SHREENATH MOTORS P.LTD, MUMBAI v. DCIT 5(3), MUMBAI

ITA 3689/MUM/2015 | 2010-2011
Pronouncement Date: 01-11-2017 | Result: Allowed

Appeal Details

RSA Number 368919914 RSA 2015
Bench Mumbai
Appeal Number ITA 3689/MUM/2015
Duration Of Justice 2 year(s) 4 month(s) 16 day(s)
Appellant SHREENATH MOTORS P.LTD, MUMBAI
Respondent DCIT 5(3), MUMBAI
Appeal Type Income Tax Appeal
Pronouncement Date 01-11-2017
Appeal Filed By Assessee
Tags No record found
Order Result Allowed
Bench Allotted B
Tribunal Order Date 01-11-2017
Assessment Year 2010-2011
Appeal Filed On 15-06-2015
Judgment Text
ITA.NO.3689/MUM/2015 SHREENATH MOTORS PRIVATE LIMITED ASSESSMENT YEAR-2010-11 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH MUMBAI . . BEFORE SHRI D.T. GARASIA JM AND SHRI MANOJ KUMAR AGGARWAL AM ./I.T.A. NO.3689/MUM/2015 ( / ASSESSMENT YEAR: 2010-11) SHREENATH MOTORS PRIVATE LTD. C WING UNIT NO.101 1 ST FLOOR WATERFORD BUILDING C.D.BURFIWALA ROAD JUHU(GALLI) ANDHERI(WEST) MUMBAI-400 058 / VS. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(3) MUMBAI- 400 062 ! ./ ./PAN/GIR NO. AAFCS-0033-D ( !# /APPELLANT ) : ( $%!# / RESPONDENT ) ASSESSEE BY : S.C.TIWARI & RUTUJA PAWAR LD.ARS REVENUE BY : SUMAN KUMAR LD. DR / DATE OF HEARING : 25/10/2017 / DATE OF PRONOUNCEMENT : 01/11 /2017 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. THE CAPTIONED APPEAL BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2010-11 ASSAILS THE ORDER OF THE LD. COMMISSIONER O F INCOME-TAX (APPEALS)-10 [CIT(A)] MUMBAI APPEAL NO. CIT(A)-10/DCIT- 5(3)/221/2012-13 DATED 16/03/2015 QUA CONFIRMATION OF CERTAIN ADDITIONS. THE ASSESSMENT FOR IMPUGNED AY WAS FRAMED BY LD. DEPUTY ITA.NO.3689/MUM/2015 SHREENATH MOTORS PRIVATE LIMITED ASSESSMENT YEAR-2010-11 2 COMMISSIONER OF INCOME TAX CIRCLE-5(3) MUMBAI [AO ] U/S 143(3) OF THE INCOME TAX ACT 1961 ON 31/12/2012. 2. THE ASSESSEE IN THE QUANTUM ASSESSMENT HAS SUF FERED ADDITION OF RS.3 39 191/- ON ACCOUNT OF DIFFERENCE IN GROSS RECEIPTS REFLECTED BY ASSESSEE VIS--VIS AMOUNT REFLECTED IN ANNUAL INFORMATION RETURN [AIR] . SIMILARLY THE ASSESSEE HAS SUFFERED ADDITION OF RS .35 674/- ON ACCOUNT OF PURCHASES MADE FROM AN ENTITY WHICH WAS LISTED A S HAWALA DEALER AS PER VAT AUTHORITIES. THE SAME HAS SINCE BEEN CONFIRMED BY L D. CIT(A) VIDE IMPUGNED ORDER DATED 16/03/2015 SINCE THE ASSE SSEE COULD NOT SUBSTANTIATE THE SAME. 3. THE LD. COUNSEL FOR ASSESSEE [AR] AT THE OUTSET CONTENDED THAT THE AIR INFORMATION WAS NOT MADE AVAILABLE TO THE ASSESSEE AND THEREFORE THE SAME COULD NOT BE RECONCILED. FURTHE R THE LD. AR PLEADED FOR ANOTHER OPPORTUNITY TO SUBSTANTIATE THE PURCHAS E TRANSACTIONS. THE LD. DR DID NOT RAISE ANY SERIOUS OBJECTIONS AGAINST THE SAME. 4. AFTER HEARING WE FIND THE MATTER TO BE FACTUAL ONE AND THEREFORE DEEM IT FIT TO RESTORE THE SAME TO THE FILE OF LD. AO WITH A DIRECTION TO PROVIDE THE RELEVANT AIR INFORMATION RELIED UPON BY LD. AO TO THE ASSESSEE. THE ASSESSEE IN TURN IS DIRECTED TO REC ONCILE THE SAME AND ALSO SUBSTANTIATE THE PURCHASES TRANSACTIONS. 5. RESULTANTLY THE ASSESSEES APPEAL STANDS ALLOWE D FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 01 ST NOVEMBER 2017. ITA.NO.3689/MUM/2015 SHREENATH MOTORS PRIVATE LIMITED ASSESSMENT YEAR-2010-11 3 SD/- SD/- (D.T. GARASIA) (MANOJ KUMAR AGGARW AL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 01.11 .2017 SR.PS:- THIRUMALESH ! / COPY OF THE ORDER FORWARDED TO : 1. !# / THE APPELLANT 2. $%!# / THE RESPONDENT 3. + ( ) / THE CIT(A) 4. + / CIT CONCERNED 5. $'- - / DR ITAT MUMBAI 6. . / GUARD FILE / BY ORDER / (DY./ASSTT. REGISTRAR) / ITAT MUMBAI