ITO 27(1)(5), NAVI MUMBAI V. GANESH CHANDRKANT HANDORE, MUMBAI

ITA 7586/MUM/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 0033 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-08-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 27-12-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SAURABH DESHPANDE
• Assessee Lawyers: DINESH R SHAH
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A, MUMBAI BEFORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA NO.7586/MUM/2016, (A.Y. 2011-12) I.T.O-27(1)(5), MUMBAI 4 TH FLOOR, TOWER NO.6, ROOM NO.410, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI 400 703 PAN: ABRPH 1451L ...... APPELLANT VS. SHRI GANESH CHANDRAKANT HANDORE, HANDORE NIWAS, MALEWADI, P.L.LOKHANDE MARG, CHEMBUR, MUMBAI 400 089 ..... RESPONDENT APPELLANT BY : SHRI SAURABH DESHPAND E RESPONDENT BY : SHRI DINESH R. SHAH DATE OF HEARING : 17/08/2017 DATE OF PRONOUNCEMENT : 30/08/2017 ORDER PER G.S.PANNU,A.M: THE CAPTIONED APPEAL FILED BY THE REVENUE IS D IRECTED AGAINST THE ORDER OF CIT(A)-25, MUMBAI DATED 07/10/ 2016, WHICH IN TURN, ARISES OUT OF ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 (IN SH ORT THE ACT) DATED 17/09/2014. IN THIS YEAR, THE GROUNDS RAISED BY THE REVENUE READ AS UNDER:- 2 ITA NO.7586/MUM/2016, (A.Y. 2011-12) 1.ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.30 LACS ON ACC OUNT OF UNEXPLAINED UNSECURED LOAN EVEN THOUGH THE ASSESSEE HAS FAILED TO FULFILL HIS ONUS OF PROVING THE GENUINENESS AND CREDITWORTHINESS OF THE LOAN CREDITORS AT TIME OF ASSESSMENT, REMAND AND APPELLATE PROCEEDING S BEFORE CIT(A). 2.THE APPELLANT PRAYS THAT THE ORDER OF THE CIT(A) ON THE ABOVE GROUND BE REVERSED AND THAT OF THE ASSESSING OFFICER BE RE STORED. 3. AT THE OUTSET, IT WAS SUBMITTED BY LD. REPRESEN TATIVE FOR THE ASSESSEE THAT THE TAX EFFECT INVOLVED IN THE APPE AL OF THE REVENUE IS LESS THAN RS.10.00 LACS, AND THE SAME HAS BEEN A CCEPTED BY THE LD. DEPARTMENTAL REPRESENTATIVE. THE CBDT VIDE CIRC ULAR NO.21/2015 DATED 10/12/2015 HAS REVISED THE MONETAR Y LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIB UNAL RETROSPECTIVELY. SINCE THE TAX EFFECT IN DISPUTE I N THE CAPTIONED APPEAL IS STATED TO BE BELOW THE MONETARY LIMIT OF RS.10.00 LACS SPECIFIED IN THE CBDT CIRCULAR DATED 10/12/2015 (SU PRA), THE SAME IS DISMISSED AS NOT MAINTAINABLE. 4. IN THE RESULT, APPEAL FILED BY THE REVENUE IS D ISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30/08/2017. SD/- SD/- (AMARJIT SINGH) (G.S. PANNU) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED 30/08/2017 VM , SR. PS 3 ITA NO.7586/MUM/2016, (A.Y. 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