Bimlesh Goyal , Howrah V. ITO, Ward - 47(1), Kolkata , Kolkata

ITA 1256/KOL/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 7210 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 07-06-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: ROBIN CHOWDHURY
• Section: 143(3); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH : KOLKATA [BEFORE HONBLE SHRI S.S. GODARA, JM] I.T.A NO. 1256/KOL/20 18 ASSESSMENT YEAR : 2014-1 5 BIMLESH GOYAL -VS- ITO, WARD-47(1), KOLKATA [PAN: AEAPG 9198 K] (APPELLANT) ( RESPONDENT) FOR THE APPELLANT : SHRI TARAK N ATH JAISWAL, ADVOCATE MRS. PUNAM KUMARI JAISWAL, ADVOCATE FOR THE RESPONDENT : SHRI ROBIN CHOWDHUR Y, ADDL. CIT DATE OF HEARING : 11.09.2018 DATE OF PRONOUNCEMENT : 28.09.2018 ORDER 1. THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014- 15 FALLS INTO QUESTION THE CIT(A)-14, KOLKATAS ORDER DATED 17.04.2018 PASSED IN CASE NO. 73/CIT(A)-14/WD-47(1)/2016-17 UPHOLDING THE ASSESSING OFFICERS ACTION ADDING CAS H DEPOSITS IN SAVINGS BANK ACCOUNT AND LOWER DRAWINGS OF RS. 95,000/- AND RS. 48,480/- ; RESPECTIVELY, IN PROCEEDINGS U/S 143(3) OF THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. I COME TO FORMER ISSUE OF UNEXPLAINED CASH DEPOS ITS THAT AMOUNTING TO RS. 95,000/-. BOTH THE LOWER AUTHORITIES HAVE HELD THE ASSESSEE NOT TO HAVE EXPLAINED SOURCE THEREOF IN ASSESSMENT AS WELL AS LOWER APPELLATE PROCEEDING S. I FIND THAT THE ASSESSEES DETAILED EVIDENCE ON RECORD AS PER HIS PROFIT AND LOSS ACCOU NT AT PAGE 8 OF THE PAPER BOOK 2 ITA NO.1256/KOL/2018 BIMLESH GOYAL A.YR. 2014-15 2 PERTAINING TO PRECEDING ASSESSMENT YEAR INDICATES C ASH IN HAND OF RS. 4,24,438/- AS ON 31.03.2013. THIS CLINCHING FIGURE HAS GONE UN RESUL TED FROM REVENUES SIDE. I DELETE THE IMPUGNED ADDITION OF RS. 95,000/- MADE BY BOTH THE LOWER AUTHORITIES U/S 68 THEREFORE. 3. COMING TO LATTER ISSUE OF LOWER WITHDRAWALS OF R S. 48,480/-, THE ASSESSEE IS FAIR ENOUGH IN NOT DISPUTING CORRECTNESS THEREOF IN PRIN CIPLE. HIS ONLY CASE IS THAT THE BOTH THE LOWER AUTHORITIES HAVE MADE THE IMPUGNED ADDITI ON ON HIGHER SIDE. I THEREFORE PARTLY ACCEPT ASSESSEES ARGUMENTS TO RESTRICT THE IMPUGN ED ADDITION TO A LUMPSUM AMOUNT OF RS. 10,000/- ONLY WITH A RIDER THAT THE SAME SHALL NOT BE TREATED AS A PRECEDENT IN ANY PRECEDING OR SUCCEEDING ASSESSMENT YEAR. ASSESSEE G ETS PART RELIEF TO THE ABOVE EXTENT. 4. THIS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOV E TERMS. ORDER PRONOUNCED IN THE COURT ON 28.09.2018 SD/- [ S.S.GODARA ] JUDICIAL MEMBER DATED : 28.09.2018 SB, SR. PS COPY OF THE ORDER FORWARDED TO: 1. BIMLESH GOYAL, 26, RAMLAL MUKHERJEE LANE, 2 ND FLOOR, SALKIA, HOWRAH-711106. 2. ITO, WARD-47(1), KOLKATA, 3, GOVT. PLACE (W), 1 ST FLOOR, KOLKATA-700001. 3..C.I.T(A).- 4. C.I.T.- KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVAT E SECRETARY HEAD OF OFFICE/D.D.O., ITAT, KOLKATA BENCHE S