ZENAL JAINAM DEVELOPERS,MUMBAI vs. ACIT- CIRCLE 32(1), MUMBAI
| आयकर अपीलीय अिधकरण ायपीठ, मुंबई |
IN THE INCOME TAX APPELLATE TRIBUNAL
“G” BENCH, MUMBAI
BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT
&
SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER
I.T.A. No. 4358/Mum/2017
Assessment Year: 2012-13
M/s. Zenal Jainam Developers
Shop No. 6, Saurabh Apartments
Shahaji Raje Road, Nr. Bhuta
Ville Parle (East)
Mumbai - 400057
[PAN: AAAAD2573N]
Vs
Asstt. Commissioner of Income tax,
Range 25(3), Mumbai
अपीलाथ/ (Appellant)
यथ/ (Respondent)
I.T.A. No. 5518/Mum/2024
Assessment Year: 2012-13
M/s. Zenal Jainam Developers
Shop No. 6, Saurabh Apartments
Shahaji Raje Road, Nr. Bhuta
Ville Parle (East)
Mumbai - 400057
[PAN: AAAAD2573N]
Vs
Asstt. Commissioner of Income tax,
Circle-32(1), Mumbai
अपीलाथ/ (Appellant)
यथ/ (Respondent)
Assessee by :
Shri Shalin Divatia, C.A.
Revenue by :
Shri Pushkaraj Bhangepatil, Sr. D/R
सुनवाई की तारीख/Date of Hearing : 05/02/2025
घोषणा की तारीख /Date of Pronouncement: 05/02/2025
आदेश/O R D E R
PER NARENDRA KUMAR BILLAIYA, AM:
The captioned appeals by the assesse are preferred against two separate orders of the ld. CIT(A)-37, Mumbai & NFAC Delhi,
[hereinafter ‘the ld. CIT(A)’], dated 22/03/2017 and 09/09/2024
respectively, pertaining to AY 2012-23. 2. ITA No. 4358/Mum/2017, is the appeal against the quantum addition of Rs.30,00,000/- made by the AO u/s 68 of the Act.
I.T.A. No. 4358/Mum/2017
I.T.A. No. 5518/Mum/2024
Before us, the ld. Counsel for the assessee stated that the impugned advance from M/s. J.K. Corporation was taken in earlier assessment year i.e., FY 2007-08 relevant to AY 2008-09 and, therefore, no addition can be made u/s 68 of the Act for the year under consideration. 4. We find that the ld. CIT(A) has dismissed the appeal in limine without going into the merits of the case and without verifying whether the impugned advance was actually taken in FY 2007-08. Therefore, in the interest of justice and fairplay, we deem it fit to restore this issue to ld. CIT(A) with a direction to consider the documentary evidence and decide the issue afresh after affording reasonable and adequate opportunity of being heard to the assessee. 5. Since we have set aside the quantum addition to the file of the ld. CIT(A), ITA No. 5518/Mum/2024 is also restored to the file of the ld. CIT(A) being levy of penalty u/s 271(1)(c) of the Act, to be decided after deciding the appeal against the quantum addition. Both the appeals are allowed for statistical purposes. 6. In the result, both the appeals of the assessee are allowed for statistical purposes. Order pronounced in the Court on 5th February, 2025 at Mumbai. (SAKTIJIT DEY)
(NARENDRA KUMAR BILLAIYA)
VICE-PRESIDENT
ACCOUNTANT MEMBER
Mumbai, Dated 05/02/2025
*SC SrPs
*SC SrPs
*SC SrPs
*SC SrPs
I.T.A. No. 4358/Mum/2017
I.T.A. No. 5518/Mum/2024
आदेश की ितिलिप अेिषत /Copy of the Order forwarded to :
अपीलाथ / The Appellant 2. थ / The Respondent 3. संबंिधतआयकरआयु" / Concerned Pr. CIT 4. आयकरआयु" ) अपील ( / The CIT(A)- 5. िवभागीय ितिनिध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai, 6. गाड& फाई/ Guard file.
आदेशानुसार/ BY ORDER,