ITO, New Delhi V. Sh. Anil Kumar Aggarwal, New Delhi

ITA 1718/DEL/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 97278 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-09-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 20-07-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 25-03-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K K JAISWAL
• Assessee Lawyers: ANIL KUMAR AGGARWAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH A AA A : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER AND AND AND AND SHRI SHRI SHRI SHRI CHANDRA MOHAN GARG CHANDRA MOHAN GARG CHANDRA MOHAN GARG CHANDRA MOHAN GARG, JUDICIAL , JUDICIAL , JUDICIAL , JUDICIAL MEMBER MEMBER MEMBER MEMBER I II I TA NO. TA NO. TA NO. TA NO. 1718 1718 1718 1718 /DEL/2 /DEL/2 /DEL/2 /DEL/2 013 013 013 013 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 200 200 200 200 8 88 8 - -- - 09 0909 09 INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -46(2), 46(2), 46(2), 46(2), NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. VS. VS. VS. VS. SH SHSH SH RI ANIL KUMAR AGGARWAL, RI ANIL KUMAR AGGARWAL, RI ANIL KUMAR AGGARWAL, RI ANIL KUMAR AGGARWAL, WZ WZWZ WZ- -- -G GG G- -- -102, G 102, G 102, G 102, G- -- -BLOCK, BLOCK, BLOCK, BLOCK, UTTAM NAGAR, UTTAM NAGAR, UTTAM NAGAR, UTTAM NAGAR, NEAR ARYA SAMAJ ROAD, NEAR ARYA SAMAJ ROAD, NEAR ARYA SAMAJ ROAD, NEAR ARYA SAMAJ ROAD, NEW DELHI NEW DELHI NEW DELHI NEW DELHI 110 059. 110 059. 110 059. 110 059. PAN : AGCPA0468N. PAN : AGCPA0468N. PAN : AGCPA0468N. PAN : AGCPA0468N. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI K.K. JAISWAL, SR.DR. RESPONDENT BY : SHRI ANIL KUMAR AGGARWAL, ASSESSEE. DATE OF HEARING : 20.07.2015 20.07.2015 20.07.2015 20.07.2015 DATE OF PRONOUNCEMENT : 18.09.2015 18.09.2015 18.09.2015 18.09.2015 ORDER ORDER ORDER ORDER PER N.K. SAINI, AM PER N.K. SAINI, AM PER N.K. SAINI, AM PER N.K. SAINI, AM : :: : THIS IS AN APPEAL BY THE DEPARTMENT AGAINST THE ORDER DATED 14 TH JANUARY, 2013 OF LEARNED CIT(A)-XXX, NEW DELHI. 2. THE ONLY GRIEVANCE OF THE DEPARTMENT IN THIS APPE AL RELATES TO THE DELETION OF THE ADDITION OF `16,55,261/- MADE B Y THE ASSESSING OFFICER ON ACCOUNT OF UNEXPLAINED CASH DEPOSIT. 3. FACTS OF THE CASE IN BRIEF ARE THAT THE ASSESSEE FILE D THE RETURN OF INCOME ON 14.10.2008 DECLARING AN INCOME OF `1,04,4 10/-. LATER ON, THE CASE WAS SELECTED FOR SCRUTINY. THE ASSESSING OFFICER, DURING THE COURSE OF ASSESSMENT PROCEEDINGS, NOTICED THAT THE ASSESSEE HAD ITA-1718/DEL/2013 2 DEPOSITED CASH IN BANK AMOUNTING TO `16,55,261/- DURI NG THE FINANCIAL YEAR 2007-08. HE ASKED THE ASSESSEE TO EXPLAIN THE SOUR CE OF THE