ANIDHI IMPEX P.LTD,MUMBAI vs. DCIT 4(1), MUMBAI
In the result, the appeal of the assessee is partly allowed
ITA 3998/MUM/2013[2009-10]Status: DisposedITAT Mumbai14 Aug 2023AY 2009-10
Bench: Shri Vikas Awasthy & Shri Amarjit Singhanidhi Impex Pvt. Ltd. Vs. Dy. Comm. Of It-4(1) C/O Asj & Company Llp, Room No. 638, Aaykar 201, Rajshila, 597, Jss Bhavan, Churchgate, Road, Near Marine Lines, Mumbai – 400020 Mumbai – 400 002 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaeca7748J Appellant .. Respondent [ Appellant By : Amit Porwal Respondent By : Manoj Kumar Sinha Date Of Hearing 18.05.2023 Date Of Pronouncement 14.08.2023 आदेश / O R D E R Per Amarjit Singh (Am): This Appeal Filed By The Assesse Is Directed Against The Order Passed By The Ld. Cit(A)-8, Mumbai, Dated 21.03.2013 For A.Y. 2009- 10. The Assessee Has Raised The Following Concise Ground Of Appeal Vide Letter Dated 26.03.2019: “1. On The Facts & Circumstances Of The Case & In Law Cit (A) Erred In Confirming The Action Of A.O. Of Treating The Loss Of Rs.1,84,26,264/- Incurred On Mcx Transactions As Speculative Loss U/S 43 (5) Of The Income Tax Act. 1961. 2. The Cit (A) Erred In Not Adjudicating The Ground Relating To Disallowance Of Expenses Rs. 7,851/; & Rs.1,62,819/- Incurred On Security Transaction Tax & Other Charges Of Mcx Respectively, Considered By The A.O. As Speculative. 3. Cit (A) Erred In Not Adjudicating The Ground Relating To The Disallowance Of Expenses Of Rs. 10,00,000/- By The A.O. On Estimation & Ad Hoc Basis Stating As Related To The Mcx Transactions & Hence Speculative In Nature, Without Even Confronting The Appellant Of This Proposed Action By Issuing Show Cause.
For Appellant: Amit PorwalFor Respondent: Manoj Kumar Sinha
Section 143(2)Section 43Section 43(5)Section 73
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Anidhi Impex Pvt. Ltd. Vs. DCIT-4(1)
IN THE INCOME TAX APPELLATE TRIBUNAL
“A
