VIBHUTI SHAH, MUMBAI V. ITO 18(1)(1), MUMBAI

ITA 840/MUM/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 4002 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-07-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 08-07-2013
• Assessment Year: 2001-2002
• Appeal Filed On: 08-02-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BABAN D PATIL
• Assessee Lawyers: NISCHAL AGARWAL
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH F, MUMBAI BEFORE SHRI RAJENDRA SINGH, ACCOUNTANT MEMBER AND DR. S.T.M. PAVALAN, JUDICIAL MEMBER ITA NO. 840/MUM/2012 ASSESSMENT YEAR: 2001-02 MS. VIBHUTI SHAH 403 B, PATEL APARTMENTS CAMPACOLA COMPOUND WORLI MUMBAI- 400 018 PAN:AEUPS 5918 R VS. ITO 18(1)(1) PIRAMAL CHAMBERS MUMBAI (APPELLANT) (RESPONDENT) ASSESSEE BY : MR. NISCHAL AGARWAL REVENUE BY : MR. BABAN D. PATIL DATE OF HEARING : 08.07.2013 DATE OF PRONOUNCEMENT : 24.07.2013 O R D E R PER DR. S.T.M. PAVALAN, JM: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER OF THE LD.CIT(A) -29, MUMBAI DATED 08.12.2011 FOR THE ASS ESSMENT YEAR 2001-02. 2. THE ONLY GROUND RAISED BY THE ASSESSEE RELATES T O THE ADDITION OF RS.25,46,579/- MADE BY THE AO U/S 68 AND THE SAME C ONFIRMED BY THE LD.CIT(A) TO THE EXTENT OF RS.14,68,579/-. 3. AT THE OUTSET IT HAS BEEN POINTED OUT THAT IN TH E ASSESSMENT FRAMED U/S 143(3), THE AO MADE AN ADDITION OF RS.25,46,579/- U /S 68 OF THE ACT AND THE LD.CIT(A), DURING THE FIRST APPELLATE PROCEEDINGS, DELETED THE ENTIRE ADDITION MADE BY THE AO. THEREAFTER, THE REVENUE PREFERRED THE SE COND APPEAL BEFORE THE ITAT AGAINST THE DELETION IN WHICH THE ITAT RESTORED THE MATTER BACK TO THE FILE OF THE LD.CIT(A) VIDE ITS ORDER DATED 10.03.2010 IN ITA NO . 5676/MUM/2008 TO DECIDE THE MATTER AFRESH AS THE LD.CIT(A) HAS NOT CONSIDERED T HE REMAND REPORT IN ITS PROPER PERSPECTIVE. WHILE GIVING EFFECT TO THE ORDER OF TH E ITAT, THE LD.CIT(A), VIDE HIS ORDER DATED 09.01.2008 PROVIDED THE RELIEF PARTLY B Y REDUCING THE ADDITION TO THE ITA NO. 840/MUM/2012 MS. VIBHUTI SHAH ASSESSMENT YEAR: 2001-02 2 TUNE OF RS.14,68,579/- AS AGAINST THE ADDITION OF R S.25,46,579/- MADE BY THE AO IN THE ORIGINAL ASSESSMENT FRAMED. AGAINST THE IMPUGNE D ORDER, BOTH THE ASSESSEE AND REVENUE PREFERRED THEIR RESPECTIVE APPEALS BEFORE T HE ITAT. IN THE SAID APPEAL FILED BY THE REVENUE, THE ITAT VIDE ORDER DATED 16.01.201 3 IN ITA NO. 5676/MUM/2008 HAS AGAIN SENT BACK THE ISSUE TO THE FILE OF THE LD .CIT(A) TO GIVE A PROPER FINDING ON EACH ITEM OF THE CREDIT ENTRIES AND EXAMINE THE REA SONING GIVEN IN THE REMAND REPORT. SINCE, THE APPEAL OF THE ASSESSEE BEFORE US IS ALSO ON THE SAME ISSUE ARISING OUT OF THE SAME ORDER OF THE LD.CIT(A) FOR THE SAME ASSESSMENT YEAR, IT IS JUST AND PROPER TO SEND BACK THIS APPEAL ALSO TO THE FILE OF THE LD.CIT(A) WITH THE SIMILAR DIRECTION GIVEN BY THE ITAT VIDE ITS ORDER DATED 16 .01.2003 IN ITA NO. 5676/MUM/2008. WE DIRECT AND ORDER ACCORDINGLY. 4. IN THE RESULT THE APPEAL FILED BY THE ASSESSEE I S ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 24 TH DAY OF JULY, 2013. SD/- SD/- (RAJENDRA SINGH) (DR. S.T.M. PAVALAN) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 24.07.2013. *SRIVASTAVA COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR F BENCH //TRUE COPY// [ BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.