SAID CASH DEPOSIT. IN REPLY, THE ASSESSEE SUBMITTED THAT DURIN G THE COURSE OF TRAVELLING FOR OFFICIAL PURPOSES OUTSIDE DELHI, HE HAD DEPOSITED UNUTILIZED CASH INTO THE BANK FOR SAFETY PURPOSE AND FUTURE UTILIZATION. THE ASSESSING OFFICER WAS NOT SATISFIED FROM THE REPLY OF THE ASSESSEE AND MADE THE ADDITION OF `16,55,261/-. BEING AGGRI EVED, THE ASSESSEE CARRIED THE MATTER TO THE LEARNED CIT(A) AND FURNISH ED THE WRITTEN SUBMISSION WHICH HAS BEEN INCORPORATED IN PARAGRAPH 4 O F THE IMPUGNED ORDER AND IS REPRODUCED VERBATIM AS UNDER:- THE ASSESSEE HAS FILED HIS INCOME TAX RETURN FOR THE ABO VE SAID ASSESSMENT YEAR DECLARING INCOME OF RS.1,04,410/- THE CASE WAS SELECTED FOR SCRUTINY THROUGH CASS UNDER A.I.R. CATEGORY. THE ASSESSING OFFICER HAS MADE AN ADDITION OF RS.16,55,261/- ON A/C OF CASH DEPOSITED WI TH BANK. IN THIS REGARD WE HAVE BEEN DIRECTED TO SUBMIT AS UNDER: THE ASSESSEE WAS WORKING IN M/S ECONOMIC TRANSPORT ORGANIZATION IN DELHI BRANCH AS CASHIER AND OTHER WOR K. THE CASH RS.9,65,599/- WAS DEPOSITED BY OTHER BRANCH IN HIS A/C FOR DAY TO DAY EXPENSES, THE ASSESSEE HAS WITHDRAWAL ALL CASH AND DEPOSIT IN COMPANY A/C (CASH BOOK) ON THE SAME DAY, RECEIPT FOR CASH DEPOSITED WITH COMPANY ARE ENCLOSED. THE ASSESSING OFFICER HAS CONSIDERED THE CASH DEPOSIT WITH BANK BUT HE FAILED TO CONSIDER THE CASH WITHDRAWAL FR OM BANK. THE ASSESSEE HAS DEPOSIT THE CASH WITH BANK BUT HE ALSO WITHDRAWAL THE CASH RS.8,95,000/- FROM HIS BANK A/ C OUT OF HE HAS TAKEN LOAN FROM BANKS. IT IS THEREFORE REQUESTED TO YOU THE ASSESSEE IS A VERY P OOR MAN AND HE IS NOT IN POSITION TO DEPOSIT ANY AMOUNT W ITH THE INCOME TAX DEPARTMENT THEREFORE DELETE THE ADDI TION MADE BY THE LEARNED ASSESSING OFFICER. ITA-1718/DEL/2013 3 4. LEARNED CIT(A), AFTER CONSIDERING THE SUBMISSIONS OF THE ASSESSEE, OBSERVED THAT THE ASSESSEE HAD TAKEN A LOAN FROM I CICI BANK OF `4,62,563/- FOR RUNNING HIS FAMILY AND PAYING SOME AMOUNT TO OTHERS. HE HAD ALSO TAKEN A LOAN OF `7,30,000/- WITH CITI FINANCIAL CONSUMER FINANCE INDIA LTD. ON 11.09.2007 AT AN INTE REST OF 15% WHICH ALSO HAD BEEN USED FOR HIS OWN CONSUMPTION. LEAR NED CIT(A) FURTHER OBSERVED THAT THE ASSESSEE HAD GIVEN DETAILS OF B ANK WITHDRAWALS AND CASH DEPOSIT IN BANK IN HIS OWN CAPACIT Y. HE CATEGORICALLY STATED THAT THE ASSESSEE HAD OWN WITHDRAW AL OF `8,95,000/- ON VARIOUS DATES AND CASH DEPOSIT WITH BANK WAS OF `7,20,000/- IN HIS ACCOUNT. HE FURTHER OBSERVED THAT THE ASSESSEE HAD RECEIVED CASH FROM VARIOUS BRANCHES OF EMPLOYERS M/S ECO NOMIC TRANSPORT ORGANISATION AMOUNTING TO `9,65,599/- AND D EPOSITED IN HEAD OFFICE ACCOUNT OF M/S ECONOMIC TRANSPORT ORGANISA TION ON AMOUNT OF `9,56,000/-. ACCORDING TO THE LEARNED CIT(A), T HE CASH DEPOSITS ARE MATCHED AND SATISFACTORILY EXPLAINED FROM CASH RECEIP TS FROM OTHER BRANCHES AS WELL AS OWN LOAN TAKEN FROM BANKS. HE, THE REFORE, HELD THAT THE CASH DEPOSIT OF `16,55,261/- STOOD EXPLAINED . ACCORDINGLY, THE ADDITION MADE BY THE ASSESSING OFFICER WAS DELETED. NOW , THE DEPARTMENT IS IN APPEAL. 