Mohammed Ibrahim Mohammed Iqbal Shaikh, Ahmedabad V. The Income Tax Officer, Ward-14(1), Ahmedabad

ITA 1147/AHD/2016

• Counselvise Citation: [2018] 112 COUNSELVISE.COM (IT) 5741 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-12-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 03-05-2016
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: G C DAXINI
• Assessee Lawyers: B R POPAT
• Keywords: Unexplained investment; Business expenditure; Corroborative evidences
• Section: 133(6); 131; 69

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER ./ITA NO. 1147/AHD/2016 ( / ASSESSMENT YEAR : 2010-11) MOHMMED IBRAHIM MOHMMED IQBAL SHAIKH 1712, CHANGEJ POLE DARIAPUR AHMEDABAD-380 001 / VS. THE INCOME TAX OFFICER WARD-14(1) AHMEDABAD ./ ./ PAN/GIR NO. : ASDPS 1082 P ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI B.R. POPAT, AR / RESPONDENT BY : SHRI G.C. DAXINI, SR.DR / DATE OF HEARING 31/10/2018 !'# / DATE OF PRONOUNCEMENT 03 /12/2018 / O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE ASSESSEE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TA X (APPEALS)5, AHMEDABAD [CIT(A) IN SHORT] VIDE APPEAL NO.CIT(A)-5 /ITO WD.14(1)/57/2014-15 DATED 02.03.2016 ARISING IN T HE ASSESSMENT ORDER PASSED UNDER S.143(3) OF THE INCOME TAX ACT, 1961( HEREINAFTER REFERRED TO AS 'THE ACT') DATED 26.03.2013 RELEVANT TO ASSE SSMENT YEAR (AY) 2009-10. ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 2 - 2. THE ONLY ISSUE RAISED BY THE ASSESSEE IS THAT THE L D. CIT (A) ERRED IN CONFIRMING THE ADDITION MADE BY THE AO FOR 29,07,842.00 AS UNEXPLAINED INVESTMENT UNDER SECTION 69 OF THE ACT. 3. BRIEFLY STATED FACTS ARE THAT THE ASSESSEE IS A N INDIVIDUAL AND DECLARED HIS INCOME UNDER THE HEAD SALARY. THE ASSESSEE DURI NG THE YEAR HAS DEPOSITED CASH OF 32,64,815.00 IN HIS SAVING BANK ACCOUNT HAVING ACCOUNT NO. 032201000014349 MAINTAINED WITH BANK OF BARODA. 4. ON QUESTION BY THE AO ABOUT THE SOURCE OF CASH DEPOSITED IN THE BANK ACCOUNT, THE ASSESSEE VIDE LETTER DATED 15 TH OCTOBER 2012 SUBMITTED THAT HIS FATHER IS WORKING IN A PETROL PUMP LOCATED AT L AL DARWAZA, AHMEDABAD, OPERATED BY M/S LAKHIA BROTHERS A PROPRI ETARY CONCERN OF SHREE SHEETAL LAKHIA. THE FATHER OF THE ASSESSEE WA S HOLDING CERTAIN CREDIT CARDS OF BANKS. THE FATHER OF THE ASSESSEE T O EXTEND THE FINANCIAL HELP TO HIS SON (ASSESSEE) HAS SWAPPED HIS CREDIT C ARD AGAINST THE SALES OF PETROL TO THE CUSTOMERS IN CASH AND RETAINED THE CA SH WITH HIMSELF WHICH WAS FORWARDED TO THE ASSESSEE. ACCORDINGLY, THE ASS ESSEE USED TO DEPOSIT THE CASH IN THE BANK ACCOUNT TO MAKE THE PAYMENT OF THE CREDIT CARD HELD BY HIS FATHER ON THE DUE DATE. THE ASSESSEE AGAINST THE USE OF THE CREDIT OF HIS FATHER GOT A SMALL DISCOUNT FROM THE BANK AMOUN TING TO 11,964.00 ONLY UNDER THE YEAR CONSIDERATION WHICH HE AGREED T O OFFER THE SAME TO TAX. 5. THE ASSESSEE ALSO CLAIMED THAT THERE WAS CASH WITHDRAWAL FROM HIS BANK ACCOUNT AMOUNTING TO 1,99,800 & 195,000 AGGREGATING 3,94,800 ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 3 - WHICH WAS UTILISED FOR MAKING THE CASH DEPOSIT IN T HE BANK. THEREFORE, TO THIS EXTENT THERE CANNOT BE ANY ADDITION ON ACCOUNT OF DEPOSIT OF CASH IN THE SAVING BANK ACCOUNT. THE ASSESSEE IN SUPPORT OF HIS CLAIM RELIED ON THE JUDGEMENT OF HONORABLE SUPREME COURT IN THE CAS E OF ANANTHRAM VEERSINGHAIAH & CO. VERSUS CIT REPORTED IN 123 ITR 457. 6. THE ASSESSEE ALSO CLAIMED THAT HE HAS RECEIVE D A SUM OF 2,55,000 THROUGH BANKING CHANNEL FROM HIS FATHER ON 3 RD JULY 2009. THE ASSESSEE WAS FREQUENTLY TRANSFERRING THE FUND TO M/S LAKHIA BROTHERS AND RECEIVING BACK CASH FROM M/S LAKHIA BROTHERS IN SMALL DENOMIN ATION. THE ASSESSEE EXPLAINED THE FLOW OF TRANSACTION AS DETAILED UNDER : [ 3.1. ON FACTS OF THE CASE, IT IS FURTHER PLACED O N RECORD THAT THERE WAS AN AGGREGATE BALANCE OF APPROXIMATELY RS.2,55,000/- IN SAVING BANK ACCOUNT OF SHRI IQBAL SHAIKH, THE FATHER OF THE UND ERSIGNED. THIS BALANCE WAS LYING IN HIS SAVING BANK ACCOUNT MAINTAINED WIT H BANK OF BARODA. OUT OF THIS AMOUNT A SUM OF RS.2,55,000/- WAS TRANS FERRED ON 3 RD JULY 2009 AND SAME WAS DEPOSITED IN ACCOUNT NO 033201000 14349 STANDING IN THE NAME OF THE UNDERSIGNED WITH BANK OF BARODA. IT WAS INITIALLY FROM THE BALANCE CREATED THROUGH THIS DEPOSIT THAT CERTAIN AMOUNTS WERE TRANSFERRED IN THE BOOKS OF M/S.LAKHIA BROTHERS SO AS TO ENABLE THIS UNIT TO DISCHARGE ITS CONTRACTUAL OBLIGATIONS FOR PURCHA SE OF FUEL AND FOR INCURRING OTHER EXPENSES, AS MENTIONED ELSEWHERE IN THIS SUBMISSION. 3.2. WHILE THE UNDERSIGNED TRANSFERRED CERTAIN FUND S IN THE BANKING ACCOUNT OF M/S.LAKHIA BROTHERS AS AND WHEN THE SAME WAS REQUIRED AND AS MENTIONED ELSEWHERE IN THIS SUBMISSION, CORRESPO NDING WITHDRAWALS WERE ALSO MADE FROM THIS UNIT FOR ENSURING THAT THE TEMPORARY FUND INITIALLY PRKED WITH THEM IS RECEIVED BACK, TILL TH E SAME IS REQUIRED AGAIN BY THIS UNIT. SEVERAL SUCCESSIVE TRANSACTIONS WERE ACCORDINGLY CARRIED ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 4 - OUT IN THE FOLLOWING FASHION, WHICH ARE VERY MUCH C ROSS VERIFIABLE FROM INTERNAL AS WELL AS EXTERNAL SOURCES: (A) TRANSFER OF FUND FROM THE BANKING ACCOUNT OF THE U NDERSIGNED TO THE BANKING ACCOUNT OF M/S.LAKHIA BROTHERS. (B) ON ACCOUNT RECEIPT OF FUNDS BY THE UNDERSIGNED EITH ER BY EFFECTING CASH WITHDRAWAL FROM THE BANKING ACCOUNT OF M.S,LAK HIA BROTHERS OR OTHERWISE. (C) DEPOSIT OF THE FUND SO WITHDRAWN INTO THE BANKING A CCOUNT OF THE UNDERSIGNED, AS AND WHEN REQUIRED. (D) REINTRODUCTION OF THE FUND INTO THE BUSINESS OF M/S .LAKHIA BROTHERS IS ISSUING CHEQUES. 7. IN VIEW OF ABOVE, THE ASSESSEE CLAIMED TO HAV E MADE THE PAYMENT TO M/S LAKHIA BROTHERS AMOUNTING TO 17,25,000 ON REGULAR INTERVALS WHICH WAS RECEIVED BACK IN CASH. ACCORDINGLY, THE A SSESSEE HAS RECEIVED MONEY IN CASH FROM M/S LAKHIA BROTHERS THROUGH HIS FATHER WHICH WAS DEPOSITED IN THE BANK ACCOUNT OF THE ASSESSEE. 8. THE ASSESSEE FURTHER CLAIMED THAT THE ENTIRE T RANSACTION OF RS. 17,25,000 WAS SOURCED OUT OF THE INITIAL FUND R ECEIVED FROM HIS FATHER AMOUNTING TO RS. 2,55,000 ONLY. 9. THE ASSESSEE BEFORE AO IN SUPPORT OF HIS CONT ENTIONS FILED CERTAIN DOCUMENTS AS DETAILED UNDER: I. COPY OF THE CASH BOOK, II. LEDGER COPY OF SHREE IQBAL BHAI SHAIKH (FATHER OF A SSESSEE) III. LEDGER COPY OF M/S LAKHIA BROTHERS-IQBAL BHAI IV. COPY OF LEDGER OF LAKHIA BROTHERS ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 5 - V. CREDIT CARD STATEMENTS OF FATHER VI. A COPY OF ICICI BANK STATEMENT MAINTAINED BY SHREE IQBAL BHAI SHEIKH 10. HOWEVER, THE AO DURING THE ASSESSMENT PROCEE DINGS OBSERVED THAT THE ASSESSEE HAS NOT FURNISHED THE CONTRA COPY OF T HE ACCOUNT OF THE ASSESSEE MAINTAINED BY THE M/S LAKHIA BROTHERS. THE AO ALSO NOTICED THAT THERE WAS NO DOCUMENTARY EVIDENCE FILED BY THE ASSESSEE IN SUPPORT OF HIS CONTENTION. 11. IN VIEW OF ABOVE THE AO ISSUED A SHOW CAUSE NOTICE UNDER SECTION 142 (1) OF THE ACT DATED 5-11-2012 FOR FURNISHING C OMPLETE ADDRESSES, COPY OF THE ACCOUNT FROM THE BOOKS OF M/S LAKHIA BR OTHERS, PAN AND COPY OF ACKNOWLEDGEMENT OF THE RETURN OF INCOME. 12. THE ASSESSEE IN RESPONSE TO THE ABOVE NOTICE FILED HIS REPLY DATED 19-11-2012 ALONG WITH THE FOLLOWING DOCUMENTS: 1. THE PAN OF THE M/S.LAKHIA BROTHERS I.E. AACPL-7679- Q 2. ACKNOWLEDGEMENT OF THE INCOME TAX RETURN OF M/S.LAK HIA BROTHERS 3. ADDRESS OF M/S. LAKHIA BROTHERS 13. HOWEVER, THE ASSESSEE EXPRESSED HIS INABILI TY TO FURNISH HIS COPY OF ACCOUNT IN THE BOOKS OF M/S.LAKHIA BROTHERS ON THE REASONING THAT HE CANNOT ACCESS TO THE ACCOUNTS MAINTAINED BY M/S.LAK HIA BROTHERS BEING THIRD PARTY. THE ASSESSEE ACCORDINGLY REQUESTED THE AO TO EXERCISE HIS ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 6 - POWER GRANTED ON THE SECTION 131 AND 133(6) OF THE ACT FOR COLLECTING THE REQUISITE INFORMATION FROM M/S LAKHIA BROTHERS. 14. HOWEVER THE AO DID NOT BELIEVE THE TRANSACTI ONS CARRIED OUT BY THE ASSESSEE WITH M/S.LAKHIA BROTHERS AS DISCUSSED ABOV E IN THE ABSENCE OF COPY OF THE ACCOUNT OF THE ASSESSEE IN BOOKS OF ACC OUNTS OF M/S.LAKHIA BROTHERS. 15. ACCORDINGLY, THE AO ISSUED SUMMONS UNDER SECTI ON 131 OF THE ACT TO M/S.LAKHIA BROTHERS AND SHREE IQBAL BHAI SHEIKH. 16. IN RESPONSE TO THE NOTICE UNDER SECTION 131 OF THE ACT, SHREE IQBAL BHAI SHEIKH ACCEPTED TO HAVE CARRIED OUT THE FINANC IAL TRANSACTIONS WITH THE ASSESSEE IN THE MANNER AS DISCUSSED ABOVE. HOWE VER, SHREE IQBAL BHAI SHEIKH FAILED TO FURNISH THE SUPPORTING EVIDEN CES AND ADMITTED THAT HE DOES NOT MAINTAIN ANY BOOKS OF ACCOUNTS. 17. HOWEVER, THERE WAS NO RESPONSE FROM M/S.LAKHI A BROTHERS IN RESPONSE TO THE NOTICE ISSUED UNDER SECTION 131 OF THE ACT. 18. IN VIEW OF ABOVE, THE TRANSACTIONS CARRIED OU T BY THE ASSESSEE WITH M/S.LAKHIA BROTHERS AMOUNTING TO RS.29,07,842.00 WA S TREATED AS UNEXPLAINED INVESTMENT UNDER SECTION 69 OF THE ACT. ACCORDINGLY, THE AO DISALLOWED THE SAME AND ADDED TO THE TOTAL INCOM E OF THE ASSESSEE. 19. AGGRIEVED ASSESSEE PREFERRED AN APPEAL TO T HE LD. CIT-A. THE ASSESSEE BEFORE THE LD. CIT-A SUBMITTED THAT A SUM OF 11,82,482/- WAS ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 7 - DEPOSITED IN CASH IN THE BANK ACCOUNT TO MAKE THE P AYMENT OF THE CREDIT CARD HELD BY HIS FATHER. AS SUCH THE FATHER OF THE ASSESSEE PROVIDED THE CASH TO THE ASSESSEE OUT OF THE SALES EFFECTED AT T HE PETROL PUMP. THE FATHER OF THE ASSESSEE HAS SWAPPED HIS CREDIT CARD AGAINST THE SALE OF PETROL TO THE CUSTOMERS IN CASH. THE FATHER OF THE ASSESSEE BY THIS PROCESS WAS ABLE TO ARRANGE THE CASH AGAINST THE SALES OF H IS CREDIT CARDS WHICH WAS SUBSEQUENTLY GIVEN TO THE ASSESSEE. ON THE DUE DATE OF THE OUTSTANDING AMOUNT OF THE CREDIT CARD THE ASSESSEE USED TO DEPOSIT THE CASH IN HIS BANK ACCOUNT FOR MAKING THE PAYMENT OF THE CREDIT CARDS HELD BY HIS FATHER. THE ASSESSEE IN SUPPORT OF HIS CLAIM FILED THE COPIES OF THE CREDIT CARD STATEMENTS EVIDENCING THAT THE CARD WAS USED FOR THE PURCHASE OF THE PETROL. 20. THE ASSESSEE ALSO CLAIMED THAT THERE WAS WITH DRAWAL OF 3,94,800 FROM THE BANK IN CASH WHICH WAS UTILISED IN DEPOSIT ING THE SAME IN THE BANK ACCOUNT. 21. REGARDING THE PAYMENT MADE TO M/S LAKHIA BRO THERS THROUGH CHEQUES AND CASH RECEIVED FROM IT, THE ASSESSEE SUB MITTED THAT THE TRANSACTIONS WERE CARRIED OUT THROUGH THE CURRENT A CCOUNT OF THE PROPRIETOR OF M/S LAKHIA BROTHERS. THE ASSESSEE IN SUPPORT OF HIS CLAIM FILED THE COPY OF THE CURRENT ACCOUNT OF THE PROPRI ETOR WHERE THE IMPUGNED TRANSACTIONS WERE REFLECTING. THE ASSESSEE ALSO CLAIMED THAT THE BOOKS OF ACCOUNTS OF M/S LAKHIA BROTHERS WERE DULY AUDITED AND NO DEFECT OR WHATSOEVER WAS POINTED OUT. ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 8 - 22. HOWEVER, THE LEARNED CIT-A DISREGARDED THE C ONTENTION OF THE ASSESSEE AND CONFIRMED THE ORDER OF AO IN PART BY O BSERVING AS UNDER: DECISION: 3.3. I HAVE CONSIDERED THE FACTS OF THE CASE AN D SUBMISSION MADE BY THE APPELLANT. DURING THE ASSESSMENT PROCEE DINGS THE AO HAS NOTICED THAT DURING THE YEAR UNDER CONSIDE RATION THE ASSESSEE HAS DEPOSITED CASH AMOUNTING TO RS.32,64,0 00/- IN SAVINGS BANK ACCOUNT WITH BANK OF BARODA. THE AO HA S CALLED FOR EXPLANATION REGARDING NATURE AND SOURCE OF CASH DEPOSITED WITH ALL SUPPORTING EVIDENCES. THE AO HAS OBSERVED THAT THE ASSESSEE HAD NOT MAINTAINED REGULAR BOOKS OF ACCOUN TS AND PREPARED COPY OF BALANCE SHEET. THE AO HAS ALSO OBS ERVED THAT THE ASSESSEE HAS PREPARED ONLY CASH BOOK AND LEDGER ACCOUNT OF M/S.LAKHIA BROTHER & LAKHIA BROTHERS IQBALBHAI AND BANK BOOKS AND THESE ACCOUNT HAS BEEN PREPARED ONLY FOR EXPLAINING THE ISSUE QUESTIONED DURING THE ASSESSMENT PROCEEDI NGS. THE AO HAS FURTHER OBSERVED THAT THE ENTIRE CASH DEPOSIT E XPLAINED BY THE ASSESSEE WITHOUT EVIDENCES HENCE THE EXPLANATIO N DID NOT FOUND SATISFACTORY. ON THE BASIS OF TWO BANK ACCOUN TS OF THE ASSESSEE, THE DAY TO DAY CASH BALANCE IS WORKED OUT BY THE AO AND THE AO HAS FOUND THAT THE ASSESSEE WAS HAVING N EGATIVE CASH BALANCE ALMOST DURING THE YEAR AND THE HIGHEST NEGATIVE BALANCE IS AMOUNTING TO RS.28,87,550/-. THE AO HAS OBSERVED THAT THE ASESEE HAS FAILED TO FURNISH SUPPORTING EV IDENCES IN RESPECT OF CASH DEPOSIT AMOUNTING TO RS. 17,25,000/ - AND RS. 11,82,482/- CLAIMED TO HAVE BEEN RECEIVED FROM LAKHIA BROTHERS & LAKHIA BROTHERS IQBALBHAI. THEREFORE THE AO HAS MADE ADDITION OF RS.29,07,842/- AS UNEXPLAINED INVE STMENT. 3.4. DURING THE APPELLATE PROCEEDINGS THE APPELL ANT HAS CONTENDED THAT MOHAMMAD IQBAL SHAIKH, HIS FATHER, W AS THE POWER OF ATTORNEY HOLDER IN RESPECT OF THE PETROL P UMP BUSINESS BEING CARRIED OUT BY SHRI SHITAL LAKHIA IN THE NAME AND STYLE OF HIS PROPRIETARY CONCERN M/S.LAKHIA BROTHERS. IT IS FURTHER CONTENDED THAT HE WAS HOLDING CERTAIN CREDITS CARDS IN HIS NAME ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 9 - AND IN ORDER TO GENERATE TEMPORARY LIQUIDITY SHRI I QBAL SHAIKH SWIPED HIS CREDIT CARD SO AS TO TREAT THE CORRESPON DING CASH SALES OF PETROLEUM PRODUCTS OF M/S.LAKHIA BROTHERS AS REPRESENTING SUCH SALE AGAINST THESE CREDIT CARD AN D MADE THE UNDERLYING CASH AVAILABLE TO THE APPELLANT. FURTHER CONTENDED THAT WHILE THIS CYCLE WAS ROTATED SEVERAL TIMES DUR ING THE COURSE OF THE YEAR WHEN IT CAME TO DISCHARGING THE LIABILI TIES OF THE CREDIT CARD COMPANIES THE CASH SO MADE AVAILABLE IN THE EARLIER CYCLES WAS DEPOSITED IN THE SAVINGS BANK ACCOUNT OF THE APPELLANT AND CHEQUES WERE ISSUED THERE AGAINST IN FAVOUR OF THE RESPECTIVE CREDIT CARD COMPANIES. THE APPELLANT HAS ALSO CONTENDED THAT THE AGGREGATE CASH DEPOSIT TO THE EX TENT OF RS.L2,26,314/- IS SOURCED OUT OF THE CASH SO GENERA TED IN THE PRECEDING CYCLES OF TREATING CASH SALES AS THAT EFF ECTED AGAINST THE CREDIT CARD. THE APPELLANT HAS FURTHER SUBMITTE D THAT A FURTHER SUM AGGREGATING TO RS.L7,25,000/- DEPOSITED IN THE CASH IN THE BANK ACCOUNT IS SOURCED BY THE CORRESPONDING WITHDRAWALS MADE FROM THE BOOKS OF M/S.LAKHIA BROTH ERS AGAINST THE BACK TO BACK PAYMENTS MADE EARLIER BY C ROSSED ACCOUNT PAYEE BANK INSTRUMENT OF THE SAME AMOUNT IS SUED IN FAVOUR OF THIS ENTITY. THE APPELLANT SUBMITTED THAT THESE WERE THUS ONLY THE ACCOMMODATIVE TRANSACTION CARRIED OUT WITH M/S.LAKHIA BROTHERS SO AS TO ENSURE THAT THIS ENTIT Y CAN, IN TURN, MAKE TIMELY PAYMENTS TO THE PETROLEUM COMPANIES SO AS TO ENABLE IT TO ENSURE THE PERIODICAL PURCHASES AND RE CEIPTS OF THE PETROLEUM PRODUCTS SO ORDERED. IT IS THE CONTENTIO N OF THE APPELLANT THAT THE ORIGIN OF THESE TRANSACTIONS LIE S IN THE INITIAL BANK BALANCE OF EXCEEDING RS.2,55,000/- WHICH WAS T HERE IN THE SAVINGS BANK ACCOUNT OF SHRI IQBAL SHAIKH. THE APPE LLANT HAS ALSO CONTENDED THAT AS AGAINST AGGREGATE CASH OF RS .32,64,815/- DEPOSITED IN THE BANK ACCOUNT HE HAD ALSO MADE AGGR EGATE CASH WITHDRAWALS OF RS.3,94,800/- FROM HIS BANKING ACCOU NTS EARLIER AND THE SMEAR WAS THUS CLEARLY REQUIRED TO BE TELES COPED AGAINST EACH OTHER. THE APPELLANT HAS SUBMITTED THAT IN VIE W OF THE JUDGMENT OF HON'BLE SUPREME COURT IN THE CASE OF AN ANTRAM VEER SINGHAIAH & CO. 123 ITR 457 WHEREIN THE CONCEP T OF TELESCOPING IN APPROPRIATE CASES HAS CLEARLY BEEN A PPROVED AND ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 10 - UPHELD. THE APPELLANT HAS CONTENDED THAT NO ADVERSE REFERENCE IS THUS REQUIRED TO BE DRAWN IN SO FAR AS THE CASH DEPOSITS AGGREGATING TO RS.3,94,800/- IS CONCERNED AS THE SA ME HAS CLEARLY BEEN SOURCED FROM PRECEDING CASH WITHDRAWAL S FROM SAME BANKING ACCOUNTS. 