REENA ROY, MUMBAI V. ITO 21(3)*(4), MUMBAI

ITA 7495/MUM/2012

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2770 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 6 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-07-2016
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 30-11-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 18-12-2012
• Court: TRIBUNAL
• Department Lawyers: A RAMACHANDRAN
• Keywords: Peak credit
• Section: 143(3); 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH , MUMBAI BEFORE SRI MAHAVIR SINGH, J M AND SRI RAMIT KOCHAR , A M ITA NO . 4 5 / R PR /2013 (A.Y.: 2009 - 10 ) THE DY. COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), MAHIMA COMMERCIAL COMPLEX, VYAPAR VIHAR, BILASPUR, CHHATTISGA RH, PIN 495 004 VS. SHRI ASHISH SARKAR, DURGA BHAWAN, TIKRAPARA, BILASPUR, CHHATTISGARH PAN: AVFPS 6735 C APPELLANT .. RESPONDENT C. O. NO.15/RPR/2013 (IN ITA NO .45/RPR/2013 - AY: 2009 - 10) & ITA NO.120/RPR2013 (A.Y.:2009 - 10) SHRI ASHISH SARKAR, DURGA BHAWAN, TIKRAPARA, BILASPUR, CHHATTISGARH VS. THE DY. COMMISSIONER OF INCOME TAX,CIRCLE - 1(1),MAHIMA COMMERCIAL COMPLEX, VYAPAR VIHAR, BILASPUR, CHHATTISGARH, PIN 495 004 PAN: AVFPS 6735 C APPELLANT /CROSS OBJECTOR .. RESPONDENT IN ITA NO .7495/RPR/2 012 AY: 2009 - 10) MRS. REENA ROY, C/O. JAYESH SANGHRAJKA & CO., CHARTERED ACCOUNTANTS, UNIT NO.405, HIND RAJASTHAN CENTRE, D. S. PHALKE ROAD, DADAR (E), MUMBAI 400 014 VS. THE INCOME TAX OFFICER, WARD - 21(3)(4), PRATYAKSHAKAR BHAVAN, BANDRA KURLA COMPLEX , MUMBAI. PAN: AVFPS 6735 C APPELLANT .. RESPONDENT REVENUE BY SHRI A. RAMACHANDRAN, DR ASSESSEE BY SHRI PRAKASH JHUNJHUNWALA, AR DATE OF HEARING 20 - 06 - 2016 DATE OF PRONOUNCEMENT 8/7/2016 O R D E R PER BENCH : THESE TWO APPEALS AND ONE CROSS OBJECTION BY DIFFERENT ASSESSEE , AND ONE APPEAL BY REVENUE , ARE ARISING OUT OF THE DIFF ERENT ORDERS , OF THE CIT ( A) - 32 , MUMBAI IN APPEAL ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 2 NOS .CIT (A) - 32 / ITO - 21(3)(4)/IT 142/2011 - 12 DATED 27 - 09 - 2012 AND CIT (A), BILASPUR IN APPEAL NO. CIT (A)/BSP/A.NO. 218/2011 - 12 DATED 28 - 03 - 2012 . A SSESSMENT IN THE CASE OF SHRI ASHISH SARKAR IN ITA NO.120 /R PR /2013 AND C.O. NO.15/ R PR /2013 , ARISING O UT OF THIS APPEAL , AND DEPARTMENTAL APPEAL IN ITA NO.45/ R PR /2013, WAS FRAMED BY THE ACIT, CIRCLE - 1, (1), BILASPUR FOR ASSESS MENT YEAR 2009 - 10 VIDE HIS ORDER DATED 30 - 12 - 2011 U/S 143(3) OF THE INCOME TAX ACT, 1961 (H EREINAFTER REFERRED TO AS THE ACT). ASSESSMENT IN T HE CASE OF THE SMT . R E ENA ROY IN ITA NO.7495/MUM/2012 WAS FRAMED BY THE ITO, WARD - 21(3) (4), MUMBAI FOR THE ASSE SSMENT YEAR 2009 - 10 VIDE HIS ORDER DATED 30 - 11 - 2011 U/S 143(3) OF THE ACT. 3. THE ONLY COMMON ISSUE IN THESE APPEALS AND THE CROSS OBJECTION IS, WHETHER THE CASH DEPOSITS MADE IN THE SAVING BANK ACCOUNT AMOUNTING TO RS.34.88 LACS IS TO BE ASSESSED IN THE HANDS OF MRS . REENA ROY , THE ASSESSEE IN ITA NO.7495/MUM/2012 OR IN THE HANDS OF SHRI ASHI SH SARKAR, THE ASSESSEE IN ITA NO.120 / RPR /2013. 4 . BRIEFLY STATED FACT S ARE THAT AS PER AIR INFORMATION RECEIVED BY THE DEPARTMENT MRS . R E ENA ROY, SHRI ASHISH SARKA R AND SHRI RAJESH SARKAR ARE HAVING JOINT BA NK ACCOUNT NO.246010100068013 IN AXIS BANK LTD., PO WAI BRANCH, MUMBAI DURING THE FINANCIAL YEAR 2008 - 09 RELEVANT TO THIS ASSESSMENT YEAR 2009 - 10. ACCORDING TO THE REVENUE , THE ASSESSING OFFICER OF MRS . REENA ROY, MUMBAI AND THE ASSESSING OFFICER OF SHRI ASHISH SARKAR , BILASPUR AFTER VERIFICATION OF BANK STATEMENT RECEIVED FROM AXIS BANK LTD. NOTED THAT THE ASSESSEE HAS DEPOSITED IN CASH AMOUNTING TO RS.16.93 LACS, MONEY TRANSFER OF RS.12.95 LACS AND DEPO SITS MADE BY CHEQUES OF RS.5 LA CS. ACCOR DINGLY, THERE WAS TOTAL DEPOSIT OF RS.34.88 LACS IN ALL. THE AO OF MRS . R E ENA ROY MADE ADDITIONS IN THE ABSENCE OF ANY REPRESENTATION FROM THE ASSESSEE. SIMILARLY, THE AO OF SHRI ASHISH SARKAR ALSO MADE ADDITION OF RS.34.88 LA CS BY STATING THAT THE ASSESSEES ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 3 EXPLANATION IS NOT UP TO THE SATISFACTION. AGGRIEVED, BOTH THE ASSESSEES PREFERRED APPEAL BEFORE THE CIT (A). 5 . THE CIT (A) OF MRS . REENA ROY AT MUMBAI CONFIRMED THE ADDITION DESPITE THE FACT THAT SHRI ASHISH SARKAR FIL ED AN AFFIDAVIT BEFORE CIT (A) OF MRS . R E ENA ROY DATED 25 - 04 - 2012 MENTIONING THAT THE ENTIRE DEPOSIT S BELONGS TO SHRI ASHISH SARKAR ONLY AND NOT TO THE ASSESSEE I.E. MRS . REENA ROY. BUT, THE CIT (A) OF SHRI ASHISH SARKAR HAS NOT ACCEPTED THE EXPLANATION OF THE ASSESSEE THAT THE BANK DEPOSITS ARE RECORDED IN THE BOOKS OF ACCOUNT OF THE ASSESSEE, SHRI ASHISH SARKAR WHO IS CARRYING ON THE BUSINESS OF TRADING AND L I AISONING IN ENGINEERING GOODS, SPARE PARTS OF MINES, MECHANICAL AND ELECTRICAL APPLIANCES. THE CIT (A) DELETED THE ADDITION IN THE HANDS OF SHRI ASHISH SARKAR FOR THE REASON THAT THE ADDITION HAS ALREADY BEEN CONFIRMED BY THE CIT (A) I N THE HANDS OF MRS. REENA ROY BEING THE FIRST ACCOUNT HOLDER