Shri Rajesh Kumar Agarwal, Kolkata V. ITO, Ward - 48(4), Kolkata, Kolkata

ITA 1514/KOL/2011

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 3176 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 7 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-06-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 08-11-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Peak credit; Source of fund; Deemed to accrue or arise in india
• Section: 131; 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOL KATA [BEFORE SHRI PRAMOD KUMAR, A.M. & SHRI MAHAVIR SIN GH, J.M. ] I.T.A. NO.1514/KOL/2011 : ASSESSMENT YEAR : 2007-08 SRI RAJESH KUMAR AGARWAL, KOL. -V S- I.T.O., WARD-48(4), KOL. (PAN:ACVPA 8453A) ( APPELLANT ) ( RESPONDENT ) I.T.A. NO.1610/KOL/2011 : ASSESSMENT YEAR : 2007-08 I.T.O., WARD-48(4), KOL. -VS- SRI RAJESH KUMAR AGARWAL, KOL. ( APPELLANT ) ( RESPONDENT ) DATE OF CONCLUDING THE HEARING : 25.06.2013 DATE OF PRONOUNCING THE ORDER : 25.06.2013 APPEARANCES : FOR THE ASSESSEE : NONE : FOR THE DEPARTMENT : SHRI DILIP KR. RAKSHI T, JCIT, SR.DR O R D E R PER SHRI PRAMOD KUMAR 1. THESE CROSS APPEALS ARE DIRECTED AGAINST LEARNED CIT(A)S ORDER DATED 30 TH AUGUST, 2011, IN THE MATTER OF ASSESSMENT U/S 143(3 ) OF THE INCOME TAX ACT 1961, FOR THE ASSESSMENT YEAR 2007-08. AS BOTH OF THESE C ROSS APPEALS CALL INTO QUESTION CORRECTNESS OF THE SAME CIT(A)S ORDER AND INVOLVE INTERCONNECTED ISSUE, BOTH OF THESE APPEALS ARE BEING DISPOSED OF BY WAY OF THIS CONSOLIDATED ORDER. 2. GRIEVANCES RAISED BY THE PARTIES ARE AS FOLLOWS :- GRIEVANCES OF THE ASSESSEE : 1.FOR THAT THE ORDER PASSED BY THE LD. COMMISSIONER (A) IS ERRONEOUS IN THE FACT AND CIRCUMSTANCES OF THE CASE OF THE APPEL LANT. 2. FOR THAT THE LD. COMMISSIONER HAS ERRED IN NOT CONSIDERING THE MINIMUM CASH ALWAYS AVAILABLE AT RS.1457000/- IN HAND OF TH E APPELLANT DURING THE YEAR FOR THE PURPOSE OF CHEQUES TO THAT EXTENT WHEN HE HAS ADDED A SUM OF 2 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 RS.2750000/- FOR HIGHEST CHEQUE DEPOSIT DURING THE YEAR UNDER CONSIDERATION ON A PARTICULAR DATE. 3. FOR THAT THE LD. COMMISSIONER (A) SHOULD HAVE T AKEN THE HIGHEST PEAK CREDIT WITHIN THE MEANING OF SECTION 68 OF THE ACT AT RS.27,50,000/- MORE PARTICULARLY WHEN THE FUNDS TO THE EXTENT OF CASH P EAK CREDIT IN CASH RS.14,57,000/- IN THE MONTH OF MAY, 2006 WAS AVAILA BLE WITH THE APPELLANT TO INDUCT THE SAME IN THE ACCOUNTS BEING MEANS OF A CCOUNT PAYEE CHEQUES OR BANK DRAFTS OR PAY ORDER AS THE CASE MAY BE. 4. FOR THAT THE CASH DEPOSIT IN BANK ACCOUNT DURIN G THE YEAR UNDER CONSIDERATION AT RS.13727000/- INCLUDES THE ABOVE P EAK CASH CREDIT OF RS.14,57,000/- AND NONE OF THOSE DEPOSITS YIELDED D EEMED INCOME TO YOUR APPELLANT AT RS.137270/- IN THE FACT AND CIRCUMSTAN CES OF THE CASE OF THE APPELLANT AND THE LD. CIT(A) HAS ERRED IN DETERMINI NG THE DEEMED INCOME OUT OF SUCH DEPOSITS DURING THE YEAR UNDER CONSIDER ATION. 5. FOR THAT THE APPELLANT CRAVE LEAVE TO ADD OR AD DUCE ANY ADDITIONAL GROUND OR GROUNDS AT THE STAGE OF HEARING OF THIS A PPEAL. GRIEVANCES OF THE REVENUE : THE LD. C.I.T.(A)-XXX/KOL. HAS ERRED IN ACCEPTING PEAK CREDIT THEORY IN THE INSTAND CASE AND RELIEVED THE ASSESSEE FOR THE TAX AMOUNT OF RS.27,39,953/-. BECAUSE ON EXAMINATION OF THE UNDIS CLOSED BANK A/C NO.13551000052797 AT CENTURIAN BANK OF PUNJAB LTD., KOLKATA OF ASSESSEE, REVEALS THAT THE MOST OF THE CASH DEPOSITS AND CHEQ UE DEPOSITS WERE FOLLOWED TO ISSUE OF CHEQUES AND ROTATION OF FUND IS NOT EST ABLISHED ANY WAY. IN SUCH OCCASION, IT APPEARS THAT THERE IS NO DIRECT NEXUS BETWEEN THE CONCLUSION OF FACT TAKEN BY THE LD. C.I.T.(A) AND PRIMARY FACT UP ON WHICH CONCLUSION IS BASED. IN VIEW OF THE ABOVE PEAK CREDIT THEORY IS N OT ACCEPTABLE HERE. 2. THE RELEVANT MATERIAL FACTS ARE LIKE THIS. DURIN G THE COURSE OF ASSESSMENT PROCEEDINGS, IT WAS NOTED THAT WHILE, AS PER AIR IN FORMATION, THE ASSESSEE HAD DEPOSITED RS.1,37,27,000/- IN CASH IN HIS BANK ACCO UNT WITH CENTURIAN BANK OF PUNJAB LTD., THE ASSESSEE DID NOT EVEN MENTION ABOU T THIS ACCOUNT IN HIS INCOME TAX DOCUMENT. THE ASSESSEE, HOWEVER, ACCEPTED THE EXIST ENCE OF BANK ACCOUNT AND STATED THAT IT WAS CLOSED IN THE RELEVANT PREVIOUS YEAR ITSELF. IT WAS IN THIS BACKDROP 3 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 THAT AN ADDITION OF RS.1,37,27,000/- WAS MADE TO TH E INCOME RETURNED BY THE ASSESSEE. WHILE DOING SO, THE ASSESSING OFFICER OBS ERVED AS FOLLOWS:- REGARDING SOURCE OF DEPOSIT HE ADVANCED THAT ASSESS EE RECEIVED COMMISSION FROM TWO PARTIES WHICH ARE DULY REFLECTE D IN THE RETURN OF INCOME. TO VERIFY THE CASE CENTURION BANK OF PUNJAB LIMITED WAS ISSUED A LETTER TO CONFIRM THE CASH DEPOSIT FOR THE SAID AMO UNT AND ALSO TO SEND BANK STATEMENT FOR THE FINANCIAL YEAR 2006-07 BUT NO REP LY WAS RECEIVED FROM BANK TILL 31/1212009. THE LETTER SEEKING INFORMATIO N U/S 133(8) WAS ALSO ISSUED TO PARTIES FROM WHOM COMMISSION WAS RECEIVED . THE REPLIES FROM THE SAID PARTIES HAVE BEEN RECEIVED AND PLACED ON RECOR D. ON VERIFICATION THE COMMISSION AND BROKERAGE ARE BOUND TO BE INCONFORMI TY. AS THE PROPER VERIFICATION WAS NOT FEASIBLE IN ABSE NCE OF BANK STATEMENT A SUMMONS U/S 131 WAS ISSUED TO THE ASSESSEE REQUESTI NG TO APPEAR ON 14/12/09 ALONG WITH BANK PASS BOOK SHOWING ENTRIES FOR THE FINANCIAL YEAR 2006-07 MAINTAINED WITH CENTURION BANK OF PUNJAB LI MITED, KOLKATA, TOBACCO HOUSE, EVIDENCE OF COMMISSION RECEIVED DURI NG THE PERIOD, ORIGINAL CONSIGNMENT AGREEMENT. THE ASSESSEE REQUES TED FOR AN ADJOURNMENT AS HE WAS SERIOUSLY ILL. LATER ON THE A SSESSEE APPEARED ALONG WITH A/R ON 21/12/2009. HOWEVER HE FAIL.D TO PRODUC E THE DOCUMENTS AS REQUISITIONED IN THE OVERLEAF OF SUMMONS U/S 131 A DEPOSITION ON OATH OF THE ASSESSEE WAS RECORDED U /S 131 OF THE INCOME TAX ACT ON 21/1212009. VIDE QUESTION NO.2 OF DEPOSI TION THE ASSESSEE WAS ASKED TO EXPLAIN THE SOURCE OF FUND FOR CASH DEPOSI T MADE IN THE CENTURION BANK OF PUNJAB LIMITED AMOUNTING TO RS.137270001- W ITH THE HELP OF DOCUMENTARY EVIDENCE. THE ASSESSES REPLIED THAT N T HE F.YR.2006-07 HE WORKED FOR M/S INDIA STEEL AND METAL CRAFTS WHICH P AID BROKERAGE TO TM HE FURTHER STATED THAT THE SAID CONCERN ASKED HIM TO O PEN A BANK ACCOUNT WITH CENTURION BANK OF PUNJAB LIMITED .ON INTRODUCTION O F SOME CUSTOMERS BY THE ASSESSEE FOR THE SAID FIRM CASH MONEY WAS RECEI VED FROM MIS INDIA STEEL AND METAL CRAFTS WHICH WAS DEPOSITED ON VARIO US INTERVAL IN THE ALLEGED BANK AND THEREAFTER CHEQUES WERE ISSUED TO PARTIES OF M/S INDIA STEEL AND METAL CRAFTS ON VARIOUS DATES VALUING TO RS.5 TO 6 LACS OR MORE. HOWEVER THE CHEQUE FOR COMMISSION WAS DEPOSITED IN THE SEPARATE BANK NAMED ABN AMRO, BRABOURN ROAD BRANCH. FURTHER MORE VIDE QUESTION NO.7 OF THE DEPOSITION T HE ASSESSEE WAS ASKED AS TO WHY THE BANK ACCOUNT MAINTAINED WITH CENTURION B ANK OF PUNJAB LIMITED WAS NOT DISCLOSED IN THE RETURN OF INCOME FOR ASSES SMENT YEAR 2007-08. IN REPLY THE ASSESSEE ADVANCED THE BANK ACCOUNT NO.135 51000052797 WAS NOT 4 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 DISCLOSED IN THE BALANCE SHEET AS IT WAS A JAMA KH ARCHI ACCOUNT. IN THE PROCESS A QUESTION WAS ALSO RAISED TO FURNISH THE N AMES OF CUSTOMERS WHOM CHEQUES WERE ISSUED BY ASSESSEE AFTER RECEIVING CAS H MONEY FROM M/S INDIAN STEEL & METAL CRAFT. HOWEVER HE FAILED TO EN UMERATE THE NAMES OF THOSE PARTIES STATING HE COULD NOT REMEMBER THE NAM ES. HE ADDED THE CHEQUES WERE ISSUED ON THE INSTRUCTION OF M/S INDIA N STEEL & METAL CRAFT. ON SUMMARIZING THE STATEMENT COVERED U/S 131 IT IS CRYSTAL CLEAR THE ASSESSEE IS STATED TO HAVE RECEIVED CASH MONEY FROM M/S INDIAN STEEL & METAL CRAFT BUT FAILED TO PROVE THAT THE MONEY HAS BEEN RECEIVED FROM THE SAID CONCERN. MOREOVER HE HAS FAILED TO NAME THE PARTIES WHOM CHEQUES HAVE BEEN I SSUED DURING THE YEAR. IT IS ALSO ASTONISHING AS TO WHY THE CHEQUES SHOULD BE IS SUED TO THOSE PARTIES IF HE IS SALES BROKER. THE ASSESSEE APPEARS TO BE CONTRADICT ING HIS OWN STATEMENT BY GOING ROUND ABOUT MANNER. MOREOVER HE IS NOT DISCLOSING A LL THE TRUTH. AS THE ASSESSEE HAS FAILED TO SUBSTANTIATE THE RECEIPT OF CASH WHIC H HAS BEEN DEPOSITED IN THE UNDISCLOSED BANK ACCOUNT THE AMOUNT O! RS.13727000/ - IS TREATED HIS OWN INCOME FROM