The ITO, Ward-7(3), Surat V. Smt. Jignesha Rajesh Gohil, Surat

ITA 148/AHD/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9528 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 11-01-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 18-01-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DEEPAK SUTARIA SRDR
• Keywords: Unexplained investment; Business income; Tax effect

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI SHAILENDRA K. YADAV, JUDICIAL MEMBER AN D SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER ./ ITA NO. 148/AHD/2012 / ASSESSMENT YEAR: 2006-07 THE INCOME TAX OFFICER, WARD 7 (3), SURAT .. APPELLANT VS SMT. JIGNASHA RAJESH GOHIL, M-27, SOMESHWAR ENCLAVE, SOUTH GUJARAT UNIVERSITY, UDHNA MAGADALLA ROAD, SURAT .. RESPONDENT PAN : AHWPG 7621 G REVENUE BY : SHRI DEEPAK SUTARIA, SR-DR ASSESSEE(S) BY NONE / DATE OF HEARING 08/01/2016 /DATE OF PRONOUNCEMENT 12/02/2016 / O R D E R PER SHAILENDRA K. YADAV, JUDICIAL MEMBER: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-V, SUR AT DATED 15.09.2011 FOR ASSESSMENT YEAR 2006-07, ON THE FOLL OWING GROUNDS:- 1) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE A ND IN LAW, THE CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.8,0 0,000/- MADE BY THE AO BEING ASSESSEES UNEXPLAINED INVESTMENT F OR PURCHASING UNITS OF PRINCIPLE MUTUAL FUND IN ABSENC E OF ANY DOCUMENTARY EVIDENCE.. ITA NO. 148/AHD/2012 ITO VS. SMT. JIGNASHA RAJESH GOHIL AY : 2006-07 2 2) ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE LD. CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.10, 44,970/- MADE BY THE AO CONSIDERING THE PEAK AMOUNT OF RS.10,44,9 70/- FOUND IN THE ASSESSEES CURRENT BANK ACCOUNT STATEMENT AS ASSESSEES BUSINESS INCOME. 3) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE A ND IN LAW, THE CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESS ING OFFICE.R 4) IT IS THEREFORE, PRAYED THAT THE APPELLATE ORDER OF THE LD. CIT(A) MAY BE CANCELLED AND THE ORDER OF THE AO MAY BE UPH ELD. 2. WE HAVE HEARD THE LD. DEPARTMENTAL REPRESENTATIV E AND PERUSED THE MATERIAL ON RECORD. ON PERUSING THE GROUNDS OF APPEAL RAISED BY THE REVENUE, WE FIND THAT REVENUE IS AGGRIEVED BY THE O RDER OF CIT(A) IN DELETING THE ADDITION OF RS.8,00,000/- MADE BY THE ASSESSING OFFICER ON ACCOUNT OF UNEXPLAINED INVESTMENT AND ALSO AGAINST THE DELETION OF ADDITION OF RS.10,44,970/- MADE BY THE ASSESSING OF FICER CONSIDERING THE PEAK AMOUNT OF ASSESSEES CURRENT BANK ACCOUNT STAT EMENT AS ASSESSEES BUSINESS INCOME; THE TAX EFFECT OF WHICH IS BELOW R S.10 LACS. AS PER THE ANNOUNCEMENT OF CENTRAL BOARD OF DIRECT TAXES (CBDT ) DATED 10.12.2015 (CIRCULAR NO.21 OF 2015), NO DEPARTMENT APPEALS ARE TO BE FILED AGAINST RELIEF GIVEN BY LD. CIT(A) BEFORE THE INCOME TAX AP PELLATE TRIBUNAL UNLESS THE TAX EFFECT, EXCLUDING INTEREST EXCEEDS R S.10 LACS AND IT FURTHER STATES THAT THE INSTRUCTIONS WILL APPLY RETROSPECTI VELY TO THE PENDING APPEALS. IN THE PRESENT CASE, SINCE IT IS AN UNDIS PUTED FACT THAT THE TAX EFFECT IS LESS THAN RS.10 LACS, WE ARE OF THE VIEW THAT THE MONETARY LIMIT PRESCRIBED BY THE INSTRUCTIONS OF THE AFORESAID CBD T CIRCULAR WOULD BE APPLICABLE TO THE PRESENT APPEAL OF THE DEPARTMENT AND THEREFORE THE PRESENT APPEAL IS NOT MAINTAINABLE ON ACCOUNT OF LO W TAX EFFECT. IN SUCH ITA NO. 148/AHD/2012 ITO VS. SMT. JIGNASHA RAJESH GOHIL AY : 2006-07 3 CIRCUMSTANCES, WE DISMISS THIS APPEAL OF REVENUE WI THOUT EXPRESSING ANY OPINION ON MERITS OF THE CASE. 3. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED IN LIMINE. ORDER PRONOUNCED IN THE COURT ON 12TH FEBRUARY, 201 6 AT AHMEDABAD. SD/- SD/- ANIL CHATURVEDI SHAILEND RA K. YADAV (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) AHMEDABAD; DATED 12/02/2016 BIJU T., PS !' #'$ / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ! ' ' # / CONCERNED CIT 4. ' ' # ( ) / THE CIT(A) 5. &'( ! , ' ! , / D R, ITAT, AHMEDABAD 6. (- . / GUARD FILE . / BY ORDER, TRUE COPY / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD