Smt. Geeta Gupta, W/o Shri Shiv Chandra Gupta, Allahabad V. DCIT, Allahabad

ITA 210/ALLD/2012

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 1255 (ITAT-ALLAHABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-09-2015
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 09-12-2013
• Assessment Year: 2006-2007
• Appeal Filed On: 28-06-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: A K PANDEY

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH ALLAHABAD BEFORE SHRI P.K. BANSAL , ACCOUNTANT MEMBER ITA NO. 2 10 /ALLD/2012 ASSESSMENT YEAR: 200 6 - 0 7 SMT. GEETA GUPTA W/O SHRI SHIV CHANDRA GUPTA, 1130 OLD KATRA, ALLAHABAD. PAN: ACJPG 926 4F VS DCIT , CENTRAL CIRCLE, ALLAHABAD . (APPELLANT) (RESPONDENT) REVENUE BY : SHRI A.K. PANDEY , D.R., ASSESSEE(S) BY : SHRI PRAVEEN GODBOLE , A.R. / DATE OF HEARING : 27 / 0 8 /2015 / DATE OF PRONOUNCEMENT: 11 / 09 /2015 ORDER PER: P.K. BANSAL ACCOUNTANT MEMBER THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF CI T(A) ALLAHABAD DATED 24 . 02 .201 2 FOR ASSESSMENT YEAR 200 6 - 0 7 . THE ASSESSEE HAS TAKEN AS MANY AS FIVE GROUNDS OF APPEAL. 2. GROUND NO. 5 IS GENERAL IN NATURE AND THEREFORE DOES NOT REQUIRE ANY ADJUDICATION. 2 3. GROUNDS NO.3 AND 4 SINCE NOT PRESSE D STAND DISM ISSED AS NOT PRESSED. 4. GROUNDS NO.1 AND 2 RELATE TO THE ONE ISSUE REGARDING ADDITION OF RS. 1,12,676/ - MADE BY THE ASSESSING OFFICER AND SUSTAINED BY THE CIT(A). 5. THE BRIEF FACTS RELATING TO THIS ADDITION ARE THAT DURING THE COURSE OF SEARCH AND SEIZ URE PROCEEDINGS , GOLD JEWELLERY WEIGHING 714.620 GMS AND SILVER JEWELLERY WEIGHING 230 GM S WERE FOUND. THE ASSESSING OFFICER S UBMITTED THAT THE JEWELLERY WAS OWNED BY ASSESSEE AND HER DAUGHTER - IN - LAW. SHE WAS MARRIED IN THE YEAR 1974. THE ASSESSING OFFICER GAVE THE CREDIT FOR 500 GM S TO BE OWNED BY THE ASSESSEE AS WELL AS HER DAUGHTER - IN - LAW AND M ADE THE ADDITION IN RESPECT OF 2 14.620 GMS JEWELLERY AS AN UNEXPLAINED @ 525/ - PER GM AMOUNTING TO RS.1,12,676/ - . 5. WHEN THE MATTER WENT BEFORE THE CIT(A), CIT(A ) CONFIRMED THE ORDER OF THE ASSESSING OFFICER. 6. HEARD THE RIVAL SUBMISSIONS AND CAREFULLY CONSIDERED THE SAME ALONG WITH THE ORDER OF THE TAX AUTHORITIES BELOW. THE ASSESSING OFFICER HAS DULY ACCEPTED THAT THE JEWELLERY BELONG ED TO 3 THE ASSESSEE AS WEL L AS HER DAUGHTER - IN - LAW . BOTH ARE THE MARRIED LADY BUT THEN ALLOWED THE CREDIT FOR 500 GMS IN THE HAND OF THE ASSESSEE AS WELL AS HER DAUGHTER - IN - LAW IGNORING THE FACT THAT AS PER THE INSTRUCTION OF THE BOARD THE MARRIED LADY CAN HOLD THE JEWELLERY 500 GM EACH. THE INSTRUCTION ISSUED BY THE BOARD, IN MY VIEW, IS EQUALLY APPLICABLE IN EXPLAINING SOURCE OF THE INVESTMENT IN THE HAND OF THE ASSESSEE WHEN UNDER INSTRUCTION 500 GM FOR EACH MARRIED LADY IS PERMISSIBLE AND IN THE CASE OF THE ASSESSEE AND HER DAUG HTER - IN - LAW TOTAL GOLD JEWELLERY WAS WORTH 7 1 4.6 2 0 GM S . I AM OF THE VIEW THAT NO ADDITION CAN BE MADE AS THE TOTAL JEWELLERY FOUND IS LESS THAN 1KG. I ACCORDINGLY SET ASIDE THE ORDER OF THE CIT(A) AND DELETE THE ADDITION OF RS.1,12,676/ - MADE BY THE ASSESS ING OFFICER. 7. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED. ORDER PRONOUNCED IN THE COURT ON THIS DAY, THE 11 TH SEPTEMBER, 2015 AT ALLAHABAD . SD/ - (P.K. BANSAL) ACCOUNTANT MEMBER DATED: 11 / 09 /201 5 PRABHAT KUMAR KESARWANI, SR.P.S. COPY FORWARDED TO: 1. APPELLANT 4 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR 5