HARISH M THAKKAR, MUMBAI v. ITO 23(1)(4), MUMBAI

CO 124/MUM/2014 | 2009-2010
Pronouncement Date: 20-11-2014 | Result: Allowed

Appeal Details

RSA Number 12419923 RSA 2014
Assessee PAN AABPT2324B
Bench Mumbai
Appeal Number CO 124/MUM/2014
Duration Of Justice 5 month(s) 1 day(s)
Appellant HARISH M THAKKAR, MUMBAI
Respondent ITO 23(1)(4), MUMBAI
Appeal Type Cross Objection
Pronouncement Date 20-11-2014
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted Not Allotted
Tribunal Order Date 20-11-2014
Assessment Year 2009-2010
Appeal Filed On 18-06-2014
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNALH BENCH MUMBAI !'. $ %& % ' BEFORE SHRI JOGINDER SINGH JM AND SHRI D. KARUNAKARA RAO AM ITA NOS.2504/MUM/2013 ASSESSMENT YEARS-2009-10 INCOME - TAX OFFICER - 23(1)(4) ROOM NO.105 1 ST FLOOR C-10 BUILDING PRATYAKSHAKAR BHAVAN B.K.C. BANDRA(EAST) MUMBAI-400051 ( ( ( ( / VS. SHRI HARISH M. THAKKAR SHED NO.2 GALA NO.5 HANUMAN SILK MILL COMPOUND LBS MARG KANJURMARG(WEST) MUMBAI-400078 ) %& ./ PAN :AABPT2324B ( / REVENUE ) .. ( *+) / RESPONDENT ) C.O. NO.124/MUM/2014 ARISING OUT OF ITA NO.2504/MUM/2013 ASSESSMENT YEARS-2009-10 SHRI HARISH M. THAKKAR SHED NO.2 GALA NO.5 HANUMAN SILK MILL COMPOUND LBS MARG KANJURMARG(WEST) MUMBAI-400078 ( ( ( ( / VS. INCOME - TAX OFFICER - 23(1)(4) ROOM NO.105 1 ST FLOOR C-10 BUILDING PRATYAKSHAKAR BHAVAN B.K.C. BANDRA(EAST) MUMBAI-400051 ) %& ./ PAN :AAAFH2700G ( ) / APPELLANT ) .. ( / REVENUE ) ) - . % / ASSESSEE BY: SHRI KAPLESH TURALKAR - . % / REVENUE BY : SHRI JEETENDRA KUMA R - DR 2 SHRI HARISH M.THAKKAR ( - /'& / DATE OF HEARING 20/11/2014 01 - /'& / DATE OF PRONOUNCEMENT : 20/11/2014 %2 / O R D E R PER JOGINDER SINGH JM: THE REVENUE IS AGGRIEVED BY THE IMPUGNED ORDER DATE D 24/1/2013 OF THE LD. FIRST APPELLATE AUTHORITY ON THE GROUND WHE THER THE LD. COMMISSIONER OF INCOME TAX (APPEALS) IS JUSTIFIED I N DELETING THE ADDITION OF RS.13 00 000/- BEING INVESTMENT IN THE PROPERTY WHI CH WAS NOT PROVED BY THE ASSESSEE DURING THE ASSESSMENT PROCEEDINGS. THE ASSESSEE HAS ALSO PREFERRED CROSS OBJECTION NO.124/MUM/2014 (ARISING OUT OF ITA NO.2504/M/13) CHALLENGING THE ORDER OF THE LD. COMM ISSIONER OF INCOME TAX (APPEALS) WHEREIN THE CLAIM OF RS.73 37 080/- MADE AS ADDITION ON ACCOUNT OF UNEXPLAINED INVESTMENT U/S. 69 OF THE INCOME TAX ACT 1961(HEREINAFTER THE ACT) FOR PURCHASE OF IMMOVABLE PROPERTY IN THE FORM OF RESIDENTIAL FACTS DISREGARDING MATERIAL FACTS. 2. AT THE TIME OF HEARING WE HAVE HEARD SHRI KALPES H TURALKAR LD. COUNSEL FOR THE ASSESSEE AND SHRI JEETENDER KUMAR L D. DR. THE ASSESSEE HAS FILED AN APPLICATION (DATED 1/7/2014) FOR ADMIS SION OF ADDITIONAL EVIDENCE UNDER RULE 29 OF THE INCOME TAX RULES 1962 . THE LD. COUNSEL READ OVER THE CONTENTS OF THE APPLICATION BY SUBMITTING THAT THE DOCUMENT CONTAINED IN PARA-5 OF THE APPLICATION HAS A DIRECT BEARING ON THE ISSUE INVOLVED WHICH IS CRUCIAL FOR REACHING TO A TRUE CO NCLUSION. THE ASSESSEE HAS 3 SHRI HARISH M.THAKKAR ALSO RELIED UPON THE DECISION FROM HONBLE MADHYA PRADESH HIGH COURT IN CIT VS. SATYA SETIA (143 ITR 486) WHEREIN IT WAS HELD THAT THE APPELLATE TRIBUNAL BEING THE FINAL FACT FINDING BODY UNDER THE INCOME TAX ACT HAS THE DISCRETIONARY POWERS TO TAKE ADDITIONAL EVIDENC E IN THE INTEREST OF JUSTICE. FURTHER RELIANCE WAS PLACED UPON THE DECIS ION IN CIT VS. G.V. RATTIAH & CO.(256 ITR 351) . IN VIEW OF THIS FACTS AND THE JUDICIAL PRONOUNCEMENT WE ADMIT THE APPLICATION UNDER RULE 2 9 OF THE INCOME TAX RULES 1962. HOWEVER TO SAFE GUARD THE INTEREST OF BOTH SIDES AND KEEPING IN VIEW THE PRINCIPLE OF NATURAL JUSTICE WE REMAND THE APPEAL OF THE REVENUE AS WELL AS THE CROSS OBJECTION OF THE ASSESSEE TO THE FILE OF THE LD. ASSESSING OFFICER TO EXAMINE THE CLAIM OF THE ASSESSEE AND DE CIDE IN ACCORDANCE WITH LAW. NEEDLESS TO MENTION HERE THAT DUE OPPORTUNITY OF BEING HEARD BE PROVIDED TO THE ASSESSEE WITH FURTHER LIBERTY TO FU RNISH EVIDENCE IF ANY IN SUPPORT OF HIS CLAIM. THUS THE APPEAL OF THE REVEN UE AS WELL AS THE CROSS OBJECTIONS OF THE ASSESSEE ARE ALLOWED FOR STATISTI CAL PURPOSES ONLY. 3. FINALLY THE APPEAL OF THE REVENUE AND THE CROSS OBJECTION OF THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES O NLY. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF THE LD REPRESENTATIVES FROM BOTH SIDES AT THE CONCLUSION OF THE HEARING ON 20 TH NOVEMBER 2014. SD/- SD/- D.KARUNAKARA RAO JOGINDER SINGH ACCOUNTANT MEMBER J UDICIAL MEMBER MUMBAI; 3( DATED.- 20/11/2014 JV. SR.P.S. 4 SHRI HARISH M.THAKKAR %2 %2 %2 %2 - -- - */4 */4 */4 */4 5%41/ 5%41/ 5%41/ 5%41/ / COPY OF THE ORDER FORWARDED TO : 1. ) / THE APPELLANT 2. *+) / THE RESPONDENT. 3. 6 ( ) / THE CIT(A)- CONCERNED MUMBAI 4. 6 / CIT CONCERNED MUMBAI 5. 4 7 */( / DR ITAT MUMBAI E BENCH 6. !8 9 / GUARD FILE. %2( %2( %2( %2( / BY ORDER +4/ */ //TRUE COPY// : :: : / (DY./ASSTT. REGISTRAR) / ITAT MUMBAI.