S.Irudhayaraj, CHENNAI V. DCIT, CHENNAI

ITA 1545/CHNY/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 8543 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-09-2016
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 22-08-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 06-07-2015
• Court: TRIBUNAL
• Department Lawyers: SHIVA SRINIVAS
• Assessee Lawyers: A S SRIRAMAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : CHENNAI , . ! , ' !# $ [ BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G. PAVAN KUMAR, JUDICIAL MEMBER ] ./ I.T.A.NO.1545/MDS/2015 / ASSESSMENT YEAR : 2009-10 SHRI S. IRUDHAYARAJ PROP. M/S PRINCE TRAVELS NO.67, 20 TH CROSS STREET PLOT NO.39, MAHALAKSHMI NAGAR EXTN.III GUDUVANCHERI 603 202 VS. THE DY. COMMISSIONER OF INCOME TAX BUSINESS CIRCLE I CHENNAI [PAN ATVPS 1146 H] ( %& / APPELLANT) ( '(%& /RESPONDENT) / APPELLANT BY : SHRI A.S. SRIRAMAN, ADVOCATE /RESPONDENT BY : SHRI SHIVA SRINIVAS, JCIT / DATE OF HEARING : 23 - 08 - 2016 / DATE OF PRONOUNCEMENT : 09 - 0 9 - 2016 ) / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-10, CHENN AI, DATED 27.2.2015 FOR ASSESSMENT YEAR 2009-10. ITA NO. 1545/15 :- 2 -: 2. THE FIRST GROUND OF APPEAL IS WITH REGARD TO CONFIR MING THE ADDITION OF ` 56,02,263/- AS UNDISCLOSED INCOME U/S 69A OF THE ACT BASED ON FORM 26AS. 3. FACTS OF THE CASE ARE THAT THERE WAS A DIFFERENCE O F `56,02,263/- BETWEEN THE FIGURES SHOWN IN FORM 26AS AND BOOKS O F ACCOUNT OF THE ASSESSEE, THEREFORE, THE ASSESSING OFFICER HAS MADE ADDITION U/S 69A OF THE ACT. THE ASSESSEE WAS NO T ABLE TO RECONCILE THE DIFFERENCE EVEN AFTER GIVING ADEQUATE OPPORTUNI TY OF HEARING TO THE ASSESSEE BY THE LOWER AUTHORITIES. AGAINST THIS TH E ASSESSEE IS IN APPEAL BEFORE US. 4. BEFORE US, LD. AR PLEADED FOR AN OPPORTUNITY TO RE CONCILE THE FIGURE FOR WHICH THE LD. DR HAS NOT RAISED ANY SER IOUS OBJECTION. ACCORDINGLY, IN THE INTEREST OF JUSTICE, WE REMIT T HIS ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR RECONSIDERATION WITH A DI RECTION TO THE ASSESSEE TO RECONCILE THE AMOUNT SHOWN IN FORM 26AS AND BOOKS OF ACCOUNT OF THE ASSESSEE. THIS GROUND IS ALLOWED F OR STATISTICAL PURPOSES. 5. THE NEXT ISSUE IS WITH REGARD TO SUSTAINING ADDITIO N OF `12,74,653/- RELATING TO THE CASH DEPOSITED IN THE CITI BANK AN D ABN AMRO BANK. 6. THE LD. AR PLEADED FOR AN OPPORTUNITY TO EXPLAIN TH E DEPOSITS IN THE BANK ACCOUNTS. CONSIDERING THE REQUEST OF T HE LD. AR, WE REMIT ITA NO. 1545/15 :- 3 -: THE ISSUE BACK TO THE FILE OF THE ASSESSING OFFICER FOR PROVIDING AN OPPORTUNITY TO THE ASSESSEE TO EXPLAIN THE SOURCE OF DEPOSITS. 7. THE LAST ISSUE IS WITH REGARD TO SUSTENANCE OF ADDI TION OF `1,53,373/- BEING PAYMENT MADE TOWARDS CREDIT CARD OF THE ASSE SSEE FOR THE REASON THAT ASSESSEE HAD NOT OFFERED ANY S ATISFACTORY EXPLANATION BEFORE THE LOWER AUTHORITIES. 8. AS DISCUSSED IN EARLIER PARAS, WE REMIT THIS ISSUE ALSO TO THE FILE OF THE ASSESSING OFFICER TO CONSIDER THE SAME AFRESH AFTER GIVING AN OPPORTUNITY TO THE ASSESSEE TO EXPLAIN THE PAYMENT S. 9. WITH THE ABOVE OBSERVATION, THE APPEAL OF THE ASSE SSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 9 TH SEPTEMBER, 2016, AT CHENNAI. SD/- SD/- ( . ! ) (G. PAVAN KUMAR) ' / JUDICIAL MEMBER ( ) (CHANDRA POOJARI) / ACCOUNTANT MEMBER !' / CHENNAI #$ / DATED: 9 TH SEPTEMBER,2016 RD $%&& '(&)( / COPY TO: & 1 . / APPELLANT 4. & * / CIT 2. / RESPONDENT 5. (+,& - / DR 3. & *&./ / CIT(A) 6. ,0&1 / GF