Court :
ITAT Mumbai
Brief :
Aforesaid cross-appeals for Assessment Year (AY) 2011-12 arises out of the order of learned Commissioner of Income-Tax (Appeals)-28.
Citation :
I.T.A. No.2828/Mum/2016
IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI
BEFORE HON’BLE SHRI AMARJEET SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing through Video Conferencing Mode)
I.T.A. No.2828/Mum/2016
Assessment Year: 2011-12
Vilas Transport Company 103/104, Vyapar Bhavan P. Demello Road, Carnac Bunder, Mumbai-400 009
PAN/GIR No. AAAFV-0760-G
Appellant
vs
ITO – 13(2)(1), Aaykar Bhavan M. K. Road Mumbai-400 020
Respondent
I.T.A. No. 3779/Mum/2016
Assessment Year: 2011-12
Assessee by:Shri Ajay Singh– Ld. AR
Revenue by: Ms. Usha Gaikwad – Ld. DR
Date of Hearing :27/07/2021
Date of Pronouncement: 02/08/2021
ORDER
Aforesaid cross-appeals for Assessment Year (AY) 2011-12 arises out of the order of learned Commissioner of Income Tax (Appeals)-28.
2.The assessee is aggrieved by confirmation of certain disallowance u/s 40(a)(ia) and confirmation of disallowance on account of mismatch in receipts as reflected by the assessee vis-à-vis receipts as reflected in Form No.26AS.
3.The revenue is aggrieved by deletion of addition of Rs.346.61 Lacs as made by Ld. AO u/s 40A(3). The relevant facts are that the assessee was engaged as clearing agent on behalf of its principal. The assessee reflected gross receipts of Rs.947.89 Lacs and claimed expenditure of Rs.898.44 Lacs.
4.The assessee’s appeal stands allowed for statistical purposes whereas the appeal of the revenue stands dismissed. Order pronounced on 2nd August, 2021.
Please find attached the enclosed file for the full judgement.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
