Manik Bapu Kamble, Kolhapur V. Income-tax Officer, Ward - 2, Ichalkaranji

ITA 181/PUN/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 7511 (ITAT-PUNE)
• Duration Of Justice: 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 30-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ARISES OUT OF PASSED

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT . / ITA NO.181/PUN/2019 / ASSESSMENT YEAR : 2008-09 MANIK BAPU KAMBLE, AT POST SAJANI, TAL. HATKALANGLE, DIST. KOLHAPUR 416 116 PAN : CKXPK9091C VS. ITO, WARD-2, ICHALKARANJI (APPELLANT) (RESPONDENT) / ORDER PER R.S.SYAL, VP : THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER PASSE D BY THE CIT(A)-2, KOLHAPUR ON 13-04-2016 IN RELATION TO THE ASSESSMENT YEAR 2008-09. 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAINST THE CONFIRMATION OF ADDITION OF RS.3,63,504/-, BEING, UNEXPLAINE D INVESTMENT MADE IN PURCHASE OF A PIECE OF LAND. 3. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT THE ASSESSIN G OFFICER (AO) GOT INFORMATION ABOUT THE ASSESSEE HAVING APPELLANT BY SHRI MANIK BAPU KAMBLE -ASSESSEE RESPONDENT BY SHRI RAJESH GAWALI DATE OF HEARING 30-04-2019 DATE OF PRONOUNCEMENT 30-04-2019 ITA NO.181/PUN/2019 MANIK BAPU KAMBLE 2 PURCHASED A PLOT OF LAND FOR A SUM OF RS.3,87,000/- ON WHICH REGISTRATION CHARGES AND STAMP DUTY ETC. WERE INCURRED MAK ING TOTAL INVESTMENT AT RS.4,10,660/-. ON BEING CALLED UPON TO FURNISH THE SOURCE OF INVESTMENT, THE ASSESSEE SUBMITTED TH AT HE WAS WORKING AS A PEON IN SHRI SWAMI VIVEKANAND SHIKSHAN SANSTHA, VIVEKANAND COLLEGE, KOLHAPUR AND HIS TAKE-HOME SALARY FOR THE YEAR WAS RS.47,156/- HE FURTHER SUBMITTE D THAT THE PURCHASE OF PLOT WAS MADE BY UTILIZING HIS PAST SAVINGS FROM SALARY, SALE OF GOLD AND RAISING OF HAND-LOANS FROM HIS R ELATIVES ETC. NOT CONVINCED WITH THE ASSESSEES SUBMISSION, THE AO MADE AN ADDITION OF RS.3,63,504/- AFTER ALLOWING DEDUCTION O F RS.47,156/-, BEING, TAKE-HOME SALARY FOR THE YEAR FROM THE TOTAL AMOUNT SPENT ON PURCHASE OF PLOT OF LAND. THE LD. CIT(A ) CONFIRMED THE ADDITION. 4. HAVING HEARD BOTH THE SIDES AND GONE THROUGH THE RELEVA NT MATERIAL ON RECORD, IT IS SEEN THAT THE ASSESSEE IS A PEON WO RKING IN A COLLEGE AT A MEAGER SALARY OF AROUND RS.4,000/- PER MONTH. HE MADE PURCHASE OF A PLOT FOR A SUM OF RS.4,10,660/- INCLUDING STAMP DUTY. IN ORDER TO FINANCE SUCH A PLOT, HE UTILIZED H IS PAST SAVINGS FROM SALARY FOR EARLIER YEARS. HE SOLD CERTAIN G OLD JEWELLERY AND ALSO RAISED CERTAIN LOANS. THE AO HAS REJECTE D THE ITA NO.181/PUN/2019 MANIK BAPU KAMBLE 3 EXPLANATION OF THE ASSESSEE WITHOUT ASSIGNING ANY REASONS. CONSIDERING THE ENTIRETY OF THE FACTS AND CIRCUMSTANCES OF TH E INSTANT CASE, I FIND THAT THE ASSESSEE HAS SUCCESSFULLY TENDE RED EXPLANATION ABOUT THE SOURCE OF INVESTMENT IN THE PURCHASE OF PLOT. OVERTURNING THE IMPUGNED ORDER, I ORDER TO DELETE THE ADDITION OF RS.3,63,504/-. 5. IN THE RESULT, THE APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 30 TH APRIL, 2019. SD/- (R.S.SYAL) / VICE PRESIDENT PUNE; DATED : 30 TH APRIL, 2019 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. ( ) / THE CIT (APPEALS)-2, KOLHAPUR 4. THE PR. CIT-2, KOLHAPUR 5. , , SMC / DR SMC, ITAT, PUNE; 6. / GUARD FILE. // TRUE COPY // / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE ITA NO.181/PUN/2019 MANIK BAPU KAMBLE 4 DATE 1. DRAFT DICTATED ON 30-04-2019 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 30-04-2019 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *