SHRI RAMU NAICKER RAJA, ATTUR V. ACIT, CIRCLE-1, SALEM

ITA 123/CHNY/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1373 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-02-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2011-2012
• Appeal Filed On: 20-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: N NARAYANAN RETD
• Keywords: Unexplained cash credit; Set aside
• Section: 201; 68; 11

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI , , BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA , ACCOUNTA NT MEMBER I .T.A. NO. 123 /CHNY/20 20 ( ASSESSMENT YEAR S : 20 1 1 - 201 2 ) SHRI . RAMU NAICKER RAJA, PROP. M/S. R.R. PLAZA, NO.6, THAYUMANAVAR STREET, ATTUR 636 102 SALEM DISTRICT T.N. PAN : ACCPR 2046P VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCL E 1 , SALEM 636 007 TAMIL NADU ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : MR. N. NARAYANAN, RETD. ADDL. CIT /RESPONDENT BY : MR. SURESH PERIASAMY, JCIT / DATE OF HEARING : 0 8 . 0 2 .202 1 / DATE OF PRONOUNCEMENT : 09. 0 2 .2021 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER : TH E APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) , SALEM IN I.T.A. NO. 285/2018 - 19 DATED 2 2.11.2019 PERTAIN ING TO ASSESSMENT YEAR 201 1 - 201 2 . I . T . A NO 123/CHNY/2020 2. THE FACTS ARE IN BRIEF IS THAT THE ASSESSEE HAD FILED THE RETURN OF INCOME BY DECLARING A TOTAL INCOME OF RS.9,95,080/ - . THE ASSESSEE HAD NOT FILED THE RETURN OF INCOME WITHIN THE STIPULATED TIME AS PERMITTED U/S.139(1) AND THEREFORE THE ASSESSING OFFICER BY ISSUING A NOTICE U/S.147 OF THE INCOME TAX ACT, 1961, COMPLETED THE ASSESSMENT U/S.143(3) R.W.S.147 OF THE INCOME TAX ACT, 1961. IN THE ASSESSMENT ORDER THE ASSESSING OFFICER HAS NOTED THAT THE ASSESSEE HAS MADE A CASH DEPOSIT OF RS. 11,16,027/ - AND HAS NOT GIVEN ANY EXPLANATION AND THEREFORE THE ASSESSING OFFICER TREATED THE ENTIRE AMOUNT AS UNEXPLAINED CASH CREDIT TO THE BANK ACCOUNT OF THE ASSESSEE U/S. 68 OF THE INCOME TAX ACT, 1961 AND ACCORDI NGLY THE ASSESSMENT WAS COMPLETE. 3. BEFORE THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS), THE ASSESSEE HAS SUBMITTED THAT RS.4,55,000/ - HAS BEEN RECEIVED FROM HIS ELDE R SON AND RS.1,60,000/ - WAS RECEIVED FROM HIS WIFE AND RS.2,50,000/ - WAS RECEIVED FR OM HIS ANOTHER SON, SHRI . R. HARIHARAN AND THE REMAINING BALANCE AMOUNT WERE FROM PAST SAVINGS OF HIS FAMILY. I . T . A NO 123/CHNY/2020 4. THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) BY CONSIDERING THE EXPLANATION GIVEN BY THE ASSESSEE HAS OBSERVED THAT THE ASSESSEE HAS NOT FI LED ANY DETAILS AND THEREFORE CONFIRMED THE ORDER OF THE ASSESSING OFFICER. 5 . WE HAVE HEARD BOTH THE SIDES THROUGH VIDEO CONFERENCING, PERUSED THE MATERIALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. 6 . BEFORE US, BOTH THE PARTIES AGREED THAT THE ISSUE MAY BE REMITTED BACK TO THE ASSESSING OFFICER TO PASS AN ASSESSMENT ORDER DE NOVA IN ACCORDANCE WITH LAW. THE LEARNED COUNSEL FOR THE ASSESSEE HAD ALSO SUBMITTED THAT HE WILL FILE ALL THE RELEVANT DETAILS BEFORE THE ASSESSIN G OFFICER. 7 . IN VIEW OF THE ABOVE, WE SET ASIDE THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) AND DIRECT THE ASSESSING OFFICER TO PASS AN ASSESSMENT ORDER DE NOVA IN ACCORDANCE WITH LAW. I . T . A NO 123/CHNY/2020 8 . IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IN I.T.A NO. 123 /CHNY/20 20 IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED ON 9 TH F EBRUARY , 2021 IN CHENNAI. SD/ - ( ) ( G. MANJUNATHA ) /ACCOUNTANT MEMBER SD/ - ( ) ( V. DURGA RAO ) /JUDICIAL MEMBER / CHENNAI, / DATED: 9 TH FEBRUARY , 2021 IA , SR. P.S /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. () /CIT(A) 4. /CIT 5. /DR 6. /GF