Iftakar Ahmed, Kolkata V. ITO,Wd No.53(3), Kolkata, Kolkata

ITA 156/KOL/2014

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6076 (ITAT-KOLKATA)
• Duration Of Justice: 4 year(s) 5 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-07-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2007-2008
• Appeal Filed On: 28-01-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SAURAV KUMAR
• Assessee Lawyers: ANIKESH BANERJEE
• Keywords: Unexplained investment; Additional evidence
• Section: 68; 69; 144

Judgement Text

1 ITA NO.156/KOL/2014 AFTAKAR AHMED, AY- 2007-08 , D , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: KOL KATA ( ) BEFORE . . , /AND . , ) [BEFORE SHRI A. T. VARKEY, JM & SHRI M. BALAGANESH , AM] I.T.A. NO. 156/KOL/2014 ASSESSMENT YEAR: 2007-08 SHRI IFTAKAR AHMED (PAN:ALFPA8694L) VS. INCOME-TAX OFFICER, WD-53(3), KOLKATA APPELLANT RESPONDENT DATE OF HEARING 19.06.2018 DATE OF PRONOUNCEMENT 11.07.2018 FOR THE APPELLANT SHRI ANIKESH BANERJEE, ADVOCATE FOR THE RESPONDENT SHRI SAURAV KUMAR, ADDL. CIT ORDER PER SHRI A.T.VARKEY, JM THE APPEAL FILED BY THE ASSESSEE IS AGAINST THE ORD ER OF LD. CIT(A)-XXXIII, KOLKATA DATED 18.09.2013 FOR AY 2007-08. 2. THE SOLE ISSUE INVOLVED IN THIS APPEAL OF ASSESS EE IS AGAINST THE ACTION OF THE LD. CIT(A) IN CONFIRMING THE ADDITION OF CASH DEPOSIT I N BANK AMOUNTING TO RS.12,95,000/- AND ALSO ENHANCEMENT OF ADDITION OF RS.5,95,000/- AGAIN ST THE CASH DEPOSITED IN THE STATE BANK OF INDIA U/S. 68 OF THE ACT. 3. BRIEFLY STATED FACTS OF THE CASE ARE THAT THE AO BY HIS BEST JUDGMENT ASSESSMENT PASSED U/S. 144 OF THE ACT MADE AN ADDITION OF RS.1 2,95,900/- FOR CASH DEPOSIT IN STANDARD CHARTERED BANK A/C NO. 32410271121 U/S. 69 OF THE A CT SINCE THE ASSESSEE FAILED TO DISCHARGE HIS ONUS IN RESPECT OF A SHOW CAUSE NOTIC E DATED 29.10.2009 ASKING HIM AS TO WHY THE SAID AMOUNT OF RS.12,95,000/- SHALL NOT BE ADDE D TO HIS TOTAL INCOME AS UNEXPLAINED INVESTMENT U/S. 69 OF THE ACT. AGGRIEVED, ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT(A), WHO CONFIRMED THE ACTION OF THE AO AND ALSO ENHANCED THE ADDITIONAL AMOUNT OF RS.5,95,000/- AGAINST THE CASH DEPOSITED IN THE STA TE BANK OF INDIA, METIABRUZ BRANCH, A/C. NO. 01150065184 U/S. 68OF THE ACT. AGGRIEVED, ASSE SSEE IS BEFORE US. 2 ITA NO.156/KOL/2014 AFTAKAR AHMED, AY- 2007-08 4. WE HAVE HEARD RIVAL SUBMISSIONS AND GONE THROUGH THE FACTS AND CIRCUMSTANCES OF THE CASE. AT THE OUTSET ITSELF, THE LD. AR OF THE ASSE SSEE BROUGHT TO OUR NOTICE THAT THE ASSESSEE FOR REASONS BEYOND HIS CONTROL COULD NOT PRODUCE TH E CASH BOOK BEFORE THE LOWER AUTHORITIES WHICH IS PLACED BEFORE US AT PAGE NOS.15 TO 17 (PAP ER BOOK) WHICH, ACCORDING TO LD. AR, WILL CLEARLY SHOW THE DAY-WISE CASH FLOW STATEMENT AND THUS THE ASSESSEE WILL BE ABLE TO EXPLAIN THE SOURCE OF THE BANK DEPOSIT. ACCORDING T O THE LD. AR SINCE THIS IS A FRESH EVIDENCE TO EXPLAIN THE SOURCE OF CASH DEPOSITS IN THE BANK ACCOUNTS AND SINCE THE ASSESSEE COULD NOT PRODUCE THE EVIDENCES BEFORE BOTH THE AUTHORITIES B ELOW, FOR FAIRNESS THE ADDITIONAL EVIDENCES SUBMITTED BEFORE THIS TRIBUNAL FOR THE FI RST TIME MAY BE ADMITTED AND THE DISPUTED ISSUE MAY BE REMANDED BACK TO THE FILE OF THE ASSES SING OFFICER FOR FRESH ASSESSMENT. WE NOTE THAT DAY-WISE CASH FLOW STATEMENT OF ASSESSEE IS PLACED AT PAGE NOS.15 TO 17 OF PAPER BOOK, WHICH IS PRESENTED BEFORE US FOR THE FIRST TI ME AND THE SAID DOCUMENT HAS NOT BEEN BEFORE THE LD. CIT(A) OR THE ASSESSING OFFICER. WE ALSO NOTE THAT THE BANK STATEMENT OF STANDARD CHARTERED AND SBI WHICH ARE PLACED AT PAGE NO.12 TO 14 HAS ALSO NOT BEEN PRODUCED BEFORE THE ASSESSING OFFICER AS WELL AS LD . CIT(A). SINCE, THE ASSESSEE COULD NOT PRODUCE DOCUMENTS OR EXPLANATION BEFORE THE ASSESSI NG OFFICER, THE ASSESSING OFFICER MADE THE ADDITION U/S 69 INVOKING BEST JUDGMENT ASSESSMENT UNDER SECTION 144 OF THE ACT. BEFORE THE LD. CIT(A), THE ASSESSEE COULD NOT SUBMI T THE AFORESAID DOCUMENTS WHICH ACCORDING TO THE LD. AR IS VERY MUCH NECESSARY FOR FAIR DETERMINATION OF THE SOURCE OF AMOUNT DEPOSITED IN THE BANK ACCOUNT OF THE ASSESSE E. IN SUCH A SCENARIO, FOR JUSTICE AND FAIR PLAY, WE ARE INCLINED TO ADMIT THE ADDITIONAL EVIDE NCES ADDUCED BEFORE US AND WE SET ASIDE THE ORDER OF THE LD. CIT(A) AND REMAND THE MATTER B ACK TO THE FILE OF ASSESSING OFFICER WITH A DIRECTION TO DE NOVO ASSESS THE INCOME OF THE ASS ESSEE AFTER TAKING INTO CONSIDERATION THE CASH BOOK/CASH FLOW STATEMENT FILED BEFORE US IN RE SPECT OF THE CASH DEPOSITS MADE BY THE ASSESSEE IN HIS BANK ACCOUNTS. 5. IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER IS PRONOUNCED IN THE OPEN COURT ON 11.07.2018 SD/- SD/- (M. BALAGANESH) (ABY. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 11 TH JULY, 2018 JD.(SR.P.S.) 3 ITA NO.156/KOL/2014 AFTAKAR AHMED, AY- 2007-08 COPY OF THE ORDER FORWARDED TO: 1. APPELLANT SHRI IFTAKAR AHMED, 32B, TALTALA LA NE, SATTAR PALACE, 2 ND FLOOR, P.S. TALTALA, KOLKATA-700 016. 2 RESPONDENT ITO, WARD-53(3), KOLKATA. 3. THE CIT(A) -XXXIII, KOLKATA. (SENT THROUGH E-MAIL) 4. 5. CIT KOLKATA DR, ITAT, KOLKATA. (SENT THROUGH E-MAIL) / TRUE COPY, BY ORDER, SR. PVT. SECRETARY