3.5. DURING THE APPELLATE PROCEEDINGS A REPORT WAS CALLED FOR FROM THE AO VIDE THIS OFFICE LETTER DTD. 31.07.2014 AND IN RESPONSE TO THAT THE AO HAS SUBMITTED REMAND REPORT VIDE LETTER DTD. 16.10.2014 WHICH IS REPRODUCED AS UNDER:- '2. ON VERIFICATION OF THE WRITTEN SUBMISSIONS MADE BY THE AR OF THE APPELLANT IN THE FORM OF PAPER BOOK IT IS NOTIC ED THAT THE ASSESSEE HAS SUBMITTED NOTHING NEW IN THE PAPER BO OKS AS SUBMITTED DURING THE COURSE OF ASSESSMENT PROCEEDIN GS. WHATEVER DOCUMENT ASSESSEE NOW PRODUCE WERE ALREADY PRODUCED BEFORE THE ASSESSING OFFICER AT THE TIME OF ASSESSMENT PROCEED INGS. THESE HAVE ALREADY BEEN DULY EXAMINED AT THAT TIME AND TH E ASSESSING OFFICER HAS MENTIONED THIS FACT IN PARA -4 (II), 4( V), 4(IX), 4(X) TO 44(XII) OF HIS ASSESSMENT ORDER. THEREFORE, SINCE N O NEW DOCUMENTS HAS BEEN PRODUCE BEFORE ME IT IS SUBMITTED THAT THE FINDINGS OF THE ASSESSING OFFICER IN HIS ORDER MAY PLEASE BE CONSID ERED IN THIS REGARD. 3. IN VIEW OF THE ABOVE, THE LD. CIT(A) MAY DEC IDE THE ISSUE AS HE DEEMED FIT AFTER CONSIDERING FACTS MENTIONED ABO VE. ' 3.6. THE FACTS OF THE CASE AND SUBMISSIONS OF TH E APPELLANT ARE CONSIDERED. THE AO HAS EXAMINED THIS ISSUE IN DETAI L IN THE ASSESSMENT ORDER. FROM THE DOCUMENTS FURNISHED BY THE ASSESSEE DURING THE COURSE OF ASSESSMENT PROCEEDING S THE AO HAS OBSERVED AFTER EXAMINING THE SAME THAT SHRI IQB ALBAHI HAD MADE CERTAIN TRANSACTION ON BEHALF OF LAKHIA BROTHE RS AND THE ASSESSEE HAS PREPARED AND FURNISHED COPY OF LEDGER ACCOUNT MENTIONED ABOVE BUT HE COULD NOT FURNISH CONTRA COP Y OF ACCOUNT OR EVIDENCES IN SUPPORT OF HIS CLAIM THAT T HE TRANSACTION CLAIMED HAVE ACTUALLY BEEN CARRIED OUT. THE ASSESSE E HAS ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 11 - EXPLAINED THE SOURCE OF CASH DEPOSITS BY EXPLAINING THE MODUS OPERAND! BUT THAT IS NOT SUPPORTED BY ANY DOCUMENTA RY EVIDENCES FOR ESTABLISHMENT OF TRANSACTION CLAIMED AS ACTUALLY CARRIED OUT. IN RESPECT OF CASH RECEIPT AMOUNTING T O RS, 17,25,482/- AND RS.11,82,482/- THE ASSESSEE HAS EXP LAINED THAT IT HAS BEEN RECEIVED FROM LAKHIA BROTHERS IQBALBHAI AN D FROM LAKHIA BROTHERS BUT NO DOCUMENTARY EVIDENCES WERE FURNISHED FOR ESTABLISHING THE GENUINENESS OF THE TRANSACTION . THE ASSESSE HAS ALSO FAILED TO FURNISH COPY OF HIS ACCOUNTS FRO M BOOKS OF M/S. LAKHIA BROTHERS WHICH SHOWS THAT THE ASSESSEE HAVE ACTUALLY NOT MADE ANY CASH TRANSACTIONS WITH LAKHIA BROTHERS AND LAKHIA BROTHES IQBALBHAI. THE AO HAS ALSO ISSUE D SUMMONS U/S.131 OF THE ACT TO M/S.LAKHIA BROTHERS HOWEVER N EITHER THE OWNER OF M/S.LAKHIA BROTHERS ATTENDED AND FURNISHED DETAILS CALLED FOR NOR SHIR IQBALBHIA HAS FURNISHED THE DET AILS CALLED FOR. AS THE EXPLANATION FURNISHED BY THE APPELLANT IS NO T SUPPORTED WITH ANY DOCUMENTARY EVIDENCE THE AO HAS RIGHTLY MA DE THE ADDITION ON ACCOUNT OF CASH DEPOSITED IN THE BANK A CCOUNTS. 3.7. THE APPELLANT HAS CONTENDED THAT TELESCOPING B ENEFIT IN RESPECT OF CASH WITHDRAWALS OF RS.3,94,800/- WAS TO BE GIVEN AS NO ADVERSE VIEW HAS BEEN TAKEN BY THE AO WITH REGAR D TO THESE CASH WITHDRAWALS. THE CONTENTIONS OF THE APPELLANT TO THIS EXTENT ARE FOUND TO BE ACCEPTABLE. ACCORDINGLY THE AO IS D IRECTED TO GIVE TELESCOPING BENEFIT TO THE ASSESSEE IN RESPECT OF CASH WITHDRAWALS AGGREGATING TO RS.3,94,800/-. THUS THE GROUND RAISED BY THE APPELLANT IS PARTLY ALLOWED. 4. ACCORDINGLY, THE APPEAL STANDS PARTLY ALLOWED . 23. BEING AGGRIEVED BY THE ORDER OF THE LD. CI T (A), ASSESSEE IS IN APPEAL BEFORE US. THE LEARNED AR BEFORE US FILED A PAPER BOOK RUNNING FROM PAGES 1 TO 187 AND SUBMITTED THAT CREDIT CARDS WERE USED MAINLY AGAINST THE SALE OF THE PETROLS FROM M/S LAKHIA BRO THERS FOR THE PURPOSE ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 12 - OF GENERATING THE CASH. THE ASSESSEE IN SUPPORT OF HIS CLAIM DREW OUR ATTENTION ON THE PAGE 22 OF THE PAPER BOOK WHERE TH E DETAILS FOR THE USAGE OF CREDIT CARDS WAS PLACED AS REPRODUCED UNDER: NAME OF CARD HOLDER NAME OF BANK CREDIT CARD NO. TRANSACTIONS MADE WITH LAKHIA BROTHERS (RS.) MD.IQBAL SHAIKH CITI BANK 5546370629868010 346157 MD.IQBAL SHAIKH HDFC BANK LIMITED 4346781003439973 377232 MD.IQBAL SHAIKH ICICI BANK LIMITED 517718000048007 155169 MD.IQBAL SHAIKH ICICI BANK LIMITED 5546232901249507 377737 TOTAL 12256295 24. THE LD. AR IN SUPPORT OF HIS CONTENTION FILED THE COPIES OF THE LEDGERS OF ALL THE CREDIT CARDS ALONG WITH THE CRED IT CARD STATEMENTS WHICH ARE PLACED ON PAGES 23 TO 74 OF THE PAPER BOOK. 25. SIMILARLY, THE LD. AR SUBMITTED THAT THERE W AS BACK-TO-BACK TRANSACTION BETWEEN THE ASSESSEE AND M/S.LAKHIA BRO THERS AMOUNTING TO 17,25,000.00 ONLY. THE ASSESSEE USED TO ISSUE CHEQU ES TO M/S.LAKHIA BROTHERS OUT OF HIS SAVING ACCOUNT AGAINST THE CASH RECEIVED FROM M/S LAKHIA BROTHERS. AS SUCH THERE WAS NO ELEMENT OF PR OFIT IN THE TRANSACTION CARRIED OUT BETWEEN THE ASSESSEE AND M/ S.LAKHIA BROTHERS. THE LD. AR IN SUPPORT OF HIS CLAIM FILED THE COPY O F THE CURRENT ACCOUNT ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 13 - OF THE PROPRIETOR WHICH PLACED ON PAGES 85 TO 90 OF THE PAPER BOOK. THE LD. AR ALSO DREW OUR ATTENTION ON THE PASSBOOK OF S AVING BANK ACCOUNT OF THE ASSESSEE MAINTAINED WITH BANK OF BARODA WHICH I S PLACED ON PAGES 109 TO 122 OF THE PAPER BOOK. 26. THE LD. AR ALSO FILED THE LEDGER OF SHREE IQ BAL BHAI SHEIKH ALONG WITH THE RELEVANT PAGES OF PASS BOOK SHOWING CONTRA ENTRIES WHICH IS PLACED ON PAGES 75 TO 79 OF THE PAPER BOOK. 27. THE LD. AR ALSO FILED A COPY OF CASH FLOW ST ATEMENT REFLECTING THE AMOUNT GIVEN AND RECEIVED BACK FROM M/S LAKHIA BROT HERS ALONG WITH BANK STATEMENTS OF M/S. LAKHIA BROTHERS SHOWING COR RESPONDING ENTRIES WHICH IS PLACED ON PAGES 147 TO 187OF THE PAPER BOO K. 28. IN VIEW OF ABOVE, THE LD. AR FOR THE ASSESSE E SUBMITTED THAT THERE CANNOT BE ANY ADDITION ON ACCOUNT OF UNEXPLAINED IN VESTMENT UNDER SECTION 69 OF THE ACT. 29. ON THE OTHER HAND THE LD. DR SUBMITTED THAT THERE WAS NO INFORMATION PROVIDED BY THE ASSESSEE FOR THE USE OF THE CASH GENERATED FROM THE USE OF CREDIT CARDS. THERE IS NO INFORMATI ON WHERE THE MONEY HAS BEEN UTILISED WHETHER IT WAS INCURRED AS AN EXP ENSE OR INVESTED IN SOME PROPERTIES. THE LD. DR ALSO SUBMITTED THAT THE RE WAS NO APPEARANCE FROM M/S LAKHIA BROTHERS IN RESPONSE TO THE NOTICE ISSUED UNDER SECTION 131 OF THE ACT. THE LD. DR VEHEMENTLY SUPPORTED THE ORDER OF AUTHORITIES BELOW. ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 14 - 30. WE HAVE HEARD THE RIVAL CONTENTIONS AND PE RUSED THE MATERIALS AVAILABLE ON RECORD. IN THE INSTANT CASE THE ASSESS EE HAS DEPOSITED CERTAIN AMOUNT OF CASH IN HIS SAVING BANK ACCOUNT WHICH WAS TREATED AS UNEXPLAINED INVESTMENT UNDER SECTION 69 OF THE ACT. ACCORDINGLY, THE ADDITION WAS MADE BY THE AO AMOUNTING TO 29,07,842.00 ONLY. THE VIEW TAKEN BY THE AO WAS SUBSEQUENTLY CONFIRMED BY THE LEARNED CIT (A). 