Shri Dilip Jani, Ahmedabad V. The DY.CIT.,Cent.Circle-2(2), Ahmedabad

ITA 1386/AHD/2007

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 8787 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 11 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-03-2010
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 18-03-2010
• Assessment Year: 2001-2002
• Appeal Filed On: 05-04-2007
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: JAGDEO
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH D BEFORE SHRI T.K.SHARMA, JUDICIAL MEMBER AND SHRI N.S.SAINI, ACCOUNTANT MEMBER DATE OF HEARING : 18/03/2010 DRAFTED ON: 18/03/ 2010 ITA NOS.1386, 1387 & 1388/AHD/2007 ASSESSMENT YEARS: 2001-02, 2002-03 & 2003-04 RESPECTIVELY SHRI DILIP A.JANI 14,159, NETAJINAGAR AMBAJI TEMPLE MEGHANINAGAR AHMEDABAD VS. THE DY.CIT CENTRAL CIRCLE-2(2) AHMEDABAD PAN/GIR NO. : AAQPJ 7805 E (APPELLANT) .. (RESPONDENT) ASSESSEE BY: SHRI GAURAV NAHTA, A.R. REVENUE BY: SHRI JAGDEO, CIT O R D E R PER SHRI T.K.SHARMA, JUDICIAL MEMBER : THESE THREE APPEALS FILED BY THE ASSESSEE ARE AGAI NST THE COMMON ORDER DATED 31/01/2007 PASSED BY THE LEARNED CIT(AP PEALS)-III, AHMEDABAD FOR ASSESSMENT YEARS 2001-02, 2002-03 & 2003-04. 2. THE ONLY GRIEVANCE OF THE ASSESSEE IN THESE APPE ALS IS THAT THE LEARNED CIT(APPEALS) ERRED IN CONFIRMING THE ADDITI ON(S) U/S.68 OF THE I.T. ACT, 1961 TO THE EXTENT OF RS.2 LACS, RS.78,00 0/- AND RS.1,25,000/- FOR ALL THE THREE ASSESSMENT YEARS 2001-02, 2002-03 & 2003-04 RESPECTIVELY. ITA NOS.1386, 1387 & 1388/AHD/200 7 DILIP JANI VS. DY.CIT ASST.YEARS 2001-02, 2002-03 & 2003-04 ( RESPECTIVELY ) - 2 - 3. BRIEFLY STATED THE FACTS ARE THAT FOR THE ASSESS MENT YEARS UNDER APPEALS, THE ASSESSEE FILED HIS RETURN(S) OF INCOME U/S.153A(B) R.W.S. 143(3) OF THE I.T. ACT, 1961. THE ASSESSING OFFIC ER FRAMED THE ASSESSMENT, WHEREIN HE MADE THE ADDITION(S) U/S.68 OF THE I.T. ACT, 1961 IN ALL THE THREE ASSESSMENT YEARS UNDER APPEALS. O N APPEAL, IN THE IMPUGNED ORDER, THE LEARNED CIT(APPEALS) CONFIRMED THE ADDITION(S) TO THE EXTENT OF RS.2 LACS, RS.78,000/- AND RS.1,25,00 0/- FOR ALL THE THREE ASSESSMENT YEARS 2001-02, 2002-03 & 2003-04 RESPECT IVELY. 4. AGGRIEVED BY THE ORDER OF THE LD.CIT(APPEALS), T HE ASSESSEE IS IN APPEALS BEFORE US. 5. AT THE TIME OF HEARING ON BEHALF OF ASSESSEE, S HRI GAURAV NAHTA, LEARNED AUTHORISED REPRESENTATIVE OF THE ASSESSEE A PPEARED AND CONTENDED THAT TO PROVE THE GENUINENESS OF THE LOAN , ONE MORE OPPORTUNITY BE PROVIDED TO THE ASSESSEE AND MATTER BE SENT BACK TO THE FILE OF ASSESSING OFFICER. SHRI, JAGDEO-CIT, LEARNED D EPARTMENTAL REPRESENTATIVE APPEARED FOR THE REVENUE VEHEMENTLY OBJECTED TO THE PRAYER OF THE ASSESSEE. HE CONTENDED THAT ENOUGH OPPORTUNITY WAS ALLOWED TO THE ASSESSEE. WHATEVER MATERIAL/DOCUME NTS WERE FURNISHED, THE LEARNED CIT(APPEALS) AFTER CONSIDERING THE SAME RESTRICTED THE ADDITION(S) MADE U/S.68 OF THE I.T. ACT, 1961 TO TH E EXTENT OF RS.2 LACS, RS.78,000/- AND RS.1,25,000/- FOR ALL THE THREE AS SESSMENT YEARS 2001- 02, 2002-03 & 2003-04 RESPECTIVELY AND, THEREFORE, VIEW TAKEN BY THE LEARNED CIT(APPEALS) BE UPHELD. ITA NOS.1386, 1387 & 1388/AHD/200 7 DILIP JANI VS. DY.CIT ASST.YEARS 2001-02, 2002-03 & 2003-04 ( RESPECTIVELY ) - 3 - 6. WE HAVE HEARD BOTH THE SIDES AND CAREFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. IT IS PERTINENT T O NOTE THAT IN THE IMPUGNED ORDER, THE LEARNED CIT(APPEALS) HAS DULY C ONSIDERED EACH AND EVERY CONTENTION OF THE ASSESSEE AND, THEREAFTER, R ESTRICTED THE DISALLOWANCE TO THE EXTENT OF RS.2 LACS, RS.78,000/ - AND RS.1,25,000/- FOR ALL THE THREE ASSESSMENT YEARS 2001-02, 2002-03 & 2003-04 RESPECTIVELY. THE VIEW TAKEN BY THE LEARNED CIT(A PPEALS) IS FAIR ENOUGH AND REASONABLE AND NEEDS NO INTERFERENCE. W E, THEREFORE, DECLINE TO INTERFERE WITH THE COMMON ORDER OF THE LEARNED C IT(APPEALS). 7. IN THE RESULT, IN ALL THE THREE APPEALS ASSESSEE FAILS AND, THEREFORE, DISMISSED. ORDER SIGNED, DATED AND PRONOUNCED IN THE COURT ON 19/03/2010. SD/- SD/- ( N.S. SAINI ) ( T.K.SHARMA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 19/03/2010 T.C. NAIR COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT. 2. THE RESPO NDENT 3. THE CIT CONCERNED. 4. THE LD. CIT(AP PEALS)-III, AHMEDABAD 5. THE DR, AHMEDABAD BENCH6. THE GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT.REGISTRAR), ITAT, AHMEDABAD