ACIT, Ludhiana V. Sh. Pardeep Kumar Modi, Ludhiana

ITA 1008/CHANDI/2012

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 5322 (ITAT-CHANDIGARH)
• Duration Of Justice: 6 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 12-12-2018
• Assessment Year: 2006-2007
• Appeal Filed On: 05-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G S PHANI KISHORE

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, B, CHANDIGARH . . , , BEFORE SHRI N.K. SAINI, VICE PRESIDENT & SHRI SANJ AY GARG, JUDICIAL MEMBER ./ ITA NO. 1008/CHD/2012 ! / ASSESSMENT YEAR : 2006-07 THE ACIT, CENTRAL CIRCLE-II, LUDHIANA '# SH. PARDEEP KUMAR MODI, 14-K, SARABHA NAGAR, LUDHIANA $ % ./PAN NO: ACSPM0688C $&/ APPELLANT ()$& /RESPONDENT *+ , - /ASSESSEE BY : SHRI ASHWANI KUMAR, CA , - / REVENUE BY : SHRI G.S. PHANI KISHORE, CIT DR . / , +0% /DATE OF HEARING : 23.01.2019 12! , +0% / DATE OF PRONOUNCEMENT : 29.01.2019 / ORDER PER SANJAY GARG, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSESS EE AGAINST THE ORDER DATED 13.7.2012 OF THE COMMISSIONER OF INCOME TAX (APPEALS )- 1, LUDHIANA [HEREINAFTER REFERRED TO AS CIT(A)]. 2. THE SOLE ISSUE RAISED BY THE REVENUE IN THIS APP EAL IS REGARDING THE ACTION OF THE CIT(A) IN DELETING THE ADDITION OF RS . 2 CRORES MADE BY THE ASSESSING OFFICER ON ACCOUNT OF UNEXPLAINED INVESTM ENT IN SHARES. THE SOLE PLEA TAKEN BY THE DEPARTMENT WAS BASED ON THE SURRENDER OF THE AFORESAID AMOUNT OF RS. 2 CRORES IN THE STATEMENT M ADE BY THE ASSESSEE DURING THE COURSE OF SEARCH CARRIED ON U/S 132(4) O F THE INCOME-TAX ACT, ITA NO. 1008/CHD/2012- SH. PARDEEP KUMAR MODI, LUDHIANA 2 1961 (IN SHORT 'THE ACT'). THE LD. DR HAS SUBMITTED THAT THE ASSESSEE HAD HIMSELF SURRENDERED THE AFORESAID AMOUNT IN HIS STA TEMENT AND THE SAME WAS NEVER RETRACTED BY THE ASSESSEE, HENCE, THE ACT ION OF THE CIT(A) IN DELETING THE IMPUGNED ADDITION MADE BY THE ASSESSIN G OFFICER WAS NOT JUSTIFIED. 3. ON THE OTHER HAND, THE LD. COUNSEL FOR THE ASSE SSEE HAS SUBMITTED THAT THE AFORESAID SURRENDER WAS MADE BY THE ASSESS EE IN HIS STATEMENT RECORDED ON 22.10.2009. THAT THE ASSESSEE HAD HONOR ED HIS STATEMENT AND HAD OFFERED THE AFORESAID AMOUNT OF RS. 2 CRORE IN HIS RETURN FOR ASSESSMENT YEAR 2010-11. THE DEPARTMENT HAS ACCEPT ED THE SAID SURRENDER IN THE SAID RETURN. THAT IN HIS STATEMENT THERE IS NO MENTION THAT THE SAID SURRENDER WAS FOR ANY PARTICULAR ASSESSMENT YEAR OR FOR ASSESSMENT YEAR UNDER CONSIDERATION. THAT THERE WAS NO STATEMENT OF THE ASSESSEE OFFERING ANY INCOME SPECIFICALLY FOR THE YEAR UNDER CONSIDER ATION. THAT SINCE THE ASSESSEE HAS ALREADY OFFERED THE SURRENDERED AMOUN T IN HIS INCOME TAX RETURN FOR ASSESSMENT YEAR 2010-11, NOW MAKING THE ADDITION OF THE SAID AMOUNT AGAIN INTO THE INCOME OF THE ASSESSEE WILL AMOUNT TO DOUBLE TAXATION. 4. THE LD. DR COULD NOT REBUT THE AFORESAID CONTENT ION OF THE LD. COUNSEL FOR THE ASSESSEE. 5. WE FIND THAT T HE LD. CIT(A) HAS ALSO GIVEN A CA TEGORICAL FINDING IN THIS RESPECT IN PARA 6 OF THE IMPUGNED ORDER. WE, T HEREFORE, DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE CIT(A) ON THIS ISSUE. THERE IS NO MERIT IN THE APPEAL OF THE REVENUE AND THE SAME IS ACCORDINGLY D ISMISSED. ITA NO. 1008/CHD/2012- SH. PARDEEP KUMAR MODI, LUDHIANA 3 IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS D ISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29.01.2019 SD/- SD/- ( . . / N.K. SAINI) ( ! ' / SANJAY GARG) #$% / VICE PRESIDENT & ' /JUDICIAL MEMBER DATED : 29. 01.2019 .. 3 , (+45 65!+ / COPY OF THE ORDER FORWARDED TO : 1. $& / THE APPELLANT 2. ()$& / THE RESPONDENT 3. . 7+ / CIT 4. . 7+ ( )/ THE CIT(A) 5. 58 (+9 , 0 9 , :;<= / DR, ITAT, CHANDIGARH 6. < >/ / GUARD FILE 3 . / BY ORDER, ? / ASSISTANT REGISTRAR