30.1. AT THIS JUNCTURE, WE FIND IMPORTANT TO REP RODUCE THE PROVISIONS OF SECTION 69 OF THE ACT WHICH READS AS UNDER: S.69 - UNEXPLAINED INVESTMENTS. WHERE IN THE FINANCIAL YEAR IMMEDIATELY PRECEDING T HE ASSESSMENT YEAR THE ASSESSEE HAS MADE INVESTMENTS WHICH ARE NO T RECORDED IN THE BOOKS OF ACCOUNT, IF ANY, MAINTAINED BY HIM FOR ANY SOURCE OF INCOME, AND THE ASSESSEE OFFERS NO EXPLANATION ABOU T THE NATURE AND SOURCE OF THE INVESTMENTS OR THE EXPLANATION OF FERED BY HIM IS NOT, IN THE OPINION OF THE [ASSESSING OFFICER], SAT ISFACTORY, THE VALUE OF THE INVESTMENTS MAY BE DEEMED TO BE THE IN COME OF THE ASSESSEE OF SUCH FINANCIAL YEAR. 31. A BARE READING OF THE ABOVE PROVISIONS REVE ALS THAT THERE HAS TO BE INVESTMENT MADE BY THE ASSESSEE WHICH HAS NOT BEEN RECORDED IN THE BOOKS OF ACCOUNTS OF THE ASSESSEE. IN THE INSTANT C ASE NONE OF THE AUTHORITY BELOW HAS BROUGHT ON RECORD SUGGESTING TH AT THE ASSESSEE HAS MADE ANY KIND OF INVESTMENTS. EVEN THE LD. DR BEFOR E US HAS NOT BROUGHT ANY EVIDENCE SHOWING THAT THE ASSESSEE HAS MADE INV ESTMENT OR UTILISED THE SAME FOR PERSONAL EXPENSES OUT OF THE CASH DEPO SITED IN THE BANK. ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 15 - 32. THERE IS NO AMBIGUITY THAT THE CREDIT CARD S WERE USED FOR THE PURCHASE OF PETROL TO THE EXTENT OF RS. 11,82,842.0 0 ONLY. IN OUR CONSIDERED VIEW, THE ACT OF PURCHASING THE PETROL C ANNOT BE TREATED AS INVESTMENT AS MANDATED UNDER SECTION 69 OF THE ACT. THUS, IT IS CLEAR THAT THE MONEY WHICH WAS DEPOSITED IN THE BANK ACCOUNT O F THE ASSESSEE WAS UTILISED FOR THE PURCHASE OF PETROL, THEREFORE, IT CAN BE CONCLUDED THAT THERE WAS NO INVESTMENT MADE BY THE ASSESSEE OUT OF THE CASH DEPOSITED IN THE SAVING BANK ACCOUNT TO THE EXTENT OF RS. 11, 82,842.00. 33. EVEN IT IS ASSUMED THAT THE CASH DEPOSITS RE PRESENTS THE INCOME OF THE ASSESSEE THEN ALSO THERE CANNOT BE ANY ADDITION UNDER SECTION 69 OF THE ACT TO THE EXTENT OF RS. 11,82,842.00. IT IS BE CAUSE THE MONEY DEPOSITED BY THE ASSESSEE WAS USED FOR THE PAYMENT OF THE CREDIT CARDS AMOUNTING TO 11,82,842.00 WHICH WAS USED FOR THE PURPOSE OF PURC HASE OF PETROL. THERE WAS NO INFORMATION EVIDENCING THAT THE ASSESSEE HAS USED THE CREDIT CARD FOR HIS PERSONAL PURPOSES SUCH AS T RAVELLING INSIDE OR OUTSIDE INDIA, MARRIAGE EXPENSES, FOOD EXPENSES AND EDUCATION EXPENSES OR FOR ANY BUSINESS EXPENSES ETCETERA CARRIED OUT B Y THE ASSESSEE. THE FREQUENCY OF THE TRANSACTIONS IN CREDIT CARDS SUGGE STS THAT IT WAS USED MAINLY FOR THE PURPOSE OF GENERATING TEMPORARY CASH ONLY WHICH CANNOT BE TREATED AS INCOME OF THE ASSESSEE. 34. THE PROVISION OF THE ACT REQUIRES TO TAX THE REAL INCOME OF THE ASSESSEE. THE USAGE OF THE CREDIT CARD VIZ A VIZ DE POSITING OF CASH IN THE ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 16 - SAVING BANK ACCOUNT DOES NOT REPRESENT THE REAL INC OME OF THE ASSESSEE IN THE GIVEN FACTS AND CIRCUMSTANCES. IN THIS REGARD, WE FIND SUPPORT & GUIDANCE FROM THE JUDGMENT OF C.I.T CENTRAL-III VS M/S EXCEL INDUSTRIES LTD IN CIVIL APPEAL NO.125 OF 2013 WHEREIN IT WAS HELD AS UNDER: 26. THIS COURT THEN CONSIDERED THE FACTS OF THE CAS E AND CAME TO THE CONCLUSION (IN GODHRA ELECTRICITY) THAT NO REAL INC OME HAD ACCRUED TO THE ASSESSEE IN RESPECT OF THE ENHANCED CHARGES FOR A V ARIETY OF REASONS. ONE OF THE REASONS SO CONSIDERED WAS A LETTER ADDRESSED BY THE UNDER SECRETARY TO THE GOVERNMENT OF GUJARAT, TO THE ASSESSEE WHERE BY THE ASSESSEE WAS ADVISED TO MAINTAIN STATUS QUO IN RESPECT OF ENHA NCED CHARGES FOR AT LEAST SIX MONTHS. THIS COURT TOOK THE VIEW THAT THO UGH THE LETTER HAD NO LEGAL BINDING EFFECT BUT ONE HAS TO LOOK AT THINGS FROM A PRACTICAL POINT OF VIEW. ( SEE R.B. JODHA MAL KUTHIALA V. COMMISSIONER OF INCO ME TAX , [1971] 82 ITR 570 (SC)). THIS COURT TOOK THE VIEW T HAT THE PROBABILITY OR IMPROBABILITY OF REALISATION HAS TO BE CONSIDERED I N A REALISTIC MANNER AND IT WAS HELD THAT THERE WAS NO REAL ACCRUAL