AND CONFIRMED THE ACTION OF THE AO. 6. NOW, AGAINST T HE DELETION OF ADDITION IN THE HANDS OF SHRI ASHISH SARKAR, REVENUE HAS FILED APPEAL IN ITA NO.45/R PR/2013. THE ASSESSEE ALSO FILED APPEAL IN ITA NO.120/RPR/2013 AGAINST THE ORDER OF THE CIT (A) NOT ACCEPTING THE CONTENTIONS OF THE ASSESSEE ON MERITS THAT THE TRANSACTIONS ARE RECORDED IN THE BOOKS OF ACCOUNT OF THE ASSESSEE. THIS APPEAL IS TIME BARRED BY 63 DAYS AND THE ASSESSEE HAS FILED A CONDONATION PETITION STATING THE REASONS. SIDE BY SIDE, THE ASSESS EE HAS ALSO FILED C.O. NO.15/R PR/2013 ARISING OUT OF REVENUES APP EAL TAKING THE SAME GROUNDS. MRS . REENA ROY HAS FILED APPEAL BEFORE TRIBUNAL IN ITA NO.7495/MUM/2012 AGAINST CONFIRMATION OF ADDITION. 7. SINCE, THE ISSUE IS ONLY ONE I.E. ASSESSMENT OF UNEXPLAINED CASH DEPOSIT IN THE BANK A CCOUNT I.E. JOIN T ACCOUNT OF MRS . REENA ROY, SHRI ASHISH SARKAR AND SHRI RAJESH SARKAR, AMOUNTING TO RS.34.88 LACS, WE ARE DISPOSING OF THE SAME BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 4 8. WE HAVE HEARD THE RIVAL CONTENTIONS AND GONE THROUGH THE FACTS AND CIRCUM STANC ES OF THE CASE. WE FIND THAT MRS . REENA ROY FROM THE VERY BEGINNING HAS TAKEN THE PLEA THAT THESE DEPOSITS DO NOT BELONG TO HER BUT BELONG TO HER BROTHER, SHRI ASHISH SARKAR. ACCORDING TO HER, THIS BANK ACCOUNT EXCLUSIVELY IS UTILIZED BY HER BROTHER, SHRI ASHISH SARKAR AND HE IS TOTALLY RESPONSIBLE FOR THE DEPOSITS MADE IN THE SAME. THE LEARNED COUNSEL FOR THE ASSESSEE REFERRED TO THE AFFIDAVIT OF SHRI ASHISH SARKAR WHICH IS ENCLOSED AT PAGES 3 AND 4 OF THE ASSESSEES PAPER BOOK DATED 18 - 06 - 2013 AND TH E RELEVANT CONTEXT OF THE AFFIDAVIT READS AS UNDER: - I, MR. ASHISH NIRANJAN SARKAR HAVING ADDRESS AT DURGA BHAVAN, TIKRAPARA, MANU CHOWK MAIN ROAD, BILASPUR 495 001, CHHATTISGARH HEREBY SOLEMNLY AFFIRM AND STATE AS UNDER THAT: 1. THE AXIS BANK ACCOUNT (N O.246010100068031: POWAI BRANCH) IN WHICH DEPOSITS ARE REFLECTING IS A JOINT ACCOUNT IN THE NAME OF ASHISH SARKAR, MYSELF, RAJESH SARKAR AND RINA ROY. 2. M/S. SARKAR ESTATE PRIVATE LIMITED IS INCORPORATE4D TO START CONSTRUCTION ACTIVITY IN MUMBAI. 3. MONEY TRANS FER AND CASH DEPOSITS REFLECTING IN THE SAID BANK ACCOUNT ARE MADE BY ME. SUCH CASH DEPOSITS ARE RECEIVED FROM MY LATE FATHER NIRANJAN SARKAR FROM ANCESTRAL PROPERTY AND INCOME FROM AGRICULTURAL LAND AND O PERATIONS THEREON. 