HALIM AHMAD , JAMSHEDPUR V. ITO WARD-1(2), JAMSHEDPUR

ITA 141/RAN/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9532 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 9 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-03-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 15-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL: RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A NO.141/RAN/2018 ASSESSMENT YEAR: 2011-12 HALIM AHMAD L-1, 20, LUKA ROAD, SAKCHI, JAMSHEDPUR-831001. VS. ITO, WD-1(2), JAMSHEDPUR PAN/GIR NO. : ACUPA7122K ( APPELL ANT ) .. (RESPONDENT) APPELLANT BY SRI DEVESH PODDAR, ADVOCATE RESPONDENT BY SHRI AJAY KUMAR, ADDL. CIT(DR) DATE OF HEARING 03.03.2020 DATE OF PRONOUNCEMENT 03.03.2020 O R D E R S. S. GODARA(ORAL): THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2011-12 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS), JAMSHEDPUR DATED 15.02.2017 PASSED IN CASE NO.01/JSR/2014-15 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES ONLY GRIEVANCE RAISED IN THE INSTANT APPEAL SEEKS TO REVERSE THE LOWER AUTHORITIES ACTION ADDING BANK CREDITS AMOUNT OF RS.20,87,047/- OUT OF HIS TOTAL CASH DEPOSITS AMOUNTING TO RS.87,49,275/- AS UNEXPLAINED CASH CREDITS. SUFFICE TO SAY, IT TRANSPIRES THAT THE ASSESSEES TOTAL TURNOVER IN THE RELEVANT PREVIOUS YEAR COMES TO RS.1,19,41,795/- AS AGAINST CASH DEPOSITS OF RS.87,49,275/-. THIS TRIBUNALS COORDINATE BENCHS DECISION IN SRI PRASHANT KUMAR SINGH VS. ITO ITA NO.131&132/RAN/2017 DATED 27.11.17 HOLDS THAT NECESSARY PRESUMPTION IN SUCH AN INSTANCE IS THAT OF CASH DEPOSITS FORMING PART OF THE TURNOVER ONLY. I ADOPT THE FOREGOING REASONING MUTATIS MUTANDIS AND I.T.A NO.141/RAN/2018 HALIM AHMAD 2 DELETE THE IMPUGNED ADDITION OF RS.206047/-. THE REVENUES ARGUMENTS SUPPORTING THE IMPUGNED ADDITION ARE DECLINED THEREFORE. 3. THIS ASSESSEES APPEAL IS ALLOWED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 03.03.2020. SD/- (S. S. GODARA) JUDICIAL MEMBER DATED: 03.03.2020. RS COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) - 5. THE DR, ITAT, RANCHI 6. GUARD FILE BY ORDER SR. P.S., ITAT, RANCHI (ON TOUR)