Md. Mosiur Zaman(Sk. Milon), Paschim Medinipur V. Add.CIT,Range-1, Midnapore, Paschim Medinipur

ITA 1320/KOL/2012

• Counselvise Citation: 132023514 RSA 2012
• Duration Of Justice: 1 year(s) 10 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-07-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 07-10-2013
• Assessment Year: 2007-2008
• Appeal Filed On: 13-09-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P B PRAMANIK JDIT
• Assessee Lawyers: MD MOSIUR ZAMAN SK MILON

Judgement Text

I.T.A. NO. 1320/KOL./2012 ASSESSMENT YEAR: 2007-08 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI SHAMIM YAHYA (ACCOUNTANT MEMBER), AND SHRI GEORGE MATHAN (JUDICIAL MEMBER) I.T.A. NO. 1320/KOL. / 2012 ASSESSMENT YEAR : 2007-2008 MD. MOSIUR ZAMAN (SK. MILON)............. ..APPELLANT BIDHAN NAGAR WEST AVENUE NO. 3, P.O. MIDNAPUR, DIST. PASCHIM MIDNAPUR-721101 [PAN : ADVPM 0100 D] -VS.- ADDITIONAL COMMISSIONER OF INCOME TAX,........... .RESPONDENT RANGE-1, MIDNAPUR, P.O. MIDNAPORE, DIST. PASCHIM MIDNAPUR-721101 APPEARANCES BY: MD. MOSIUR ZAMAN (SK. MILON), FOR THE ASSESSEE SHRI P.B. PRAMANIK, JDIT, SR. D.R., FOR THE DEPARTMENT DATE OF CONCLUDING THE HEARING : JULY 10, 2014 DATE OF PRONOUNCING THE ORDER : JULY 14, 2014 O R D E R PER GEORGE MATHAN: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-XXXVI, KOLKATA IN APPEAL NO. 864/CIT(A)-XXXVI/KOL/ADDL. CIT. R.-1/MID/09-10 DATE D 13.02.2012 FOR THE ASSESSMENT YEAR 2007-08. 2. THE ASSESSEE APPEARED IN PERSON AND SHRI P.B. PR AMANIK, LD. JDIT, SR. D.R., REPRESENTED ON BEHALF OF THE REVENUE. 3. THE APPEAL FILED BY THE ASSESSEE IS DELAYED BY 1 53 DAYS FOR WHICH THE ASSESSEE HAS FILED CONDONATION PETITION. THE AS SESSEE HAS MENTIONED THAT THE REASON FOR THE DELAY WAS DUE TO THE MEDICA L REASONS AS THE I.T.A. NO. 1320/KOL./2012 ASSESSMENT YEAR: 2007-08 PAGE 2 OF 3 ASSESSEE WAS SUFFERING FROM TYPHOID AND CONSEQUENTL Y FROM ANEMIA. NECESSARY MEDICAL CERTIFICATES HAD ALSO BEEN PLACED . 4. WE HAVE CONSIDERED THE REASONS AND WE FIND THAT THE DELAY IS BONAFIDE AND CONSEQUENTLY WE CONDONE THE DELAY. 5. IT WAS SUBMITTED BY THE ASSESSEE THAT HE IS HAVI NG INCOME FROM PROFESSION AND IS HAVING INCOME FROM HOUSE PROPERTY ALSO. IT WAS THE SUBMISSION THAT IN THE COURSE OF ASSESSMENT, IT WAS NOTICED THAT THE ASSESSEE HAD FIXED DEPOSITS WITH CENTRAL BANK OF IN DIA, MIDNAPORE. IT WAS THE SUBMISSION THAT HE WAS ASKED TO PREPARE HIS BAL ANCE-SHEET AND IN HIS BALANCE-SHEET HE HAD BY MISTAKE NOT INCLUDED THE FI XED DEPOSITS OF RS.1,93,576/- WITH CENTRAL BANK OF INDIA, MIDNAPORE . IT WAS THE SUBMISSION THAT THE ASSESSING OFFICER HAD CONSEQUEN TLY MADE THE ADDITION OF FIXED DEPOSITS. IT WAS THE SUBMISSION THAT THE F IXED DEPOSITS WERE OUT OF HIS SAVINGS AS ALSO OUT OF THE DEPOSITS IN RESPE CT OF THE HOUSE PROPERTY, FROM WHICH HE HAS BEEN DECLARING INCOME FROM HOUSE PROPERTY. IT WAS THE PRAYER THAT THE ADDITION MAY BE DELETED. 