BINAYAK TEX PROCESSORS LTD, MUMBAI V. DCIT CEN CIR 39, MUMBAI

ITA 7852/MUM/2010

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 71100 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 9 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-09-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 21-03-2013
• Assessment Year: 2006-2007
• Appeal Filed On: 12-11-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRITAM SINGH
• Keywords: Search and seizure
• Section: 133A; 132

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SRI H.L. KARWA, PRESIDENT, AND SHRI N.K.BILL AIYA, AM ./ I.T.A. NO. 7851/MUM/2010 ( / ASSESSMENT YEAR : 2005-06) ./ I.T.A. NO. 7852/MUM/2010 ( / ASSESSMENT YEAR : 2006-07) BINAYAK TEX PROCESSORS LTD. C/O. SHANKARLAL JAIN & ASSOCIATES, 12,ENGINEER BUILDING, 265, PRINCESS STREET, MUMBA-400002 / VS. DCIT, CENTRAL CIRCLE-39, MUMBAI !' $ ./ PAN : AAACB1554D ( '% / APPELLANT ) .. ( &''% / RESPONDENT ) '% ( ) / APPELLANT BY : SHRI S.L.JAIN &''% ( ) / RESPONDENT BY : SHRI PRITAM SINGH ( *$ / DATE OF HEARING : 10-09-2013 +, ( *$ / DATE OF PRONOUNCEMENT : 10 -09-2013 -. / O R D E R PER BENCH: THESE TWO APPEAL BY THE ASSESSEE ARE DIRECTED AGAIN ST TWO DIFFERENT ORDERS OF THE CIT(A)-41, MUMBAI, DATED 06.10.2010, PERTAINING TO A.Y. 2005- 06 AND 2006-07 AS COMMON ISSUES ARE INVOLVED IN BOT H THESE APPEALS. THEY WERE HEARD TOGETHER AND DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE CONVENIENCE AND BREVITY. 2. THE SUM AND SUBSTANCE OF THE GRIEVANCE OF THE AS SESSEE IS THAT AMOUNT OFFERED FOR TAXATION DURING THE SURVEY PROCEEDING H AVE BEEN DOUBLY TAXED AND THEREFORE RELIEF IS SORT FOR THE IMPUGNED ASSES SMENT YEAR. 2 ITA NO.7851/MUM/2010 & ITA NO.7852/MUM/2010 BINAYAK TEX PROCESSOR LTD. 3. FACTS OF THE CASE AS THEY WERE DURING THE COURSE OF SCRUTINY ASSESSMENT PROCEEDINGS SHOW THAT THE SURVEY OPERATI ON U/S 133A OF THE ACT WAS CONDUCTED AT THE BUSINESS PREMISES ON 10.10.200 7. DURING THE COURSE OF THE SURVEY ACTION, ASSESSEE SURRENDERED ADDITION AL INCOME IN THE HANDS OF THE DIFFERENT CONCERNS OF THE ASSESSEE GROUP FOR DI FFERENT ASSESSMENT YEARS. IN THE HANDS OF THE ASSESSEE INCOME OF RS.56,98,653 /- WERE ADMITTED AS UNDISCLOSED INCOME RELEVANT TO TWO DIFFERENT ASSESS MENT YEARS I.E. 2005-06 AND 2006-07 WHICH ARE UNDER CONSIDERATION. THE BRE AK UP IS EXHIBITED AT PAGE 2 PARA 5 OF THE ASSESSMENT ORDER FOR 2005-06. FOR A.Y.2005-06, THE ADDITIONAL INCOME OFFERED WAS RS.24,21,989/- AND FO R A.Y. 2006-07 ADDITIONAL INCOME OFFERED WAS RS.32,76,664/- TOTAL ADDITIONAL INCOME OFFERED WAS RS.56,98,653/-. SUBSEQUENT TO THE SURVEY OPERA TION SEARCH AND SEIZURE OPERATION U/S 132 OF THE ACT WAS CARRIED OUT ON 10. 10.2007 AT THE RESIDENTIAL AND BUSINESS PREMISES OF THE ASSESSEE A ND ITS ASSOCIATES. IN ADVERTENTLY, THE ASSESSEE OFFERED THE ENTIRE ADDITI ONAL INCOME IN ITS RETURN FOR A.Y.2006-07. THE AO OBSERVED THAT THE ASSESSEE HAS NOT OFFERED THE ADDITIONAL INCOME OF RS.24,21,981/- DURING THE ASSE SSMENT YEAR 2005-06 AND ACCORDINGLY MADE THE ADDITION OF RS.24,21,989/- . 4. IT IS THE SAY OF THE COUNSEL THAT THIS INCOME HA S BEEN ADDED BY MISTAKE IN THE ASSESSMENT YEAR 2006-07, WHEREIN IT HAS BEEN TAXED ACCORDINGLY. THEREFORE, THE SAME AMOUNT SHOULD NOT BE TAXED ONCE AGAIN IN A.Y.2005-06. 5. WE HAVE CAREFULLY PERUSED THE ASSESSMENT ORDERS; WE FIND FORCE IN THE CONTENTION OF THE COUNSEL. IT IS AN UNDISPUTED FAC T THAT THE ASSESSEE HAS OFFERED ADDITIONAL INCOME TOTALING TO RS.56,98,653/ - AND IT IS ALSO NOT IN DISPUTE THAT OUT OF THIS 24,21,989/- PERTAIN TO A.Y. 2005-06 AND RS.32,76,664/- PERTAIN TO A.Y. 2006-07. IT IS ALSO NOT IN DISPUTE THAT THE ASSESSEE HAS OFFERED THE ENTIRE ADDITIONAL INCOME O F RS.56,98,653/- IN A.Y. 2006-07. THESE FACTS ARE VERY MUCH APPARENT FROM T HE ASSESSMENT ORDER. 3 ITA NO.7851/MUM/2010 & ITA NO.7852/MUM/2010 BINAYAK TEX PROCESSOR LTD. THEREFORE, WE DO NOT FIND ANY REASON FOR TAXING RS. 24,21,989/-ONCE AGAIN IN A.Y. 2005-06. THE AO IS DIRECTED TO DELETE THE ADDI TION OF RS. 24,21,989/- IN A.Y. 2005-06. APPEAL OF THE ASSESSEE FOR A.Y. 2005-0 6 IS ALLOWED AND APPEAL FOR THE A.Y.2006-07 IS ACCORDINGLY DISMISSED. 6. IN THE RESULT, APPEAL FILED BY THE ASSESSEE FOR A.Y.2005-06 IS ALLOWED AND FOR A.Y.2006-07 IS ACCORDINGLY DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 10/0 9/2013 -. ( +, $ /- 10/09/2013 , , ( 0 SD/- (H.L.KARWA) SD/- (N.K.BILLAIYA) HONBLE PRESIDENT ACCOUNTANT MEMBER MUMBAI; /- /DATED : 10 TH SEPTEMBER, 2013. SHEKHAR. P.S. -. -. -. -. ( (( ( &*12 &*12 &*12 &*12 32 * 32 * 32 * 32 * / COPY OF THE ORDER FORWARDED TO : 1. '% / THE APPELLANT 2. &''% / THE RESPONDENT. 3. 4 ( ) / THE CIT- , MUMBAI. 4. 4 / CIT(A)- , MUMBAI 5. 250 &* , , / DR, ITAT, MUMBAI 6. 06 7 / GUARD FILE. -. -. -. -. / BY ORDER, '2* &* //TRUE COPY// 8 88 8 / 9 9 9 9 : : : : (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI