ACIT - 19 (3), MUMBAI vs. RISHABH STEEL HOUSE, MUMBAI

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ITA 5700/MUM/2018Status: DisposedITAT Mumbai05 February 2020AY 2011-123 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to restrict the addition to 5%. This was based on the principle of consistency and following its own prior orders in the assessee's own case.

What were the facts?

The revenue appealed against the CIT(A)'s order restricting additions on account of alleged bogus purchases. The CIT(A) had reduced the addition from 12.5% to 5% based on previous tribunal decisions.

What were the issues?

Whether the CIT(A) erred in restricting additions made on the basis of information from external sources, and whether the tribunal should follow its previous consistent decisions.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Ms. Rutuja Pawar-Ld. AR
For Respondent: Ms. Jothilakshmi Nayak-Ld. DR

आयकरअपील सं./ (िनधा"रण वष" / Assessment Year: 2011-12) ACIT– 19(3) M/s Rishab Steel House बनाम/ Matru Mandir 101-102, Rishabh House Tardeo Road 301, Duncan Road Vs. Mumbai M.A.Road, Mumbai – 400 004 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACFR-2807-C (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee by : Ms. Rutuja Pawar-Ld. AR Revenue by : Ms. Jothilakshmi Nayak-Ld. DR सुनवाई की तारीख/ : 04/02/2020 Date of Hearing घोषणा की तारीख / : 05/02/2020 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by revenue for Assessment Year [in short referred to as ‘AY’] 2011-12 contest the order of Ld. Commissioner of Income- Tax (Appeals)-30, Mumbai, [in short referred to as ‘CIT(A)’] dated 16/07/2018 which is common order for AY 2007-08 & 2011-12. The grounds raised by revenue read as under: -

2. Rishabh Steel House Assessment Year :2011-12 Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in restricting the addition made by the AO on the basis of information received from external sources in the nature of law enforcement agencies?

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