IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE HON’BLE JUSTICE (RETD.) C V BHADANG, PRESIDENT &

MS PADMAVATHY S, AM I.T.A. No. 5184/Mum/2024 (Assessment Year: 2017-18)

M/s Gaurav Investments, DCIT, Central Circle-8(1), 1^st Floor, B & C Block, Trade Link, Room No. 656, 6^th Floor, E-Wing, Kamala Mill Compounds, Aayakar Bhavan, M.K. Road, Vs.

S.B. Marg, Lower Parel, Mumbai-400020.

Mumbai-400013.

PAN: AADFG0064D Appellant) : Respondent Appellant /Assessee by : Shri Suyog Bhave, AR Revenue / Respondent by : Shri Bhangepatil Pushkaraj Ramesh – Sr. DR Date of Hearing : 29.04.2025 Date of Pronouncement : 29.04.2025 O R D E R Per Padmavathy S, AM:

This appeal by the assessee is against the order of the Commissioner of Income Tax (Appeals)-50, Mumbai [In short 'CIT(A)'] passed under section 250 of the Income Tax Act, 1961 (the Act) dated 21.06.2024 for AY 2017-18. The assessee raised the following grounds of appeal:

“1. On the facts and in the circumstances of the case and in law the learned Commissioner of Income Tax(Appeals)-50, Mumbai, erred in upholding the action of the learned Assessing Officer in reopening the assessment u/s.147 of the income tax act 1961, ignoring fact that,