REVENUE BY : SHRI SUMAN KUMAR, D.R. DATE OF HEARING : 28.05.2018 DATE OF PRONOUNCEMENT : 04.06.2018 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE ABOVE TITLED APPEALS HAVE BEEN PREFERRED BY TH E ASSESSEE AGAINST THE CONSOLIDATED ORDER DATED 13.05 .2014 OF THE COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFT ER REFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT Y EARS 1992- 93 & 1993-94 WHICH HAVE ARISEN OUT OF THE ASSESSMEN TS FRAMED BY THE LD. AO U/S 143(3) OF THE INCOME TAX ACT [HEREINAFTER REFERRED TO AS THE ACT]. 2. THE ISSUE RAISED IN ITA NO.4924/M/2014 AND ITA NO.4925/M/2014 IS AGAINST THE CONFIRMATION OF ADDIT ION OF ITA NO.4924/M/2014 & ITA NO.4925/M/2014 MR. NANDLAL L. KODNANEY 2 RS.1,54,500/- & RS.4,36,685/- RESPECTIVELY BY LD. CIT (A) AS MADE BY THE AO UNDER SECTION 69 OF THE ACT. 3. AT THE OUTSET, WE WOULD LIKE TO MENTION THAT NEIT HER ASSESSEE NOR HIS AUTHORISED REPRESENTATIVE WAS PRES ENT DURING THE HEARING WHEN THE CASE WAS CALLED FOR HEARING. M OREOVER NO APPLICATION SEEKING ADJOURNMENT WAS FILED BY THE AS SESSEE. WE OBSERVE FROM THE RECORDS THAT THE ASSESSEE SOUGH T ADJOURNMENTS ON VARIOUS DATES RIGHT FROM 09.09.2014 TO 07.03.2018 FOR AT LEAST 9 TIMES AND THE CASE WAS FI NALLY POSTED FOR 28.05.2018. EVEN ON THE SAID DATE NONE A PPEARED BEFORE US AND NOW WE ARE NOT LEFT WITH ANY OPTION B UT TO DISPOSE OFF THESE APPEALS AFTER HEARING THE LD. D.R . AND AFTER CONSIDERING THE MERITS. 4. THE FACTS IN BRIEF ARE THAT THE CO-ORDINATE BENC H OF THE TRIBUNAL VIDE ORDER IN MA NOS.18 & 19/2007, CO NOS.22 0 & 232/M/2004 DATED 07.03.2007 RESTORED THE MATTER TO THE FILE OF THE AO WITH A DIRECTION TO DECIDE THE ISSUE IN T HE LIGHT OF MATERIAL ON RECORD WITH THE AO AS WELL AS BEFORE TH E LD. CIT(A) INCLUDING ANY OTHER EVIDENCES WHICH THE ASS ESSEE MAY FILE DURING THE COURSE OF HEARING BEFORE THE AO AND FURTHER DIRECTING THE AO TO GIVE FINDING BASED ON THE SAID MATERIAL. ACCORDINGLY, THE ASSESSEE WAS GRANTED OPPORTUNITY B Y THE AO WHICH WAS AVAILED BY THE ASSESSEE BY FILING WRITTEN SUBMISSIONS DATED 09.01.2010 AND 22.02.2010. THE AO O N THE BASIS OF THREE BANK ACCOUNTS FILED BY THE ASSES SEE OBSERVED THAT THERE WERE CREDITS TO THE EXTENT OF RS.1,54,500/- IN A.Y. 1992-93 & RS.4,36,685/- IN A.Y. 19 93- ITA NO.4924/M/2014 & ITA NO.4925/M/2014 MR. NANDLAL L. KODNANEY 3 94 IN THE SAID BANK ACCOUNTS FOR WHICH NO DOCUMENTA RY EVIDENCES CORROBORATING THE SAID CREDITS WERE FILED BY THE ASSESSEE AND FINALLY THE AO ADDED THE SAME TO THE I NCOME OF THE ASSESSEE AS UNEXPLAINED CREDITS. THE LD. CIT(A) ALSO DISMISSED THE APPEAL OF THE ASSESSEE AFTER CALLING REMAND REPORT FROM THE AO AND AFTER CONSIDERING THE SUBMIS SIONS AND CONTENTIONS OF THE ASSESSEE. A PERUSAL OF APPELLAT E ORDER BY THE LD. CIT(A) REVEALED THAT THE SAME WAS PASSED AF TER CONSIDERING THE MERITS OF THE CASES. FURTHER, NO MA TERIAL HAS BEEN BROUGHT BEFORE US TO CONTROVERT THE FINDINGS AS GIVEN BY THE LD. CIT(A). WE ARE, THEREFORE, INCLINED NOT TO INT ERFERE IN THE ORDER OF LD. CIT(A) WHICH OTHERWISE APPEARED TO BE A REASONED ORDER PASSED AFTER TAKING INTO ACCOUNT ALL THE MATERIAL FACTS OF THE CASE AND ACCORDINGLY, THE APP EALS OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 04.06.2018. SD/- SD/- (PAWAN SINGH) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 04.06.2018. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORD ER DY /ASSTT. REGISTRAR, ITAT, MUMBAI.