Abdhulla Khan, Nizamabad, Hyderabad V. ITO, Ward-1, Nizamabad, Nizamabad

ITA 1114/HYD/2016

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 2520 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 6 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 22-08-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: AMISHA S GUPT
• Keywords: Unexplained investment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B SMC BENCH: HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT ITA. NO.1114/HYD/2016 ASSESSMENT YEAR: 2006 - 2007 ABDDHULLA KHAN, 9 - 3 - 295, BARKATPURA KHOJA GALLY, NIZAMABAD. PAN: AEOPK 0603 F VS. INCOME TAX OFFICER, WARD - 1, NIZAMABAD. (APPELLANT) (RESPONDENT) FOR ASSESSEE: NONE FOR REVENUE : SMT. AMISHA S. GUPT, DR DATE OF HEARING : 2 2 .02.2018 DATE OF PRONOUNCEMENT : 2 2 .02.2018 ORDER PER D. MANMOHAN , VP. THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY LD. CIT(A) - 5, HYDERABAD AND IT PERTAINS TO ASSESSMENT YEAR 2006 - 07. 2. THE CASE WAS ADJOURNED FROM TIME TO TIME AND SHRI TEJ PRAKASH TOSHNIWAL APPEARED AND SOUGHT FOR ADJOURNMENT ON PREVIOUS OCCASIONS BUT , W HEN THE CASE WAS ULTIMATELY POSTED FOR HEARING TODAY, NONE APPEARED FOR THE ASSESSEE. I, THEREFORE, PROCEED TO DISPOSE OF THE APPEAL EX - PARTE , QUA THE ASSESSEE. 3. THE ASSESSEE DECLARED INCOME OF RS . 79,560/ - FOR THE YEAR UNDER CONSIDERATION WHEREAS THE ASSESSMENT WAS COMPLETED ON A TOTAL INCOME OF RS. 3,54,540/ - BY MAKING AN ADDITION OF RS. 2,81,982/ - , REFERABLE TO UNEXPLAINED INVESTMENT WITH M/S. SADAT ENCLAVE. THE CASE OF THE 2 ASSESSEE WAS THAT TH E IMPUGNED SUM WAS WITHDRAWN FROM M/S. EVEREST STEELS AND THE SAME WAS INVESTED. HOWEVER, THE A.O. OBSERVED THAT THE ASSESSEE IS ONE OF THE PARTNERS OF M/S. EVEREST STEELS AND HIS INVESTMENT WAS RS.2,90,518/ - AND IN FACT THE ASSESSEE HAS WITHDRAWN ONLY AN AMOUNT OF RS. 2,90,518/ - AS AGAINST HIS CLAIM OF RS.5,72,500/. SINCE THERE IS NO EXPLANATION WITH REGARD TO THE DIFFERENTIAL AMOUNT, THE SAME WAS ADDED AS UNEXPLAINED INVESTMENT FOR THE YEAR UNDER CONSIDERATION AND THE LD. CIT(A) AFFIRMED THE ACTION OF THE A.O. 4. EVEN BEFORE THE TRIBUNAL, NO EVIDENCE WAS PLACED TO CONTRADICT THE FINDINGS OF THE TAX AUTHORITIES. I, THEREFORE, AFFIRM THE ORDER OF THE LD. CIT(A) AND DISMISS THE APPEAL FILED BY THE ASSESSEE. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND F EBRUARY, 2018. S D / - (D. MANMOHAN) VICE PRESIDENT HYDERABAD, DATED: 2 2 ND FEBRUARY, 2018. OKK, SR.PS COPY TO 1. TEJPRAKASH TOSHNIWAL, ADVOCATE, 4 - 1 - 6/B/4, RAMKOTE, HYDERABAD - 500 095. 2. INCOME TAX OFFICER, WARD - 1, NIZAMABAD. 3. CIT (A) - 5, HYDERABAD. 4. PR. COMMISSIONER OF INCOME TAX - 5, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE