Income Tax Appellate Tribunal - Mumbai
Shiavam Machine Tools, Thane vs Acit Cir 3, Thane on 3 July, 2017
आयकर अपील य अ धकरण, मंब ु ई यायपीठ 'SMC', मंबु ई ।
IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES "SMC", MUMBAI Before Shri Shamim Yahya, Accountant Member ITA No.1021/Mum/2017 : Asst.Year 2009-2010 M/s.Shivam Machine Tools Asst.Commissioner of Income-tax Plot No.268, Nr.Mithila Tanks बनाम/ Circle 3 Pokhran Road No.1, Upvan Vs. Thane. Thane - 400 602.
PAN : AAEFS0853P.
(अपीलाथ /Appellant) ( यथ /Respondent) अपीलाथ क ओर से /Appellant by : Shri Mayur J.Gosarani यथ क ओर से /Respondent by : Shri V.Janardhanan (Sr.DR) सुनवाई क तार ख / घोषणा क तार ख / Date of Hearing : 29.06.2017 Date of Pronouncement : 03.07.2017 आदे श / O R D E R This appeal by the assessee is directed against the order of learned CIT (Appeals) dated 30.11.2016 and pertains to assessment year 2009- 2010.
2. In this appeal, the assessee is aggrieved by the confirmation of 100% out of bogus purchases.
3. I have heard both the Counsel and perused the records. The learned Departmental Representative referred to the decision of Hon'ble Gujarat High Court in the case of N.K.Industry v. DCIT [IT Appeal No.240 of 2003 dated 20.06.2016] wherein the Hon'ble Gujarat High Court had held that 100% out of bogus purchases should be added instead of 25% allowed by the ITAT.
2 ITA No.1021/Mum/2017.M/s.Shivam Machine Tools.
The Special Leave Petition against this order has been dismissed by the Hon'ble Apex Court by order dated 16.01.2017.
4. The learned Counsel of the assessee submitted that learned CIT(A) has passed combined order for three years. In two years, he has disallowed 25% and in this year he has disallowed 100%. I find that the learned CIT(A) cannot take an inconsistent stand. I modify his order and direct that the disallowance should be restricted to 25% of the bogus purchases. The learned Counsel of the assessee agreed to this.
5. In the result, the appeal of the assessee stands partly allowed.
Order pronounced on this 03rd day of July, 2017.
Sd/-
(Shamim Yahya) ACCOUNTANT MEMBER मुंबई Mumbai; दनांक Dated : 03rd July, 2017. Devdas* आदे श क त ल प अ े षत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2. यथ / The Respondent.
3. आयकर आयु त(अपील) / The CIT, Mumbai.
4. आयकर आयु त / CIT(A), Mumbai
5. वभागीय त न ध, आयकर अपील य अ धकरण, मुंबई / DR, ITAT, Mumbai
6. गाड फाईल / Guard file.
आदे शानस ु ार/ BY ORDER, स या पत त //True Copy// उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील य अ धकरण, मंब ु ई / ITAT, Mumbai