Shri Manojkumar Mohamedali Jivani, Nani Daman V. The Income Tax Officer, Vapi Ward-4, Daman

ITA 168/AHD/2016

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9631 (ITAT-AHMEDABAD)
• Duration Of Justice: 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-02-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2006-2007
• Appeal Filed On: 22-01-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit; Additional evidence; Condonation of delay
• Section: 147; 68; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH AHMEDABAD BEFORE SHRI GEORGE GEORGE K, JUDICIAL MEMBER ITA NO.168/AHD/2016 ASST. YEAR: 2006-07 MANOJKUMAR MOHAMEDALI JIVANI, 502, ROYAL PALACE, KHANWAD, NANI DAMAN. VS. ITO, VAPI WARD -4, DAMAN. APPELLANT RESPONDENT PAN ACNPJ 6790P APPELLANT BY SHRI HARDIK VORA, AR RESPONDENT BY SHRI KAMLESH MAKWANA, SR.DR DATE OF HEARING: 18/02/2016 DATE OF PRONOUNCEMENT: 18/02/2016 O R D E R PER GEORGE GEORGE K, JUDICIAL MEMER. THIS APPEAL AT THE INSTANCE OF ASSESSEE IS DIRECTED AGAINST THE ORDER OF CIT(A) DATED 29.06.2015 FOR ASST. YEAR 200 6-07. 2. SOLITARY GRIEVANCE OF ASSESSEE IN THIS APPEAL IS WHETHER THE CIT(A) IS JUSTIFIED IN CONFIRMING THE ADDITION OF R S.10,11,200/- IN RESPECT OF CASH DEPOSIT IN THE BANK ACCOUNT. 3. BASED ON AIR INFORMATION THE ASSESSING OFFICER O BSERVED THAT THE ASSESSEE MADE CASH DEPOSIT OF RS.10,11,200/- IN A SAVINGS BANK ITA NO. 168/AHD/2016 ASST. YEAR 2006-07 2 ACCOUNT OF HDFC BANK LTD. ASSESSMENT WAS COMPLETED U/S 144 R.W.S. 147 OF THE I.T. ACT, 1961 (IN SHORT THE ACT) VIDE ORDER DATED 19.11.2013, ASSESSING THE SAME AS UNEXPLAINED CASH CREDIT U/S 68 OF THE ACT. 4. ON APPEAL, THE FIRST APPELLATE AUTHORITY CONFIRM ED THE ADDITION MADE BY THE ASSESSING OFFICER. 5. AGGRIEVED, THE ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL. 6. THIS APPEAL HAS BEEN FILED BELATEDLY BY 147 DAYS . ASSESSEE HAS FILED A PETITION FOR CONDONATION OF DELAY ALONG WITH AFFIDAVIT OF THE ASSESSEE. ON PERUSAL OF THE PETITION FOR CONDONATIO N OF DELAY AND AFFIDAVIT OF THE ASSESSEE I AM OF THE OPINION THAT THERE IS SUFFICIENT REASON TO CONDONE THE DELAY IN FILING THE APPEAL TH EREFORE I CONDONE THE SAME AND PROCEED TO DISPOSE OF THE MATTER ON ME RITS. 7. THE ASSESSEE HAS ALSO FILED A PETITION FOR ADMIS SION OF ADDITIONAL EVIDENCES. ADDITIONAL EVIDENCES ARE IN T HE FORM OF BANK ACCOUNT, REGISTRATION BEFORE CENTRAL SALES TAX AUTH ORITY, COMPUTATION, PROFIT AND LOSS ACCOUNT AND BALANCE SHEET. THE ASSE SSEE HAS ALSO FURNISHED COPIES OF CONFIRMATION LETTERS TO WHOM TH E ASSESSEE HAD MADE SALES OF GOODS FOR THE RELEVANT YEAR. ADMITTED LY THE ASSESSEE WHO IS AN INDIVIDUAL IS ENGAGED IN THE BUSINESS OF TRADING OF PEA-NUTS AND CHICK-PEAS. THE ASSESSEE IS CARRYING ON HIS BUS INESS ON DEVKA BEACH, DAMAN. THE ASSESSEE DID NOT HAVE MUCH KNOWLE DGE OF FILING OF INCOME-TAX RETURN AND WAS HAVING INCOME BELOW TH E TAXABLE LIMIT ITA NO. 168/AHD/2016 ASST. YEAR 2006-07 3 FOR ALL THE YEARS PRIOR TO THE CONCERNED ASSESSMENT YEAR. THE ASSESSEE HAS FURNISHED ADDITIONAL EVIDENCES WHICH G O TO THE ROOT OF THE ISSUE AND IN THE INTEREST OF SUBSTANTIAL JUSTIC E AND EQUITY I AM OF THE OPINION THAT THE MATTER NEEDS TO BE CONSIDERED TAKING INTO ACCOUNT THE ADDITIONAL EVIDENCES NOW FILED BEFORE M E. ACCORDINGLY THE ADDITIONAL EVIDENCES FILED ARE TAKEN ON RECORD AND I REMAND THE MATTER TO THE FILE OF ASSESSING OFFICER FOR CONSIDE RATION OF THE ISSUE AFRESH. I ORDER ACCORDINGLY. 8. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS A LLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH FEBRUARY, 2016 SD/- (GEORGE GEORGE K) JUDICIAL MEMBER DATED : 18 /02/2016 MAHATA/- COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) CONCERNED 5. THE DR, ITAT, AHMEDABAD 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, AHMEDABAD ITA NO. 168/AHD/2016 ASST. YEAR 2006-07 4 1. DATE OF DICTATION: 18/02/2016 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE T HE DICTATING MEMBER: 18/02/2016 OTHER MEMBER: 3. DATE ON WHICH APPROVED DRAFT COMES TO THE SR. P. S./P.S.: 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE TH E DICTATING MEMBER FOR PRONOUNCEMENT: __________ 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE S R. P.S./P.S.: 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK: 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK: 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER: 9. DATE OF DESPATCH OF THE ORDER: