AMY DIAM VEGA JEWELLERY PRIVATE LIMITED , MUMBAI V. DEPUTY COMMISSIONER OF INCOME TAX 13(3)(2), MUMBAI

MA 292/MUM/2018

• Counselvise Citation: [2019] 111 COUNSELVISE.COM (IT) 4605 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 09-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Assessment Year: 2012-2013
• Appeal Filed On: 20-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MANISH KUMAR SINGH
• Assessee Lawyers: VIJAY BIYANI
• Keywords: Bogus purchase
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A , MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER & SHRI RAJESH KUMAR , HON'BLE ACCOUNTANT MEMBER M .A. NO S . 292 TO 294 /MUM/201 8 [ ARISING OUT OF ITA NO S . 5800, 5799 , & 5801 /MUM/2016 (A.Y: 2012 - 13 , 2011 - 12 & A.Y: 2010 - 11) AMY DIAM VEGA JEWELLERY PVT. LTD UNIT NO.1108, II FLOOR, A WING, THE CAPITAL, G BLOCK PLOT L 70 BHARAT NAGAR, BANDRA (E) MUMBAI 400 051 PAN: AAHCA 1784 B V. DCIT 13(3)(2) AAYAKAR BHAVAN, CHURCH GATE, MUMBAI - 400 021 (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI VIJAY BIYANI DEPARTMENT BY : SHRI MAN ISH KUMAR SINGH DATE OF HEARING : 08.03.2019 DATE OF PRONOUNCEMENT : 09 . 05 .2019 O R D E R PER C. N. PRASAD (JM) 1. THROUGH THESE MISCELLANEOUS APPLICATIONS ASSESSEE PLEADS THAT THE TRIBUNAL DID NOT CONSIDER FOR GRANT OF CREDIT FOR THE GROSS PROFIT MARGIN WHILE ESTIMATING @4% OF THE ALLEGED BOGUS PURCHASES. 2 M.A. NOS. 292 TO 294/MUM/2018 AMY DIAM VEGA JEWELLERY PVT. LTD 2. IT IS STATED IN THE MISCELLANEOUS APPLICATION THAT THE GROSS PR OFIT MARGIN ON SALE OF ALLEGED BOGUS TRANSACTION OF PURCHASES WAS REPORTED AT 9.46% BUT NO CREDIT OF SUCH GROSS PROFIT MARGIN HAS BEEN GRANTED WHILE COMPUTING ADDITION @4% ON ALLEGED BOGUS PURCHASES. THEREFORE, IT SUBMITTED THAT THE TRIBUNALS ORDER CONTA INS MISTAKE APPARENT I N RECORD AND MAY BE RECTIFIED. 3. LD. DR SUBMITTED THAT THERE IS NO MISTAKE APPARENT ON RECORD IN SUSTAINING THE ADDITION @4% OF BOGUS PURCHASES AND THE TRIBUNAL CONSIDERED ALL THE SUBMISSIONS AND VARIOUS CASE LAWS AND SUSTAINED THE ADDI TION @4% WHICH WAS ESTIMATED BY THE LD. CIT(A) AS AGAINST 8% ESTIM ATED BY THE ASSESSING OFFICER. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS, PERUSED THE ORDER OF THE TRIBUNAL. THIS TRIBUNAL HAD CONSIDERED ALL THE SUBMISSIONS, EVIDENCES ON RECORD AND THE FINDINGS OF THE LD. CIT(A) HAVE BEEN AFFIRMED AND THE LD. COUNSEL FOR THE ASSESSEE COULD NOT POINT OUT ANY MISTAKE APPARENT ON RECORD CREPT IN THE ORDER OF THE TRIBUNAL . THE PLEADINGS OF THE LD. COUNSEL FOR THE ASSESSEE ARE THAT THE ADDITION MADE @4% SHOULD BE RE DUCED CONSIDERING THE GROSS PROFIT MARGIN ALREADY SHOWN BY THE ASSESSEE WHICH AMOUNTS TO REVIEW OF THE ORDER WHICH IS NOT PERMISSIBLE UNDER LAW . NO MISTAKE APPARENT ON RECORD HAS BEEN POINTED OUT. THUS , THERE IS NO MERIT 3 M.A. NOS. 292 TO 294/MUM/2018 AMY DIAM VEGA JEWELLERY PVT. LTD IN THE MISCELLANEOUS APPLICATIONS FILED BY THE ASSESSEE, HENCE THE MISCELLANEOUS APPLICATIONS ARE REJECTED. 5. IN THE RESULT, MISCELLANEOUS APPLICATIONS ARE DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THE 09 TH MAY , 2019 SD/ - SD/ - ( RAJESH KUMAR ) (C.N. PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI / DATED 09 / 0 5 / 2019 GIRIDHAR , S R. PS COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY// BY ORDER (ASSTT. REGISTRAR) ITAT, MUM