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Income Tax Appellate Tribunal, “E”, BENCH MUMBAI
Before: SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM Shri Sukharaj B Nahar (HUF)
आदेश / O R D E R PER R.C.SHARMA (A.M):
This is an appeal filed by the assessee against the order of CIT(A)- 40, Mumbai dated 30/06/2014 for A.Y.2006-07 in the matter of order passed u/s.143(3) r.w.s. 153C of the IT Act.
Only grievance of assessee relates to CIT(A)’s action in confirming the addition of Rs.19,90,675/- made by the AO, being the final debit and credits in the books of the firm M/s. Noble Constructions which have been transferred to the capital account on dissolution of the said firm, without any proper and justifiable basis.
Shri Sukhraj B Nahar 3. Rival contentions have been heard and record perused. The assessee is an HUF and has income from business and income from other sources. During the year assessee has credited following amounts in his capital account. a. S D Mehta (Due to death) Rs.2,38,192/- b. Suresh Kumar Vanigota Rs.1,97,206/- c. Brijesh Enterprises Rs.68,04,500/- d. Noble Construction (50%) Rs.2,01,580/- e. Noble Construction Rs.19,90,675/- Total Rs.94,32,153/-