Shri Karthikeshwar Ramgada , Hubballi V. The Income TAx Officer ward-3(2), Hubballi

ITA 1669/BANG/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 7150 (ITAT-BANGALORE)
• Duration Of Justice: 3 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2017
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 14-08-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: PALANI KUMAR
• Assessee Lawyers: TULAJAPPA KALBURGI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH SMC-B, BANGALORE BEFORE SHRI A.K.GARODIA, ACCOUNANT MEMBER ITA NO.1669 (BANG) 2017 (ASSESSMENT YEAR : 2009 10) SHRI KARTHIKESHWAR RAMGADA, A PPELLANT SIDDI GLASS WORK, 1 ST GATE, GOKUL ROAD, INDUSTRIAL ESTATE, HUBBALLI - 580030 PAN. AIOPR2595P VS THE ITO, WARD 3 (2, HUBLI CIT (A) HUBBALLI RESPONDENT ASSESSEE BY : SHRI TULAJAPPA KALBURGI, ADVOCATE REVENUE BY : SHRI PALANI KUMAR, ADDL. CIT DATE OF HEARING : 21-11-2017 DATE OF PRONOUNCEMENT : 2 4-11-2017 O R D E R PER A. K. GARODIA, A.M.: THIS APPEAL IS FILED BY THE ASSESSEE WHICH IS DIRE CTED AGAINST THE ORDER OF CIT (A) HUBLI DATED 05.05.2017 FOR A. Y. 2009 10. 2. THE ASSESSEE HAS RAISED SEVERAL GROUNDS BUT ONLY THREE ISSUES ARE INVOLVED. FIRST ISSUE IS ABOUT ADDITION OF RS. 20 LACS MADE B Y THE AO IN RESPECT OF CASH DEPOSITED BY THE ASSESSEE ON 27.08.2008 IN BANK ACC OUNT MAINTAINED WITH PRAGATI GRAMEENA BANK. THE SECOND ISSUE IS ABOUT ADDITION M ADE BY THE AO U/S 69 OF RS. 318,373/- IN RESPECT OF EXCESS CASH AT BANK AS PER BANK STATEMENT OF PRAGATI GRAMEENA BANK & SBM AS COMPARED TO BALANCE SHEET. THE THIRD ISSUE IS ABOUT ADDITION MADE BY THE AO ON ACCOUNT OF ALLEGED UNACC OUNTED INTEREST INCOME OF RS. 84,475/-. THIS IS WORTH NOTING THAT A DEFECT MEMO W AS ISSUED POINTING OUT THAT RESPONDENTS NAME MENTIONED IN FORM 36 IS INCORRE CT. THE NAME OF RESPONDENT MENTIONED IN THE APPEAL MEMO IS CIT (A), HUBBALLI. IN SPITE OF THIS, AMENDED FORM 36 WITH CORRECT NAME OF RESPONDENT WAS NOT FILED TILL THE DATE OF HEARING ON 21.11.2017. THE APPEAL WAS HEARD AND IS BEING DISPOSED OF BY TH IS ORDER AND I HAVE NOTED BOTH NAMES AS OF RESPONDENT I.E. THE NAME OF CIT (A) AS PER FORM 36 AND OF THE A.O. AS PER THE ASSESSMENT ORDER. ITA NO. 1669(BANG)2017 2 3. LEARNED AR OF THE ASSESSEE MADE VARIOUS ARGUMENT S BUT AT THE END, HE SUBMITTED THAT THE ASSESSEE DESERVES A RELIEF OF RS . 2.15 LACS AS NOTED BY CIT (A) IN PARA 14 OF HIS ORDER THAT A PROPERTY WAS SOLD BY TH E ASSESSEE LACS ALONG WITH SIX BROTHERS FOR RS. 15 LACS AND THE SHARE OF THE ASSES SEE IN THAT SALE PROCEEDS WAS RS. 2.15 LACS. LEARNED DR OF THE REVENUE SUPPORTED THE ORDERS OF THE AUTHORITIES BELOW. 4. I HAVE CONSIDERED THE RIVAL SUBMISSIONS. I FIND THAT IN THE FACTS OF THE PRESENT CASE AND IN VIEW OF THE ORDERS OF THE AUTHORITIES B ELOW AND AFTER CONSIDERING THE VARIOUS ARGUMENTS MADE BEFORE ME, THE ASSESSEE DESE RVES A RELIEF OF RS. 2.15 LACS BEING THE SHARE OF THE ASSESSEE IN THE SALE PROCEED S OF THE LAND SOLD BY THE ASSESSEE JOINTLY WITH HIS SIX BROTHERS AS NOTED BY THE CIT (A) IN PARA 14 OF HIS ORDER BUT NO OTHER RELIEF IS ALLOWABLE. I ORDER ACCORDING LY. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS PAR TLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENT IONED ON THE CAPTION PAGE. SD/- (A.K. GARODIA) ACCOUNTANT MEMBER BANGALORE D A T E D : 24.11.2017. /MS/ COPY TO: 1. APPELLANT 2. RE SPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.