×Latest Case Laws on Income Tax by various Income Tax Appellate Tribunals in India
These are the latest case laws decided by various Income Tax Appellate Tribunals (ITAT) of India on Income Tax which have been published recently. The case laws are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.
The present five (5) Appeals have been filed by the assessee against the order of Commissioner of Income Tax (Appeals)-21, Mumbai, dated 19.12.16 and 01.03.16 for AY 2012-13 and 2011-12 respectively.
2. Since the issues raised in these appeals are identical, therefore, for the sake of convenience, these appeals are clubbed, heard and disposed of by this consolidated order.
3. At the very outset, we notice that assessee was seeking dates by moving adjournment applications on one pretext or the other. We notice that when the case was fixed on 26th July 2018, then on that date also, an application for adjournment was moved on the ground that as the C.A. of the assessee is out of town and therefore considering this fact, the matters were adjourned to 20.08.18. Even on the next date of hearing, again an adjournment application was moved on the ground that the details of the case are under preparation and therefore again considering the request of the assessee, matter was adjourned to 14 11.18. Even on that day again, an application for adjournment was moved on the ground that CA of the assessee is out of town and is not available, then again matter was adjourned to 20.12.18, but today again nobody had appeared on behalf of the assessee even inspite of calls.
From the records, we notice that there is a letter dated 19.12.18 on the court file, wherein the assessee had requested to set aside the matter to the file of AO. However nobody is present on behalf of the assessee to pursue or substantiate the contents of the appeal.
Therefore, in such circumstances, we are left with no other option except to proceed the assessee ex-parte. On the other hand Ld. DR is present in the court and is ready with arguments. Therefore we have decided to proceed with the hearing of the case ex-parte with the assistance of the Ld. DR and the material placed on record. I.T.A. No. 1678/Mum/2017 (AY 2012-13)
4. First of all we take up assessee’s appeal in I.T.A. No. 1678/Mum/2017 (AY 2012-13) on the grounds mentioned herein below:-
1. That on facts of the case and in law the Ld. C.I.T.(Appeals) has erred in upholding the validity of the reassessment proceeding initiated u/s. 147 by issue of notice u/s. 148 on wrong facts and in unlawful manner.
2. That the Ld. C.I.T.(Appeals) has erred in confirming the disallowance of Rs. 9,02,640/- being 12.5% of the purchases of trading goods from the alleged suspicious hawala dealers of Rs. 72,21,106/- without properly appreciating the facts of the case and law. That both the appeal grounds are independent grounds & without prejudice to each other.