5. LEARNED DR STRONGLY SUPPORTED THE ORDER OF THE ASSESSI NG OFFICER AND REITERATED THE OBSERVATIONS MADE IN THE ASSESSMENT O RDER DATED 28.11.2010. 6. IN HIS RIVAL SUBMISSIONS, THE ASSESSEE, WHO APPEARED PERSO NALLY, REITERATED THE SUBMISSIONS MADE BEFORE THE LEARNED CIT( A) AND STRONGLY SUPPORTED THE IMPUGNED ORDER. ITA-1718/DEL/2013 4 7. WE HAVE CONSIDERED THE SUBMISSIONS OF BOTH THE PARTI ES AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IN THE PR ESENT CASE, IT APPEARS THAT THE ASSESSING OFFICER, WITHOUT CONSIDERING T HE CASH RECEIVED BY THE ASSESSEE FROM THE VARIOUS BRANCHES AND T HE LOANS TAKEN FROM THE BANKS WHICH WERE DEPOSITED IN THE BANK ACCOUNT, MADE THE ADDITION. THE LEARNED CIT(A) VERIFIED FROM THE RECORD AND CAME TO THE CONCLUSION THAT THE CASH DEPOSITED IN THE BANK ACC OUNT WAS MATCHED AND SATISFACTORILY EXPLAINED FROM CASH RECEIP TS FROM OTHER BRANCHES AS WELL AS LOANS TAKEN BY THE ASSESSEE FROM THE B ANKS AND CAME TO THE CONCLUSION THAT CASH DEPOSIT OF `16,55,26 1/- ON VARIOUS DATES WAS EXPLAINED. IN THE PRESENT CASE, NOTHING CONT RARY TO THE OBSERVATION OF THE LEARNED CIT(A) IS BROUGHT ON RECOR D. WE, THEREFORE, DO NOT SEE ANY VALID GROUND TO INTERFERE WITH THE FI NDINGS OF THE LEARNED CIT(A). 8. IN THE RESULT, THE APPEAL OF THE DEPARTMENT IS DISM ISSED. DECISION PRONOUNCED IN THE OPEN COURT ON 18.09.2015 . SD/- SD/- (CHANDRA MOHAN GARG (CHANDRA MOHAN GARG (CHANDRA MOHAN GARG (CHANDRA MOHAN GARG ) )) ) (N.K. SAINI (N.K. SAINI (N.K. SAINI (N.K. SAINI ) )) ) JUDICIAL JUDICIAL JUDICIAL JUDICIAL MEMBER MEMBER MEMBER MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER VK. COPY FORWARDED TO: - 1. APPELLANT : INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -46(2), NEW DELHI. 46(2), NEW DELHI. 46(2), NEW DELHI. 46(2), NEW DELHI. 2. RESPONDENT : SHRI ANIL KUMAR AGGARWAL, SHRI ANIL KUMAR AGGARWAL, SHRI ANIL KUMAR AGGARWAL, SHRI ANIL KUMAR AGGARWAL, WZ WZWZ WZ- -- -G GG G- -- -102, G 102, G 102, G 102, G- -- -BLO BLOBLO BLOCK, UTTAM NAGAR, CK, UTTAM NAGAR, CK, UTTAM NAGAR, CK, UTTAM NAGAR, NEAR ARYA SAMAJ ROAD, NEW DELHI NEAR ARYA SAMAJ ROAD, NEW DELHI NEAR ARYA SAMAJ ROAD, NEW DELHI NEAR ARYA SAMAJ ROAD, NEW DELHI 110 059. 110 059. 110 059. 110 059. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR