SHRI BHARAT NAVINCHANDRA GALA ,MUMBAI vs. ITO WARD 41(3)(1), MUMBAI

ITA 506/MUM/2025Status: DisposedITAT Mumbai20 February 2026AY 2012-13Bench: SMT. BEENA PILLAI ( (Judicial Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal condoned the delay, citing the criminal proceedings as a sufficient cause and prioritizing substantial justice over technicalities. It found that the lower authorities had not comprehensively examined the evidence and had made additions based on presumptions rather than proper analysis.

What were the facts?

The assessee's appeal was filed with a significant delay of 330 days, attributed to the assessee being preoccupied with criminal proceedings. The core of the dispute involves the disallowance of interest, the treatment of interest under the Project Completion Method (PCM), capitalization to Work-in-Progress, and the taxability of consideration received on the sale of a room.

What were the issues?

Whether the delay in filing the appeal should be condoned, and whether the lower authorities properly appreciated the evidence and applied the correct accounting methods for interest and property sale transactions.

Which sections of the Income-tax Act were involved?

Section 133(6),Section 131

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Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SMT. BEENA PILLAI

For Appellant: Shri Nimesh Thar, A/R
For Respondent: Shri Limbasiya Kavan Nareshkumar, Sr. DR
Hearing: 05.02.2026Pronounced: 20.02.2026

Per Smt. Beena Pillai, JM: The present appeal arises out of the order dated 26/12/2023 passed by the Ld. Commissioner of Income Tax (Appeals)/Addl./JCIT(A)-1, Coimbatore [hereinafter “the Ld.CIT(A)] for A.Y. 2012-13 on the following grounds of appeal:-

2.

At the outset, it is noted that, there is a delay of 330 days. There is a delay of 330 days in filing the present appeal. The Assessee has filed an affidavit explaining the reasons for the delay. It is stated that the impugned appellate order dated 26/12/2023 for A.Y. 2012-13 was e-received on 26/12/2023 and the appeal was required to be filed on or before 25/02/2024. However, due to the registration of an FIR bearing No. 0219 dated 09/03/2024 agains

The order continues below.

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