OF INCOM E TO THE ASSESSEE IN RESPECT OF THE DISPUTED ENHANCED CHARGES FOR SUPPLY OF ELECTRICITY. THE DECISION OF THE HIGH COURT WAS, ACCORDINGLY, SET AS IDE. 27. APPLYING THE THREE TESTS LAID DOWN BY VARIOUS D ECISIONS OF THIS COURT, NAMELY, WHETHER THE INCOME ACCRUED TO THE ASSESSEE IS REAL OR HYPOTHETICAL; WHETHER THERE IS A CORRESPONDING LIAB ILITY OF THE OTHER PARTY TO PASS ON THE BENEFITS OF DUTY FREE IMPORT TO THE ASSESSEE EVEN WITHOUT ANY IMPORTS HAVING BEEN MADE; AND THE PROBABILITY OR IM PROBABILITY OF REALISATION OF THE BENEFITS BY THE ASSESSEE CONSIDE RED FROM A REALISTIC AND PRACTICAL POINT OF VIEW (THE ASSESSEE MAY NOT HAVE MADE IMPORTS), IT IS QUITE CLEAR THAT IN FACT NO REAL INCOME BUT ONLY HY POTHETICAL INCOME HAD ACCRUED TO THE ASSESSEE AND SECTION 28(IV) OF THE ACT WOULD BE INAPPLICABLE TO THE FACTS AND CIRCUMSTANCES OF THE CASE. ESSENTI ALLY, THE ASSESSING OFFICER IS REQUIRED TO BE PRAGMATIC AND NOT PEDANTI C. 35. THERE IS NO DOUBT THAT THE FATHER OF THE AS SESSEE I.E. SHREE IQBAL BHAI SHEIKH WAS WORKING IN A PETROL PUMP AS EVIDENT FROM THE POWER OF ATTORNEY FILED BY THE ASSESSEE PLACED ON PAGES 83 T O 84 OF THE PAPER BOOK. THE CREDIT CARDS WERE HELD IN THE NAME OF THE FATHE R AND THEIR USAGE WAS ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 17 - MAINLY FOR THE PURCHASE OF THE PETROL. THE PAYMENTS OF THESE CREDIT CARDS WERE MADE THROUGH THE SAVING BANK ACCOUNT OF THE AS SESSEE. 36. IN VIEW OF ABOVE, WE ARE RELUCTANT TO CONFI RM THE ORDER OF AUTHORITIES BELOW TO THE EXTENT OF RS. 11,82,842.00 ON ACCOUNT OF THE CASH GENERATED THROUGH USAGE OF CREDIT CARD. 37. REGARDING THE TRANSACTIONS CARRIED OUT BY THE ASSESSEE WITH THE M/S LAKHIA BROTHERS AMOUNTING TO 17,25,000, WE NOTE THAT THESE ARE REPRESENTING BACK-TO-BACK TRANSACTION BETWEEN THE A SSESSEE AND M/S LAKHIA BROTHERS. THIS FACT IS EVIDENT FROM THE CURR ENT ACCOUNT OF THE PROPRIETOR OF M/S LAKHIA BROTHERS AND THE SAVING BA NK ACCOUNT OF THE ASSESSEE. THE COPIES OF THE CURRENT CAPITAL ACCOUNT OF THE PROPRIETOR OF M/S LAKHIA BROTHERS AND THE SAVING BANK ACCOUNT OF THE ASSESSEE ARE PLACED ON PAGES 85 TO 90 AND 109 TO 122 OF THE PAPE RS BOOK. 38. IT IS ALSO IMPORTANT TO NOTE THAT THERE WAS NOT ANY LIABILITY IN THE BOOKS OF THE M/S LAKHIA BROTHERS IN THE NAME OF THE ASSESSEE. THE COPIES OF THE INCOME TAX RETURNS AND AUDITED FINANCIAL STA TEMENTS OF M/S LAKHIA BROTHERS ARE PLACED ON PAGES 91 TO 108 OF THE PAPER BOOK. 39. THERE WAS CASH FLOW STATEMENT FILED BY THE A SSESSEE PLACED ON PAGE 147 OF THE PAPER BOOK BUT NO DEFECT OF WHATSOEVER W AS POINTED OUT BY THE AUTHORITIES BELOW IN RESPECT OF SUCH STATEMENT. ITA NO.1147/AHD/2016 MOHAMMED IBRAHIM MOHAMMED IQBAL VS. ITO ASS T.YEAR 2010-11 - 18 - 40. HOWEVER, WE NOTE THAT THE ASSESSEE HIMSELF H AS ADMITTED AN INCOME OF 11,964.00 GENERATED FROM THE USE OF THE CREDIT CARD OF HIS FATHER. THEREFORE, IN OUR CONSIDERED VIEW SUCH INCOME IS LI ABLE TO TAX UNDER THE INCOME TAX ACT. 41. IN VIEW OF ABOVE, WE DELETE THE ADDITION MA DE BY THE AUTHORITIES BELOW AMOUNTING TO 29,07,842 EXCEPT A SUM OF 11,964.00 WHICH IS LIABLE TO BE ADDED TO THE TOTAL INCOME OF THE ASSES SEE. HENCE THE GROUND OF APPEAL OF THE ASSESSEE IS PARTLY ALLOWED. 42. IN THE RESULT THE GROUND OF APPEAL OF THE AS SESSEE IS PARTLY ALLOWED. THIS ORDER PRONOUNCED IN OPEN COURT ON 03/12/2018 SD/- SD/- (MS.MADHUMITA ROY) (WASEEM AH MED) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD; DATED 03/12/2018 &.., .(.. / T.C. NAIR, SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. )*+ , / CONCERNED CIT 4. , ( ) / THE CIT(A)-5, AHMEDABAD 5. /01 ((*+ , *+# , ) / DR, ITAT, AHMEDABAD 6. 145 6 / GUARD FILE. / BY ORDER, / ( //TRUE COPY// / ( DY./ASSTT.REGISTRAR) $%, / ITAT, AHMEDABAD