SANJAY TRADE CORPORATION, MUMBAI V. ITO 13(3)(1), MUMBAI

ITA 4969/MUM/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3681 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-03-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 16-10-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 02-08-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S C TIWARI
• Keywords: Opportunity of being heard; Principle of natural justice; Commercial expediency
• Section: 143(3)

Judgement Text

E IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO. 8271 /MUM/2011 ( / ASSESSMENT YEAR : 2008-09) ./ I.T.A. NO. 4969 /MUM/2012 ( / ASSESSMENT YEAR : 2009-10) M/S SANJAY TRADE CORPORATION, 407, ADAMJI BLDG., 413, NARSI NATHA STREET, MASJID BUNDER, MUMBAI 400 009. / V. ASST. COMMISSIONER OF INCOME TAX- 13(3), MUMBAI. ./ PAN : AAAFS4078E ( / APPELLANT ) .. ( / RESPONDENT ) ASSESSEE BY SHRI S.C. TIWARI REVENUE BY : SHRI RAKESH RANJAN / DATE OF HEARING : 10-12-2015 / DATE OF PRONOUNCEMENT : 03-03-2016 / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER THESE ARE TWO APPEALS BY THE ASSESSEE FIRM DIRECTE D AGAINST TWO SEPARATE ORDERS OF THE LEARNED COMMISSIONER OF INCO ME TAX (APPEALS)-24, MUMBAI (CIT(A) FOR SHORT) DATED 5-10-2011, FOR TH E ASSESSMENT YEAR 2008- 09 AND ORDER DATED 15-05-2012 FOR THE ASSESSMENT YE AR 2009-10. THE IDENTICAL ISSUE IS INVOLVED IN BOTH THESE APPEALS A ND BOTH THESE APPEALS ARE DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CO NVENIENCE AND BREVITY. WE WOULD FIRST TAKE THE APPEAL IN ITA NO. 8271/MUM/201 1 FOR THE ASSESSMENT YEAR 2008-09 AS THE LEAD APPEAL AND OUR DECISION IN ITA NO. ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 2 8271/MUM/2011 FOR THE ASSESSMENT YEAR 2008-09 SHALL APPLY MUTATIS MUTANDIS TO THE APPEAL IN ITA NO 4969/MUM/2012 FOR THE ASSESSMENT YEAR 2009-10. 2. THE GROUND RAISED BY THE ASSESSEE FIRM IN THE ME MO OF APPEAL FILED WITH THE TRIBUNAL IN ITA NO. 8271/MUM/2011 READS AS UND ER:- 1. THE LEARNED CIT(A) ERRED IN CONFIRMING THE DISA LLOWANCE OF RS.10,85,012/- ON ACCOUNT OF INTEREST. 2. YOUR APPELLANT FURTHER SUBMITS THAT YOUR APPELLANT HA D GIVEN LOAN TO SISTER CONCERN WHICH IS SICK UNIT AND THE RE COVERY OF THE PRINCIPAL AMOUNT IS DOUBTFUL AND AN AS SUCH YOUR APPE LLANT HAS NOT CHARGED ANY INTEREST ON THE LOAN ADVANCED TO SISTER CO NCERN BEING SICK UNIT. 3. YOUR APPELLANT THEREFORE SUBMITS THAT THE ADDITION OF RS.10,85,012/- ON ACCOUNT OF INTEREST BE DELETED. 