Mina H.Patel, Ahmedabad V. The Income tax Officer,Ward-14(1), Ahmedabad

ITA 1967/AHD/2012

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 50842 (ITAT-AHMEDABAD)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 03-09-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: Y P VERMA
• Assessee Lawyers: P D SHAH
• Keywords: Unexplained cash credit; Reassessment proceedings
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD B BENCH BEFORE: SHRI D.K. TYAGI, JUDICIAL MEMBER AND SHRI T.R. MEENA, ACCOUNTANT MEMBER I.T.A. NO.1967/AHD/2012 A.Y. 2004-05 MINA H. PATEL, MEHTA LODHA & CO. CHARTERED ACCOUNTANTS, 105, SAKAR-1, ASHRAM ROAD, AHMEDABAD-380 009 PAN-ACCPP3736G APPELLANT VS. THE INCOME TAX OFFICER WARD14(1) AHMEDABAD RESPONDENT DEPARTMENT BY : SHRI Y.P. VERMA, SR. D.R. ASSESSEE BY : SHRI P.D. SHAH, A.R. DATE OF HEARING : 30.10.2012 DATE OF PRONOUNCEMENT : 30.10.2012 / ORDER PER : D.K. TYAGI, JUDICIAL MEMBER THIS IS ASSESSEES APPEAL AGAINST THE ORDER OF LD. CIT(A)-XXI, AHMEDABAD DATED 30.07.2012. 2. ASSESSEE HAS TAKEN FOLLOWING GROUNDS OF APPEAL:- 1.THAT THE REASSESSMENT PROCEEDING IS WITHOUT JURI SDICTION AND THUS BAD IN LAW AND THEREFORE THE LD. A.O. SHOULD B E DIRECTED TO ACCEPT THE RETURN INCOME. 2. THAT THE LD. CIT(A) HAS ERRED IN LAW AND FACTS B Y MAKING ADDITION OF CASH DEPOSITS OF RS.4,22,500/- IN BANK ACCOUNTS AS UNEXPLAINED CASH CREDIT U/S 68 AND THEREFORE, THE A.O. SHOULD B E DIRECTED TO DELETE THE SAME IN FULL WHILE COMPUTING TOTAL INCOM E. I.T.A. NO.1967/AHD/2012 A.Y. 2004-05 2 3. AT THE TIME OF HEARING BOTH THE PARTIES AGREED T HAT SINCE THE GROUND ABOUT REASSESSMENT PROCEEDINGS INITIATED BY THE A.O . IN THIS CASE HAS BEEN TAKEN FOR THE FIRST TIME BEFORE US AND THE SAME WAS NOT BEFORE LD. CIT(A), THE MATTER REQUIRED TO BE SENT BACK TO THE FILE OF LD. CIT(A) TO FIRST ADJUDICATE THIS GROUND AND IF REQUIRED TO ADJUDICATE OTHER GROUND T AKEN BY THE ASSESSEE. WE HOLD ACCORDINGLY. 4. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON 30.10.2012 SD/- SD/- (T.R. MEENA) (D.K. TYAGI) ACCOUNTANT MEMBER JUDICIAL MEMBER TRUE COPY N.K. CHAUDHARY, SR. P.S. COPY OF THE ORDER FORWARDED TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE LD. CIT (APPEALS) 5. THE DR, AHMEDABAD 6. THE GUARD FILE BY ORDER AR,ITAT,AHMEDABAD