Sri Jagannath Paul, Paschim Medinipur V. ITO, Ward-2(3),Midnapur, Paschim Medinipur

ITA 1717/KOL/2014

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 83208 (ITAT-KOLKATA)
• Duration Of Justice: 2 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-11-2014
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 01-09-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: GAUTAM GHOSH

Judgement Text

I. T.A. NO . 1 7 1 7 / KOL ./201 4 ASSESSMENT YEAR: 200 9 - 20 10 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA SMC BENCH, KOLKATA BEFORE SHRI GEORGE MATHAN , JUDICIAL MEMBER I.T.A. NO. 1 717 / KOL / 20 1 4 ASSESSMENT YEAR : 200 9 - 20 10 SRI JAGANNATH PAUL,......................... ....... .... ............. .. .APP ELL ANT VILL . MOYNAPARA, P.O. & P.S. : BELDA, DIST. PASCHIN MEDINIPUR - 721 424 [PAN : A KYPP 0776 A ] - VS. - INCOME TAX OFFICER , ........................... ................... ... . RESPONDENT WARD - 2 ( 3 ), MIDNAPORE , SAHOO BHAWAN, OPP. TO ZILLA PARISHAD MIDNAPORE, P ASCHIM MEDINIPUR - 721 101 APPEARANCES BY: S HRI GAUTAM GHOSH, ADVOCATE, FOR THE ASSESSEE S MT. RANU BISWAS , J CIT, SR. D.R., FOR THE DEPARTMENT DATE OF CONCLUDING THE HEARING : NOVEMBER 2 8 , 2 01 4 DATE OF PRONOUNCING THE ORDER : NOVEMBER 28 , 201 4 O R D E R P ER GEORGE MATHAN : THIS IS AN APPEAL FILED BY THE ASSESSE E AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS) - XXXVI , KOLKATA IN APPEAL NO. 252 / CIT(A) - XXXV I / KOL/ W D - 2 ( 3 ) /MID /20 11 - 12 D ATED 30 . 0 6 .201 4 FOR THE ASSESSMENT YEAR 200 9 - 10 . 2. S H RI GAUTAM GHOSH, ADVOCATE , REPRESENTED ON BEHALF OF THE ASSESSEE AND SMT. RANU BISWAS, JCIT, SR. D.R. REPRESENTED ON BEHALF OF THE REVENUE. 3. IT WAS SUBMITTED BY THE LD. A.R THAT THE ONLY ISSUE IN THE ASSESSEE S APPEAL WAS AGAINST THE ACTION OF THE LD. CIT(APPEALS) IN CONFIRMING THE ACTION OF THE ASSESSING OFFICER IN ESTIMATING THE INCOME OF THE ASSESSEE AT I. T.A. NO . 1 7 1 7 / KOL ./201 4 ASSESSMENT YEAR: 200 9 - 20 10 PAGE 2 OF 3 10% BY TAKING TOTAL OF THE DEPOSITS IN THE ASSESSEE S BANK ACCOUNT S WITH PUNJAB NATIONAL BANK, BELDA BRANCH AND STATE BANK OF INDIA, BELDA BRANCH. IT WAS THE SUBMISSION THAT THE ASSESSEE HAD BUSINESS TURNOVER OF RS.39,46,300/ - BUT THE ASSESSING OFFICER HAD ADOPTED THE TURNOVER AT RS.44,41,05 4 / - . IT WAS THE SUBMISSION THAT WHEN ARRIVING AT THE TURNOVER OF RS.44,41,054/ - THE ASSESSING OFFICER HAD ADOPTED THE TOTAL DEPOSIT IN BOTH THE BANK ACCOUNTS. HE HAD NOT GRANTED THE ASSESSEE BENEFIT OF DEDUCTION OF THE INTER - BANK TRANSFER S . IT WAS THE SUBMISSION THAT THE INTER - BANK TRANSFER WAS TO AN EXTENT OF RS.4,95,759/ - . IT WAS THE SUBMISSION THAT AS THE ASSESSEE S TURNOVER WAS LESS THAN RS.40,00,000/ - , THE ASSESESE HAD FILED HIS RETURN OF INCOME BY APPLYING THE PROVISIONS OF SECTION 44AF. HOWEVER, BY ADOPTING TOTAL DEPOSITS IN BOTH THE BANKS, THE ASSESSING OFFICER HAD CALCULATED THE TURNOVER WHICH EXCEEDED RS.40, 00,000/ - AND CONSEQUENTLY HAD ESTIMATED THE INCOME OF THE ASSESSEE AT 10%. IT WAS THE SUBMISSION THAT HE HAD NO OBJECTION IF THE ISSUE WAS RESTORED TO THE FILE OF THE ASSESSING OFFICER FOR VERIFICATION OF THE INTER - BANK DEPOSITS. 4. IN REPLY, LD. SR. D.R. VEHEMENTLY SUPPORTED THE ORDER OF THE ASSESSING OFFICER AND LD. CIT(APPEALS). 5. I HAVE CONSIDERED THE RIVAL SUBMISSIONS. I T IS NOTICED THAT THE ASSESSEE HAS RAISED AN ISSUE OF INTER - BANK TRANSFER S BEFORE THE LD. CIT(APPEALS) AND THE LD. CIT(APPEALS) HAS NOT CONSIDERED THIS SUBMISSION OF THE ASSESSEE. IF THE INTER - BANK TRANSFERS ARE CONSIDERED, THEN THE TURNOVER OF THE ASSESSEE WOULD FALL BELOW RS.40,00,000/ - . THEN ADMITTEDLY THE PROVISIONS OF SECTION 44AF WOULD BE RIGHTLY APPLIED BY THE ASSESSEE. IN THES E CIRCUMSTANCES, THE ISSUES IN THIS APPEAL ARE RESTORED TO THE FILE OF THE ASSESSING OFFICER FOR VERIFYING THE ASSESSEE S CLAIM OF THE INTER - BANK DEPOSITS. IF THE CLAIM OF THE ASSESESE IS FOUND TO BE CORRECT, THE SAME SHALL BE REDUCED FROM THE TOTAL TURNOV ER. IF THE TOTAL TURNOVER I. T.A. NO . 1 7 1 7 / KOL ./201 4 ASSESSMENT YEAR: 200 9 - 20 10 PAGE 3 OF 3 FALLS BELOW RS.40,00,000/ - , THEN ADMITTEDLY THE PROVISIONS OF SECTION 44AF ARE TO BE APPLIED. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES . ORDER PRONOUNCED IN THE OPEN COURT ON 28 TH NOV EMBER , 2014. SD/ - GEORGE MATHAN ( JUDICIAL MEMBER) KOLKATA, THE 28 TH D AY OF NOVE MBER , 201 4 COPIES TO : (1) SRI JAGANNATH PAUL, VILL. MOYNAPARA, P.O. & P.S. : BELDA, DIST. PASCHIN MEDIN IPUR - 721 424 (2) INCOME TAX OFFICER, WARD - 2(3),MIDNAPORE, SAHOO BHAWAN, OPP. TO ZILLA PARISHAD MIDNAPORE, PASCHIM MEDINIPUR - 721 101 (3) COMMISSIONER OF INCOME - TAX (APPEALS) (4) COMMISSIONER OF INCOME TAX ( 5 ) THE DEPARTMENTAL REPRESENTA TIVE ( 6 ) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES, KOLKATA LAHA/SR. P.S .