Chandulal Ambalal Patel, Gandhinagar V. ITO, Mehsana Ward-5, Kadi

ITA 1799/AHD/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1795 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-02-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 12-05-2020
• Assessment Year: 2015-2016
• Appeal Filed On: 14-08-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S.S. SHUKLA
• Assessee Lawyers: HIMANSHU DESAI
• Keywords: Opportunity of being heard; Additional evidence
• Section: 143(3); 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & MS. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. NO. 1799/AHD/2018 (ASSESSMENT YEAR: 2015-16) CHANDULAL AMBALAL PATEL C/O. CA MANOJ LEKINWALA & CO., PLOT NO. 289, NR. GH-6 CIRCLE, SECTOR-29, GANDHNAGAR-382029 VS. ITO MEHSANA, WARD-5, KADI PAN NO. AABRPP7921K ( APPELLANT ) .. ( RESPONDENT ) APPELLANT BY : SHRI HIMANSHU DESAI , AR RESPONDENT BY : SHRI S. S. SHUKLA, SR. DR DATE OF HEARING 07.01.2021 DATE OF PRONOUNCEMENT 23 . 0 2 . 20 2 1 O R D E R PER MS. MADHUMITA ROY - JM: THE INSTANT APPEAL FILED BY THE ASSESSEE IS DIRECT ED AGAINST THE ORDER DATED 07.05.2018 PASSED BY THE COMMISSIONER O F INCOME TAX (APPEALS), GANDHINAGAR, AHMEDABAD ARISING OUT OF TH E ORDER DATED 29.12.2017 PASSED BY THE ITO, MEHSANA WARD-5, KADI UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REF ERRED AS TO THE ACT) FOR ASSESSMENT YEAR 2015-16. 2. ADDITION OF RS. 12,31,851/- ON ACCOUNT OF UNEXPL AINED INVESTMENT IN SHARES HAS BEEN CHALLENGED BEFORE US. ITA NO.1799/AHD/2018 CHANDULAL AMBALAL PATEL VS. ITO ASST.YEAR 2015-16 - 2 - THE ASSESSEE, IS RETIRED EMPLOYEE OF PRAMUKH SWAMI SCIENCE & H. D. PATEL ARTS COLLEGE, KADI EXECUTED SHARE TRANSACT IONS THROUGH THE BROKER NAMELY SHAREKHAN LIMITED. THE ASSESSEE INCU RRED LOSS OF RS. 12,31,851/- ON SALE OF SHARES AND PAID RS. 2,30,000 /- AS PER BANK STATEMENT. THE ENTIRE AMOUNT OF 12,31,851/- WAS AD DED TO THE TOTAL INCOME OF THE ASSESSEE IN THE ABSENCE OF ANY DOCUME NTARY EVIDENCES FURNISHED BY HIM TO SUBSTANTIATE THE TRANSACTION EN TERED INTO BY HIM IN RESPECT OF SALE OF SHARES. 3. THE ASSESSEE MADE AN APPLICATION FOR CONSIDERATI ON OF ADDITIONAL EVIDENCE FILED BEFORE US. THE PLEA OF THE ASSESSEE IS THIS THAT THOSE DOCUMENTS COULD NOT BE PROVIDED TO THE REVENUE BY H IM AS THOSE WERE NOT AVAILABLE. HOWEVER, THE SAME HAVE BEEN PROVIDE D BY THE BROKER NAMELY SHAREKHAN AS PER ADVICE OF HIS LD. C.A. 4. WE HAVE HEARD THE RESPECTIVE PARTIES AND WE HAVE ALSO PERUSED THE RECORDS INCLUDING THE ADDITIONAL EVIDENCE FILED BEF ORE US. 5. THE PLEA TAKEN BY THE ASSESSEE FOR NOT PROVIDING THOSE DOCUMENTS BEFORE THE REVENUE SEEMS TO BE GENUINE. IT FURTHER APPEARS THAT THOSE DOCUMENTS PLAYS AN IMPORTANT ROLE IN ADJUDICATING T HE MATTER IN ITS PROPER PERSPECTIVE. IN THAT VIEW OF THE MATTER WE FIND IT FIT AND PROPER TO REMIT THE ISSUE TO THE FILE OF THE LD. AO TO ADJUDICATE T HE ISSUE UPON TAKING INTO CONSIDERATION THOSE ADDITIONAL DOCUMENTS AS FILED B EFORE US AND ALSO ANY OTHER DOCUMENT WHICH THE ASSESSEE MAY CHOOSE TO FIL E AT THE TIME OF HEARING OF THE MATTER. IT IS FURTHER DIRECTED THAT THE LD. AO SHOULD GIVE ITA NO.1799/AHD/2018 CHANDULAL AMBALAL PATEL VS. ITO ASST.YEAR 2015-16 - 3 - AN OPPORTUNITY OF BEING HEARD TO THE ASSESSEE WHILE CONSIDERING THE MATTER AFRESH. 6. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. THIS ORDER PRONOUNCED IN OPEN COURT ON 23 / 0 2 /20 2 1 SD/- SD/- SSDD/- SD/- (WASEEM AHMED) (MS. MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 23/02/2021 TRUE COPY TANMAY, SR. PS TRUE COPY / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A)- 5. , ! ' , #$%% / DR, ITAT, AHMEDABAD 6. &' () / GUARD FILE. / BY ORDER, / (DY./ASSTT. REGISTRAR) !, #$ / ITAT, AHMEDABAD