4. THE ENTIRE MONEY LYING IN THE A BOVE MENTIONED BANK ACCOUNT BELONGS TO ME AND ME ONLY AND NONE ELSE. NO OTHER PERSON EXCEPT HAS ANY KNOWLEDGE OR CONNECTION OR ANY RIGHT REGARDING THE SAME. ALL THE TRANSACTIONS THEREIN HAVE BEEN DONE BY ME AND ME ONLY AND NONE ELSE. WHATEVER ASSET, PROPER TY, INCOME, EXPENSE, OR LIABILITY OF ANY SORT BELONGS TO ME AND ME ONLY AND NONE ELSE. 5. AFFIDAVIT IS HEREBY MADE TO COMPLY WITH THE INCOME TAX DEPARTMENT AND GOVERNMENT OF INDIA. I, ASHISH SARKAR DO HEREBY VERIFY ON OATH THAT THE CONTENTS OF THE AFFIDAVIT ABOVE ARE TRUE TO MY PERSONAL KNOWLEDGE . THE LEARNED COUNSEL FOR THE ASSESSEE ALSO DREW OUR ATTENTION TO THE REMAND REPORT IN THE CASE OF SHRI ASHISH SARKAR BY THE AO WHEREIN HE HAS ADMITTED THAT THIS DEPOSIT IS OF HIS OWN WHILE EXPLAINING BEFORE THE CI T (A) DURING THE REMAND PROCEEDINGS. THE LEARNED COUNSEL FOR THE ASSESSEE EXPLAINED THAT RELE VANT REMAND REPORT NO.DCIT/CR.1(1)/BSP/REMAND REPORT/12 - 13 BILASPUR DATED 15 - 03 - 2013, WHICH IS ENCLOSED AT PAGES 1 AND 2 OF THE ASSESSEES PAPER BOOK, CLARIFIES TH AT ALL THESE DEPOSITS PERTAIN TO SHRI ASHISH SARKAR AND NO B ODY ELSE. IN VIEW OF THE ABOVE, THE LEARNED COUNSEL ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 5 STATED THAT THE APPEAL OF MRS . REENA ROY SHOULD BE ACCEPTED AND NO ADDITION SHOULD BE MADE. WHEN IT WAS CONFRONTED TO THE LEARNED SR. DR, HE FAIR LY CONCEDED THAT THIS SHOULD BE ADDED ONLY IN THE HANDS OF SHRI ASHISH SA RKAR AND NOT IN THE HANDS OF MRS . REENA ROY. IN TERMS OF THE ABOVE, WE DELETE THIS UNEXPLAINED DEPOSIT IN THE BANK ACCOUNT NO. 246010100068013 MAINTAINED WITH AXIS BANK LTD., MUMBAI A MOUNTING TO RS.34.88 LACS AND ALLOW THE APPEAL OF THE ASSESSEE MRS. REENA ROY. 9. COMING TO THE APPEAL OF THE REVENUE IN ITA NO.45/BLPR/2013 AND THE C. O. NO.15/BLPR/2013 OF THE ASSESSEE , ARISING OUT OF THE SAME, WE FIND THAT THE ASSESSEE BEFORE THE AO HA S TRIED TO EXPLAIN THESE DEPOSITS AND THE AO IN HIS REMAND REPORT HAS ADMITTED THAT THESE DEPOSITS BELONG TO SHRI ASHISH SARKAR AND RECORDED IN HIS BOOKS OF ACCOUNT. THE RELEVANT PORTION OF THE REMAND REPORT DATED 15 - 03 - 2013 READS AS UNDER: - KINDLY REFER TO YOUR OFFICE LETTER DATED 15/02/2013 ON THE SUBJECT MENTIONED ABOVE. AS DIRECTED I HAVE CALLED FOR THE BOOKS OF ACCOUNTS OF THE ASSESSEE SHRI V. K. KHATRI AND SHRI MANOJ SHUKLA, BOTH FCAS AND ARS APPEARED ON BEHALF OF THE ASSESSEE AND PRODUCED BOOKS OF A CCOUNTS AND OTHER RELEVANT DOCUMENTS. ON VERIFICATION OF BOOKS OF A CCOUNTS IT WAS FOUND THAT ALL T HE TRANSACTIONS IN BANK ACCOUNT (NO.246010100068031) MAINTAINED AT AXIS BANK, POWAI, MUMBAI BRANCH ARE DULY RECORDED IN