ITO, Dhanbad V. Sri Manoj Kumar Sinha, Dhanbad

ITA 117/RAN/2012

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 0334 (ITAT-RANCHI)
• Duration Of Justice: 3 year(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-10-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 08-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A RAKSHIT

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL: CIRCUIT BENCH : RANCHI [BEFORE HONBLE S/SHRI N. S. SAINI, AM AND GEORGE M ATHAN, JM] ITA NO. 117/RAN/2012 ASSESSMENT YEAR: 2006-07 THE INCOME TAX OFFICER, WARD 1 (4), 2 ND FLOOR, AAYAKAR BHAWAN, L. C. ROAD, DHANBAD VS SRI MANOJ KUMAR SINHA, PROP. MAYANK ENTERPRISES, KATRAS ROAD, MATKURAI, DHANBAD PAN: APZPS3615R (APPELLANT) (RESPONDENT) APPELLANT BY SHRI A. RAKSHIT, DR RESPONDENT BY NONE DATE OF HEARING: 27-10-2015 DATE OF PRONOUNCEMENT: 27-10-2015 O R D E R PER GEORGE MATHAN, JM: THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE LEARNED CIT(A), DHANBAD (JHARKHAND) IN APPEAL NO.95 /DHN/2009-10 DATED 31-07-2012 FOR THE ASSESSMENT YEAR 2006-07. 2. SHRI A. RAKSHIT, DR REPRESENTED ON BEHALF OF THE REVENUE AND NONE REPRESENTED ON BEHALF OF THE ASSESSEE. 3. THE LEARNED DR SUBMITTED THAT IT WAS NOTICED IN THE COURSE OF ASSESSMENT PROCEEDINGS THAT THE ASSESSEE HAD SHOWN ADVANCE OF RS.31,95,000/- IN ITS BOOKS OF ACCOUNT. THE SAID AD VANCE REPRESENTED AS PER THE ASSESSEE LOANS TAKEN FROM VARIOUS RELATI VES AND FROM OTHER FRIENDS AND CREDITORS TO AN EXTENT OF RS.16,00,000/ -. AN AMOUNT OF RS.19,95,000/- WAS RECEIVED THROUGH CHEQUES FROM TE N PERSONS AND ITA NO.117/RAN/2012 (AY: 2006-07) 2 AN AMOUNT OF RS.12,00,000/- WAS RECEIVED FROM SIXTY FIVE PERSONS ON AN AVERAGE OF RS.18,500/- FROM EACH OF SUCH PERSONS . IT WAS A SUBMISSION THAT THE AO HAD TREATED THE LOAN DISCLOS ED AS BOGUS AND HAD TREATED THE SAME AS INCOME FROM UNDISCLOSED SOU RCES. IT WAS A SUBMISSION THAT ON APPEAL, THE LEARNED CIT(A) BY FO LLOWING THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT I N THE CASE OF CIT VS GIRIDHAR AGENCY [TAX CASE NO.02 OF 1999 ORDER DATED 09/07-09-2010] WHICH HAS BEEN EXTRACTED IN THE ORDER OF THE LEARNE D CIT(A), DELETED THE ADDITION TO AN EXTENT OF RS.13,45,000/- OUT OF THE AMOUNTS RECEIVED BY CHEQUES BY HOLDING THAT THE SAID PERSON S WERE INCOME TAX ASSESSEE. IT WAS A SUBMISSION THAT THE ORDER OF THE LEARNED CIT(A) IS LIABLE TO BE REVERSED. 4. WE HAVE CONSIDERED THE SUBMISSIONS OF THE LEARNE D SR. DR. AS IT IS NOTICED THAT THE LEARNED CIT(A) HAS FOLLOWED THE PRINCIPLES LAID DOWN BY THE HONBLE JURISDICTIONAL HIGH COURT OF JHARKHA ND FOR DELETING THE ADDITION TO THE EXTENT OF RS.13,45,000/- AND FOLLOW ED THE PRINCIPLE OF JUDICIAL DISCIPLINE, WE FIND NO REASON TO INTERFERE IN THE ORDER OF THE LEARNED CIT(A). IN THE CIRCUMSTANCES, THE FINDINGS OF THE LEARNED CIT(A) ON THIS ISSUE STANDS CONFIRMED. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE S TANDS DISMISSED. THE ORDER WAS PRONOUNCED IN THE OPEN COURT AT THE C LOSE OF HEARING ON 27-10-2015. ( N .S. SAINI ) ACCOUNTANT MEMBER (GEORGE MATHAN ) JUDICIAL MEMBER DATE : 27.10.15 LK DEKA/SR.PS ITA NO.117/RAN/2012 (AY: 2006-07) 3 COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) - 5. THE DR, ITAT, RANCHI 6. GUARD FILE BY ORDER DATE INITIAL ORIGINAL DICTATION PAD & DRAFT ARE ENCLOSED IN THE FILE 1. DRAFT DICTATED ON 27.10.15 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 27.10.15 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 27.10.15 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER 27.10. 15 JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS 27.10.15 S R.PS 6. DATE OF PRONOUNCEMENT 27.10.15 SR.PS 7. FILE SENT TO THE BENCH CLERK 27.10.15 SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER