M/S Parthiv Enterprises, Mumbai vs. ITO 17(2)(5), Mumbai
In the result, the appeal filed by the assessee is hereby ordered to be dismissed
ITA 4505/MUM/2019[2014-15]Status: DisposedITAT Mumbai25 Apr 2022AY 2014-15
Bench: Shri Amar Jit Singh & Shri S. Rifaur Rahmanassessment Year: 2014-15 M/S. Parthiv Enterprises, Ito-17(2)(5), 83 Ramesh Bhuvan Nakhoda Room No.123-A, 1St Floor, Street, Vs. Pydhonie, Aayakar Bhavan, Mumbai – 400 003 Mumbai – 400 020 Pan: Aaefp8201A (Appellant) (Respondent) Present For: Assessee By : None Revenue By : Shri R.A. Dhyani, Sr. A.R. Date Of Hearing : 22.03.2022 Date Of Pronouncement : 25.04.2022 O R D E R Per Amar Jit Singh: The Assessee Has Filed The Above Mentioned Appeal Against The Order Dated 11.03.2019 Passed By The Commissioner Of Income Tax (Appeals) [Hereinafter Referred To As The Ld. Cit(A)] For The Assessment Year 2014-15. 2. The Assessee Has Raised The Following Grounds: “1. The Ld. Cit(A) Erred In Disallowing The Interest Free Loans Of Rs.3,35,23,178/- Out Of Rs.12,19,54,637/- & Thereby Erred In Treating The Same As Loans Taken For Non-Business Purposes. 2. The Ld.Cit(A) Erred In Disallowing & Adding The Proportionate Interest Paid Of Rs.22,24,357/- Out Of The Total Interest Paid Of Rs.80,92,036/- To The Total Income Of The Assessee & Thereby Added The Same To The Total Income Of The Assessee & Thereby Erred In Treating The Same For Non Business Purpose. 3. The Ld. Cit(A) Erred In Confirming The Addition Of The Genuine Loan Received From The Mis K.C. Kapadia & Sons(P) Ltd Of Rs.39,34,639/- To The Total Income Of The Assessee & Thereby Erred In Treating The Same For Non-Business Purpose.
For Appellant: NoneFor Respondent: Shri R.A. Dhyani, Sr. A.R
Section 10(34)Section 143(1)Section 143(2)Section 2(22)(e)Section 234ASection 271(1)(c)Section 36(1)(iii)
…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “C”, MUMBAI BEFORE SHRI AMAR JIT SINGH, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2014-15 M/s. Parthiv Enterprises, ITO-17(2)(5), 83 Ramesh Bhuvan Nakhoda Room No.123-A, 1st Floor, Street, Vs. Pydhonie, Aayakar Bhavan, Mumbai – 400 003 Mumbai – 400 020 PAN: AAEFP8201A (Appellant) (Respondent) Present for: Assessee by : None Revenue by : Shri R.A. Dhyani, Sr. A.R. Date of Hearing : 22.03.2022 Date of Pronouncement : 25.04.2022 O R D E R Per Amar Jit Singh, Judicial Member: The assessee has filed the above mentioned appeal again…
