INCOME TAX OFFICER(INTERNATIONAL TAXATION)-3(1)(1), MUMBAI V. SHANTI PRAKASH M. MEDIA, MUMBAI

ITA 6461/MUM/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 0502 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 02-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N HEMLATHA
• Assessee Lawyers: NIRAJ PUNMIYA
• Keywords: Tax effect; Onus to prove
• Section: 69C; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC, MUMBAI BEFORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA NO. 6461/MUM/2017 (ASSESSMENT YEAR 2011-12) THE INCOME TAX OFFICER (INTERNATIONAL TAXATION)-3(1)(1), ROOM NO.1628, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI 400021 ..... APPELLANT VS. SHRI SHANTI PRAKASH M. KEDIA, DHEERAJ UPHAR, VASDANT VALLEY ROAD, DINDOSHI, MALAD, MUMBAI 400 097 PAN: AA CPK 7962R ...... RESPONDENT APPELLANT BY : MS.N.HEMLATHA RESPONDENT BY : SHRI NIRAJ PUNMIY A DATE OF HEARING : 29/01/2018 DATE OF PRONOUNCEMENT : 31/01/2018 ORDER PER G.S.PANNU,A.M: THE CAPTIONED APPEAL FILED BY THE REVENUE PERTAIN ING TO ASSESSMENT YEAR 2011-12 IS DIRECTED AGAINST AN ORDER PASSED BY THE CIT(A) -57, MUMBAI DATED 22/08/2017, WHICH IN TURN ARISES OUT OF AN O RDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) R.W.S. 147 O F THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) DATED 21.03/2016. 2. IN THIS APPEAL, REVENUE HAS RAISED THE FOLLOWIN G GROUNDS OF APPEAL:- 2 ITA NO. 6461/MUM/2017 (ASSESSMENT YEAR 2011-12) 1. 'WHETHER IN FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD CIT(A) ERRED IN DELETING THE ADDITION MADE ON ACCOUNT OF INCOME EAR NED FROM UNDISCLOSED SOURCES IGNORING THE DETAILED REPORT OF INVESTIGATION WING WHICH IS DULY INCORPORATED BY ASSESSING OFFICER IN ITS ORDER.' 2. 'WHETHER IN FACTS AND CIRCUMSTANCES OF THE CA SE AND IN LAW THE LD CIT(A) ERRED IN DELETING THE ADDITION MADE ON ACCOUNT OF INCOME EAR NED FROM UNDISCLOSED SOURCE DESPITE THE FACT THAT ONUS TO PROVE GENUINENESS, NA TURE & SOURCE OF THE CREDIT ENTRIES LIES ON ASSESSEE, WHICH ASSESSEE FAILED TO DO DURIN G THE COURSE OF ASSESSMENT PROCEEDINGS'. 3. 'WHETHER IN FACTS AND CIRCUMSTANCES OF TH E CASE AND IN LAW, THE LD. CIT(A) ERRED IN TAKING A VIEW THAT THE ADDITION WAS MADE U /S 69C OF THE I.T ACT, 1961 WHEREAS THE ASSESSING OFFICER HAS NOT MADE THE ADDI TION U/S 69C OF THE IT ACT, 1961'. 4.. ' THE APPELLANT PRAYS THAT THE ORDER OF THE LD.CIT(A) ON THE ABOVE GROUND(S) BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE R ESTORED.' 3. AT THE OUTSET, IT WAS SUBMITTED BY LD. REPRESEN TATIVE FOR THE ASSESSEE THAT THE TAX EFFECT INVOLVED IN THE APPEAL OF THE REVENUE IS LESS THAN RS.10.00 LACS, AND THE SAME HAS BEEN ACCEPTED BY THE LD. DEP ARTMENTAL REPRESENTATIVE. THE CBDT VIDE CIRCULAR NO.21/2015 DATED 10/12/2015 HAS REVISED THE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPART MENT BEFORE THE TRIBUNAL RETROSPECTIVELY. SINCE THE TAX EFFECT IN DISPUTE I N THE CAPTIONED APPEAL IS STATED TO BE BELOW THE MONETARY LIMIT OF RS.10.00 L ACS SPECIFIED IN THE CBDT CIRCULAR DATED 10/12/2015 (SUPRA), THE SAME IS DISM ISSED AS NOT MAINTAINABLE. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 31/01/2018. SD/- SD/- (RAVISH SOOD) (G.S. PANNU) JUDICIAL MEMBER ACCOCUNTANT MEMBER MUMBAI, DATED 31/01/2018 VM , SR. PS 3 ITA NO. 6461/MUM/2017 (ASSESSMENT YEAR 2011-12) COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT , 2. THE RESPONDENT. 3. THE CIT(A)- 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI