ITO 28(2)(2), NAVI MUMBAI vs. MANISH KISHORILAL CHATWANI, NAVI MUMBAI

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ITA 3835/MUM/2015Status: DisposedITAT Mumbai08 March 2017AY 2010-114 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 deleted the protective addition because a substantive addition was made in the hands of Tulip International for the same receipts. However, the matter was remanded to the Assessing Officer for examination of deposits.

What were the facts?

The Revenue appealed the deletion of a protective addition of Rs. 2,31,54,644/- made in the assessee's case. The assessee had initially denied ownership of the receipts, but later owned them in a related case (Tulip International) where a substantive addition was made.

What were the issues?

Whether a protective addition can survive when a substantive addition for the same amount has been made in another entity's case. The need for examination of deposits by lower authorities.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES, ‘C’ MUMBAI

Before: Shri Joginder Singh, & Shri Manoj Kumar Aggarwal

For Respondent: Mr. Rajat Mittal-DR
Hearing: 08/03/2017

आदेश की प्रयिलऱपप अग्रेपषि/Copy of the Order forwarded to : अऩीराथी / The Appellant (Respective assessee) 1. प्रत्मथी / The Respondent. 2. आमकय आमुक्त(अऩीर) / The CIT, Mumbai. 3. आमकय आमुक्त / CIT(A)- , Mumbai, 4. ववबागीम प्रयतयनगध, आमकय अऩीरीम अगधकयण, भुिंफई / DR, 5. ITAT, Mumbai गार्ा पाईर / Guard file. 6.

आदेशान सार/ BY ORDER, सत्मावऩत प्रयत //True Copy// उप/सहायक पुंजीकार (Dy./Asstt. Registrar) आयकर अपीऱीय अधिकरण, भुिंफई / ITAT, Mumbai Shri Manish Kishorilal Chatwani This order was directly dictated to the Sr.PS/PS on computer 1. Draft dictated on Sr.PS/PS 08/03/2017 2. Draft placed before author 08/03/2017 Sr.PS/PS 3. Draft proposed & placed before the 08/03/2017 JM/AM second member 4. Draft discussed/approved by JM/AM Second Member 5. Approved Draft comes to the Sr.PS/PS Sr.PS/PS 6. Date of pronouncement 08/03/2017 Sr.PS/PS 7. File sent to the Bench Clerk Sr.PS/PS 8. Date on which file goes to the Head Clerk 9. Date on which file goes to the AR 10. Date of dispatch of Order

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