THE BOOKS OF THE ASSESSEE. SHRI RAJESH SARKAR, SMT. REENA ROY AND ASSESSEE ARE JOINT HOLDERS OF ABOVE ACCOUNT. THE ABOVE ACCOUNT WAS USED BY THE ASSESSEE FOR HIS BUSINESS PURPOSE. DURING THE YEAR UNDER CONSIDERATION TOTAL RS.36,26,758.00 WAS CREDITED IN THE ACCOUNT. HOWEVER, THE ASSESSEE IN HI S BOOKS HAS DEBITED HIS ACCOUNT TO RS.31,02,171/ - . THE REASONS FOR DIFFERENCE HAS BEEN EXPLAINED BY THE ASSESSEE AS UNDER: - 01 TOTAL CREDITS IN BANK ACCOUNT RS.36,16,758=50 02 LESS CHEQUE BOUNCE CREDIT RS.100000/ - ON 16/07/2008 RS.100000/ - ON 21/07/2008 RS.300000/ - ON 20/03/2008 RS.5,00,000/ - 03 LESS REVERSAL CREDIT RS.4400/ - ON 02/05/2008 RS.15000/ - ON 12/05/2008 RS.5000/ - ON 22/05/2008 RS.24,400/ - 04 LESS ATM WITHDRAWAL CHARGES REVERSED BY THE BANK ON VARIOUS DATES RS.187=50 05 TOTAL (02+03+04) RS.5,24,587=50 06 NET TOTAL (01 - 05) RS.31,02,171=00 ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 6 IT IS FURTHER EXPLAINED BY THE ASSESSEE THAT OUT OF THE TOTAL DEPOSITS OF RS.31,02,171/ - ,THE SUM OF TOTAL AMOUNT DEPOSITED IN CASH ON VARIOUS DATES IS RS.16,93,000/ - AND BALANCE OF RS.14,09,171/ - WAS DEPOSITED THROUGH TRANSFER. CASH OF RS.16,93,000/ - WAS DEPOSITED IN VARIOUS DATES BY SHRI ASHISH SARKAR AND THESE ARE DULY VERIFIED WITH THE CASH BOOK OF SHRI ASHISH SARKAR. OUT OF RS.14,09,171/ - A SUM OF RS.6,50,000/ - HAVE BEEN DEPOSITED BY SHRI RAJESH SARKAR, BROTHER OF THE ASSESSEE THROUGH CHEQUES WHICH WERE RETURNED TO HIM DURING THE YEAR ITSELF AND RS.7,45,000/ - WAS TRANSFERRED BY THE ASSESSEE THROUGH HIS BANK ACCOUNT MAINTAINED WITH AXIS BANK ACCOUNT NO.164010100178150, WHICH IS DULY SHOWN IN THE BO OKS OF ACCOUNTS. AMOUNT OF RS.14,171/ - WAS TRANSFERRED THROUGH ASSESSEES CURRENT ACCOUNT (MUMBAI ACCOUNT/CAPITAL CURRENT ACCOUNT). RS.13,249.46 WAS REMAINED BALANCE IN THAT ACCOUNT ON 31/03/2009 WHICH WAS TRANSFERRED TO SHRI ASHISH SARKAR (MUMBAI A CCOUNT/ CAPITAL CURRENT ACCOUNT) ON 31/03/2009). HENCE THIS BALANCE HAD NOT BEEN SHOWN IN THE BALANCE SHEET OF THE ASSESSEE. THE BALANCE OF ASHISH SARKAR (MUMBAI ACCOUNT/CAPITAL CURRENT ACCOUNT) WAS NIL AS ON 31/03/2009 THEREFORE THIS WAS NOT APPEARING IN THE BALA NCE SHEET AS ON 31/03/2009. THE RELEVANT DOCUMENTS HAVE BEEN VERIFIED AND FOUND CORRECT. IT IS EXPLAINED BY THE ASSESSEE THAT THIS ACCOUNT IS FORMING PART OF THE BOOKS OF THE ASSESSEE BECAUSE IT CONTAINS BUSINESS TRANSACTIONS OF THE ASSESSEE. WE FIND TH AT THE ABOVE DEPOSITS ARE NOT EXPLAINED DURING THE REMAND PROCEEDINGS AS ONLY AVERMENTS WERE MADE BEFORE THE AO THAT THESE ARE RECORDED IN THE BOOKS OF ACCOUNT. WHETHER THESE ARE EXPLAINED OR NOT IT HAS TO BE SEEN. SECOND AVERMENT MADE BY THE LEARNED COUNS EL FOR THE ASSESSEE BEFORE US IS THAT IN CASE THE ISSUE IS REMANDED BACK TO THE FILE OF T HE AO FOR FRESH ADJUDICATION, THE AO SHOULD BE DIRECTED TO EXCLUDE THE AMOUNT OF CHEQUE BOUNCED AMOUNTING TO RS.5 LACS AND THE CREDIT FOR REVERSAL SHOULD BE GIVEN. ANO THER FACET OF ARGUMENT MADE BY THE LEARNED COUNSEL IS THAT ONLY PEAK CREDIT SHOULD BE ASSESSED, IN CASE THESE ARE NOT FOUND EXPLAINED. WE ARE IN AGREEMENT WITH THE ARGUMENTS OF THE LEARNED COUNSEL FOR THE ASSESSEE THAT THESE AMOUNTS NEED VERIFICATION AT TH E LEVEL OF THE AO BECAUSE NEITHER TRIBUNAL NOR CIT (A) HAS THE MECHANISM TO VERIFY THE GENUINENESS OF THE SAME. ACCORDINGLY, WE REMIT THESE DEPOSITS TO THE FILE OF THE AO WITH DIRECTION THAT THE AO WILL VERIFY THE CHEQUE BOUNCE CREDIT OF RS.5 LACS AND THEN ALLOW REBATE ACCORDINGLY. SECONDLY, HE WILL ALSO VERIFY WHETHER THE SOURCES ARE EXPLAINED IN RESPECT TO T HE AMOUNTS RECORDED IN THE BOOKS OF ACCOUNT OR NOT. IN CASE THESE ARE NOT EXPLAINED, THE AO WILL ASSESS THE SE DEPOSITS AS UNEXPLAINED ON THE BASIS OF PEAK THEORY. HE WILL APPLY ONLY PEAK ADDITION AND MAKE ASSESSMENT ACCORDINGLY. IN ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 7 TERMS OF THE ABOVE, THE APPEAL OF THE REVENUE AND THE CROSS OBJECTION OF THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 10. NOW, COMING TO AS SESSEES APPEAL IN ITA NO.1 20/R PR/2013, SINCE THIS IS DELAYED BY 63 DAYS AND WE HAVE ALREA DY ADJUDICATED THE ALTERNATIVE CROSS O BJECTION OF ASSESSEE, WE NEED NO ADJUDICATION OF THE SAME AGAIN AS THE ISSUE IS SAME. ACCORDINGLY, THE SAME IS DISMISSED AS UN - ADMITTED. 12 . IN THE RESULT , THE ASSESSEE S APPEAL IN ITA NO .7495/MUM/2012 IS ALLOWED, ASSESSEES APPEAL IN ITA NO.120/RPR/2013 IS DISMISSED AS UN - ADMITTED AND THE REVENUES APPEAL IN ITA NO . 45/RPR/2013 AND THE C.O. NO.15/RPR/2013 OF THE ASSESSEE , BOTH ARE ALLOWED FOR STATISTICAL PU RPOSES . O RDER PRONOUNCED IN THE OPEN COURT ON 08 /0 7 / 201 6 . SD/ - SD/ - ( RAMIT KOCHAR ) ( MAHAVIR SINGH ) ACCOUNTANT MEMBER JUDICIAL MEMBER M UMBAI , DATED 08 / 07 / 201 6 LAKSHMIKANTA DEKA/SR.PS ITA NO. 4 5 & CO NO.15 / R PR /20 13 ITA NO.120/RPR/2013 ITA NO.7495/MUM/2012 8 COPY OF THE ORDER FORWARDED TO : BY ORDER, ASSISTANT REGISTRAR ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT ( A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//