ACIT, Hubli V. M/s. Gurukrupa Agencies, Hubli

ITA 1375/BANG/2008

• Counselvise Citation: [2009] 114 COUNSELVISE.COM (IT) 9544 (ITAT-BANGALORE)
• Duration Of Justice: 9 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-08-2009
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 04-08-2009
• Assessment Year: 2001-2002
• Appeal Filed On: 14-11-2008
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: V S SREELEKHA
• Assessee Lawyers: V CHANDRASHEKAR

Judgement Text

ITA.1375/BANG/09 PAGE - 1 IN THE INCOME-TAX APPELLATE TRIBUNAL BANGALORE BENCH 'B' BEFORE SHRI. K. P. T. THANGAL, VICE PRESIDENT AND SHRI. K. K. GUPTA, ACCOUNTANT MEMBER I.T.A.NO.1375/BANG/2008 (ASSESSMENT YEAR : 2001-02 ) ASST. COMMISSIONER OF INCOME TAX, CIRCLE -2(1), HUBLI .. APPELLANT V. M/S. GURUKRUPA AGENCIES, MANIYAR BUILDING, KOPPIKAR ROAD, HUBLI .. RESPONDENT APPELLANT BY : SMT. V. S. SREELEKHA RESPONDENT BY : SHRI. V. CHANDRASHEKAR O R D E R PER K. P. T. THANGAL, VICE PRESIDENT : THIS APPEAL BY THE REVENUE IS FOR THE ASSESSMENT Y EAR 2001- 02. 2. IN THIS CASE ASSESSMENT WAS COMPLETED U/S.143(3) ON 31.3.2004 FIXING INCOME AT RS.71,57,940/-. AGGRIEVED BY THE ORDER OF THE REVENUE AUTHORITIES ASSESSEE APPEALED BEFORE THE TR IBUNAL AND THE TRIBUNAL REMANDED THE MATTER BACK TO THE FILE OF TH E ASSESSING OFFICER ITA.1375/BANG/09 PAGE - 2 FOR VERIFICATION OF THE ASSESSING OFFICER FOR VERIF ICATION OF THE DEPOSITS AND TO PASS APPROPRIATE ORDER IN ACCORDANC E WITH LAW. THE ASSESSEE WAS REQUESTED TO FILE THE DETAILS LIKE THE ADDRESS OF THE DEPOSITORS, RECEIPTS OF THE DEPOSIT, MODE OF PAYMEN T ETC., THE ASSESSEE CLAIMED THAT THE DEPOSITS WERE GENUINE BUT OFFERED RS.13,75,900/- TO TAX AS INCOME DURING THE COURSE O F SURVEY. THE ASSESSEE SUBMITTED THAT RS.49,04,200/- WAS CONSIDER ED AND RS.21,71,008/- WAS TAXED AFTER DEDUCTING GP ADDITIO N MADE OF RS.27,33,192/-. AS NOTED EARLIER, ONLY UNEXPLAINED DEPOSITS AMOUNTING TO RS.49,04,200/- WERE TO BE CONSIDERED. HOWEVER, THE ASSESSING OFFICER MADE THE ENTIRE IMPUGNED ADDITION U/S.68 AGAINST THE ASSESSEE'S ADMITTED INCOME OF RS.13,75,900/- FO R THE YEAR UNDER CONSIDERATION. THE ASSESSEE APPROACHED THE FIRST A PPELLATE AUTHORITY. 3. THE ASSESSEE SUBMITTED BEFORE THE COMMISSIONER O F INCOME- TAX(A) THAT THE ENTIRE DEPOSITS BELONGED TO SEVEN Y EARS PERIOD FROM ASSESSMENT YEARS 1997-98 TO 2003-04. ON FACTS THE ASSESSEE SUBMITTED THAT EXCEPT FOR THE ASSESSMENT Y EAR 2001- 02 I.E., FOR THE YEAR UNDER APPEAL, FOR THE PREVIOU S YEARS AND SUBSEQUENT YEARS, THE AMOUNT HAS ALREADY BEEN TAXED IN THE HANDS OF THE ASSESSEE IN THE REGULAR ASSESSMENT AND , THEREFORE, ITA.1375/BANG/09 PAGE - 3 ONLY THIS IMPUGNED AMOUNT OF RS.13,75,900/- IS TAXA BLE FOR THE YEAR UNDER CONSIDERATION. 4. THIS ARGUMENT WAS REPEATED BEFORE THE TRIBUNAL E VEN AT THIS STAGE BY THE REPRESENTATIVE FOR THE ASSESSE E. HOWEVER, THE LEARNED DR SUBMITTED THAT THESE FACTS ARE NOT C OMING OUT OF THE ORDER AND THE FACT MAY BE VERIFIED. 5. CONSIDERING THE RIVAL SUBMISSIONS, WE ARE OF THE VIEW THAT AS RIGHTLY CONTENDED BY THE DR, THE FACTUM OF THE PAYMENT OF TAX IS NOT COMING OUT OF THE ORDER OF THE ASSESS ING OFFICER OR OF THE COMMISSIONER OF INCOME-TAX(A). IN VIEW O F THE ABOVE, WE REMAND THE MATTER BACK TO THE FILE OF THE ASSESSING OFFICER SO AS TO VERIFY WHETHER THE AMOUNT HAS BEEN TAXED IN THE EARLIER AND SUBSEQUENT YEARS EXCEPT THE ADMITTE D FIGURE OF RS.13,75,900/-. WITH THE ABOVE OBSERVATION THE APP EAL BY THE REVENUE IS DISPOSED OFF ACCORDINGLY. ITA.1375/BANG/09 PAGE - 4 6. IN THE RESULT, THE APPEAL BY THE REVENUE IS ALLO WED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN OPEN COURT ON 21ST D AY OF AUGUST, 2009. SD/- SD/- (K. K. GUPTA) (K. P. T. THANGAL) ACCOUNTANT MEMBER VICE PRESIDENT BANGALORE DATED : 21ST AUGUST, 2009 MCN* COPY TO: 1. THE ASSESSEE 2. THE ASSESSING OFFICER 3. THE COMMISSIONER OF INCOME-TAX 4. COMMISSIONER OF INCOME-TAX(A) 5. DR 6. GF, ITAT, NEW DELHI 7. GF, ITAT, BANGALORE