SHRI PAREVEEN KUMAR, FEROZEPUR V. INCOME TAX OFFICER WARD-3(2), FEROZEPUR

ITA 167/ASR/2024

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 1194 (ITAT-AMRITSAR)
• Duration Of Justice: 3 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-07-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 06-05-2024
• Assessment Year: 2012-2013
• Appeal Filed On: 31-03-2024
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRIYANKA PATEL
• Keywords: Set aside
• Section: 147; 68; 144; 142(1)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. UDAYAN DAS GUPTA, JUDICIAL MEMBER I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 Parveen Kumar, Gali Thekedaran Wali, Ferozpur City. [PAN:AFTPK8917L] (Appellant) Vs. ITO-Ward 3(2), Ferozpur. (Respondent) Appellant by Sh. J. K. Gupta, Adv Respondent by Smt. Priyanka Patel, Sr. DR Date of Hearing 07.05.2024 Date of Pronouncement 04.07.2024 ORDER Per: Udayan Das Gupta, JM This appeal is filed by the assessee against the order of CIT ( A ) NFAC , dated 02/02/2024, passed u/s 250, of the Act 61, which has arisen out of the assessment order passed u/s 144 of the Act 61, dated 26/12/2019, by the AO, Ward 3(2) Ferozpur. 2. The appellant has taken fourteen grounds of appeal as per annexure attached to the memorandum of appeal in Form 36, which are more of the nature of arguments than grounds of appeal and the entire appeal revolves around one single I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 2 addition of Rs. 2,95,58,290/- made by the AO on account of cash deposited in Punjab National Bank, allegedly, by the assessee, during the FY 2011-12, relevant to the assessment year under appeal. 3. The brief facts of the case are that, the AO initiated proceedings u/s 147 of the Act 61, on the basis of PAN / AIR information that an amount of Rs.2.95 crores has been deposited in PNB, in some savings bank account, by the assessee, (PAN: AFTPK8917L) and in absence of any regular return on record, proceedings were initiated u/s 147 of the Act 61, after obtaining necessary approval from PCIT, Bhatinda. However, the assessee has not filed any return in response to notice u/s 148, which has been served by speed post and also through registered email available on the portal. 3.1 Notice u/s 142(1) of the Act 61, served through departmental notice server, and ITBA portal on four different occasions, has remained unanswered and un represented. 3.2 The assessment was completed on a total income of Rs.2,95,58,290/- ex parte, by treating the entire cash deposit in bank as un explained cash credit u/s 68 of the Act 61. 4. However, we note that in the entire body of the assessment order, it is stated as PNB (Punjab National Bank), but the specific bank account number, the bank I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 3 branch address details, the BSR and IFSC code of the particular bank branch in which the alleged deposit of cash has taken place, has not been mentioned. 5. The matter was carried in first appeal before CIT (A), and in course of hearing before the first appellate authority, written submissions has been filed by the assessee. 6. The Ld. CIT (A) sustained the addition, with the observations that the assessee has not filed his return and has not complied with the numerous notices issued by the AO during assessment proceedings. Moreover, in written submission filed before the first appellate authority, the assessee has simply relied upon judicial precedents of various courts, without explaining the factual aspect of the matter clearly, and unless the facts are laid out properly before the appellate authorities, it is very difficult to relate the various cited judgments to a particular set of facts. 7. The crux of the matter as argued before us by the Ld. AR, is that the assessee is an employee of “Oasis H P Junction”, Lambi , and the bank account where the alleged cash has been deposited, is actually A/c No 3452002100017881 - PNB / Loha Bazar, Malout ( and not 3452002100017880 as stated in IT Notice ) , and the same is related to “ Oasis H P Junction” , Lambi. I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 4 7.1 The assessee Mr. Parveen Kumar son of Prem Kumar, resident of Ferozpur , is maintaining account no . 3452000105121583 wef 17/01/2013 , and is related to PAN AFTPK8917L ( which is the assessee PAN). 7.2 In support of his submission, he has filed before the bench a certificate from Chief Manager, PNB, BG Ferozpur, issued sometime back in 06/12/2017 (i.e. issued before the assessment order dated 26/12/2019), but it is not ascertainable whether the said certificate has been considered by the AO, during assessment proceedings. 7.3 The said certificate from the banker is made a part of this appeal order for ready reference: I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 5 Bank Certificate dated 06/12/2021 PNB I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 6 I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 7 Another certificate (undated) has been submitted from PNB authorities stating that PNB A/c No - 3452002100017881 / Loha Bazar Branch, Malout, and A/c No PNB 75500210000068 – Lambi Branch, both are in the name of “OASIS HP OIL JUNCTION, Lambi .”. 7.3 Moreover, there is a third certificate from the PNB authorities dated 30/03/2017, Loha bazar, Malout, Branch head, which certifies that Oasis HP Oil Junction, Lambi, is the sole proprietorship concern of Harminder Singh Bhullar (HUF) PAN: AADHH9609D and the bank A/c No is 3452002100017881. This account was previously maintained at PNB, Bagdadi Gate, Ferozpur, and the said account was previously operated by Mr. Parveen Kumar (the appellant in this case), as authorized signatory of the HUF. Thereafter, after February, 2014, the said account has been transferred to Loha Bazar Branch, and since then the same account is operated by one Ravindra Kamra as authorized signatory. 8. It is further submitted by the Ld AR of the assessee that , all deposits pertaining to the bank account , which is a part of the PAN / AIR information , is the business bank account of the Oasis HP Oil Junction , Lambi, proprietorship concern of Harminder Singh Bhullar ( HUF ) PAN : AADHH9609D, and all transactions of deposits and withdrawals in the said bank account , are duly accounted for in the regular books of accounts of the aforesaid person and the I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 8 entire business is owned by the HUF and regular return of income has been submitted and all procedural formalities has been complied with. 9. The name and PAN of the appellant Sri Parveen Kumar, was recorded with the bank because at a certain period of time, he being the employee of the business concern, was the authorized signatory in the said account, which unfortunately, resulted in his name getting entangled, in this AIR information. 10. The Ld. DR, relied on the order of the CIT(A). 11. We have heard the submissions of both parties and considered the materials on record and the paper book containing 16 pages, and a brief synopsis, filed by the assessee. The bankers certificates referred to above has been filed before this Tribunal, and are all dated prior to the date of the assessment order, and it is not understood as to why these certificates has not been filed at the assessment stage, before the AO, or if at all filed before AO, there is no discussion of the same in the body of the assessment order, which could have rendered a much clearer picture at the time of assessment. 11.1 However, we are of the opinion that all the bankers certificates submitted, needs verification regarding its contents and authenticity vis a vis the cash deposits in the relevant bank account under examination, in context to the PAN, to which it is linked. I.T.A. No.167/Asr/2024 Assessment Year: 2012-13 9 12. As such we set aside the matter back to the files of the assessing officer, for de novo fresh assessment, after considering the bankers certificate (which are self- explanatory), and after considering all documentary evidences submitted by the assessee and causing all necessary verification as required as per provisions of law in context to the PAN linked to the account number. 12.1 Needless to say, the assessee will be provided proper opportunity of being heard and present his case with all necessary documentary evidences and the assessee is directed to fully cooperate and participate in the assessment proceedings. 13. In the result, the appeal of the assessee bearing ITA No. 167/Asr/2024 is allowed for statistical purposes. Order pronounced in the open court on 04.07.2024 Sd/- Sd/- (Dr. M. L. Meena) (UDAYAN DAS GUPTA) Accountant Member Judicial Member AKV Copy of the order forwarded to: (1)The Appellant (2) The Respondent (3) The CIT (4) The CIT (Appeals) (5) The DR, I.T.A.T. True Copy By order