TaxTMI 
TaxTMI 
2023 (4) TMI 365
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....ese three appeals are taken up together for adjudication and are decided by this common order. ITA NO.98/MUM/2022-A.Y. 2011-12: 2. This appeal by the Revenue is directed against the order of Commissioner of Income Tax(Appeals)-54, Mumbai [in short 'the CIT(A)' ] dated 20/10/2021 for the Assessment Year 2011-12. 3. This appeal by the Revenue is time barred by two days. The delay in filing of the appeal is condoned on the oral request of ld. Departmental Representative and the appeal is admitted for adjudication on merits of the grounds raised. 4. The Revenue in appeal has raised as many as five grounds. The grounds No.1 to 3 of appeal are in respect of addition on account of unexplained cash u/s. 69A of Income tax Act 1961 [in sh....
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....bmits that CIT(A) in the impugned order has recorded that, the facts in the case of assessee are identical to the facts involved in the case of M/s. Indiabulls Financial Services Ltd. for Assessment Year 2011-12. The CIT(A) following the decision in the case of M/s. Indiabulls Financial Services Ltd. deleted the addition in respect of unexplained cash u/s. 69 of the Act. In the case of M/s. Indiabulls Financial Services Ltd., the Revenue carried the issue before the Tribunal in ITA No. 1433/Mum/2022 for Assessment Year 2011-12. The Tribunal vide order dated 31/10/2022 upheld the findings of CIT(A). Thus, ground No.1 to 3 of the present appeal by Revenue is covered against the Department by the aforesaid order of Tribunal. 6.1 The ld.Coun....
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....ls Ltd. and is one of the 16 group entities, wherein disclosure was made during the search and finally settled before the Settlement Commission. Thus, the amount which is brought to tax u/s. 69A of the Act is purportedly offered as additional income in settlement before the Settlement Commission. The CIT(A) has deleted the addition u/s. 69A of the Act following the order of CIT(A) in the case of M/s. Indiabulls Financial Services Ltd. for Assessment Year 2011-12 another one of the 16 group entities. The Co-ordinate Bench vide order dated 31/10/2022 has upheld the findings of CIT(A) in deleting the addition on the ground the amount has already been considered in income of the assessee and other entities, before the Settlement Commission. Thu....
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....dered in particular facts of each case, hence, distinguishable. In the case of CIT vs. Kabul Chawla (supra) the Hon'ble High Court has considered the decision in the case of Canara Housing Dev. Co. (supra) and has thereafter followed the ratio laid down in the case of Continental Warehousing Corporation (Nhava Sheva) Ltd. Following the law expounded by Hon'ble Jurisdictional High Court on this issue, we see no infirmity in the findings of CIT(A). Consequently, ground No.4 & 5 of the appeal are dismissed. 10. In the result, appeal by the Revenue is dismissed. ITA NO.102/MUM/2022-A.Y.2017-18: 11. This appeal by the Revenue is directed against the order of CIT(A) -54, Mumbai dated 20/10/2021 for the Assessment Year 2017-18. The....
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....g reasons for delay in filing of the appeal. After perusal of the same, we are satisfied that the delay in filing of appeal is for bonafide reasons. The ld.Counsel for the assessee has also not objected to the condonation of delay in filing of appeal. Taking into consideration entirety of facts, the delay of 130 days in filing of appeal is condoned and the appeal is admitted for adjudication on merits. 16. The Revenue has raised six grounds of appeal. In ground No.1 to 3 of appeal, the Revenue has assailed the findings of CIT(A) in deleting the addition on account of unexplained cash u/s. 69A of the Act. In ground No. 4 to 6 of the appeal, the Revenue has assailed the findings of CIT(A) in deleting the addition made by Assessing Officer ....