INCOME TAX OFFICER-32(1)(5), MUMBAI V. HIREN CHANDRAKANT PAREKH, MUMBAI

MA 6/MUM/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3780 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 26-06-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 03-01-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Bogus purchase
• Section: 254(2)

Judgement Text

म ु ंबई ठ “एस एम स ” स , स ए ं एस. ! "# हम न, ेख स े सम( IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ SMC”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI S.RIFAUR RAHMAN , ACCOUNTANT MEMBER MA NO.6/MUM/2022 [ Arising out of ITA NO.5389/MUM/2019(A.Y.2009-10 ) ] Deputy Commissioner of Income Tax- Circle 32(1) Mumbai, Room No.702, 7 th Floor, Kautilya Bhavan, Bandra-Kurla Complex, Bandra East, Mumbai 400 051. ..... ) * /Applicant बन म Vs. Hiren Chandrakant Parekh, 402, Narmada Apartment, Shimpoli Road, Haridas Nagar, Borivali (W), Mumbai – 400 092. PAN: AFXPP-8325-D ..... ) , /Respondent ) * - / Applicant by : Shri B.K.Bagchi ) , - /Respondent by : No. स ु न ई . , / Date of hearing : 01/04/2022 /01 . , / Date of pronouncement : 27/06/2022 ेश/ ORDER PER VIKAS AWASTHY, JM: This Miscellaneous Application has been filed by the Revenue u/s. 254(2) of the Income Tax Act, 1961 [in short ‘ the Act’] seeking rectification in the order of Tribunal dated 16/03/2021. 2. Shri B.K.Bagchi representing the Department submitted that in para-4 of the order, the Tribunal has restricted GP to 7.5% on bogus purchases 2 MA NO.6/MUM/2022 following the order of Tribunal in assessee’ s own case in assessment year 2010-11. The ld. Departmental Representative pointed that in assessment year 2010-11 the Tribunal had restricted the GP ratio to 8% and not 7.5% as has been mentioned in the order. The ld. Departmental Representative submitted that the GP rate mentioned at 7.5% in para 4 of the order. is a mistake which needs to be rectified to 8%. 3. We have heard the submissions made by ld. Departmental Representative. The Revenue is seeking rectification in the order of Tribunal to change GP rate from 7.5% to8% as was held by the Tribunal in assessment year 2010-11. It is relevant to mention here that in assessment year 2010-11 the Tribunal restricted GP at 8% on bogus purchases as the assessee had admitted GP of 7.5%. In the assessment year under appeal the GP admitted by the assessee is 4.95%. In the facts of the case GP on bogus purchases was restricted to 7.5% in the impugned assessment year. There is no mistake much less any apparent mistake in the impugned assessment year. There is no merit in the miscellaneous application filed by the Revenue, hence, the same is dismissed. Order pronounced in the open Court on Monday the 27 th day of June, 2022 Sd/- Sd/- (S.RIFAUR RAHMAN ) (VIKAS AWASTHY) ेख स /ACCOUNTANT MEMBER स /JUDICIAL MEMBER म ु ंबई/ Mumbai, 3 न ं /Dated 27/06/2022 Vm, Sr. PS(O/S) 3 MA NO.6/MUM/2022 त ल प अ े षतCopy of the Order forwarded to : 1. */The Appellant , 2. ) , / The Respondent. 3. ु 4,( )/ The CIT(A)- 4. ु 4, CIT 5. 7 8 ) , न , . . ., म ु बंई/DR, ITAT, Mumbai 6. 8 9: " ; /Guard file. BY ORDER, //True Copy// (Dy./Asstt. Registrar) ITAT, Mumbai