Binnaifer Kohli, Mumbai vs. ACIT CC 25, Mumbai
In the result, both the appeals of the assessee are allowed
ITA 4334/MUM/2014[2004-05]Status: DisposedITAT Mumbai24 Feb 2017AY 2004-05
Bench: Shri Mahavir Singh, Jm & Shri Rajesh Kumar, Am श्री महाविर स िंग, न्याययक दस्य एििं श्री राजेश कुमार, ऱेखा दस्य के मक्ष Smt.Binnaifer Kohli, Asstt. Commissioner Of Income 1101-1106, Occean View Bldg., Tax, Cc-25, फनधभ/ Deccan Chs, Union Park, Mumbai. Vs. Khar (W), Mumbai-400052 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) Smt.Binnaifer Kohli, Asstt. Commissioner Of 1101-1106, Occean View Bldg., Income Tax, Cc-25, फनधभ/ Deccan Chs, Union Park, Mumbai. Vs. Khar (W), Mumbai-400052 स्थधमी रेखध सं./ Pan : Abwpn5134E (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) : अऩीरधथी की ओय से /Assessee By : Shri Vipul Joshi Ms.Keyuri Desai प्रत्मथी की ओय से/Revenue By : Shri N P Singh सुनवधई की तधयीख /Date Of Hearing : 7.2.2017 घोषणध की तधयीख /Date Of : 24. 2.2017 Pronouncement आदेश / O R D E R Per Rajesh Kumar, A. M: The Appeal Bearing Ita No.3832/Mum/2012 Filed By The Assessee Against The Order Dated 29.2.2012 Passed By The Ld.Cit(A), 39, Mumbai & The Appeal Bearing Ita No.4334/Mum/2014 Is Also Filed By The Assessee Against The Order Dated 3.3.2014 Passed By The Ld.Cit(A) Against The Penalty Imposed By The Ao U/S 271(1)( C ) Of The Act. Both The Appeals Pertain To The Assessment Year 2004-05. Since These Appeals Belong To The Same Assessee, They Are Clubbed Together, Heard Together & Are Being Decided By This Consolidated Order, For The Sake Of Convenience. 2. The Issue Raised In The First Grounds Of Appeal Is Against The Confirmation Of Addition Of Rs.23,78,000/- As Made By The Ao Under Section 68 Of The Income Tax Act, 1961 In The Assessment Framed Under Section 143(3) Read With Section 153A Of The Act Even Though There Was No Incriminating Material Or Evidence For Doubting The Genuineness Of The Gift Found Or Seized During The Course Of Search.
For Appellant: Shri Vipul JoshiFor Respondent: Shri N P Singh
Section 132Section 132(1)Section 139(1)Section 143(1)Section 143(3)Section 153ASection 271(1)Section 68
…unal in favour of the assessee qua the gift received from foreign resident. The l.d AR also relied on the series of judgments such as CIT V/s Continental Warehousing Corporation (Nhava Sheva) Ltd. [2015] 374 ITR 645 (Bombay) and CIT v.Anil Kumar Bhatia [2013] 352 ITR 493 (Delhi) and submitted that ratio laid down by the above mentioned decisions be followed in the assessee’s case and the addition made by the AO u/s 153A r.w.section 143(3) be deleted. On the contrary, the ld.DR heavily relied on the orders of authorities below. 5. We have heard the rival contentions and perused the material placed before us inclu…
