BINAYAK TEX PROCESSORS LTD MUMBAI vs DCIT CEN CIR 39 MUMBAI

आयकर आयकर आयकर आयकर अपील य अपील य अपील य अपील य अ धकरण अ धकरण अ धकरण अ धकरण, , , , मुंबई मुंबई मुंबई मुंबई, “बी” यायपीठ यायपीठ यायपीठ यायपीठ मुंबई मुंबई मुंबई मुंबई म। म। म। म। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SRI H.L.

KARWA, PRESIDENT, AND SHRI N.K.BILLAIYA, AM आयकर अपील सं./I.T.A.

No.

7851/Mum/2010 ( नधा रण नधा रण नधा रण नधा रण वष वष वष वष / Assessment Year : 2005-06) आयकर अपील सं./I.T.A.

7852/Mum/2010 ( नधा रण नधा रण नधा रण नधा रण वष वष वष वष / Assessment Year : 2006-07) Binayak Tex Processors Ltd.

C/O.

Shankarlal Jain & Associates, 12,Engineer Building, 265, Princess Street, Mumba-400002 बनाम बनाम बनाम बनाम/ Vs.

DCIT, Central Circle-39, Mumbai !थायी लेखा सं./PAN : AAACB1554D (अपीलाथ% /Appellant) .. (&'यथ% / Respondent) अपीलाथ% क( ओर से/ Appellant by : Shri S.L.Jain &'यथ% क( ओर से / Respondent by : Shri Pritam Singh सुनवाई क( तार ख /Date of Hearing : 10-09-2013 घोषणा क( तार ख /Date of Pronouncement : 10-09-2013 आदेश / O R D E R PER BENCH: These two appeal by the assessee are directed against two different orders of the CIT(A)-41, Mumbai, dated 06.10.2010, pertaining to A.Y.

2005- 06 and 2006-07 as common issues are involved in both these appeals.

They were heard together and disposed of by this common order for the sake convenience and brevity.

2.

The sum and substance of the grievance of the assessee is that amount offered for taxation during the survey proceeding have been doubly taxed and therefore relief is sort for the impugned assessment year.

2 ITA No.7851/Mum/2010 & ITA No.7852/Mum/2010 Binayak Tex Processor Ltd.

3.

Facts of the case as they were during the course of scrutiny assessment proceedings show that the survey operation u/s 133A of the Act was conducted at the business premises on 10.10.2007.

During the course of the survey action, assessee surrendered additional income in the hands of the different concerns of the assessee group for different assessment years.

In the hands of the assessee income of Rs. ome of Rs.56,98,653/- were admitted as undisclosed income relevant to two different assessment years i.e.

2005-06 and 2006-07 which are under consideration.

The break up is exhibited at page 2 para 5 of the assessment order for 2005-06.

For A.Y.2005-06, the additional income offered was Rs.24,21,989/- and for A.Y.

2006-07 additional income offered was Rs.32,76,664/- total additional income offered was Rs.56,98,653/-.

Subsequent to the survey operation search and seizure operation u/s 132 of the Act was carried out on 10.10.2007 at the residential and business premises of the assessee and its associates.

In advertently, the assessee offered the entire additional income in its return for A.Y.2006-07.

The AO observed that the assessee has not offered the additional income of Rs.24,21,981/- during the assessment year 2005-06 and accordingly made the addition of Rs.24,21,989/-.

4.

It is the say of the counsel that this income has been added by mistake in the assessment year 2006-07, wherein it has been taxed accordingly.

Therefore, the same amount should not be taxed once again in A.Y.2005-06.

5.

We have carefully perused the assessment orders; we find force in the contention of the counsel.

It is an undisputed fact that the assessee has offered additional income totaling to Rs.56,98,653/- and it is also not in dispute that out of this 24,21,989/- pertain to A.Y.

2005-06 and Rs.32,76,664/- pertain to A.Y.

2006-07.

It is also not in dispute that the assessee has offered the entire additional income of Rs.56,98,653/- in A.Y.

These facts are very much apparent from the assessment order.

3 ITA No.7851/Mum/2010 & ITA No.7852/Mum/2010 Binayak Tex Processor Ltd.

Therefore, we do not find any reason for taxing Rs.24,21,989/-once again in A.Y.

2005-06.

The AO is directed to delete the addition of Rs.

24,21,989/- in A.Y.

Appeal of the assessee for A.Y.

2005-06 is allowed and appeal for the A.Y.2006-07 is accordingly dismissed.

6. missed.

6.

In the result, appeal filed by the assessee for A.Y.2005-06 is allowed and for A.Y.2006-07 is accordingly dismissed.

Order pronounced in the open court on 10/09/2013 आदेश क( घोषणा खुले यायालय म /दनांक 10/09/2013, को क( गई । Sd/- (H.L.KARWA) Sd/- (N.K.BILLAIYA) HON’BLE PRESIDENT ACCOUNTANT MEMBER मुंबई Mumbai; /दनांक /Dated : 10th September, 2013.

Shekhar.

P.S. आदेश आदेश आदेश आदेश क( क( क( क( & त1ल2प & त1ल2प & त1ल2प & त1ल2प अ3े2षत अ3े2षत अ3े2षत अ3े2षत/Copy of the Order forwarded to : 1. अपीलाथ% / The Appellant 2. &'यथ% / The Respondent.

3. आयकर आयु4(अपील) / The CIT- , Mumbai.

4. आयकर आयु4 / CIT(A)- , Mumbai 5.

2वभागीय & त न ध, आयकर अपील य अ धकरण, मुंबई / DR, ITAT, Mumbai 6. गाड फाईल / Guard file. आदेशानुसार आदेशानुसार/ BY ORDER, स'या2पत & त //True Copy// उप उप उप उप/सहायक सहायक सहायक सहायक पंजीकार पंजीकार पंजीकार पंजीकार (Dy./Asstt.

Registrar) आयकर आयकर आयकर आयकर अपील य अपील य अपील य अपील य अ धकरण अ धकरण अ धकरण अ धकरण, मुंबई / ITAT, Mumbai