YUSUF H. DEESAWALA,MUMBAI vs. ITO 17(3)(5), MUMBAI

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ITA 2028/MUM/2017Status: DisposedITAT Mumbai01 June 2017AY 2009-103 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that since the assessee's counsel was satisfied with the order of the CIT(A) and did not wish to pursue the appeal, the matter did not require further adjudication. The order of the CIT(A) was confirmed.

What were the facts?

The assessees are aggrieved by additions made on account of bogus purchases. The CIT(A) had sustained part of these additions.

What were the issues?

Whether the appeal needs further adjudication when the assessee's counsel is satisfied with the lower appellate authority's order.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SHRI SHAMIM YAHYA

For Appellant: Shri. Vimal Punmiya
For Respondent: Shri. Sumit Kumar

Date of Hearing –30.05.2017 Date of Order - 01.06.2017

O R D E R PER: SHAMIM YAHYA These are the appeals filed by two assessees wherein assessees are aggrieved by following additions on account of bogus purchases.

ITA No.2028 & 2029/Mum/2017 Mr. Yusuf H Deesawala Mr. Saifuddinbhai H Deesawala Amount (Rs.) 2028/Mum/2017 5% of 1,64,05,764 8,20,288.00 2029/Mum/2017 12.5% of 1,49,47,158 18,68,394.00 2030/Mum/2017 12.5% of 1,56,79,723 19,59,965.00

2.

Since he appeals were heard together and issues are common these are being consolidated and disposed of together.

3.

I have heard both the counsel and perused the records. I find that learned CIT-A in this case has sustained partly addition on account of bogus purchases.

4.

At the outset in this case learned counsel of the assessee submitted that he is satisfied with the additions sustained by the learned CIT-A. That he doesn't wish to pursue the appeal. Per Contra learned departmental representative submitted that in some of the recent appeals hundred percent disallowance of bogus purchases has been upheld by honourable high courts, and special leave petition against which have been dismissed by honourable apex court.

5.

Upon careful consideration, I find that these are appeals by the assessee. Hence if the learned counsel of the assessee is not aggrieved

ITA No.2028 & 2029/Mum/2017 Mr. Yusuf H Deesawala Mr. Saifuddinbhai H Deesawala by the order of learned CIT-A, the matter needs no further adjudication. Accordingly I confirm the order of learned CIT-A.

6.

In the result these appeals filed by the assessee stands dismissed Order pronounced in the Open Court on 01.06.2017

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