6. IN REPLY, LD. SR. D.R. SUBMITTED THAT THE ASSESS EE WAS UNABLE TO EXPLAIN WHY THE FIXED DEPOSITS WERE NOT SHOWN IN TH E BALANCE-SHEET. IT WAS THE SUBMISSION THAT THE ADDITION WAS LIABLE TO BE CONFIRMED. 7. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. A PERU SAL OF THE ASSESSMENT ORDER CLEARLY SHOWS THAT THE TOTAL INCOM E OF THE ASSESSEE IS RS.2,07,728/-. ADMITTEDLY THIS AMOUNT ITSELF IS ADE QUATE TO COVER THE FIXED DEPOSITS OF RS.1,93,576/-. FURTHER THE PROFES SION OF THE ASSESSEE NOR THE SOURCE OF INCOME OF THE ASSESSEE REQUIRED T HE ASSESSEE TO MAINTAIN ANY PROFIT & LOSS A/C AS PER THE INCOME TA X ACT. THE ASSESSEE HAVING PREPARED A BALANCE-SHEET, JUST BECAUSE THERE IS A MISTAKE IN THE PREPARATION OF BALANCE-SHEET WOULD NOT MAKE THE FIX ED DEPOSITS AS UNEXPLAINED INCOME OF THE ASSESSEE. FURTHER IT HAS NEITHER BEEN VERIFIED I.T.A. NO. 1320/KOL./2012 ASSESSMENT YEAR: 2007-08 PAGE 3 OF 3 BY THE ASSESSING OFFICER AS TO WHETHER THE FIXED DE POSITS RELATE TO THE ASSESSEE FOR THE RELEVANT ASSESSMENT YEAR. THE ASSE SSEE HAS CLEARLY MENTIONED THAT THE FIXED DEPOSITS WERE OUT OF HIS R EGULAR INCOME AND THE SECURITY DEPOSIT FROM THE PROPERTIES. IN THESE CIRC UMSTANCES CONSIDERING THE FACT THAT THE ASSESSEE HAS DISCLOSED AN INCOME OF RS.2,07,728/- WHICH AFTER TAKING INTO CONSIDERATION THE BASIC EXEMPTION ITSELF WOULD SHOW MINIMUM INCOME OF MORE THAN RS.3,50,000/-, WE ARE O F THE VIEW THAT THE ADDITION MADE ON ACCOUNT OF THE FIXED DEPOSITS IS N OT CALLED FOR AS THE SAID FIXED DEPOSIT ITSELF WOULD STAND EXPLAINED BY THE INCOME DISCLOSED BY THE ASSESSEE. IN THESE CIRCUMSTANCES, THE ADDITI ON AS MADE BY THE ASSESSING OFFICER AND AS CONFIRMED BY THE LD. CIT(A PPEALS) STANDS DELETED. 8. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 14 TH JULY, 2014. SD/- SD/- SHAMIM YAHYA GEORGE MATHAN (ACCOUNTANT MEMBER) (JU DICIAL MEMBER) KOLKATA, THE 14 TH DAY OF JULY, 2014 COPIES TO : (1) MD. MOSIUR ZAMAN (SK. MILON), BIDHAN NAGAR WEST AVENUE NO. 3, P.O. MIDNAPORE, DIST. PASCHIM MIDNAPORE-721101 (2) ADDITIONAL COMMISSIONER OF INCOME TAX RANGE-1, MIDNAPUR, P.O. MIDNAPORE, DIST. PASCHIM MIDNAPUR-721101 (3) COMMISSIONER OF INCOME-TAX (APPEALS) (4) COMMISSIONER OF INCOME TAX (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.