My City Properties Private Limited, Hyderabad V. Income Tax Officer, Ward-16(4), Hyderabad

ITA 107/Hyd/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4096 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-02-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Next Hearing Date: 20-01-2021
• Assessment Year: 2012-2013
• Appeal Filed On: 11-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: T CHAITANYA KUMAR
• Keywords: Unexplained cash credit
• Section: 143(3); 13; 68; 6; 15

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES : BENCH A HYDERABAD (THROUGH VIDEO CONFERENCE ) BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L . P . SAHU, ACCOUNTANT MEMBER ITA NO. 107 /HYD/20 18 A.Y. 2012 - 13 MY CITY PROPERTIES PRIVATE LTD. HYDERABAD [PAN: AAFCM2055B] VS. ITO, WARD 16(4) HYDERABD ( APPELLANT) (RESPONDENT) ASSESSEE BY: SRI T. CHAITANYA KUMAR, ADV. REVENUE BY : SRI SUNIL KUMAR PANDEY, DR DATE OF HEARING: 20 / 01 /202 1 DATE OF PRONOUNCEMENT: 05 / 02 /202 1 ORDER PER BENCH THIS ASSESSEES APPEAL FOR A.Y.201 2 - 13 ARISES FROM C OMMISSIONER OF INCOME TAX (APPEALS) - 4 [CIT(A)] , HYDERABADS ORDER DATED 28. 11.2016 PASSED IN CASE NO. 0247/2016 - 17 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 [IN SHORT THE ACT]. AT THE OUTSET, IT IS NOTICED THAT THERE IS A D ELAY OF 142 DAYS IN FILING OF THE INSTANT APPEAL BEFORE THE T RIBUNAL . MR. KUMAR STATED THE REASON THEREOF TO BE ATTRIBUTABLE TO LACK OF APPROPRIATE COMMUNICATION BETWEEN THE AUDITORS AND ARGUING COUNSEL AND COMP ILATION OF NECESSARY RECORDS AND CORRESPONDING VOUCHERS WHICH HAS NOT BEEN REBUTTED FROM THE DEPARTMENTS SIDE, IS ITA NO. 107/HYD./2018 AY: 2012 - 13 MY CITY PROPERTIES PVT. LTD. 2 CONDONED AS THE SAME IS NEITHER INTENTIONAL NOR DELIBERATE BUT DUE TO BEYOND THE TAXPAYERS CONTROL. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. IT EMERGES DURING THE COURSE OF HEARING THAT THE ASSESSEE HAS CHALLENGED BOTH THE LOWER AUTHORITIES ACTION TREATING AN AMOUNT OF RS.74,08,000/ - AS UNEXPLAINED CASH CREDIT U/S 68 OF THE ACT. A PERUSAL OF ASSESSMENT ORDER DATED 31 ST MARCH, 20 15 SUGGESTS THAT THE IMPUGNED SUM COMPRISES OF TWIN AMOUNTS OF RS.50,96,000/ - AND RS.23,12,000/ - IN THE NAMES OF MRS. ANNA J MOHAN AND SHRI S.SUBRAHMAYA M ; RESPECTIVELY. ASSESSEES STAND FROM DAY ONE DURING SCRUTINY TILL ITS FORM 35 SUBMITTED BEFORE THE CIT (A) HAD BEEN THAT SINCE THE IMPUGNED SUM(S) HA D NOT EITHER BEEN CREDITED OR RECEIVED DURING THE RELEVANT FY 2011 - 12 BEING ADVANCES RECEIVED IN MUCH EARLIER ASSESSMENT YEARS, THE SAME FORM ED PART OF ITS OPENING BALANCE ONLY. THIS CLINCHING ASPECT H AS NEITHER BEEN DEALT WITH IN ASSESSMENT, NOR IN CIT (A) S ORDER. LAT T ER AUTHORITYS ORDER UNDER CHALLENGE H AS NOT EVEN DISCUSSED RELEVANT FACTUAL MATRIX OF THE ISSUE U/S 250( 6 ) OF THE ACT . W E DEEM IT APPROPRIATE THEREFORE TO RESTORE TH IS ISSUE BACK TO CIT (A) FOR FRESH ADJUDICATION . THE ASSESSEE OR ITS AUTHORISED REPRESENTATIVE SHALL APPEAR BEFORE THE CIT (A) ON OR BEFORE 31 ST JULY, 2021 , WITH A COPY OF THIS REMAND ORDER AND CONSEQUENTIAL PROCEEDINGS SHALL BE FINALISED WITHIN THREE E FFECTIVE OPPORTUNITIES OF HEARING. THIS ASSESSEES APPEAL IS A LLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 05 /0 2 /2021. SD/ - SD/ - (L . P . SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: THE 05 TH FEBRUARY , 2021. * GMV ITA NO. 107/HYD./2018 AY: 2012 - 13 MY CITY PROPERTIES PVT. LTD. 3 COPY OF THE ORDER FORWARDED TO: 1. MY CITY PROPERTIES PVT. LTD. FLAT NO.203, MAHINDRA RESIDENCY, BESIDE ADITYA TRADE CENTRE, AMEERPET, HYDERABAD, TELANGANA. PIN: 500 0 38 2. ITO, WARD 16(4) , HYDERABAD, TELANGANA 3. ACIT, RANGE 16 , HYDERABAD 4. CIT(A) - 4 , HYDERABAD. 5. PR.CIT - 4 , HYDERABAD 6. DR, ITAT, HYDERABAD. 7. GUARD FILE.