Shri Vipul Pramodchandra Shah, Ahmedabad V. The Income tax Officer,Ward-14(4), Ahmedabad

ITA 1812/AHD/2009

• Counselvise Citation: [2011] 135 COUNSELVISE.COM (IT) 2126 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 7 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-01-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 24-01-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 29-05-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P D SHAH
• Section: 143(3); 234B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD AHMEDABAD B BENCH (BEFORE S/SHRI G.D. AGARWAL, VICE-PRESIDENT AND T.K. SHARMA, JUDICIAL MEMBER) ITA NO.1812/AHD/2009 [ASSTT. YEAR : 2006-2007] VIPUL PRAMODCHANDRA SHAH C/402, SAMASTH FLATS OPP: SHIVANI APARTMENTS AMBAWADI, AHMEDABAD 380 015. VS. ITO, WARD-14(4) AHMEDABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI P. D. SHAH REVENUE BY : SHRI K. MADHUSUDAN O R D E R PER G.D. AGARWAL, VICE-PRESIDENT : THIS APPEAL IS BY THE ASSESSEE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX -XX1, AHMEDABAD DATED 16.03.2009 ARISING OUT OF THE ORDER OF THE ASSESSIN G OFFICER UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961. 2. THE ONLY GROUND RAISED IN THIS APPEAL OF THE ASS ESSEE IS AGAINST THE ADDITION OF RS.15,65,000/- ON ACCOUNT OF UNEXPLAINE D INVESTMENT UNDER SECTION 69A OF THE ACT. 3. AT THE TIME OF HEARING BEFORE US, IT IS SUBMITTE D BY THE LEARNED COUNSEL THAT THE AO MADE THE ADDITION OF RS.15,65,000/- BEI NG THE DEPOSIT IN HDFC BANK ACCOUNT. THE AO FOR THE FIRST TIME, VIDE ORDE R SHEET ENTRY DATED 2-12- 2008 ASKED THE ASSESSEE TO EXPLAIN THE SOURCE OF DE POSITS OF MONEY IN THE HDFC BANK ACCOUNT. THE ASSESSEE FURNISHED THE REPL Y ON 30-12-2008 EXPLAINING THE SOURCE OF EACH AND EVERY DEPOSITS. HOWEVER, THE AO WITHOUT CONSIDERING THE ASSESSEES REPLY MADE ADDITION OF R S.15,65,500/-. IN VIEW OF THE ABOVE, EITHER THE ADDITION MADE BY THE AO MAY B E DELETED OR THE ISSUE MAY BE SET ASIDE TO THE FILE OF THE AO FOR RE-ADJUDICAT ION, AFTER CONSIDERING THE ASSESSEES EXPLANATION. ITA NO.1812/AHD/2009 -2- 4. THE LEARNED DR, ON THE OTHER HAND, STRONGLY OBJE CTED TO THE DELETION OF ADDITION AND BUT HAS NO SERIOUS OBJECTION FOR THE S ETTING ASIDE OF THE MATTER BACK TO THE FILE OF THE AO. 5. AFTER CAREFULLY CONSIDERING THE ARGUMENTS OF BOT H SIDES AND CONSIDERING THE FACTS OF THE CASE, WE DEEM IT PROPER TO SET ASI DE THE ORDERS OF THE AUTHORITIES BELOW IN RESPECT OF THE ADDITION OF RS.15,65,500/-. WE ORDER ACCORDINGLY AND RESTORE THE MATTER BACK TO THE FILE OF THE AO. WE DIRECT HIM TO ALLOW ADEQUATE OPPORTUNITY TO THE ASSESSEE TO EXPLAIN THE SOURCE O F DEPOSITS IN THE BANK ACCOUNT AND THEREAFTER RE-ADJUDICATE THE ISSUE AFTE R CONSIDERING THE ASSESSEES EXPLANATION WHICH THE ASSESSEE CLAIMED TO HAVE ALRE ADY FILED OR FURTHER EXPLANATION, IF ANY, FILED BY THE ASSESSEE. 6. THE ONLY OTHER GROUND RAISED IN THIS APPEAL IS A GAINST THE CHARGING OF INTEREST UNDER SECTION 234A, 234B AND 234C OF THE A CT. THE SAME IS CONSEQUENTIAL IN NATURE. THE AO WILL RE-COMPUTE TH E SAME IN ACCORDANCE WITH LAW AFTER FINAL DETERMINATION OF THE INCOME. 7. IN RESULT, THE ASSESSEES APPEAL IS DEEMED TO BE ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON 28 TH JANUARY, 2011. SD/- SD/- (T.K. SHARMA) JUDICIAL MEMBER (G.D. AGARWAL) VICE-PRESIDENT PLACE : AHMEDABAD DATE : 28-01-2011 COPY OF THE ORDER FORWARDED TO: 1) : APPELLANT 2) : RESPONDENT 3) : CIT(A) 4) : CIT CONCERNED 5) : DR, ITAT. BY ORDER DR/AR, ITAT, AHMEDABAD