COMMISSIONER OF INCOME TAX XIII Vs. MITTAL CONSUL

JUDGEMENT

(1.) BY this common judgment we propose to dispose of the aforesaid three appeals, arising out of separate orders dated 30th May, 2005 and 31st October, 2007 of the Income Tax Appellate Tribunal (hereinafter, referred to as the TribunalRs.). All these three appeals are interrelated. The respondents/assessees were assessed separately for the block Vide common order dated 3rd December, 2004, their periods. appeals against the orders of the Assessment Officers were rejected by the Commissioner of Income Tax (Appeals) [hereinafter, referred to as CIT(A)Rs.]. The assessees filed separate appeals before the Tribunal. Vide the impugned order dated 30th May, 2005, the Tribunal allowed the appeal of the assessee M/s Mittal Consul & Company (hereinafter, referred to as MCCRs.) which is under challenge in ITA No. 1277/2007. Similarly vide separate orders dated 31st October, 2007, the Tribunal also allowed the appeal of the assessee M/s.Tushar Stock and Share Brokers (Pvt.) Ltd. (in short Tushar) which is under challenge in ITA No. 572/2008 and the appeal of R.K. Mittal (hereinafter, referred to as MittalRs.) which is under challenge in ITA No.928/2008.

(2.) A raid was conducted on assessee Tushar by the Enforcement Directorate (hereinafter, for short EDRs.), which lead to discovery of cash as well as other documents relating to all the respondents/assessees. Relevant proceedings were initiated by the Department against the respondents. Since the impugned order of the Tribunal dated 30th May, 2005 (in case of MCC) came to be passed prior in time and was also relied upon by the Tribunal in their subsequent impugned orders of 31st October, 2007 with respect to the other respondents/assessees (Tushar and Mittal), we can safely rely upon the facts as noted by the Tribunal in its impugned order of 30th May, 2005 and also by the CIT(A) in its order dated 3rd December, 2004 without any fear of contradiction. We, therefore, refer to the facts from the said orders.

(3.) THE plea taken by Tushar before the JCIT with regard to this diary that it was rough sheet and jottings, was rejected by the JCIT and he proceeded to treat this amount of Rs.13,10,000/- as undisclosed income of Tushar for the block period 1.4.1986 to 20.1.1997.