DCIT Cent. Cir. -5(3) (Erstwhile DCIT Cent. Cir. -36), Mumbai vs. Sumer Builders, Mumbai
In the result, appeal of the assessee is partly allowed as indicated above and appeal of the Revenue is dismissed
ITA 5130/MUM/2016[2011-12]Status: DisposedITAT Mumbai08 Jan 2021AY 2011-12
Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Blem/S. Sumer Builders V. Dy. Commissioner Of Income-Tax Central Circle – 5(3) 201, Commerce House {Erstwhile Dcit, Central Circle – 36} 140, Nm Road, Fort Room No. 1906, 19Th Floor Mumbai – 400 023 Air India Building, Nariman Point Mumbai – 400 021 Pan: Aaafs2829R
For Appellant: Shri Nishit GandhiFor Respondent: Shri A. Mohan
Section 36(1)(iii)
…only in the hands of the person who has offered undisclosed income. Ld. Counsel for the assessee stated that such an approach was contrary to the judicial precedents in the case of Elite Developers v. DCIT [73 ITD 379 (Nagpur)], J B Education Society v. ACIT [28 ITR (Trib) 284 (Hyderabad)] and Rajni M Patel v. DCIT [43 ITR (Trib) 628 (Ahmedabad)]. Ld. Counsel for the assessee therefore urged that the denial of application of income by the Assessing Officer and its affirmation by the Ld.CIT(A) is bad in law and such an action needs to be reversed. 33. Ld. CIT, DR argued that during the course of search no documen…
