Avinash Tiwary, Kaimur V. DCIT, Circle-3, Gaya

ITA 201/PAT/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 6280 (ITAT-PATNA)
• Duration Of Justice: 2 year(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-09-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2001-2002
• Appeal Filed On: 17-08-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: AJAY KUMAR CITSRDR
• Assessee Lawyers: K N PRASAD
• Keywords: Unexplained investment
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PATNA BENCH E COURT AT KOLKATA BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR.A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 2 01 & 2 02 / PAT / 2018 ASSESSMENT YEARS :2001-02 & 2002-03 AVINASH TIWARY C/O M/S GUPTESHWARAM RICE MILLS PVT. LTD., BHABHUA, DIST. KAIMUR [ PAN NO. AETPL 3445 N ] V/S . DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, GAYA /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI K.N. PRASAD, ADVOCATE /BY RESPONDENT SHRI AJAY KUMAR, ADDL. CIT-SR-DR /DATE OF HEARING 15-09-2020 /DATE OF PRONOUNCEMENT 15-09-2020 / O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THESE TWO ASSESSEES APPEALS FOR ASSESSMENT YEAR(S) 2001-02 AND 2002-03 ARISE AGAINST THE COMMISSIONER OF INCOM E TAX (APPEALS)-1 PATNAS SEPARATE ORDERS BOTH DATED 14.06.2018 PASSE D IN CASE NOS.239 & 240/CIT(A)-1/2006-07; RESPECTIVELY INVOLVING PROC EEDINGS 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . HEARD BOTH THE PARTIES. CASE FILE(S) PERUSED. ITA NOS.201-202/PAT/2018 A.YS.2001-02 & 2002-03 AVINASH TIWARY VS. DCIT, CIR-3,GAYA PAGE 2 2. LEARNED COUNSEL IS VERY FAIR AT THE OUTSET IN NO T PRESSING ASSESSEES IDENTICAL FORMER SUBSTANTIVE GROUND IN B OTH APPEAL(S) CHALLENGING VALIDITY OF THE IMPUGNED RE-OPENING. TH E SAME IS DISMISSED AS NOT PRESSED THEREFORE. 3. COMING TO THE ASSESSEES FORMER APPEAL ITA NO. 2 01/PAT/2018 THE LATTER ISSUE QUA CORRECTNESS OF BOTH THE LOWER AUTHORITIES ACTION T REATING A SUM OF 17,61,100/- AS UNEXPLAINED INVESTMENT IN M/S GUPTES HWARAM RICE MILLS PVT.LTD. LEARNED COUNSELS CASE IS THAT HE HAD INVESTED A SUM OF 3,15,000/- ONLY IN THE RELEVANT PREVIOUS YEAR 2000- 01 WHEREAS THE ENTIRE SUM IN THE BALANCE-SHEET OF THE SAID ENTITY HAS BEEN ADDED IN HIS HANDS. HE FAILS TO DISPUTE THAT THE ASSESSING OFFIC ER HAS FRAMED HIS BEST JUDGMENT ASSESSMENT MAKING THE IMPUGNED ADDITION. THE FACTUAL POSITION REMAINS THE SAME BEFORE THE CIT(A) AS WELL AS WHEREIN THIS CLINCHING FACT HAS NOWHERE BEEN VERIFIED. WE THEREF ORE DEEM IT APPROPRIATE TO RESTORE THE INSTANT LATTER ISSUE BAC K TO THE FILE OF ASSESSING OFFICER FOR HIS NECESSARY FACTUAL VERIFICATION AS P ER LAW WITHIN THREE EFFECTIVE OPPORTUNITIES OF HEARING. THE REVENUES V EHEMENT CONTENTION THE IMPUGNED ADDITION ALSO FOLLOW SUIT. THIS ASSESSEES FORMER APPEAL ITA NO.201/PAT/2018 IS PARTLY ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. 4. SAME ORDER TO FOLLOW IN ASSESSEES LATTER APPEAL ITA NO.202/PAT/2018 QUA THE SECOND ISSUE OF SIMILAR UNEXPLAINED INVESTMENT OF 2,09,824/-. LEARNED ASSESSING OFFICER SHALL EXAMINE THIS ENTIRE ISSUE KEEPING IN ALL THE RELEVANT EVIDENCE P RODUCED AT THE ASSESSEES BEHEST IN CONSEQUENTIAL PROCEEDINGS. ITA NOS.201-202/PAT/2018 A.YS.2001-02 & 2002-03 AVINASH TIWARY VS. DCIT, CIR-3,GAYA PAGE 3 5. THESE TWO ASSESSEE APPEAL(S) ITA NO.201 & 202/PA T/2018 ARE PARTLY ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TE RMS. A COPY OF THE INSTANT COMMON ORDER BE PLACED IN THE RESPECTIVE CA SE FILE(S) . ORDER PRONOUNCED IN OPEN COURT AT THE CLOSE OF HEAR ING ON TUESDAY 15 TH SEPTEMBER, 2020 SD/- SD/- (A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) *DKP SR.P.S. '- 15 / 09 /20 20 /KOLKATA / COPY OF ORDER FORWARDED TO:- 1. / ASSESSEE-AVINASH TIWARY C/O M/S GUPTESHWARAM RICE MILLS PVT. LTD. BHABHUA, DIST.KA IMUR 2. /REVENUE-DCIT, CIRCLE-3,GAYA 3. - / / CONCERNED CIT PATNA 4. /- / CIT (A) PATNA 5. 3 66-, - , / DR, ITAT, PATNA 6. : / GUARD FILE. BY ORDER/ , /TRUE COPY/ -,