HARSHA RAJAN MEHROTRA, MUMBAI V. ASSISTANT COMMISSIONER OF INCOME TAX 31(1), MUMBAI

ITA 5854/MUM/2017

• Counselvise Citation: [2022] 107 COUNSELVISE.COM (IT) 0540 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 10 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-08-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2012-2013
• Appeal Filed On: 12-09-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Sale consideration of property below Jantri Value
• Section: 43B; 50C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “H”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No.5854/M/2017 Assessment Year: 2012-13 Mr. Harsha Rajan Mehrotra, 18/63, Sliver Sands, Off Link Road, Oshiwara, Jogeshwari West, Mumbai – 400 012 PAN: AFLPM1093B Vs. Asst. Commissioner of Income Tax 31(1), Pratyakshakar Bhavan, Bandra Kurla Complex, Mumbai – 400 051 (Appellant) (Respondent) Present for: Assessee by : None Revenue by : Shri Tejinder Pal Singh, D.R. Date of Hearing : 12 . 07 . 2022 Date of Pronouncement : 04 . 08 . 2022 O R D E R Per : Kuldip Singh, Judicial Member: HEARD Assessee Mr. Harsha Rajan Mehrotra by filing the present appeal sought to set aside the impugned order dated 28.06.2017 passed by Commissioner of Income Tax (Appeals) [CIT(A)]-42, Mumbai challenging the disallowance of Rs.2,55,110/- claimed by the assessee as business expenditure; making the addition of Rs.5,39,000/- under section 50C of the Income Tax Act, 1961 (for short ‘the Act’) making addition for Rs.47,78,287/- for long term capital gain; making disallowance of Rs.19,395/- claimed by the ITA No.5854/M/2017 Mr. Harsha Rajan Mehrotra 2 assessee on account of car insurance and making disallowance of Rs.45,113/- claimed by the assessee on account of service tax under section 43B of the Act. 2. However, at the very outset, it is brought to our notice that on 15.03.2022 assessee filed an application through its Chartered Accountant namely Mr. Lalit Munoyat stating therein that the issues raised in the present appeal stood settled as per Vivad Se Vishwas Scheme (VSVS) and assessee be allowed to withdraw the present appeal. 3. Keeping in view the application moved by the assessee present appeal filed by the assessee is allowed to be withdrawn claimed to have been settled under VSVS. However, in case of any technical reasons assessee is at liberty to get the present appeal restored by moving an application before the Tribunal. Order pronounced in the open court on 04.08.2022. Sd/- Sd/- (GAGAN GOYAL) (KULDIP SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated: 04.08.2022. * Kishore, Sr. P.S. Copy to: The Appellant The Respondent The CIT, Concerned, Mumbai The CIT (A) Concerned, Mumbai The DR Concerned Bench ITA No.5854/M/2017 Mr. Harsha Rajan Mehrotra 3 //True Copy// By Order Dy/Asstt. Registrar, ITAT, Mumbai.