DCIT, New Delhi V. Shri J.R.D Arora, New Delhi

ITA 1101/DEL/2012

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 73953 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 10 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-01-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 06-01-2014
• Assessment Year: 2001-2002
• Appeal Filed On: 02-03-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHAMEER SHARMA
• Section: 148; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH D, NEW DELHI BEFORE : SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI SHAMIM YAHIYA, ACCOUNTANT MEMBER ITA NO. 1101/DEL./2012 ASSTT. YEAR : 2001-02 D.C.I.T., CIRCLE 26(1), VS. SHRI J.R.D. ARORA, CIRCLE 26(1), NEW DELHI. M-151, VIKAS PURI, NEW DELHI (PAN : AAEPA 7926 R) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI SHAMEER SHARMA, CIT/DR RESPONDENT BY : SHRI SANJEEV JAIN, C.A. DATE OF HEARING : 06.01.2014 DATE OF PRONOUNCEMENT OF ORDER : 01.01.2014 ORDER PER BHAVNESH SAINI, J.M.: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER O THE LD. CIT(A) XVII, NEW DELHI DATED 30.12.2011 FOR THE ASSESSMENT YEAR 2001-02, CHALLENGING THE DELETION OF ADDITION OF RS.11,40,500/-. 2. BRIEFLY, THE FACTS OF THE CASE ARE THAT A SURVEY IN THIS CASE WAS CONDUCTED AND PROCEEDINGS U/S. 148 WERE INITIATED WHICH WERE COMP LETED VIDE ORDER DATED 30.12.2008 AND AO MADE ADDITION OF RS.13,05,000/- B EING THE AMOUNT OF CASH DEPOSITED IN VARIOUS BANK ACCOUNTS OF THE ASSESSEE. THE ASSESSEE FILED APPLICATION ITA NO. 1101/DEL./2012 2 U/S.154 BEFORE THE AO WHERE THE ABOVE ADDITION WAS REDUCED TO RS.11,40,500/- .THE ASSESSEE SUBMITTED BEFORE THE LD. CIT(A) THAT THE CASH DEPOSITS REPRESENTED THE RENT RECEIPTS OF RS.10,35,000/-. THE ASSESSEE P RODUCED THE CASH BOOK. ACCORDING TO THE AO, THE ASSESSEE DID NOT PROVE THA T THE RENT WAS RECEIVED IN CASH ON DAILY BASIS. THE LD. CIT(A) NOTED THAT THE ASSES SEE PRODUCED CASH BOOK TO SHOW THAT SUFFICIENT CASH WAS AVAILABLE TO MAKE VARIOUS DEPOSITS. IT WAS ALSO FOUND THAT THE ASSESSEE RECEIVED RENT OUT OF WHICH THE CASH W AS DEPOSITED IN THE BANK ACCOUNT. THE LD.CIT(A) ALSO FOUND THAT THE SOURCE O F CASH CREDIT IN THE BANK ACCOUNT WAS ALREADY SHOWN IN THE RETURN OF INCOME A S RENTAL INCOME OF RS.10,35,000/- AND TAX HAS ALREADY BEEN PAID ON THE SAME. THEREFORE, THE ADDITION WAS FOUND UNJUSTIFIED AND THE APPEAL OF THE ASSESSE E HAS BEEN ALLOWED. 3. ON CONSIDERATION OF THE RIVAL SUBMISSIONS, WE AR E OF THE VIEW THAT THE LD. CIT(A) WAS JUSTIFIED IN DELETING THE ADDITION. THE ASSESSEES COUNSEL HAS FILED COPY OF THE ACKNOWLEDGEMENT OF FILING OF RETURN TO SHOW THAT THE INCOME FROM HOUSE PROPERTY HAS BEEN SHOWN IN THE RETURN OF INCOME AND RENTAL INCOME WAS SHOWN AT RS.10,98,200/-. THE LD. CIT(A) WAS, THEREFORE, JUST IFIED IN HOLDING THAT THE RENTAL INCOME WAS AVAILABLE TO THE ASSESSEE TO MAKE DEPOSI TS IN THE BANK ACCOUNT. THE ASSESSEE ALSO PRODUCED CASH BOOK IN SUPPORT OF THE CONTENTION. IN THE ABSENCE OF ANY MATERIAL AVAILABLE ON RECORD IN FAVOUR OF REVEN UE, THE REVENUE HAS FAILED TO ITA NO. 1101/DEL./2012 3 REBUT THE FINDINGS OF FACTS RECORDED BY THE LD. CIT (A). THE DEPARTMENTAL APPEAL HAS NO MERIT AND IS, ACCORDINGLY, DISMISSED. 4. IN THE RESULT, THE DEPARTMENTAL APPEAL IS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (SHAMIM YAHIYA) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER *AKS/- COPY OF THE ORDER FORWARDED TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A), CONCERNED BY ORDER 4. CIT, CONCERNED 5. DR, ITAT, NEW DELHI 6. GUARD FILE ASSTT. REGISTRAR TRUE COPY