Appeal details
Counselvise Citation
[2011] 134 COUNSELVISE.COM (IT) 9798 (ITAT-HYDERABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
3 month(s) 28 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
18-02-2011
Appeal Filed By
Assessee
Order Result
Partly Allowed
Bench Allotted
A
Assessment Year
2008-2009
Appeal Filed On
21-10-2010
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A', HYDERABAD BEFORE SHRI G.C.GUPTA, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO.1330/HYD/10 : ASSTT . YEAR 2008-09 SHRI VINOD KUMAR KEDIA, HYDERABAD ( PAN AEOPK 6769 A ) V/S. ASST. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-4, HYDERABAD (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI R.B.KABRA RESPONDENT BY : SHRI V.SRINIVAS O R D E R PER G.C.GUPTA, VICE PRESIDENT: THIS APPEAL BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2008- 09 IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME -TAX(APPEALS). 2. GROUNDS OF APPEAL OF THE ASSESSEE ARE AS UNDER- '1. THE ORDER PASSED BY THE COMMISSIONER OF INCOME- TAX(APPEALS) IS ERRONEOUS IN LAW AND ON FACTS OF THE CASE. 2. THE COMMISSIONER OF INCOME-TAX(APPEALS) ERRED IN SUSTAINING THE ADDITION OF RS.1,35,150/- IN DISREGARD OF THE E XPLANATION OFFERED AND EVIDENCE AVAILABLE WITH THE DEPARTM ENT.' 3. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT TH ERE WAS SEARCH AND SEIZURE AT THE PREMISES OF THE ASSESSEE ON 1.2.20 08 AND DURING THE SEARCH AND SEIZURE OPERATION, CASH OF RS.84,35,150 WA S FOUND. ASSESSEE ADMITTED RS.83 LAKHS OUT OF CASH FOUND BY THE SEARCH PAR TY AND THE BALANCE ITA NO.1330./HYD/1 0 SHRI VINOD KUMAR KEDIA, HYDERABAD 2 AMOUNT OF RS.1,35,150 WAS CLAIMED AS AVAILABLE AS PER BOOKS OF ACCOUNT. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE DISPUT ED AMOUNT OF RS.1,35,150 IS COVERED WITH THE CASH AVAILABLE IN THE PERSONAL AS WELL AS IN THE HUF BOOKS OF ACCOUNT OF THE ASSESSEE. HE SUBMITTED THAT CONSIDERING SIMILAR FACTS, THE CIT(A) IN THE CASE OF M/S. BINJUSARIA ISPAT PVT. LTD., VIDE ORDER DATED 18.11.2010, HAS REFERRED THE MATTER TO T HE ASSESSING OFFICER TO VERIFY AND DECIDE THE ISSUE DE NOVO WITH A DIRECTION TH AT THE ASSESSING OFFICER MAY VERIFY FROM THE BOOKS OF ACCOUNT AND COMPACT DISC ACCO UNTS WHICH WERE SEIZED BY THE DEPARTMENT, AFTER PROVIDING OPPORTUNIT Y OF HEARING TO THE ASSESSEE. 4. THE LEARNED DEPARTMENTAL REPRESENTATIVE ON THE OTHER HAND, RELIED ON THE ORDERS OF THE ASSESSING OFFICER AND THE CIT (A). 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE P ERUSED THE ORDERS OF THE ASSESSING OFFICER AND THE CIT(A). WE FIND T HAT IN SIMILAR FACTS AND CIRCUMSTANCES, CIT(A) IN THE CASE OF ASSESSEE'S GROUP CO NCERN, M/S. BINJUSARIA EXPORTS P. LTD., VIDE ORDER DATED 18.11.20 10 HAS SET ASIDE THE ISSUE TO THE FILE OF THE ASSESSING OFFICER WITH A DIRECTIO N TO VERIFY THE MATTER IN THE LIGHT OF THE BOOKS OF ACCOUNT AND COMPACT DISC ACCO UNTS OF THE ASSESSEE WHICH WERE SEIZED BY THE DEPARTMENT AT THE TIME OF SEARCH AND TO DECIDE THE ISSUE AFRESH AFTER ALLOWING OPPORTUNITY OF H EARING TO THE ASSESSEE. WE SEE NO REASON FOR NON-VERIFICATION OF FACTS AND COMPACT DISC ACCOUNT SEIZED BY THE DEPARTMENT AS PER ACCOUNT BOOKS OF THE ASSESSE E. ACCORDINGLY, THE ISSUE IS RESTORED TO THE FILE OF THE ASSE SSING OFFICER WITH A DIRECTION TO DECIDE THE SAME AFRESH IN ACCORDANCE WITH LA W, AFTER NECESSARY VERIFICATION AS PER THE BOOKS OF ACCOUNT AND THE COMPACT D ISC ACCOUNTS OF THE ITA NO.1330./HYD/1 0 SHRI VINOD KUMAR KEDIA, HYDERABAD 3 ASSESSEE WHICH WERE SEIZED BY THE DEPARTMENT AND AFTER GI VING REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. WE DIRECT ACCORDIN GLY. 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT ON 18.2.2011 SD/- SD/- (CHANDRA POOJARI) (G.C.GUPTA) ACCOUNTANT MEMBER VICE PRESIDENT DT/- 18 TH FEBRUARY, 2011 COPY FORWARDED TO: 1. SHRI VINOD KUMAR KEDIA, C/O. M/S. R.B. KABRA & CO., CHARTERED ACCOUNTANTS, 4-1-917 PARSI LANE, TILAK ROAD, HYDERABAD 5 00 001. 2. ASSTT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-4. HYDERABAD 3. COMMISSIONER OF INCOME-TAX(APPEALS)-VII, HYDERABAD. 4. COMMISSIONER OF INCOME-TAX (CENTRAL), HYDERABAD 5. THE DEPARTMENTAL REPRESENTATIVE, ITAT, HYDERABAD. B.V.S
