ITO WARD 1(4), KALYAN V. SHRI. SHRIDHAR VENKATMALLAYA EGA, Thane

MA 79/MUM/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 4441 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 9 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 26-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 17-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAY KUMAR MENON
• Keywords: Bogus purchase; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D B ENCH , MUMBAI BEFOR E: HON BL E JUSTICE P.P. BHATT, PRESIDENT & SHRI M.BALAGANESH, AM M.A. NO. 79 / MUM/2020 (ARISING OUT OF I TA NO. 327/ MUM/ 2019 ( ASSESSMENT YEAR : 2010 - 11 ) ITO WARD 1(4) KALYAN 1 ST F LOOR, MOHAN PLAZA NEAR MOHAN PRIDE WAYLE NAGAR, KHADAKPADA KALYAN WEST THANE - 4 21 301 VS. SHRI SHRIDHAR VENKATMALLAYA EGA 184, HINDU KUSH BUILDING ABOVE CHITRA ARTS PARNAK MANDAL BHIWANDI, T HANE - 421 302 PAN/GIR NO. AAFPE1 613E (APPELLANT ) .. (RESPONDENT ) REVENUE BY SHRI VIJAYKUMAR MENON ASSESSEE BY NONE DATE OF HEARING 26 / 03 /202 1 DATE OF PRONO U NCEMENT 26 / 03 /202 1 / O R D E R PER M. BALAGANESH (A.M) : BY VIRTUE OF TH IS MISCELLANEOUS A PPLICATION , THE REVENUE SEE KS TO RECAL L THE ORDER PASSED BY THIS TRIBUNAL ON 21/08/2019 WHEREIN TH I S APPEAL W AS DISMISSED BY THE TRIBUNAL BY FOLLOWING THE CBDT CIRCUL AR NO.17/2019 DATED 08/08/2019 ON THE GROUND THA T THE TAX EFFECT ON DISPUTED ISSUE WAS BELOW THE PRESCRIBED MONETARY LIMIT FOR P REFERRING AP PE AL BY THE REVENUE BEFORE TH IS TRIBU NAL. WE FIND THAT REVENUE HAD M A NO . 79 /MUM/ 2020 SHRI SHRIDHAR VENKATMALLAYA EGA 2 MENTIONED IN ITS MISCELLANEOUS APPLICATION THAT THE ADDITION MADE WAS ON ACCOUNT OF BOGUS PURCHASES WHICH WA S BASED ON INFORMATION RECEIVED FROM EXTERNAL AGENCIES AND THEREBY TH E S AME FALLS WITHIN THE EXCEPTION CLAUSE PROVIDED IN PA RA 10 (E) OF THE CBDT CIRCULAR. WE FIND THAT THE IMP UGNED APPEAL IS AGAINST THE CANCELLATION OF PENALTY LEVIED BY THE LD. AO ON THE ADDITION MADE ON ACCOUNT OF BOGUS PURCHASES. IN OUR CONSIDERED OPINI ON , THE SAID EXCE PTION CLAUSE PARA 10 (E) WO ULD APPLY ONLY FOR THE QUANTUM PROCEEDINGS AND NOT FOR PENALTY PROCEEDINGS. HENCE, WE HOLD THAT THE SAID AP PEAL DO ES NOT FALL UNDER THE EXCEPTION CLAUSE AND ACCORDING LY, THIS TRIBUNAL HAD RIGHTLY DISMISSED THE APPE A L OF THE REVENUE BY FOLLOWING THE AFORESA ID CBDT CIRCULAR. HENCE WE HOLD THAT NO ERROR COULD BE ATTRIBUTED IN THE ORDER OF THIS TRIBUNAL WARRA NTING ANY RECTIFICATION. 2. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE REVENUE IS DISMISSED. O RDER PRONOU NCE D ON 26 / 03 / 202 1 BY WAY OF PROPER M ENTIONING IN T HE NOTICE BOARD. SD/ - ( JUSTI CE P.P. BHATT ) SD/ - (M.BALAGANESH) PRESIDENT ACCOUNTANT MEMB ER MUMBAI ; DATED 26 / 03 / 202 1 KARUNA , SR.PS M A NO . 79 /MUM/ 2020 SHRI SHRIDHAR VENKATMALLAYA EGA 3 COPY OF THE O RDER FORWARDED TO : BY ORDER, ( ASSTT. REGIST RAR) ITAT, MUMBA I 1. THE APPELLANT 2. THE RESPON DENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITA T, MUMBAI 6. GUARD FILE. //TRUE COPY//