Shri Vijay Kumar Mishra, Lucknow V. Income Tax Officer-IV(4), Lucknow

ITA 14/LKW/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 92149 (ITAT-LUCKNOW)
• Duration Of Justice: 4 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 24-04-2015
• Assessment Year: 2011-2012
• Appeal Filed On: 08-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HARISH GIDWANI
• Assessee Lawyers: D D CHOPRA
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A, LUCKNOW BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI. A. K. GARODIA, ACCOUNTANT MEMBER ITA NO.14/LKW/2015 ASSESSMENT YEAR:2011-12 SHRI. VIJAY KUMAR MISRA 8/257, JANKIPURAM VISTAAR JANKIPURAM, LUCKNOW V. INCOME TAX OFFICER IV(4) LUCKNOW TAN/PAN:AEAPM1295H (APPELLANT) (RESPONDENT) APPELLANT BY: SHRI. D. D. CHOPRA, ADVOCATE RESPONDENT BY: SHRI. HARISH GIDWANI, D.R. DATE OF HEARING: 24 04 2015 DATE OF PRONOUNCEMENT: 05 06 2015 O R D E R PER SUNIL KUMAR YADAV: THIS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) CONFIRMING THE ADDITION OF RS.80,000/- ON ACCOUNT OF CASH DEPOSITS IN BANK ON DIFFERENT DATES. 2. THE FACTS IN BRIEF BORNE OUT FROM THE RECORD ARE THAT DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE ASSESSING OFFICER HAS NOTED FROM THE BANK STATEMENTS THAT CASH OF RS.80,000/- WAS DEPOSITED ON FOUR OCCASIONS DURING THE ENTIRE FINANCIAL YEAR. IN RESPONSE TO A QUERY RAISED BY THE ASSESSING OFFICER, THE ASSESSEE HAS FILED WRITTEN SUBMISSIONS THAT RS.20,000/- WAS DEPOSITED ON 11.11.2010 OUT OF UNUSED AMOUNT OF MONEY WITHDRAWN FROM ATM FOR THE PURPOSE OF CONSTRUCTION OF HOUSE AND A SUM OF RS.25,000/- WAS DEPOSITED ON 24.11.2010 ON ITS RECEIPT FROM HER MOTHER OUT OF HER PENSION RECEIPTS AND A SUM OF RS.50,000/- WAS DEPOSITED ON :- 2 -: 27.10.2010 OUT OF LOAN RECEIVED FROM HIS DAUGHTER AND BALANCE RS.5,000/- WAS DEPOSITED ON 8.7.2010 OUT OF AVAILABLE SURPLUS CASH. THE EXPLANATIONS FURNISHED BY THE ASSESSEE WAS NOT ACCEPTED BY THE ASSESSING OFFICER AND ACCORDINGLY MADE ADDITION OF RS.80,000/- UNDER SECTION 68 OF THE ACT. 3. BEFORE THE LD. CIT(A), THE ASSESSEE REITERATED HIS EXPLANATIONS BUT WAS NOT ACCEPTED BY HIM AND HE CONFIRMED THE ADDITION. 4. NOW THE ASSESSEE IS BEFORE US WITH THE SUBMISSION THAT THE ASSESSEE IS A SENIOR GOVERNMENT OFFICER IN THE PLANNING DEPARTMENT OF U.P. GOVERNMENT AS SPECIAL SECRETARY AND WAS DRAWING SUBSTANTIAL AMOUNT OF SALARY. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, HE HAS EXPLAINED DEPOSITS IN BANK ON DIFFERENT OCCASIONS. IT WAS FURTHER CONTENDED THAT PROVISIONS OF SECTION 68 OF THE ACT CANNOT BE INVOKED FOR THE DEPOSIT IN BANK. THEREFORE, THE ADDITION DESERVES TO BE DELETED. 5. THE LD. D.R., ON THE OTHER HAND, HAS PLACED RELIANCE UPON THE ORDER OF THE LD. CIT(A). 6. HAVING CAREFULLY EXAMINED THE ORDERS OF THE LOWER AUTHORITIES IN THE LIGHT OF THE RIVAL SUBMISSIONS, WE FIND THAT THE ASSESSEE IS A SENIOR GOVERNMENT OFFICER AND WAS DRAWING HANDSOME SALARY, THEREFORE, IT CANNOT BE SAID THAT HE DID NOT HAVE CASH AVAILABLE OUT OF WHICH CERTAIN AMOUNT WAS DEPOSITED. THE ASSESSEE HAS FURNISHED NECESSARY EXPLANATIONS BEFORE THE LOWER AUTHORITIES THAT ABOUT RS.25,000/- WAS DEPOSITED AFTER RECEIPT FROM HIS MOTHER OUT OF HER PENSION. THE BALANCE AMOUNT OF RS.20,000/- WAS DEPOSITED OUT OF UNUSED AMOUNT OF MONEY WITHDRAWN FROM ATM FOR CONSTRUCTION OF HOUSE. THE OTHER SUBSTANTIAL AMOUNT OF RS.50,000/- HAS BEEN DEPOSITED ON RECEIPT OF LOAN FROM HIS DAUGHTER AND THE REVENUE HAS NOT BROUGHT ANYTHING ON RECORD TO CONTROVERT THE EXPLANATIONS FURNISHED BY THE ASSESSEE. THEREFORE, THE EXPLANATIONS OF THE ASSESSEE OUGHT TO HAVE BEEN ACCEPTED. SINCE THE ASSESSEE HAS FURNISHED SATISFACTORY EXPLANATIONS, :- 3 -: THE ADDITION MADE BY THE LOWER AUTHORITIES IS NOT SUSTAINABLE IN THE EYES OF LAW. WE ACCORDINGLY SET ASIDE THE ORDER OF THE LD. CIT(A) AND DELETE THE ADDITION. 7. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTIONED PAGE. SD/- SD/- [A. K. GARODIA] [SUNIL KUMAR YADAV] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 5 TH JUNE, 2015 JJ:0605 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR ASSISTANT REGISTRAR