DCIT - CC - 6(3), MUMBAI V. HANSA KAILASH AGARWAL, MUMBAI

ITA 5621/MUM/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8609 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2015-2016
• Appeal Filed On: 04-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GURBINDER SINGH
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH H, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA NO.5621/M/2018 ASSESSMENT YEAR: 2015-16 DCIT-CC-6(3), ROOM NO.1926, 19 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI 400021 VS. MS. HANSA KAILASH AGARWAL, 13 TH -18 TH FLOOR, NISHIKA TERRACES, KHAN ABDUL GAFAR KHAN MARG, WORLI SEA ACE, MUMBAI-400 030 PAN: AAIPA0707C (APPELLANT) (R ESPONDENT) CO NO.194/M/2019 (ARISING OUT OF ITA NO.5621/M/2018) ASSESSMENT YEAR: 2015-16 MS. HANSA KAILASH AGARWAL, 13 TH -18 TH FLOOR, NISHIKA TERRACES, KHAN ABDUL GAFAR KHAN MARG, WORLI SEA ACE, MUMBAI 400 030 PAN: AAIPA0707C VS. DCIT-CC-6(3), ROOM NO.1926, 19 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI 400021 (APPELLANT) (R ESPONDENT) PRESENT FOR: ASSESSEE BY : SHRI RAKESH JOSHI, A.R. REVENUE BY : SHRI GURBINDER SINGH, D.R. DATE OF HEARING : 16.06.2021 DATE OF PRONOUNCEMENT : 16.06.2021 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE PRESENT APPEAL BY THE REVENUE AND CROSS OBJECT ION BY THE ASSESSEE HAVE BEEN PREFERRED AGAINST THE ORDER DATED ITA NO.5621/M/2018 & CO NO.194/M/2019 MS. HANSA KAILASH AGARWAL 2 31.07.2018 OF THE COMMISSIONER OF INCOME TAX (APPEA LS) [HEREINAFTER REFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT YEAR 2015-16. ITA NO.5621/M/2018 (REVENUES APPEAL) 2. THE ISSUE RAISED BY THE REVENUE IN GROUND NO. 1 IS AGAINST THE ORDER OF LD. CIT(A) WHEREIN THE LD. CIT(A) HAS DELETED THE ADDITION OF RS.3,31,59,996/- AS MADE BY THE AO ON A CCOUNT OF JEWELLERY FOUND DURING THE COURSE OF SEARCH AT THE PREMISES OF THE ASSESSEE. 3. IN THE 2 ND GROUND, THE REVENUE HAS CHALLENGED THE ORDER OF LD. CIT(A) THAT THE LD. CIT(A) HAS FAILED TO APPREC IATE THAT ASSESSEE HAS CHALLENGED THIS ADDITION BEFORE THE TR IBUNAL DESPITE ADMITTING THE FACT BEFORE LD. CIT(A) THAT I T HAS NOT CHALLENGED THE SUBSTANTIAL ADDITION ON TECHNICAL GR OUND. 4. AFTER HEARING THE RIVAL PARTIES AND PERUSING THE MATERIAL ON RECORD, WE NOTE THAT THIS ADDITION OF RS.3,31,59,99 6/- HAS BEEN ACCEPTED BY THE ASSESSEE IN THE ASSESSMENT OF M/S. NISH DEVELOPERS PVT. LTD. IN A.Y. 2015-16 AND THEREFORE THERE IS MERIT IN THE SUBMISSION OF THE LD. A.R. THAT THE APPEAL O F THE REVENUE BECOMES INFRUCTUOUS AND IT HAS TO BE DISMISSED. 5. THE LD. D.R., ON THE OTHER HAND, FAIRLY SUBMITTE D THAT IF THIS IS ACCEPTED IN THE HANDS OF NISH DEVELOPERS IN A.Y. 2015-16 THEN THE APPEAL OF THE REVENUE MAY KINDLY BE DECIDE D ACCORDINGLY. 6. AFTER HEARING THE RIVAL PARTIES AND PERUSING THE MATERIALS ON RECORDS, WE FIND THAT THIS ADDITION OF RS.3,31,5 9,996/- HAS ITA NO.5621/M/2018 & CO NO.194/M/2019 MS. HANSA KAILASH AGARWAL 3 BEEN ACCEPTED IN THE HANDS OF M/S. NISH DEVELOPERS PVT. LTD. WHICH WAS MADE ON SUBSTANTIVE BASIS AND THEREFORE , PROTECTIVE ADDITION MADE BY THE AO IN THE HANDS OF THE ASSESSE E CAN NOT BE SUSTAINED. THE LD. CIT(A) HAS RIGHTLY PASSED TH E ORDER BY DELETING THE ADDITION IN THE HANDS OF THE ASSESSEE. ACCORDINGLY, WE ARE INCLINED TO DISMISS THE APPEAL OF THE REVENU E. CO NO.194/M/2019 7. LD. COUNSEL OF THE ASSESSEE DID NOT PRESS THE CR OSS OBJECTION AT THE TIME OF HEARING AND ACCORDINGLY TH E SAME IS DISMISSED AS NOT PRESSED. 8. IN THE RESULT, REVENUES APPEAL AS WELL AS ASSES SEES CROSS OBJECTION ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16.06.2021. SD/- SD/- ( RAVISH SOOD) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 16.06.2021. * 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 ORDER DY/ASS TT. REGISTRAR, ITAT, MUMBAI.