VISHWAS R. BHOIR, MUMBAI V. ACIT CIR 3, MUMBAI

ITSSA 73/MUM/2009

• Counselvise Citation: [2010] 124 COUNSELVISE.COM (IT) 9270 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 13 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 16-04-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: misc
• Appeal Filed On: 03-07-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIRENDRA OJHA
• Assessee Lawyers: N N NANDGAONKAR
• Keywords: Block assessment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, F BENCH, MUMBAI. BEFORE S/SHRI S.V.MEHROTRA, AM & N.V.VASUDEVAN ,JM I.T.(SS)A. NO. 73 /MUM/2009 BLOCK PERIOD: 1.4.1990 TO 20.10.2000 VISHWAS R BHOIR, V. THE ACIT, CIRCLE-3, ROHINI APARTMENT, G.G.ROAD, DOMBIVALI(W), RANI MANS ION, MURBAD ROAD, MUMBAI. KALYAN, MUMBAI. PA NO.AGIPB 3792 L (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI N.N.NANDGAONKAR REVENUE BY : SHRI VIRENDRA OJHA O R D E R PER S.V.MEHROTRA, AM THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER DATED 13.3.2009 OF LD CIT (A)-I, THANE CONFIRMING THE PENALTY OF RS.1, 63,24,630/- LEVIED BY THE AO U/S. 158BFA(2) OF THE I.T.ACT, 1961 FOR THE BLOCK PERIOD 1.4.90 TO 14.12.2000. 2. FACTS IN BRIEF ARE THAT IN THIS CASE, A SEARCH & SEIZURE ACTION WAS CARRIED OUT U/S.132 OF THE I.T.ACT ON 14.12.2000 AND A NUMBER O F INCRIMINATING DOCUMENTS WERE FOUND AND SEIZED. THE ASSESSEE HAD FILED THE BLOCK RETURN OF INCOME ON 30.12.2002 SHOWING UNDISCLOSED INCOME FOR THE BLOCK PERIOD AT RS.50,49,957/-. THE AO COMPLETED THE BLOCK ASSESSMENT ORDER U/S.158BC ON 31.12.2002 DETERMINING THE UNDISCLOSED INCOME OF THE BLOCK PERIOD FROM 1.4.90 TO 14.12.2000 AT RS .2,83,04,419/-. HENCE, THE EXCESS UNDISCLOSED INCOME COMPUTED BY THE AO ON THE BASIS OF THE SEIZED MATERIAL WAS RS.2,32,54,462/-, WHICH WAS TREATED AS CONCEALED IN COME OF THE ASSESSEE. THE AO ALSO ISSUED SHOW CAUSE NOTICE TO THE ASSESSEE FOR IMPOSI TION OF PENALTY U/S.158BFA(2). THE 2 ASSESSEE DID NOT FILE ANY EXPLANATION BEFORE THE AO . ACCORDINGLY, THE AO LEVIED PENALTY OF RS.1,63,24,630/- U/S.158BFA(2). ON APPEAL, LD C IT (A) CONFIRMED THE PENALTY ORDER. 3. AT THE TIME OF HEARING, LD COUNSEL FOR THE ASSES SEE FILED BEFORE US A COPY OF DECISION DATED 8 TH SEPTEMBER, 2009 OF THE ITAT IN IT(SS) A NO.584/M/ 2004 FOR THE BLOCK PERIOD 1.4.90 TO 14.12.2000 AND CONTENDED THA T IN ASSESSEES OWN CASE IN QUANTUM APPEAL, THE TRIBUNAL HAS RESTORED THE MATTER TO THE FILE OF THE FIRST APPELLATE AUTHORITY . 4. WE HAVE HEARD BOTH THE SIDES AND HAVE PERUSED TH E RECORD OF THE CASE. WE FIND THAT IN QUANTUM APPEAL, THE TRIBUNAL VIDE ITS ORDE R DATED 8.9.2009(SUPRA) HAS RESTORED THE MATTER TO THE FILE OF THE CIT (A) TO DECIDE THE SAM E AFTER AFFORDING A REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. WE, THEREFO RE, SET ASIDE THE ORDER OF LEARNED CIT(A) CONFIRMING THE PENALTY AND RESTORE THE MATTE R TO HIS FILE TO DECIDE THE PENALTY AFRESH IN ACCORDANCE WITH LAW AFTER DECIDING THE QU ANTUM APPEAL. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS TREATED AS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED ON 16 TH APRIL, 2010 SD/- (N.V.VASUDEVAN) (JUDICIAL MEMBER) SD/- (S.V. MEHROTRA) (ACCOUNTANTMEMBER) MUMBAI, DATED 16 TH APRIL, 2010 PARIDA COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. COMMISSIONER OF INCOME TAX (APPEALS)-, MUMBAI 4. COMMISSIONER OF INCOME TAX, CITY-, MUMBAI 5. DEPARTMENTAL REPRESENTATIVE, BENCH F, MUMBAI //TRUE COPY// BY ORDER ASSTT. REGISTRAR, ITAT, MUMBAI 3 DATE INITIALS 1. DRAFT DICTATED ON 15.4.2010 PS 2. DRAFT PLACED BEFORE AUTHOR 15.4.2010 PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER AM/JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/J M 5. APPROVED DRAFT COMES TO THE SR. PS PS 6. KEPT FOR PRONOUNCEMENT ON PS 7. FILE SENT TO THE BENCH CLERK PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER 4