SHRI SALIM ZIKAR GHANIWALA, Nagpur V. D.C.I.T. CEN TRAL CIR. AMRAVARI NOW ADDITIONAL CHARGE WITH ACIT, CENT. CIR-2(2),nAGPUR, Nagpur

ITA 159/NAG/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 9650 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 11 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-03-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 27-06-2016
• Assessment Year: 2001-2002
• Appeal Filed On: 09-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R K BARAL SENIOR
• Assessee Lawyers: R P C HANDEKAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI G.D. AGRAWAL, PRESIDENT AND SHRI MAHAVIR SINGH , JUDICIAL MEMBER I.T.A. NO . 156/NAG/2016 ASSESSMENT YEAR : 2001 - 02 SHRI SIDDIQUE ZIKAR GHANIWALA, MAIN ROAD, BANOSA, DARYAPUR, DISTRICT AMRAVATI, PIN CODE 444 803. PAN : ABAPG2571K. VS. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, AMRAVATI, NOW ADDITIONAL CHARGE WITH THE ASSISTANT COMMISSIONER OF CENTRAL CIRCLE - 2, NAGPUR. (APPELLANT) (RESPONDENT) I.T.A. NO. 159/NAG/2016 ASSESSMENT YEAR : 2001 - 02 SHRI SALIM ZIKAR GHANIWALA, MAIN ROAD, BANOSA, DARYAPUR, DISTRICT AMRAVATI, MAHARASHTRA. PAN : A FIPG5806P. VS. JOINT COMMISSIONER OF INCOME TAX, RANGE - 3, NAGPUR. (APPELLANT) (RESPONDENT) I.T.A. NO. 3/NAG/2016 ASSESSMENT YEAR : 2001 - 02 SHRI ANIS ZIKAR GHANIWALA, PROP. M/S ANIS TRADERS, MAIN ROAD, BANOSA, DARYAPUR, DISTRICT AMRAVATI, PIN CODE 444 803. PAN : ADDPG1862J. VS. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, AMRAVATI, NOW ADDITIONAL CHARGE WITH THE ASSISTANT COMMISSIONER OF CENTRAL CIRCLE - 2, NAGPUR. (APPELLANT) (RESPONDENT) APPELLANT S BY : SHRI R.P. CHANDEKAR, ADVOCATE. RESPONDENT BY : SHRI R.K. BARAL, SENIOR DR. DATE OF HEARING : 08 .03.2018 DATE OF PRONOUNCEMENT : 08 .03.2018 2 ITA - 156, 159 & 3/NAG/2016 O R D E R PER BENCH : THESE THREE APPEALS BY DIFFERENT ASSESSEES FOR THE ASSESSMENT YEAR 2001 - 02 ARE DIRECTED AGAINST THE ORDER OF LEARNED CIT(A) - III, NAGPUR DATED 30.11.2015, 05.11.2015 AND 05.10.2015. SINCE THE ISSUE INVOLVED IN ALL THESE APPEALS IS COMMON, THE SAME WERE HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS CONSOLIDATED ORDER. 2. THE ONLY COMMON ISSUE IN THESE THREE APPEALS OF THE ASSESSEE S IS AS REGARDS THE ORDER OF LEARNED CIT(A) IN CONFIRMING THE ACTION OF THE ASSESSIN G OFFICER IN TREATING THE OPENING CAPITAL AMOUNTING TO `50,000/ - IN ITA NO.156/NAG/2016, `46,548/ - IN ITA NO.159/NAG/2016 AND `1,39,921/ - IN ITA NO.3/NAG/2 016 FOR ASSESSMENT YEAR 2001 - 02 A S U N E X P L A I N E D . 3. SINCE THE FACTS AND CIRCUMSTANCES ARE EXACTLY IDENTICAL IN ALL T HESE APPEALS, HENCE, WE WILL TAKE UP THE FACTS FROM ITA NO.156/NAG/2016 AND DECIDE THE ISSUE. 4. WE HAVE HEARD RIVAL CONTENTIONS AND GONE THROUGH THE FACTS AND CIRCUMSTANCES OF THE CASE. BRIEF FACTS ARE THAT THE ASSESSING OFFICER WHILE COMPLETING THE ASS ESSMENT U/S 153C OF THE ACT TREATED THE OPENING CAPITAL AS ON 01.04.2000 DECLARED BY THE ASSESSEE AT `68,000/ - AS UNEXPLAINED. FINALLY, THE ASSESSING OFFICER TREATED THE SUM OF `50,000/ - AS UNEXPLAINED FOR THE REASON THAT THE ASSESSEE COULD NOT PROVE THAT THIS AMOUNT IS RECEIVED FROM HIS FATHER BY WAY OF WILL OR ANY OTHER EVIDENCES. AGGRIEVED, ASSESSEE PREFERRED APPEAL BEFORE LEARNED CIT(A), WHO ALSO CONFIRMED THE ACTION OF THE ASSESSING OFFICER. WE FIND FROM THE FACTS OF THE CASE THAT THE ASSESSEE HAS F ILED CAPITAL ACCOUNT FROM FINANCIAL YEAR 1992 - 93 TO 2000 - 01 EXPLAINING THE OPENING BALANCE. WE ARE OF THE VIEW THAT OPENING BALANCE CANNOT BE ADDED IN THE 3 ITA - 156, 159 & 3/NAG/2016 RELEVANT YEAR. IN ANY CASE, IF THE OPENING CAPITAL IS NOT PROVED, IT HAS TO BE ADDED IN THE EARLIER YEAR, IF AT ALL. IN VIEW OF THIS, WE ARE OF THE VIEW THAT THE ADDITION OF OPENING CAPITAL IN ALL THE THREE CASES WILL NOT SUSTAIN AND HENCE, WE DELETE THE SAME. 5. IN THE RESULT, ALL THE APPEALS OF THE ASSESSEES ARE ALLOWED. DECISION PRONOUNCE D IN THE OPEN COURT ON 08 .03.2018. S D / - S D / - (G.D. AGRAWAL) ( MAHAVIR SINGH ) PRESIDENT JUDICIAL MEMBER DATED : 08 .03.2018 VK. COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. CONCERNED CIT 4. THE CIT(A) 5. D.R. ASSISTANT REGISTRAR