Shri Devendranath G.Chaturvedi, Ahmedabad V. The Dy.CIT.,Cent.Circle-2(2), Ahmedabad

CO 197/AHD/2007

• Counselvise Citation: [2010] 122 COUNSELVISE.COM (IT) 4567 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 7 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 20-04-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 20-04-2010
• Assessment Year: 2001-2002
• Appeal Filed On: 13-07-2007
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJA RAM SHAH
• Assessee Lawyers: ASHEEM THAKKAR
• Keywords: Peak credit

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH AHMEDABAD (BEFORE S/SHRI BHAVNESH SAINI, JM AND N. S. SAINI, AM) C. O. NOS. 197, 198 AND 199/AHD/2007 (IN ITA NOS.2645, 2646 AND 2648/AHD/2007 A. Y.: 2001-02, 2002-03 AND 2003-04) SHRI DEVENDRA G. CHATURVEDI, B. NO. 11/13, NIRANT PARK SOCIETY, PART-I, OPP. SUN & STEP CLUB, THALTEJ, AHMEDABAD PA NO. AECPC 9270 L VS THE A. C. I. T., CENTRAL CIRELE-2(2), AHMEDABAD (CROSS OBJECTOR) (RESPONDENT) CROSS OBJECTOR BY SHRI ASHEEM THAKKAR, AR RESPONDENT BY SHRI RAJA RAM SHAH, DR O R D E R PER BENCH: ALL THE CROSS OBJECTIONS BY THE ASSESSEE ARE DIRE CTED AGAINST THE COMMON ORDER OF THE LEARNED CIT(A)-III, AHMEDABAD DATED 30-03-2007 FOR THE ABOVE ASSESSMENT YEARS ON THE FO LLOWING COMMON GROUND: 1. THE LEARNED COMMISSIONER OF INCOME-TAX (A) HAS ERRED IN GIVING DIRECTION TO THE A.O. TO COMPUTE/VERIFY THE PEAK CREDIT BALANCE IN TWO BANK ACCOUNTS NAMELY KALUPUR COMMERC IAL CO. OP. BANK A/C. NO.1865 AND BANK OF BARODA A/C. NO.307866 IN THE PERIOD SUBSEQUENT TO 07-03-2001 FO R ADDITION IF NOT ALREADY OFFERED IN THE RELEVANT RET URN/S FILED BY THE RESPONDENT. 2. THE LEARNED COUNSEL FOR THE ASSESSEE AT THE OUTS ET SUBMITTED THAT HE WOULD NOT BE PRESSING THE CROSS OBJECTIONS. THE SAME ARE ACCORDINGLY DISMISSED AS WITHDRAWN. C.O.NOS. 197, 198 AND 199/AHD/2007 (IN ITA NOS. 2645, 2646AND 2648/AHD/2007 SHRI DEVENDRANATH G. CHATURVEDI 2 3. AS A RESULT, THE CROSS OBJECTIONS OF THE ASSESSE E ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20-04-2010 SD/- SD/- (N. S. SAINI) ACCOUNTANT MEMBER (BHAVNESH SAINI) JUDICIAL MEMBER DATE : 20-04-2010 LAKSHMIKANT/- COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) CONCERNED 5. THE DR, ITAT, AHMEDABAD 6. GUARD FILE BY ORDER D Y. REGISTRAR, ITAT, AHMEDABAD