Neha Chowdhary, Howrah V. ITO, Ward - 46(3) , Kolkata

ITA 1791/KOL/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 5914 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-02-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 05-02-2020
• Assessment Year: 2015-2016
• Appeal Filed On: 29-07-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.1790-1791/KOL/2019 ASSESSMENT YEARS:2014-15 & 2015-16 NEHA CHOWDHARY 295, G.T.ROAD, BELUR, HOWRAH-711202 [ PAN NO. AFLPA 8949 J ] / V/S . INCOME TAX OFFICER WARD-46(3), 3,GOVT. PLACE (WEST), KOLKATA- 700 071 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI MANISH TIWARI, FCA /BY RESPONDENT SHRI JAYANTA KHANRA, JCIT-SR-DR /DATE OF HEARING 05-02-2020 /DATE OF PRONOUNCEMENT 14-02-2020 /O R D E R THESE ASSESSEES TWO APPEAL(S) FOR ASSESSMENT YEAR S 2014-15 & 2015-16, ARISE AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-14 , KOLKATAS SEPARATE ORDERS; BOTH DATED 16.05.2019 PASSED IN CASE NOS.CIT(A), KO LKATA-14/10571/2016-17 AND CITIA,KOLKAT-14/10109/2017-18, RESPECTIVELY INVOLVI NG PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILES PERUSED. 2. THE ASSESSEES IDENTICAL SOLE GRIEVANCE CANVASSE D IN THESE TWO APPEALS SEEKS TO REVERSE BOTH THE LOWER AUTHORITIES ADDING THE ALLEG ED UNDISCLOSED INCOME OF 17,88,666/- AND 16,53,772/- RESPECTIVELY. LEARNED COUNSELS ONLY GR IEVANCE DURING THE COURSE OF HEARING IS THAT THE ASSESSEE IS A SAL ARIED PERSON WHO WAS SOLD HER STOCK HOLDING IN SHARES IN THE RELEVANT TWO PREVIOUS YEAR S. MR. TIWARI ALSO SOUGHT TO EMPHASISE THAT ASSESSEE HAS FILED ALL NECESSARY EVI DENCE BEFORE THE LOWER AUTHORITIES AS WELL. THE REVENUES CASE ON THE OTHER HAND IS THAT THE IMPUGNED SUMS HAVE BEEN ITA NO.1790-91/KOL/2019 A.YS.2014- 15 & 2015-16 NEHA CHOWDHARY VS. ITO WD-46(3), KOL. PAGE 2 RIGHTLY TREATED AS UNEXPLAINED INCOME SINCE ASSESSE E COULD NOT PROVE SOURCE THEREOF DURING THE COURSE OF SCRUTINY AS WELL AS IN THE LOW ER APPELLATE PROCEEDINGS. 3. I HAVE HEARD RIVAL CONTENTIONS AGAINST AND IN SU PPORT OF BOTH THE PARTIES. IT EMERGES THAT FROM A PERUSAL OF THESE CASE FILES THA T ALTHOUGH THE ASSESSEE HAS PRODUCED HER DOCUMENTARY EVIDENCE BEFORE THE LOWER AUTHORITI ES ABOUT THE IMPUGNED SUMS TO BE IN THE NATURE OF INCOME DERIVED FROM THE SALES OF S HARES, THE FACT REMAINS THAT HER DETAILED EXPLANATION TENDERED IN THE COURSE OF ASSE SSMENT TILL DATE DOES NOT SUFFICIENTLY DISCHARG HER ONUS ON PROVING THE SOURCE OF IMPUGNED DEPOSITS. I THEREFORE DEEM IT APPROPRIATE IN THESE PECULIAR FACTS AND CIRCUMSTANC ES THAT THE IMPUGNED ADDITION(S) OF 17,88,666/- AND 16,53,772/- DESERVED TO BE RESTRICTED TO THAT @ 30% ONLY WITH A RIDER THAT SAME SHALL NOT BE TREATED AS A PRECEDENT IN ANY OTHER ASSESSMENT YEAR. THE ASSESSEE GETS PART RELIEF ACCORDINGLY. NECESSARY CO MPUTATION TO FOLLOW AS PER LAW. 4. THESE ASSESSEES TWO APPEALS ARE PARTLY ALLOWED IN ABOVE TERMS. A COPY OF THE INSTANT COMMON ORDER BE PLACED IN RESPECTIVE CASE F ILES . ORDER PRONOUNCED IN OPEN COURT ON 14/02/2020 SD/- (S.S. GODARA) JUD ICIAL MEMBER KOLKATA, *DKP/SR.PS - 14/02/2020 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-NEHA CGIWDGART, 295, G.T.ROAD, BELUR, HO WRAH-711202 2. /RESPONDENT-ITO WARD-46(3),3, GOVT. PLACE (WEST), K OLKATA-700 071 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ ',