The ITO, Ward-1, Gandhidham, V. Shri Raghunath R. Gakhar,

ITA 1688/RJT/2005

• Counselvise Citation: 168824914 RSA 2005
• Duration Of Justice: 6 year(s) 4 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2012
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: DB
• Next Hearing Date: 25-04-2012
• Assessment Year: 1997-1998
• Appeal Filed On: 14-12-2005
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: MK SINGH
• Assessee Lawyers: SANJAY R SHAH

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBULAL; RAJKOT BENCH, RAJKOT. . .. . . .. . , , , , . .. . . .. . , , , , $ $ $ $ BEFORE SHRI T. K. SHARMA, JM AND SHRI D. K. SRIVAST AVA, AM ITA NO. 1688/RJT/2005 / ASSESSMENT YEAR 1997-98 THE I.T.O., WARD-1, GANDHIDHAM. ( */ APPELLANT) VS. SHRI RAGHUNATH R. GAKHAR, PLOT NO.20, SECTOR-I-A, GANDHIDHAM-KUTCH. +,*/ RESPONDENT - / REVENUE BY SHRI. M. K. SINGH, D.R. /- / ASSESSEE BY SHRI SANJAY R. SHAH, C.A. - / DATE OF HEARING 26-04-2012 - / DATE OF PRONOUNCEMENT 04- 05-2012 / / / / ORDER . .. . . . . . , , , , / T. K. SHARMA, J. M. THIS APPEAL OF THE REVENUE WAS DECIDED BY THE TRIBUNAL ON DATED 01-09-2006. SU BSEQUENTLY, ON A MISCELLANEOUS APPLICATION OF THE REVENUE IN M.A.NO. 21/RJT/2007, VIDE ORDER DATED 30-05-2008, THIS ORDER WAS RECALLED FOR DECIDING TH E GROUND NO.2 WHICH READS AS UNDER:- 2. THE LEARNED CIT(A) HAS ERRED IN LAW & ON FACTS IN DELETING THE ADDITION OF RS.1,41,000/- MADE ON ACCOUNT OF CASH C REDIT RECEIVED BY THE ASSESSEE FROM EIGHT PERSONS. 2. AT THE TIME OF HEARING BEFORE US, ON BEHALF OF R EVENUE, SHRI M. K. SINGH. DR APPEARED AND ON THE REASONING GIVEN BY THE AO IN THE ASSESSMENT ORDER CONTENDED THAT ASSESSEE FAILED TO PROVE THE IDENTIT Y OF THE DEPOSITORS AND GENUINENESS OF THE TRANSACTION. THEREFORE, LD. CIT( A) IS NOT JUSTIFIED IN DELETING THE ADDITION OF RS.1,41,000/- IN RESPECT OF EIGHT C REDITORS. AS AGAINST THIS, SHRI SANJAY R. SHAH, CA APPEARED ON BEHALF OF THE ASSESS EE AND SUPPORTED THE ORDER OF LD. CIT(A). THE COUNSEL OF THE ASSESSEE S UBMITTED THAT IN RESPECT OF TAX, ITA NO 1688/RJT/2005 2 THE AO MADE ADDITION OF RS.2,39,333/-. OUT OF THIS , IN THE IMPUGNED ORDER AFTER DETAILED DISCUSSION, AFTER APPRECIATING THE FACTS A ND MATERIALS AVAILABLE ON RECORD, THE LD. CIT(A) FOR THE DETAILED REASON GIVE N IN PARAA-7 OF THE IMPUGNED ORDER CONFIRMED THE ADDITION TO THE EXTENT OF RS.98 ,333/- AND DELETED THE BALANCE ADDITION OF RS.1,41,000/-. THE COUNSEL OF THE ASSESSEE SUBMITTED THAT VIEW TAKEN BY THE LD. CIT(A) LOOKING TO THE FACTS AND CIRCUMSTANCES, IS FAIR AND REASONABLE. THEREFORE, THE SAME BE UPHELD. 3. HAVING HEARD BOTH SIDES, WE HAVE CAREFULLY GONE THROUGH THE ORDER OF AUTHORITIES BELOW. IN THE IMPUGNED ORDER, THE LD. CIT(A) HAS MENTIONED THAT INDIVIDUAL AMOUNTS ARE NOT LARGE, THEY RANGE BETWEE N RS.2500/- TO RS.19,400/-. THESE SIX PLUS TWO CREDITORS HAVE CONFIRMED THE CRE DITS. THE CREDITS WERE FOR A SHORT PERIOD AND HAVE BEEN REPAID LONG BACK. KEEPI NG IN VIEW THESE PECULIAR CONTENTIOUS FACTS OF THE CASE, WE ARE OF THE VIEW T HAT THE LD. CIT(A) HAS GIVEN COGENT REASON FOR DELETING THE ADDITION OF RS.1,41, 000/-. WE THEREFORE, INCLINED TO UPHELD THE ORDER OF LD. CIT(A). 4. IN THE RESULT, THE GROUND NO.2 IS REJECTED AND FOR STATISTICAL PURPOSES, APPEAL OF REVENUE IS TREATED AS PARTLY ALLOWED. THIS ORDER IS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED HEREINABOVE. SD/- SD/- ( .. / D. K. SRIVASTAVA) ( .. / T. K. SHARMA) / ACCOUNTANT MEMBER /JUDICIAL MEMBER 3/ ORDER DATE 04-05-2012. /RAJKOT ITA NO 1688/RJT/2005 3 - -- - +4 +4 +4 [phone] / COPY OF ORDER FORWARDED TO:- 1. * / APPELLANT-. THE ITO,WARD-1, GANDHIDHAM. 2. +,* / RESPONDENT-SHRI RAGHUNATH R. GAKHAR, GANDHIDHAM- KUTCH. 3. : / CONCERNED CIT, JAMNAGAR. 4. :- / CIT (A)-II, RAJKOT.. 5. 4 +, , / DR, ITAT, RAJKOT 6. / GUARD FILE. / BY ORDER , ASSTT. REGISTRAR , INCOME TAX APPELLATE TRIBUNAL, RAJKOT.