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSE E FIRM IS DEALER IN DIAL CALIPER, GEAR TOOTH MICROMETER ETC. IT WAS OBSERVED BY THE LEARNED ASSESSING OFFICER (HEREINAFTER CALLED THE A.O.) DURING THE COURSE OF ASSESSMENT PROCEEDINGS U/S 143(3) READ WITH SECTION 143(2) OF INCOME TAX ACT,1961(HEREINAFTER CALLED THE ACT) THAT AN INTE REST FREE ADVANCE OF RS. 4,86,96,890/- HAS BEEN GIVEN BY THE ASSESSEE FIRM T O ITS SISTER CONCERN, WORLD WIDE COMMODITIES PVT. LTD. WHILE THE PARTNERS CAPI TAL OF THE ASSESSEE FIRM IS RS.3,47,32,991/- WHICH IS NOT SUFFICIENT FOR ADVANC ING INTEREST FREE LOAN TO THE AFORE-STATED SISTER CONCERN, HENCE, IT WAS OBSERVED BY THE AO THAT THE SAID ADVANCE HAS BEEN MADE BY THE ASSESSEE FIRM FROM THE BORROWED CAPITAL ON WHICH INTEREST HAS BEEN PAID. AN AMOUNT OF RS. 10,8 5,011/- HAS BEEN CLAIMED AS INTEREST EXPENSE ON THE BORROWED CAPITAL IN THE PROFIT AND LOSS ACCOUNT. THE ASSESSEE FIRM WAS ASKED DURING THE CO URSE OF ASSESSMENT PROCEEDINGS TO EXPLAIN WHY PROPORTIONATE DISALLOWAN CE SHOULD NOT BE MADE ON ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 3 THE SAME AS THE BORROWED CAPITAL HAS BEEN DIVERTED FOR NON BUSINESS PURPOSE. IN REPLY, THE ASSESSEE FIRM EXPLAINED THAT THE LOAN S HAVE BEEN FORWARDED TO THE SISTER CONCERN AND THE INTEREST HAS NOT BEEN CH ARGED BECAUSE THE SAID CONCERN IS A SICK COMPANY. THE ASSESSEE FIRM SUBMI TTED THAT THE LOAN WAS FORWARDED FOR COMMERCIAL EXPEDIENCY OUT OF THE CURR ENT ACCOUNT, ING VYSYA BANK LTD. AND NOT FROM THE OVERDRAFT. THE ASSESSEE FIRM RELIED ON THE JUDGMENT OF HON'BLE BOMBAY HIGH COURT IN THE CASE O F CIT V. BOMBAY SAMACHAR LTD., 74 ITR 723(BOM. HC) AND SUBMITTED TH AT THE INTEREST SHOULD BE ALLOWED AS ALL THE CONDITIONS HAVE BEEN MET AS P ER SECTION 36(1)(III) OF THE ACT. THE A.O. REJECTED THE CONTENTIONS OF THE ASSESSEE F IRM HOLDING THAT ASSESSEE FIRM HAS NOT SHOWN ANY UNSECURED LOAN OR OVER DRAFT FACILITY FROM THE ING VYSYA BANK IN THE DETAILS FILED. THE CAPITAL OF THE ASSESSEE FIRM IS NOT SUFFICIENT TO FORWARD INTEREST FREE LOAN TO THE SIS TER CONCERN AND THE LOAN HAS BEEN FORWARDED FROM THE BORROWED FUNDS. THE AO HELD THAT NO BUSINESS EXPEDIENCY COULD BE ESTABLISHED FROM THE DETAILS FI LED BY THE ASSESSEE FIRM. THE SISTER CONCERN OF THE ASSESSEE FIRM IS NOT DOIN G ANY BUSINESS FOR THE LAST NINE YEARS. THE ASSESSEE FIRMS TOTAL SOURCES OF FU NDS INCLUDING PARTNERS CAPITAL , SECURED LOANS OR UNSECURED LOANS OF THE A SSESSEE FIRM COMES TO RS. 4,56,44,600/- WHILE THE ASSESSEE FIRM HAS ADVANCED LOAN OF RS. 4.86,96,890/. THE ASSESSEE FIRM WAS SPECIFICALLY ASKED TO EXPLAIN THE PURPOSE FOR WHICH ALL THE