Ram Sanwar Gupta, Howrah V. DCIT, Circle-47, Kolkata, Kolkata

ITA 2110/KOL/2014

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 3131 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-02-2016
• Appeal Filed By: Assessee
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 17-11-2014
• Court: TRIBUNAL
• Department Lawyers: DAVID Z CHAWNGTHU
• Assessee Lawyers: ARYA DAS
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH: K OLKATA [BEFORE SHRI MAHAVIR SINGH, JM] I.T.A NO.2110/KOL/2014 ASSESSMENT YEAR: 2008-09 RAM SANWAR GUPTA VS. DEPUTY COMMISSIONER OF IN COME-TAX, (PAN: AIAPG1700D) CIRCLE-47, KOLKATA. ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 01.02.2016 DATE OF PRONOUNCEMENT: 10.02.2016 FOR THE APPELLANT: SHRI ARYA DAS, ADVOCATE FOR THE RESPONDENT: SHRI DAVID Z CHAWNGTHU, ADDL . CIT ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY ASSESSEE IS ARISING OUT OF ORDER OF CIT(A)-XXX, KOLKATA VIDE APPEAL NO. 165/CIT(A)-XXX/CIR-47/2010-11 DATED 25.07.2014. ASS ESSMENT WAS FRAMED BY ACIT, CIRCLE- 47, KOLKATA U/S. 143(3) OF THE INCOME-TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEAR 2008-09 VIDE HIS ORDER DATED 30.11. 2010. 2. THE ONLY ISSUE IN THIS APPEAL OF ASSESSEE IS AG AINST THE ORDER OF CIT(A) CONFIRMING THE ACTION OF AO IN MAKING ADDITION OF CASH DEPOSIT OF RS.1.90 LACS IN THE BANK. 3. I HAVE HEARD RIVAL SUBMISSIONS AND GONE THROUGH THE FACTS AND CIRCUMSTANCES OF THE CASE. I FIND THAT DURING THE COURSE OF SURVEY THE REVENUE FOUND THAT THE ASSESSEE HAS DEPOSITED A SUM OF RS.1.90 LACS IN THE BANK ON 09.04.2007 BUT IT WAS N OT REFLECTED IN THE BOOKS OF ACCOUNT OF THE ASSESSEE. THE AO MADE ADDITION AND CIT(A) CONFIRME D THE SAME. BEFORE ME, LD. COUNSEL FOR THE ASSESSEE EXPLAINED THAT IN THE BALANCE SHEET AS ON 31.03.2007 THERE IS A CASH IN HAND AVAILABLE WITH THE ASSESSEE AMOUNTING TO RS.2,10,51 7/- AND OUT OF THIS CASH IN HAND THE ASSESSEE DEPOSITED THIS SUM I.E. RS.1.90 LACS ON 09.04.2007. THE LD. COUNSEL FOR THE ASSESSEE IN ITS PAPER BOOK CONSISTS OF PAGES 1 TO 52 HAS ENCLOSED THIS BA LANCE SHEET AT PAGE 6, WHICH CLEARLY REFLECTS THAT THIS CASH IN HAND IS AVAILABLE. ONCE THIS IS THE POSITION, THE ASSESSEE IS ABLE TO EXPLAIN THE CASH AVAILABLE WITH HIM, WHICH WAS DEPOSITED IN ASS ESSEES BANK ACCOUNT IN THE IMMEDIATE NEXT 2 ITA NO.2110/KOL/2014 RAM SANWAR GUPTA, AY 2008-09 2 YEAR I.E. ON 09.04.2007 AND IT PROVES THAT THE IMME DIATE SOURCE OF CASH IS AVAILABLE WITH THE ASSESSEE. ACCORDINGLY, I DELETE THE ADDITION AND A LLOW THE APPEAL OF ASSESSEE. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 10.02.2016. SD/- (MAHAVIR SINGH) JUDICIAL MEMBER DATED : 10TH FEBRUARY, 2016 JD. SR. P.S COPY OF THE ORDER FORWARDED TO: 1. APPELLANT SHRI RAM SANWAR GUPTA, 129, BELILIOUS R OAD, HOW4RAH-711101 2. RESPONDENT DCIT, CIRCLE-47, KOLKATA. . 3. CIT(A) , KOLKATA 4. CIT , KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .