Yacham Kalyana Chakravarthy, Hyderabad V. The Income Tax , Ward -1, Medak

ITA 1412/HYD/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 1410 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-01-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 14-09-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MAYA MAHESWARI
• Assessee Lawyers: B PEDDY RAJULU
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B, HYDERABAD BEFORE SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER ITA NO. 1412/HYD/2012 ASSESSMENT YEAR : 2009-10 YACHAM KALYANA CHAKRAVARTHY, APPELLANT MEDAK. (PAN ANSPK7429A) VS. INCOME-TAX OFFICER, RESPONDENT SIDDIPET. APPELLANT BY : SHRI B. PEDDY RAJULU RESPONDENT BY : SMT. MAYA MAHESWARI DATE OF HEARING : 01/01/2013 DATE OF PRONOUNCEMENT : 04/01/ 2013 ORDER PER B.R. BASKARAN, A.M.: THE APPEAL OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 29-06-2012 MADE BY LEARNED CIT(A)-IV, HYDERABAD AN D IT RELATES TO THE ASSESSMENT YEAR 2009-10. THE SOLITARY ISSUE UR GED IN THIS APPEAL RELATES TO THE ADDITION OF RS.34,38,900/- RELATING TO UNEXPLAINED DEPOSITS. 2. THE FACTS RELATING TO THE ISSUE ARE STATED IN BR IEF. THE ASSESSEE IS ENGAGED IN FINANCE BUSINESS. THE ASSESSING OFFI CER OBTAINED A BANK STATEMENT MAINTAINED WITH ICICI BANK BY THE ASSESSE E AND SOUGHT CLARIFICATIONS ABOUT THE DEPOSITS MADE THEREIN. TH OUGH THE ASSESSEE FURNISHED THE DETAILS OF DEPOSITS AS UNDER, YET HE DID NOT FILE ANY EVIDENCE IN SUPPORT OF THE SAME. 2 ITA NO. 1412/HYD/2012 YACHAM KALYANA CHAKRAVARTHY DEPOSITS MADE FROM GAYATRI GUNNIES - RS.16,79,860/ - SRI K. PRAMOD KUMAR - RS. 9,00,000/ - OPTIVAL HEALTH SOLUTIONS - RS. 8,59,040 /- -------------------- RS. 34,38,900/- ========== HENCE, THE ASSESSING OFFICER TREATED THE ABOVE SAID AMOUNT AS UNEXPLAINED DEPOSITS AND ADDED THE SAME TO THE TOTA L INCOME OF THE ASSESSEE. THE LEARNED CIT(A) ALSO CONFIRMED THE SAID ADDITION. HENCE THE ASSESSEE IS IN APPEAL BEFORE US. 3. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITT ED THAT THE ASSESSEE SUBMITTED EVIDENCES BEFORE THE LEARNED CI T(A), BUT THE FIRST APPELLATE AUTHORITY REFUSED TO ADMIT THEM. ACCORDI NGLY, THE LEARNED A.R PRAYED THAT THE EVIDENCES FILED BY THE ASSESSE E BE ADMITTED AND THE NECESSARY JUSTICE BE RENDERED TO THE ASSESSEE. 4. ON THE CONTRARY, THE LEARNED D.R, BY DRAWING OUR ATTENTION TO PARAGRAPH 6.4 OF THE ORDER OF LEARNED CIT(A), SUBMI TTED THAT THE ASSESSEE HAS FAILED TO FURNISH THE REASONS FOR NOT SUBMITTING THESE EVIDENCES BEFORE THE ASSESSING OFFICER. 5. WE HAVE HEARD THE RIVAL CONTENTIONS AND CARE FULLY PERUSED THE RECORD. ADMITTEDLY, THE ASSESSEE DID NOT FURNISH A NY EVIDENCE BEFORE THE ASSESSING OFFICER TO PROVE THE CLAIM OF THE REC EIPT OF MONEY FROM OTHERS FOR MAKING THE DEPOSITS INTO HIS BANK ACCOUN T. THE LEARNED CIT(A) HAS ALSO REFUSED TO ADMIT THE EVIDENCES FILE D BEFORE HIM FOR TECHNICAL REASONS. HOWEVER, IN THE INTEREST OF NAT URAL JUSTICE, WE ARE OF THE VIEW THAT THE DEPARTMENT WOULD NOT BE PREJUD ICED BY GIVING ONE 3 ITA NO. 1412/HYD/2012 YACHAM KALYANA CHAKRAVARTHY MORE OPPORTUNITY TO THE ASSESSEE. RATHER, IT WOULD PROMOTE CAUSE OF JUSTICE. ACCORDINGLY, WE SET ASIDE THE ORDER OF LE ARNED CIT(A) AND RESTORE THE MATTER TO THE FILE OF THE ASSESSING OFF ICER WITH THE DIRECTION TO EXAMINE THE IMPUGNED ISSUE AFRESH BY DULY CONSID ERING THE EVIDENCES THAT WERE FILED BEFORE LEARNED CIT(A) AN D ALSO ANY OTHER EVIDENCE THAT MAY BE FILED BEFORE HIM AND TAKE APPR OPRIATE DECISION IN ACCORDANCE WITH THE LAW. NEEDLESS TO MENTION, THE ASSESSEE SHOULD BE GIVEN NECESSARY OPPORTUNITY OF BEING HEARD. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS TREATED AS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON 04/01/2013. SD/- SD/- (ASHA VIJAYARAGHAVAN) (B.R. BASKARAN) JUDICIAL MEMBER ACCOUNTANT ME MBER HYDERABAD, DATED: 4 TH JANUARY, 2013 COPY TO:- 1) YACHAM KALYAN CHAKRAVATHY, C/O A.V. RAGHURAM & K. VASANTKUMAR, ADVOCATES, 610, 6 TH FLOOR, BABUKHAN ESTATE, BASHEERBAGH, HYDERABAD 500001. 2) ITO, WARD 1, SIDDIPET, 3) THE CIT(A)-IV, HYDERABAD 4) CIT-III, HYDERABAD 5) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABAD.