WORLD TRADE PARK LTD, JAIPUR V. ASST CIT 5(3)(2), MUMBAI

MA 242/MUM/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 8876 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 15 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-01-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2010-2011
• Appeal Filed On: 21-09-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit; Set aside
• Section: 13; 22

Judgement Text

IN THE INC OME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, A M AND SHRI PAVAN KUMAR GADALE , J M M .A. NO . 242 /MUM/2020 ARISING OUT OF I.T.A. NO. 1665/MUM/2017 (ASSESSMENT YEAR: 2010 - 11 ) M/S WORLD TRADE PARK LTD. (FORMERLY KNO WN AS R. F. PROPERTIES & TRDG. LTD.), WORLD TRADE PARK, JAWAHARLAL NEHRU MARG, MALVIYA NAGAR, JAIPUR - 302017 / VS. ACIT 5 (3)(2), ROOM NO. 573, AAYAKAR BHAVAN, 5 TH FLOOR, MUMBAI - 400 020 ./ ./ PAN NO. AACCR8969E ( / APPELLANT ) : ( / RESPONDENT ) / APPELLANT BY : NONE / RESPONDENT B Y : MS. SMITA VERMA , DR / DATE OF HEARING : 18 /12 /20 20 / DATE OF PRONOUNCEMENT : 05.01.2021 / O R D E R PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER : THE PRESENT MISCELLANEOUS APPLICATION HAS BEEN FILED BY THE ASSESSEE FOR RECTI FYING THE ORDER DATED 29.11.2019 PASSED IN ITA NO. 1665 /MUM/201 7 AND FOR DISPOSING OF THE APPEAL ON MERITS. 2 M.A. NO. 242 /MUM/2020 M/S WORLD TRADE PARK LTD. 2 . AT THE OUTSET, IT WAS NOTICED THAT NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. ON THE OTHER HAND LD. DR IS PRESENT, THEREFORE WE PROCEED TO ADJ UDICATE THE ISSUE RAISED BY THE ASSESSEE IN THE PRESENT MA WITH THE HELP OF LD. DR. 3. F ROM THE RECORDS, WE NOTICE THAT ASSESSEE HAS FILED THE PRESENT MA ON THE GROUNDS WHICH ARE AS UNDER: - 6. WHILE ADJUDICATING THE APPEAL, THE LD. CIT(A) ERRONEOUSLY IG NORED THE FACT THAT THE APPEALS IN QUESTION WERE FOR A.Y.2010 - 11, 2011 - 12 & 2012 - 13 AND NOT A.Y.2011 - 12, 2012 - 13 & 2013 - 14 WHICH WERE THE YEARS IN WHICH DISCLOSURE WAS MADE DURING THE COURSE OF SURVEY OPERATIONS. THE ADDITION MADE IN A.Y.2010 - 11 OF RS. 1,8 4,50,0007 - WAS ON ACCOUNT OF BOOKING MONEY RECEIVED FROM MEMBERS TREATED AS UNEXPLAINED CASH CREDIT AND NOT THE SOURCE OF CASH DEPOSITED IN THE BANK ACCOUNT TREATED AS UNDISCLOSED. THIS FACT WAS BROUGHT TO YOUR HONORS ATTENTION DURING THE COURSE OF HEARING AND IT WAS REQUESTED THA T THE ORDER FOR A, Y.2010 - 11 DESERVES TO BE SET ASIDE, SINCE THE ADDITIONS HAVE BEEN MADE ON A DIFFERENT BASIS AND NOT COVERED BY THE DISCLOSURE MADE DURING THE COURSE OF SURVEY OPERATION U/S. 133 A OF THE ACT. THIS FACT HAS ALSO B EEN NOTED IN PARA 16 AND PAGE 17 OF THE ORDER PASSED BY THE HON. TRIBUNAL. IN