SPEEDKING COURIER SERVICES PVT LTD,MUMBAI vs. INCOME TAX OFFICER-4(3)(3), MUMBAI
In the result, the appeal is allowed
ITA 4677/MUM/2023[2012-13]Status: DisposedITAT Mumbai29 May 2024AY 2012-13
Bench: Shri Amit Shukla & Shri Ratnesh Nandan Sahayassessment Year: 2012-13 Speedking Courier Income Tax Officer- Services Pvt. Ltd. 4(3)(3), 25/27, Old Hanuman Galli, Room No. 648, Vs. 1St Cross Lane, 6Th Floor, Kalbadevi, Aayakar Bhavan, Mumbai- 400 002. Maharshi Karve Marg, Mumbai- 400 020 Pan: Aaics3715M (Appellant) (Respondent) Present For: Assessee By : Shri K. Gopal, A.R. Revenue By : Shri P. D. Chougule (Addl. Cit) Sr., D.R. Date Of Hearing : 16 . 05 . 2024 Date Of Pronouncement : 29 . 05 . 2024 O R D E R Per : Ratnesh Nandan Sahay: 1. The Appellant Has Filed This Appeal Against The Order Of The Ld. Income Tax Officer- 4(3)(3) Mumbai By Raising Following Grounds Of Appeal: “The Addition Of Rs.1,53,00,000/- Made Under Section 68 Of The Act Is Not Justified. 1. The Ld Cit(A) Is Erred In Confirming The Addition Of Rs. 1,53,00,000/- Made By The Ld. A.O. Under Section 68 Of The Act Without Appreciating That The Basic Condition To Invoke The Provisions Of Section 68 Are Not Satisfied In The Present Case. Hence, The Addition Made Under Section 68 Of The Act Is Not In Accordance With The Law & The Same May Be Deleted.
For Appellant: Shri K. Gopal, A.RFor Respondent: Shri P. D. Chougule (Addl. CIT) Sr., D.R
Section 142(1)Section 143Section 143(2)Section 147Section 148Section 151(1)Section 234BSection 68
144A by Ld. Additional commissioner of Income-tax range 4(3) Mumbai and came to the finding that the assessee company has not returned the money back to M/s. Averina International Resorts Pvt. Ltd. on the same day i.e.
24/11/2011 and in fact, the amount, in question, was refunded in Mr.
Francis Xavier Furtado's bank account
