Sahana Mukherjee , Howrah V. ITO, Ward - 47(4), Kolkata , Kolkata

ITA 1470/KOL/2018

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 9763 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-12-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 09-07-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: MIRAJ D. SHAH
• Keywords: Business income

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER] I.T.A. NO. 1470/KOL/2018 ASSESSMENT YEAR: 2013-14 SAHANA MUKHERJEE...........APPELLANT 4/2/2, DINO MASTER LANE HOWRAH 711 103 [PAN : AJGPM 6189 B] INCOME TAX OFFICER, WARD-47(4), KOLKATA.......RESPONDENT APPEARANCES BY: SHRI MIRAJ D. SHAH, A/R, APPEARED ON BEHALF OF THE ASSESSEE. SHRI NICHOLAS MURMU, JCIT, APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : NOVEMBER 28 TH , 2018 DATE OF PRONOUNCING THE ORDER : DECEMBER 12 TH , 2018 O R D E R PER J. SUDHAKAR REDDY :- THIS APPEAL FILED BY THE ASSESSE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)- 14, KOLKATA, (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 21/05/2018, FOR THE ASSESSMENT YEAR 2013-14. 2. THE ASSESSEE IS AN INDIVIDUAL AND DEALS IN PRINTING WORKS. THE SOLE ISSUE THAT ARISE FOR OUR CONSIDERATION IS WHETHER THE ASSESSEE HAD DISCLOSED HER INCOME EARNED FROM INTEREST IN HER RETURN OF INCOME. FROM THE 26AS DETAILS IT WAS FOUND THAT THE ASSESSEE HAD RECEIVED/ACCRUED INTEREST INCOME FROM FIXED DEPOSIT OF RS.3,83,053/-. TDS WAS DULY DEDUCTED FROM THIS INTEREST. AS PER THE ASSESSING OFFICER THIS INTEREST. AS PER THE ASSESSING OFFICER THIS INTEREST WAS NOT DISCLOSED IN THE RETURN OF INCOME. SIMILARLY, INTEREST INCOME FROM KVP OF RS.95,000/-, FROM MIS OF RS.1,25,000/- AND RD OF RS.1780/-, WERE ALLEGEDLY NOT DISCLOSED BY HER IN HER RETURN OF INCOME. HENCE THE ASSESSING OFFICER MADE THE ADDITION OF RS.6,01,033/-. 2 I.T.A. NO. 1470/KOL/2018 ASSESSMENT YEAR: 2013-14 SAHANA MUKHERJEE 3. THE ASSESSEES SUBMISSION BEFORE THE LD. CIT(A) WAS THAT THE INCOME FROM INTEREST IN QUESTION WAS TAKEN INTO ACCOUNT BUT WAS WRONGLY REFLECTED AND INCLUDED IN THE CONTRACT RECEIPTS. A REVISED STATEMENT OF ACCOUNT WAS GIVEN AND IT WAS ARGUED THAT THERE IS NO SUPPRESSION AS THE INTEREST INCOME IN QUESTION. IT WAS DISCLOSED IN ANOTHER HEAD I.E. BUSINESS RECEIPTS. THE LD. CIT(A) DID NOT ACCEPT THIS EXPLANATION AS THE ASSESSEE DOES NOT MAINTAIN BOOKS OF ACCOUNT. BEFORE US, THE ASSESSEE SUBMITTED A RECONCILIATION STATEMENT AS WELL AS A REVISED COMPUTATION OF INCOME TO DEMONSTRATE THAT IF THE AMOUNT IN QUESTION IS DEDUCTED FROM BUSINESS RECEIPTS AND INCLUDED UNDER THE HEAD INCOME FROM OTHER SOURCES, THEN THERE WOULD BE NOT DIFFERENCE IN THE RETURN OF INCOME. 3.1. IN MY OPINION, THIS REVISED COMPUTATION AND STATEMENT OF ACCOUNTS NEED VERIFICATION. IT APPEARS THAT THE ASSESSEE COMMITTED AN ERROR IN DISCLOSING INTEREST INCOME UNDER THE HEAD BUSINESS INCOME. UNDER THESE CIRCUMSTANCES, I SET ASIDE THIS ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR FRESH ADJUDICATION, IN ACCORDANCE WITH LAW. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. KOLKATA, THE 12 TH DAY OF DECEMBER, 2018. SD/- [ J. SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 12.12.2018 {SC SPS} 3 I.T.A. NO. 1470/KOL/2018 ASSESSMENT YEAR: 2013-14 SAHANA MUKHERJEE COPY OF THE ORDER FORWARDED TO: 1. SAHANA MUKHERJEE 4/2/2, DINO MASTER LANE HOWRAH 711 103 2. INCOME TAX OFFICER, WARD-47(4), KOLKATA 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES