Cinnasamy Saravanaprabhu, Tirupur V. ITO Ward 2(3), Tirupur

ITA 1178/CHNY/2018

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 5267 (ITAT-CHENNAI)
• Duration Of Justice: 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-04-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 06-04-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: JAYAGANESH
• Assessee Lawyers: S SRIDHAR ADV ERODE
• Keywords: Peak credit

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI , ! , ! & BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER STAY PETITION NO. 170 / CHNY /201 8 (IN ITA NO.1178/CHNY/2018) & ./ ITA NO.1178/CHNY/2018 /ASSESSMENT YEAR: 2013-14 SHRI CHINNASAMY SARAVANAPRABHU, 2/43, CHETTY THOTTAM, NACHIPALAYAM, TIRUPUR-641 606. [PAN: CYGPS 1774 K] VS. THE INCOME TAX OFFICER, WARD-2(3), TIRUPUR. ( ( /APPELLANT) ( )*( /RESPONDENT) ( + / APPELLANT BY : MR. S.SRIDHAR, ADV., ERODE )*( + /RESPONDENT BY : MR. JAYAGANESH, JCIT + /DATE OF HEARING : 27.04.2018 + /DATE OF PRONOUNCEMENT : 27.04.2018 / O R D E R PER GEORGE MATHAN , JUDICIAL MEMBER : THIS IS A STAY PETITION FILED BY THE ASSESSEE IN I TA NO.1178/CHNY/2018 FOR THE AY 2013-14. 2. SHRI JAYAGANESH, JCIT, REPRESENTED ON BEHALF OF THE REVENUE AND SHRI S.SRIDHAR, ADV., REPRESENTED ON BEHALF OF THE ASSESSEE. SP NO.170/CHNY/2018 & ITA NO.1178/CHNY/2018 :- 2 -: 3. IT WAS SUBMITTED BY THE LD.AR THAT THE ASSESSEE IS AN INDIVIDUAL WHO IS HAVING AGRICULTURAL INCOME. THE ASSESSEE HAD FI LED HIS RETURN OF INCOME ADMITTING AN INCOME OF RS.2,72,700/- AND AGRICULTUR AL INCOME OF RS.2,50,000/-. THE ASSESSMENT CAME TO BE COMPLETED, WHEREIN, THE CASH DEPOSIT TO THE BANK ACCOUNTS OF THE ASSESSEE WAS TR EATED AS UNEXPLAINED AND THE PEAK CREDIT IN THE BANK ACCOUNT ASSESSED TO TAX. IT WAS A SUBMISSION THAT THOUGH THE AO HAS HELD THAT THE ASS ESSEE IS HAVING INCOME FROM REARING OF GOATS, THIS WAS NOT TRUE. I T WAS A SUBMISSION THAT THE ASSESSEE WAS HAVING 60 ACRES OF AGRICULTURAL LA ND AND HIS MAIN INCOME IS FROM COCONUTS. IT WAS A SUBMISSION THAT THE EXP LANATION GIVEN BY THE ASSESSEE WAS ALSO NOT ACCEPTED BY THE AO OR THE LD. CIT(A). IT WAS A SUBMISSION THAT HE HAD NO OBJECTION, IF THE ISSUES ARE RESTORED TO THE FILE OF THE AO FOR RE-ADJUDICATION. IT WAS A PRAYER THA T THE ASSESSEE MAY ALTERNATIVELY BE GRANTED STAY OF RECOVERY OF THE DI SPUTED TAXES AS THE ASSESSEE HAS SUBSTANTIALLY GOOD CASE ON APPEAL. 4. IN REPLY, THE LD.DR SUBMITTED THAT THE ISSUES IN THIS APPEAL MAY BE RESTORED TO THE FILE OF THE AO FOR RE-ADJUDICATION AFRESH. IT WAS A SUBMISSION THAT THE ASSESSEE HAS NOT GIVEN PROPER E XPLANATION IN REGARD TO THE ENTRIES IN THE BANK ACCOUNT. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. SP NO.170/CHNY/2018 & ITA NO.1178/CHNY/2018 :- 3 -: 6. AS IT IS NOTICED THAT THE ISSUES IN THIS APPEAL HAVE NOT BEEN CONSIDERED BY THE AO BY PASSING SPEAKING ORDER, WE ARE OF THE VIEW THAT THE APPEAL OF THE ASSESSEE IS LIABLE TO BE DISPOSED OFF BY RESTORING TO THE FILE OF THE AO FOR RE-ADJUDICATION AND WE DO SO. I N THESE CIRCUMSTANCES, THE ISSUES IN THIS APPEAL ARE RESTORED TO THE FILE OF THE AO FOR RE- ADJUDICATION AFTER GRANTING THE ASSESSEE ADEQUATE O PPORTUNITY OF BEING HEARD. 7. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IN ITA NO.1178/CHNY/2018 STANDS PARTLY ALLOWED FOR STATIST ICAL PURPOSES. AS THE APPEAL OF THE ASSESSEE HAS BEEN DISPOSED OFF BY RES TORING TO THE FILE OF THE AO FOR RE-ADJUDICATION, THE STAY PETITION FILED BY THE ASSESSEE IN SP NO.170/CHNY/2018 STANDS DISMISSED AS INFRUCTUOUS. ORDER PRONOUNCED IN THE OPEN COURT ON APRIL 27, 20 18 AT CHENNAI. SD/- SD/- ( ) ( S. JAYARAMAN ) ! /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) ! /JUDICIAL MEMBER /CHENNAI, 2 /DATED: APRIL 27, 2018. TLN + )34 54 /COPY TO: 1. ( /APPELLANT 4. 6 /CIT 2. )*( /RESPONDENT 5. 4 ) /DR 3. 6 ( ) /CIT(A) 6. /GF