SOME UNDISCLOSED SOURCES WHICH CONCEALED TO TH E DEPARTMENT AND FOR THIS VERY REASON IT IS ADDED TO THE TOTAL INCOME OF THE ASSESSEE WHICH ALSO ATTRACTS PENALTY PROVISION U/S 271(1)C). RS.1,37,27000/- 4. AGGRIEVED, ASSESSEE CARRIED THE MATTER IN APPEAL BEFORE THE CIT(A). LEARNED CIT(A) RESTRICTED THE ADDITION TO RS.43,44,270/-. W HILE DOING SO, LEARNED CIT(A) REASONED AS FOLLOWS:- 4. THE ISSUE HAS BEEN CONSIDERED AND IT IS SEEN THAT THE ENTRIES IN THE BANK ACCOUNT ARE OF CASH DEPOSIT AND ISSUE OF CHEQUES; D EPOSIT THROUGH CHEQUES AND WITHDRAWAL OF CASH THROUGH SELF CHEQUES. AN ILL USTRATION IN THIS REGARD IS AS UNDER: 29.5.2006 - CASH DEPOSIT RS.1,00,000/-, CHEQUE NO. 30953 ISSUED FOR RS 1,00,000/- 30.5.2006 - CHEQUE DEPOSITED RS. 4,00,000/- WITHDRAWAL BY SELF CHEQUE 35854 RS. 4,00,000/- 27.6.2006 - CASH DEPOSIT RS.1,00,000/- CHEQUE NO.30958 ISSUED FOR RS.1,00,000/- 4.7.2006 - CHEQUES DEPOSIT RS.3,75,000/- SELF WITHDRAW RS.3,75,000/-, ETC. 6-7-2006 - CASH DEPOSIT RS.40,000/- - RS.1,30,000/- + RS.3,50,000/- 5 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 CHEQUES ISSUED NO.35871 OF RS.1,70,000/- & NO.35872 OF RS.3,50,000/- ETC THE ABOVE ILLUSTRATES THAT THE FUNDS ARE BEING ROTA TED BOTH BY DEPOSIT BY CHEQUE AND WITHDRAWAL BY CASH AS WELL AS DEPOSIT BY CASH AND ISSUE OF CHEQUE AND THERE IS LITTLE GAP BETWEEN THE CASH WIT HDRAWALS, SUBSEQUENT CASH DEPOSITS AND ISSUE OF CHEQUES. THEREFORE THE P LEA OF THE APPELLANT FOR TAKING PEAK CREDIT IN RESPECT OF THE DEEMED INCOME FROM THIS TRANSACTION HAS SOME BASIS. THUS THE SUBMISSIONS OF THE APPELLANT A RE BEING CONSIDERED. AS MENTIONED ABOVE ITS CONTENTION REGARDING PEAK CREDI T HAS MERIT CONSIDERING THAT THE WITHDRAWAL AND DEPOSITS IN THE BANK ACCOUN T ARE BEING MADE FREQUENTLY AND IN SHORT INTERVAL. ON THE OTHER HAND AFTER A PEAK DEPOSIT OF CASH OF 14,65,000/- AS ON 23.5.2006, THE DEPOSITS A RE EITHER BY WAY CHEQUES OR AS CONTENDED BY THE APPELLANT, CASH IS BEING WIT HDRAWN THROUGH SELF CHEQUE ON ONE DAY AND AGAIN CASH IS BEING DEPOSITED WITHIN A COUPLE OF DAYS AND CHEQUES ARE BEING ISSUED. IN THIS SITUATIO N BENEFIT OF TELESCOPING IN RESPECT OF CASH BEING DEPOSITED, AFTER THE ABOVE DA TE AGAINST WHICH CHEQUES ARE BEING ISSUED AS CAN BE CONSIDERED.THAT THE SET OFF OF INTANGIBLE ADDITIONS CAN BE CLAIMED IN THE SAME ACCOUNTING YEA R HAS BEEN HELD IN THE CASE OF CIT VS K.V.MUNNISWAMY MUDALIAR (1978) 130 I TR 302(MAD). THE APPELLANT VIDE ITS SUBMISSION DATED 11.10.2010 HAS CLAIMED DEPOSITS AND ISSUE OF CHEQUES AS HIS BUSINESS TRANSACTION HITHER TO NOT DISCLOSED BEFORE THE DPARTMENT. THIS VIEW HAS ALSO BEEN CONSIDERED IN T HE CASE OF SANJAY KUMAR JAIN VS. CIT(2001) 118 TAXMAN 821 CAL. WHEREI N TH HONBLE HIGH COURT SET ASIDE THE CASE TO THE TRIBUNAL FOR CONSID ERING THE CLAIM OF TELESCOPING ON THE FACTS. FROM THE WORKING SUBMITTE D BY THE APPELLANT $ THE HIGHEST CASH BALANCE(DEPOSIT) IS AS ON 23-03-2006 O F A TOTAL OF RS 14,57,000/- WHICH WOULD BE THE PEAK (CASH) CREDIT O N THIS DATE. THE APPELLANT HAS NOW TAKEN THE BENEFIT OF TELESCOPING IN RESPECT OF THE CASH BEING DEPOSITED FOR ISSUE OF CHEQUES. IT HAS BEEN C ONFIRMED BY THE A.Q THAT THE PEAK CREDIT OF 14,57,000/- WAS NOT THERE ON ANY INSTANCE SUBSEQUENTLY IN THE RELEVANT PERIOD, THEREFORE THIS PEAK BALANCE CA N BE CONSIDERED. HOWEVER IN RESPECT OF PEAK OF CHEQUE DEPOSIT IT IS SEEN THAT THE SAME IS MAXIMUM AMOUNT OF 27,50,000/- ON 23.03.2007. THE AP PELLANT HAS ALSO CLAIMED THAT THERE ARE PAYMENT OF RS.13,00,000/- AN D RS.12,50,000/- ON THE SAME DATE AND IT HAS BEEN SUBMITTED THAT CONSIDERIN G THE SAME, TIE PEAK CREDIT OFFERED BY THE APPELLANT AT RS.17,50,000/- I N APPEAL IS BEING WITHDRAWN. MOREOVER THE APPELLANTS CONTENTION CANN OT BE ACCEPTED AS HE HAS ALREADY AVAILED THE BENEFIT OF TELESCOPING OF T HE CASH PEAK CREDIT AGAINST CASH BEING DEPOSITED FOR ISSUE OF CHEQUES. THEREFOR E, THE APPELLANT CANNOT TAKE DOUBLE BENEFIT OF TELESCOPING TO EXPLAIN THE A BOVE AS THERE ARE ISSUE OF CHEQUES AFTER CHEQUE DEPOSIT IS BEING MADE IN THE B ANK ACCOUNT. IT IS 6 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 HOWEVER SEEN THAT IN RESPECT OF PEAK CREDIT OF CHEQ UE DEPOSIT THE PEAK CREDIT HAS TO BE SEEN ON A PARTICULAR DAY. IN RESPECT OF E NTRIES IN THE BANK ACCOUNT CREDITED ON A PARTICULAR DAY, THE HIGHEST IS FOR AN AMOUNT OF RS. 10,00,000/- + RS 17,50,000/- I.E RS.27,50,000/- ON WHICH IS TAK EN AS PEAK CREDIT IN RESPECT OF CHEUE DEPOSITED. IN ADDITION IT IS REASO NABLE TO CONSIDER THAT 1% OF THE TOTAL CASH CREDITED AS DEEMED INCOME EARNED BY THE APPELLANT C THE TRANSACTIONS IN THE BANK ACCOUNT WHICH HAS NOT BEEN DISCLOSED BEFORE THE DEPARTMENT I.E 1% OF RS 1,37,27,000/-WHICH IS RS.1, 37,270/-. HOWEVER, REGARDING THE PEAK CREDIT OF CASH OF RS. 14,57,000/ - WHICH BEEN WORKED OUT THE BENEFIT OF CASH WITHDRAWAL OF RS. 8000/- ON 5-0 4-2006 IS ALLOWED BECAUSE THE WITHDRAWAL IS BEFORE THE OTHER CASH DEP OSITS MADE SUBSEQUENTLY AND WOULD BE AVAILABLE FOR THESE CASH DEPOSIT. ACCO RDINGLY THE PEAK CASH DEPOSIT IS TAKEN AT RS. 14,57,000/-. IN RESPECT OF PEAK CREDIT AGAINST CHEQUE DEPOSITS, AS DISCUSSED ABOVE THE SAME IS TO BE TAKE N AT RS. 27,50,000/-. ACCORDINGLY THE ADDITION IS SUSTAINED TO THE EXTENT OF RS 14,57,000/- + RS 27,50,000/- + RS 1,37,270/- I.E. RS.43,44,270/- ( RELIEF RS.93,82,730/- ). 5. NONE OF THE PARTIES IS SATISFIED. WHILE THE ASSE SSEE IS MAINLY AGGRIEVED THAT THE CIT(A) CONFIRMED THE ADDITION FOR PEAK CASH DEP OSIT OF RS.14,57,000/-, THE ASSESSING OFFICERS STAND IS THAT PEAK CREDIT THEOR Y IS NOT AT ALL APPLICABLE ON THESE FACTS. 6. NONE APPEARED FOR THE ASSESSEE BUT WE HAVE HEARD THE LEARNED DEPARTMENTAL REPRESENTATIVE. WE HAVE ALSO PERUSED THE MATERIAL O N RECORD AND DULY CONSIDERED FACTS OF THE CASE IN THE LIGHT OF THE APPLICABLE LE GAL POSITION. 7. WE HAVE NOTED THAT THERE IS A CATEGORICAL FINDIN G BY THE CIT(A) TO THE EFFECT THAT THE AMOUNT OF RS.14,57,000/- IS ALREADY TAKEN WITH ACCOUNT, ON 23.3.2006, IN RESPECT OF CASH DEPOSITED FOR ISSUE OF CHEQUES. AS SUCH, THE CIT(A) WAS QUITE JUSTIFIED IN MAKING ADDITION OF RS.14,57,000/- AS P EAK CASH DEPOSIT. THE GRIEVANCES RAISED BY THE ASSESSEE ARE THUS DEVOID O F LEGALLY SUSTAINABLE MERITS. IN ANY EVENT, THERE IS NOTHING ON RECORD TO JUSTIFY OR WARRANT ANY INTERFERENCE IN THE CONCLUSION ARRIVED AT BY THE CIT(A) ON THIS ISSUE. 8. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISS ED. 7 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 9. COMING TO THE APPEAL OF THE ASSESSING OFFICER, W E FIND THAT ADMITTEDLY NONE OF THE MATERIAL BEFORE THE CIT(A) WAS FURNISHED BY THE ASSESSEE AGAINST RELIEF GIVEN SO FAR AS PEAK CREDIT OF CHEQUES IS CONCERNED AT THE ASSESSMENT STAGE. IT IS INDEED OPEN TO THE ASSESSING OFFICER TO OBJECT TO A DMISSION OF SUCH EVIDENCE AT THIS STAGE. THE CIT(A) SHOULD HAVE REMITTED THE MAT TER TO THE FILE OF THE ASSESSING OFFICER FOR PROPER EXAMINATION OF ALL SUCH MATERIAL ON THE BASIS OF WHICH RELIEF IS GIVEN AND WHICH IS NOT, WITHOUT GOOD REASONS, PRODU CED BEFORE THE ASSESSING OFFICER. IN THE INTEREST OF THE JUSTICE, THEREFORE, WE DEEM IT FIT AND PROPER TO REMIT THE MATTER TO THE FILE OF THE ASSESSING OFFICER FOR FRESH EXAMINATION IN THE LIGHT OF THE MATERIAL SO PRODUCED. THE ASSESSEE IS ALSO AT L IBERTY TO PROVIDE SUCH OTHER MATERIAL, AND GIVE SUCH EXPLANATION AS HE MAY DEEM FIT. IT IS, HOWEVER, LIMITED TO THE ISSUE IN REVENUES APPEAL. 10. WITH THESE DIRECTIONS, THE APPEAL OF THE REVENU E IS ALLOWED FOR STATISTICAL PURPOSES FOR THE LIMITED PURPOSE. 11 IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AND APPEAL OF THE REVENUE IS ALLOWED FOR STATISTICAL PURPOSES FOR LIM ITED PURPOSE, AS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON THE DAY OF HE ARING ITSELF I.E. 25.06.2013. SD/- SD/- (MAHAVIR SINGH) (PRAMOD KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 25 JUNE, 2013 8 I.T.A. NOS.1514 & 1610/KOL/11 SRI RAJESH KUMAR AGARWAL A. Y.: 2007-08 COPY OF THE ORDER FORWARDED TO: 1. ASSESSEE SRI RAJESH KUMAR AGARWAL, S.C.BAID, ADV OCATE, 4, RAJA WOOD MUNT STREET, KOLKATA 700 001 2 DEPARTMENT I.T.O., WARD-48(4), KOLKATA 3. THE CIT(A), 4. CIT, 5. DR, KOLKATA BENCHES, KOLKATA TRUE COPY, BY ORDER, ASSTT. REGISTRAR , ITAT, KOLKATA TALUKDAR(SR.P.S.)