SECURED AND UNSECURED LOANS HAVE BEEN TAKEN AND WHEN THE SAME HAVE BEEN UTILIZED BUT THE ASSESSEE FIRM COULD NOT ESTAB LISH ANY NEXUS BETWEEN THE INTEREST FREE LOANS ADVANCED AND RECEIVED. IN VIEW OF THE ABOVE, SINCE THE ASSESSEE FIRM COULD NOT ESTABLISH ANY BUSINESS EXPE DIENCY IN FORWARDING INTEREST FREE LOANS TO THE SISTER CONCERN, AND FURT HER, BECAUSE THE CAPITAL BORROWED ON INTEREST HAS BEEN DIVERTED FOR NON BUSI NESS PURPOSE, PROPORTIONATE DISALLOWANCE ON THE INTEREST EXPENSES CLAIMED BY THE ASSESSEE FIRM IS WARRANTED. THE A.O. HELD THAT SINCE THE CON DITIONS LAID DOWN IN SECTION 36(1)(III) OF THE ACT ARE NOT SATISFIED, HE NCE, PROPORTIONATE ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 4 DISALLOWANCE IS HEREBY BEING MADE @ 12%. THE DISALL OWANCE WORKS OUT TO RS.16,75,668/-. SINCE ASSESSEE FIRM HAS DEBITED ONL Y AN AMOUNT OF RS.10,85,012/-, THEREFORE, THE DISALLOWANCE WAS LIM ITED TO RS.10,85,012/- BY THE AO VIDE ASSESSMENT ORDER DATED 28.12.2010 PASSE D U/S 143(3) OF THE ACT. 4.AGGRIEVED BY THE ASSESSMENT ORDER DATED 28.12.201 0 PASSED U/S 143(3) OF THE ACT BY THE AO , THE ASSESSEE FIRM PREFERRED AN APPEAL BEFORE THE CIT(A). 5. BEFORE THE CIT(A), THE ASSESSEE FIRM REITERATED THE SUBMISSION AS WAS MADE BEFORE THE A.O. HOWEVER, THE CIT(A) REJECTED T HE CONTENTIONS RAISED BEFORE HIM AND HELD THAT THE ISSUE IN ASSESSEE FIRM S OWN CASE FOR THE ASSESSMENT YEAR 2007-08 WAS ADJUDICATED BY HIS PRED ECESSOR AND DECIDED AGAINST THE ASSESSEE FIRM. ADMITTEDLY, THE ASSESSE E FIRM HAS ADVANCED INTEREST FREE FUNDS TO ITS SISTER CONCERN WHILE AT THE SAME TIME IT HAD SECURED AND UNSECURED LOANS ON WHICH IT WAS PAYING INTEREST AND CLAIMING IT AS A DEDUCTION. THE CIT(A) HELD THAT THE INTEREST FREE F UNDS WERE ADVANCED TO SISTER CONCERN OF THE ASSESSEE FIRM AND NOT A SUBSIDIARY. THE ASSESSEE FIRM HAS NOT BEEN ABLE TO SHOW THAT THE SAID FUNDS WERE ADVANCED OUT OF COMMERCIAL EXPEDIENCY OR THAT SUCH FUNDS WERE NOT ADVANCED OUT OF INTEREST BEARING LOANS TAKEN BY THE ASSESSEE FIRM. THE CIT(A) RELIED ON THE DECISION OF THE HON'BLE SUPREME COURT IN THE CASE OF S. A. BUILDERS REPORTED IN 288 ITR 1(SC) AND HELD THAT THE ACTION OF THE AO OF DISALLOWING T HE INTEREST IS HELD TO BE JUSTIFIED. THE ASSESSEE FIRM HAS ALSO MADE A WITHOU T PREJUDICE SUBMISSION WHEREIN IT HAS BEEN CONTENDED THAT THE OPENING CAPI TAL ACCOUNT OF THE PARTNER WAS RS. 3,75,03,204/- AND THE ASSESSEE FIRM HAD GIV EN INTEREST FREE LOANS OF RS. 4,86,96,890/- TO THE SISTER CONCERN, HENCE, THE MAXIMUM INTEREST THAT COULD BE DISALLOWED WOULD BE THE DIFFERENCE ON LOAN AND THE PARTNER'S CAPITAL . THE CIT(A) HELD THAT AO HAS WORKED OUT THE DISALLOW ANCE EXACTLY IN THE WAY THE ASSESSEE FIRM HAS SUBMITTED . THE INTEREST @12% WORKED OUT TO RS.16,75,668/- WHICH WAS RESTRICTED TO THE ACTUAL C LAIM OF THE EXPENDITURE OF ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 5 INTEREST OF RS.10,85,012/- VIDE CIT(A) APPEALS ORDE RS DATED 05-10-2011 WHEREBY THE APPEAL OF THE ASSESSEE FIRM WAS DISMISS ED. 6. AGGRIEVED BY THE ORDERS OF THE CIT(A) DATED 05-1 0-2011, THE ASSESSEE FIRM IS IN APPEAL BEFORE THE TRIBUNAL. 7. THE LD. COUNSEL FOR THE ASSESSEE FIRM CONTENDED THAT THE ASSESSEE FIRM HAS ADVANCED LOAN TO THE SISTER CONCERN M/S WORLD W IDE COMMODITIES PVT. LTD. WHICH HAS BEEN ADVANCED IN THE EARLIER YEARS . THE SAID LOAN AMOUNT IS ADVANCED FROM TIME TO TIME AND ALSO RECEIVED BACK F ROM TIME TO TIME FROM THE SAID SISTER CONCERN. THE LD. COUNSEL FOR THE ASSES SEE FIRM SUBMITTED THAT INTEREST PAID BY THE ASSESSEE FIRM ON THE BORROWED FUNDS HAS BEEN DISALLOWED BY THE REVENUE WHICH WAS CONFIRMED BY THE CIT(A). THE LD. COUNSEL FOR THE ASSESSEE FIRM SUBMITTED THAT THE LOAN WAS ADVANCED TO THE AFORE-STATED SISTER CONCERN BASED UPON THE COMMERCIAL EXPEDIENCY AND IN TEREST WAS CHARGED IN THE FINANCIAL YEAR 2000-01 WHICH WAS LATER ON REVER SED IN THE FINANCIAL YEAR 2003-04 AS THE SAID SISTER CONCERN HAS BECOME SICK AND IS NOT IN A POSITION TO PAY THE INTEREST. THE LD. COUNSEL FOR THE ASSES SEE FIRM SUBMITTED THAT EVEN THE AMOUNT WHICH HAS BEEN LENT BY THE ASSESSEE FIRM HAS BECOME DOUBTFUL AND BASED UPON THE COMMERCIAL EXPEDIENCY, NO INTERE ST IS CHARGED FROM THE SAID SISTER CONCERN AS THE PRINCIPAL ITSELF IS DOUB TFUL. THE ASSESSEE FIRM RELIED UPON THE DECISION OF HONBLE BOMBAY HIGH COURT IN T HE CASE OF CIT V. SHIVSAGAR ESTATES (AOP), (1993) 204 ITR 0001(BOM. H C) AND ALSO THE CIT V. BOMBAY SAMACHAR LTD., [1969] 74 ITR 0723(BOM.HC). T HE LD. COUNSEL SUBMITTED THAT NO AMOUNT OF BORROWED FUNDS WERE ADV ANCED TO THE SISTER CONCERN. THE LD. COUNSEL DREW OUR ATTENTION TO THE BALANCE SHEET OF THE ASSESSEE FIRM WHEREBY THE ASSESSEE FIRMS PARTNER C APITAL ACCOUNT AS ON 31 ST MARCH, 2008 SHOWS AS RS. 34,732,991.11 AND THE AMOU NT WHICH HAS BEEN ADVANCED TO SISTER CONCERN STOOD AT RS. 4,86,96,890 .00. THE LD. COUNSEL FOR THE ASSESSEE FIRM ALSO DREW OUR ATTENTION TO THE BI FURCATION AND DETAILS OF THE ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 6 INTEREST EXPENDITURE INCURRED BY THE ASSESSEE FIRM AND SUBMITTED THAT ASSESSEE FIRM HAS PAID INTEREST ON CAR LOANS AND OT HER INTEREST WHICH HAS NO CONNECTION WITH THE AMOUNT ADVANCED BY THE ASSESSEE FIRM TO THE AFORE-STATED SISTER CONCERN. 