PARA 21 & 22 AND PAGE 19 TO 20, IT HAS BEEN HELD AS UNDER: 'WITH REGARD TO A. Y. 2012 - 13, AS SUBMITTED BY LD. AR THAT THE FACTS IN THIS A. YR. ARE DIFFERENT AND LD. CIT(A) HAS NO T ADJUDICATED THE ISSUE IN THAT PERSPECTIVE, ACCORDINGLY THIS ISSUE IS REMITTED BACK TO 3 M.A. NO. 242 /MUM/2020 M/S WORLD TRADE PARK LTD. THE FILE OF LD. CIT(A) TO CONSIDER THE SUBMISSION OF ASSESSEE AND, MATERIAL PLACED ON RECORD AND ADJUDICATED THE ISSUE AFRESH. ACCORDINGLY, GROUNDS RAISED IN AY 2012 - 13 ARE ALLOWED FOR STATISTICAL PURPOSES. IN THE NET RESULT, THE APPEALS FILED BY THE REVENUE FOR AY 2010 - 11 AND 2011 - 12 ARE DISMISSED AND APPEAL OR AY 2012 - 13 IS ALLOWED FOR STATISTICAL PURPOSES.' 7. IT IS SUBMITTED THAT IN PARA 22, IT HAS BEEN MENTIONED T HAT APPEALS FILED BY THE RE VENUE FOR A.Y.2010 - 11 AND 2011 - 12 ARE DISMISSED WHEREAS APPEAL FOR A.Y.2012 - 13 IS ALLOWED FOR STATISTICAL PURPOSES. HOWEVER, IT IS RESPECTFULLY SUBMITTED THAT APPEAL FOR A.Y.2010 - 11 THOUGH THIS FACT HAS BEEN NOTED IN PARA 17 OF T HE ORDER IS REQUIRED TO BE ALLOWED FOR STATISTICAL PURPOSES AND APPEAL FOR A.Y.2011 - 12 & 2012 - 13 ARE REQUIRED TO BE DISMISSED. THERE IS AN ERROR IN THE MENTIONING OF THE ASSESSMENT YEAR WHOSE APPEAL IS REQUIRED TO BE SET ASIDE AND THE SAME SHOULD BE A.Y.20 10 - 11 AS AGAINST A.Y.2012 - 13 MENTIONED IN THE ORDER. THE RESPONDENT THEREFORE PRAYS THAT THIS MISTAKE BEING APPARENT FROM RECORD AND THE SAME MAY PLEASE BE RECTIFIED. 4 . ON THE OTHER HAND, LD. DR RELIED ON THE ORDERS PASSED BY THE REVENUE AUTHORITIES, HOWE VER SHE CONCEDED THAT THESE MISTAKES ARE APPARENT FROM THE RECORD. 4 M.A. NO. 242 /MUM/2020 M/S WORLD TRADE PARK LTD. 5 . CONSIDERED THE SUBMISSIONS OF LD. DR AND MATERIAL PLACED ON RECORD. AFTER CONSIDERING THE ORDER OF ITAT AT PARA NO. 16 TO 22, WE NOTICE THAT THERE ARE MISTAKE APPARENT FROM THE ORDER PA SSED BY ITAT. THEREFOR E, WE ARE RECTIFYING PARA NO. 22 OF THE SAID ORDER AND ACCORDINGLY, READ AS UNDER: - IN THE NET RESULT, THE APPEAL FILED FOR ASSESSMENT YEAR 2010 - 11 IS ALLOWED FOR STATISTICAL PURPOSES AND THE APPEALS FILED FOR ASSESSMENT YEAR 2011 - 12 & 2012 - 13 ARE DISMISSED . 6 . IN THE NET RESULT, THE PRESENT MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE STANDS ALLOWED . ORDER PRONOUNCED IN THE OPEN COURT ON 05.01. 2021 . SD/ - SD/ - ( PA V AN KUMAR GADALE ) (S. RIFAUR RAHMAN ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED : 05/01 / 2021 SR.PS DHANANJAY. / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, 5 M.A. NO. 242 /MUM/2020 M/S WORLD TRADE PARK LTD. MUMBAI 6. / GUARD F I LE / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, M UMBAI