Pride Paradise and Development Pvt. Ltd, Mumbai vs. Income Tax Office -WD 7(3) (1), Mumbai
In the result, the appeal of the assessee is allowed
ITA 50/MUM/2022[2007-08]Status: DisposedITAT Mumbai29 Dec 2022AY 2007-08
Bench: Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.50/Mum/2022 (निर्धारण वर्ा / Assessment Years: 2007-08) Pride Paradise & बिधम/ Ito, Ward-7(3)(1) Room No. 126J, 1St Floor, Development Pvt. Ltd. Vs. 601, Orbit Plaza, New Aayakar Bhavan, Marine Prabhadevi Road, Lines, Mumbai-400020. Prabhadevi, Mumbai- 400025. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaccp3042N (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Bhupendra Shah Revenue By: Shri Mahender Ahuja सुनवाई की तारीख / Date Of Hearing: 22/11/2022 घोषणा की तारीख /Date Of Pronouncement: 29/12/2022 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi Dated 17.11.2021 For The Assessment Year 2007-08. 2. At The Outset, The Ld. Ar Of The Assessee Has Challenged The Action Of The Ld. Cit(A) Confirming The Action Of The Ao By Which The Ao Has Made An Addition Of Rs.6,00,000/-. 3. Brief Facts Are That The Assessee Had Filed Its Return Of Income For Ay. 2007-08 On 31.10.2007 Declaring Total Income Of Rs.4,820/-. Thereafter, The Return Of Income Was Scrutized U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Vide Order Dated 09.12.2009 Accepting The Return Of Income. Later On, The Ao Received An Information From Dgit (Inv.), Mumbai Pursuant To A Search Carried
For Appellant: Shri Bhupendra ShahFor Respondent: Shri Mahender Ahuja
Section 143(3)Section 147Section 148
…ection 147 of the Act which is against the binding order of the Hon’ble Supreme Court in the case of GKN Driveshafts (India) Ltd. Vs. DCIT (2003) 259 ITR 19 (SC) as well as against the Hon’ble Jurisdictional High Court in the case of Asian Paint Ltd. Vs. DCIT 296 ITR 90 wherein the Hon’ble Bombay High Court has held that the AO had to dispose of the objection raised by the assessee as well as allow the assessee four (4) weeks time before passing the re-assessment order (So that assessee can challenge the action of the AO rejecting the objection by preferring writ petition before the Hon’ble High Court). According…