8. THE LD. D.R. SUBMITTED THAT THE CIT(A) IN THE PR ECEDING ASSESSMENT YEAR 2007-08 ALSO REJECTED THE CONTENTIONS OF THE ASSESS EE FIRM AND AUTHORITIES BELOW HAS RIGHTLY DISALLOWED THE CLAIM OF THE INTER EST EXPENSES WITH RESPECT TO THE BORROWED CAPITAL AS ASSESSEE FIRM HAS ADVANCED INTEREST FREE LOAN TO THE SISTER CONCERN, WHICH IS NOT A SUBSIDIARY COMPANY. THE LD. DR RELIED UPON THE DECISION OF THE HONBLE SUPREME COURT IN THE CA SE OF S. A. BUILDERS REPORTED IN 288 ITR 1(SC), AND CONTENDED THAT THERE IS NO COMMERCIAL EXPEDIENCY IN GRANTING THE AFORE-STATED LOANS TO S ISTER CONCERN. 9. WE HAVE CONSIDERED THE RIVAL CONTENTION AND ALSO PERUSED THE MATERIAL ON RECORD INCLUDING CASE LAWS RELIED UPON. WE HAVE OBSERVED THAT THE ASSESSEE FIRM HAS ADVANCED AN AMOUNT OF RS. 4,86,96 ,890/- TO ITS SISTER CONCERN WORLD WIDE COMMODITIES PVT. LTD. FREE OF IN TEREST. THERE IS A LOAN ACCOUNT WITH THE SAID SISTER CONCERN WHEREBY LOAN PAYMENTS HAVE BEEN MADE FROM TIME TO TIME BY THE ASSESSEE FIRM TO THE SAID SISTER CONCERN AND THE LOAN SO GRANTED WERE ALSO RECEIVED BACK PARTLY FROM THE SAID SISTER CONCERN FROM TIME TO TIME. WE HAVE OBSERVED THAT APART FROM THE SE TO AND FRO MOVEMENT OF FUNDS BETWEEN THE ASSESSEE FIRM AND THE SAID SISTER CONCERN, THERE IS NO BUSINESS TRANSACTION ENTERED BY THE ASSESSEE FIRM P ER-SE WITH THE SAID SISTER CONCERN EXCEPT MOVEMENT OF FUNDS WHICH IS OBSERVED BY US FROM THE LOAN ACCOUNT OF THE ASSESSEE FIRM WITH THE SAID SISTER C ONCERN FROM 01-04-2000 TO 31-03-2009 PLACED IN THE PAPER BOOK FILED WITH THE TRIBUNAL AT PAGE 1-15. NO BUSINESS COMMERCIAL EXPEDIENCY HAS BEEN SHOWN BY TH E ASSESSEE FIRM FOR GRANT OF THE SAID AMOUNT OF LOAN. THE ASSESSEE FIRM HAS CHARGED INTEREST FROM SISTER CONCERN ON THE LOANS TO SISTER CONCERN IN TH E FINANCIAL YEAR 2000-01 ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 7 ONLY WHICH WAS ALSO REVERSED IN FINANCIAL YEAR 2003 -04 BUT STILL THE ASSESSEE FIRM CONTINUED TO GRANT FURTHER LOANS TO THE SAID S ISTER CONCERN. THE ASSESSEE FIRM HAS GIVEN INTEREST FREE ADVANCE OF RS. 4,86,96 ,890/- WHEREAS THE ASSESSEES FIRM CAPITAL IS 3,47,32,991/-. NO INTERE ST HAS BEEN CHARGED BY THE ASSESSEE FIRM FROM THE SAID SISTER CONCERN. THE ASS ESSEE FIRM HAS NOT BEEN ABLE TO SHOW THAT THE LOAN AMOUNT HAS BEEN ADVANCED BY THE ASSESSEE FIRM FROM THE PARTNERS CAPITAL ACCOUNT. THE CASE LAWS R ELIED UPON BY THE ASSESSEE FIRM ARE CLEARLY DISTINGUISHABLE AS IN THE INSTANT CASE, THE ASSESSEE FIRM IS NOT ABLE TO DEMONSTRATE THAT THE SAID LOANS WERE GRANTE D FOR BUSINESS OF THE ASSESSEE FIRM DUE TO COMMERCIAL EXPEDIENCY. HOWEVER , THE ASSESSEE FIRM HAS BROUGHT ON RECORD THAT THE TOTAL INTEREST AMOUNT PA ID BY THE ASSESSEE FIRM IS RS. 10,85,011/- WHICH INCLUDE THE INTEREST PAID FOR CAR LOAN FOR WHICH THERE IS A SPECIFIC AND DEDICATED BORROWINGS FOR BUYING A CA R. THE ASSESSEE FIRM HAS TAKEN A PLEA THAT THE SISTER CONCERN HAS BECOME A S ICK COMPANY , HOWEVER, NO SUCH EVIDENCE/COGENT MATERIAL TO THIS EFFECT HAS BE EN BROUGHT ON RECORD. IN OUR CONSIDERED VIEW AND IN THE INTEREST OF JUSTICE, THE MATTER NEEDS TO BE SET ASIDE TO THE FILE OF A.O. FOR RE-DETERMINATION OF T HE ISSUE DE-NOVO AFTER CONSIDERING THE COGENT MATERIAL/EVIDENCES OF THE AS SESSEE FIRM TO BE BROUGHT ON RECORD BY THE AO TO PROVE ITS CONTENTIONS THAT T HE INTEREST FREE FUNDS HAVE BEEN ADVANCED BY THE ASSESSEE FIRM TO THE SISTER CO NCERN OF THE ASSESSEE FIRM AND TO THAT EXTENT THE ASSESSEE FIRM WILL BE ENTITL ED FOR RELIEF. FURTHER, THE A.O. SHALL ALSO CONSIDER THE PLEA OF THE ASSESSEE F IRM THAT THE INTEREST HAVE BEEN PAID ON SPECIFIC AND DEDICATED BORROWINGS SUCH AS FOR ACQUIRING CAR ETC. ON WHICH IN OUR CONSIDERED VIEW, NO DISALLOWANCE OF INTEREST PAID ON DEDICATED AND SPECIFIC BORROWINGS IS WARRANTED. NEE DLESS TO SAY THAT THE AO SHALL GIVE PROPER AND ADEQUATE OPPORTUNITY OF BEING HEARD IN ACCORDANCE WITH PRINCIPLES OF NATURAL JUSTICE IN ACCORDANCE WITH LA W. WE ORDER ACCORDINGLY. ITA NO. 4969/MUM/2012 FOR THE ASSESSMENT YEAR 2009- 10 ITA 8271/MUM/2011 & ITA 4969/MUM/ 2012 8 10. SINCE IDENTICAL ISSUE IS INVOLVED IN THIS APPEA L ALSO, OUR DECISION IN ITA NO. 8271/MUM/2011 FOR THE ASSESSMENT YEAR 2008-09 S HALL APPLY MUTATIS MUTANDIS TO THE APPEAL IN ITA NO 4969/MUM/2012 FOR THE ASSESSMENT YEAR 2009-10. 11. IN THE RESULT, THE APPEALS FILED BY THE ASSESSE E FIRM IN ITA N0. 8271/MUM/2011 FOR THE ASSESSMENT YEAR 2008-09 AND I TA NO. 4969/MUM/2012 FOR THE ASSESSMENT YEAR 2009-10 ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 3 RD MARCH, 2016. # $% &' 03-03-2016 ( ) SD/- SD/- (SAKTIJIT DEY) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER $ MUMBAI ; & DATED 03-03-2016 [ .9../ R.K. R.K. R.K. R.K. , EX. SR. PS !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. : ( ) / THE CIT(A)- CONCERNED, MUMBAI 4. : / CIT- CONCERNED, MUMBAI 5. =>( 99?@ , ?@ , $ / DR, ITAT, MUMBAI E BENCH 6. (BC D / GUARD FILE. / BY ORDER, = 9 //TRUE COPY// / ( DY./ASSTT. REGISTRAR) , $ / ITAT, MUMBAI