Sri Navin Thirani, Kolkata V. I.T.O., Ward-22(1), Kolkata

ITA 214/KOL/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 2401 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-06-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 20-06-2019
• Assessment Year: 2008-2009
• Appeal Filed On: 07-02-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: S ANKAR HALDER JCIT LD
• Assessee Lawyers: HARSH BARDHAN BHARDWAJ FCA LD
• Keywords: Unexplained expenditure
• Section: 69C; 143(3); 69

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH : KOLKATA [BEFORE HONBLE SHRI S.S. GODARA, JM ] I .T . A NO. 214 /KOL/201 9 A.Y 20 08 - 09 NAVIN THIRANI V/S. I.T.O., WARD 22(1) , KOLKATA PAN: A DOPT2823M (APPELLANT) (RESPONDENT) FOR THE APPELLANT : SHRI HARSH BARDHAN BHARDWAJ, FCA, LD.AR FOR THE RESPONDENT : SHRI SANKAR HALDER, J CIT, LD. SR. DR DATE OF HEARING : 20 - 06 - 2019 DATE OF PRONOUNCEMENT: 21 - 06 - 2019 ORDER SHRI S.S. GODARA, JM : 1. THIS A SSESSEES APPEAL FOR ASSESSMENT YEAR 20 08 - 09 ARISE S AGAINST THE CIT(A) , 21 , KOLKATA S ORDER DATED 26 - 04 - 2016 PASSED IN CASE NO . 10 82/ITO, W - 54(1)/CIT(A) - 21/KOL/14 - 15 , INVOLVING PROCEEDINGS U/S 143(3) OF THE I.T ACT , 1961 (IN SHORT ACT) . HEARD BOTH THE PARTIES . CASE FILE PERUSED. 2. THE A SSESSEES TWO SUBSTANTIVE GROUND S RAISED IN THE INSTANT APPEAL CHALLENGE BOTH THE LOWER AUTHORITIES ACTION MAKING SECTION 69 AND SECTION 69C ADDITIONS OF RS.5,71,562/ - AND RS. 6 2, 546/ - IN THE NATURE OF UTILIZATION OF UNEXPLAINED CASH DEPOSITS AND UNEXPLAINED EXPENDITURE; RESPECTIVELY. 3 . LEARNED COUNSEL REPRESENTING THE ASSESSEE IS V ERY FAIR IN NOT DISPUTING THE CORRECTNESS OF BOTH THE IMPUGNED ADDITIONS IN PRINCIPLE. HIS CASE IS THAT THE ASSESSING OFFICER AND THECIT(A) HAVE ERRED IN MAKING THE IMPUGNED ADDITIONS OF UNEXPLAINED CASH DEPOSIT AND UNEXPLAINED EXPENDITURE ON HIGHER SIDE. IT IS THEREFORE VEHEMENTLY 2 ITA NO. 214 /KOL/2019 NAVIN THIRANI 2 ITA NO. 214/KOL/2019 NAVIN THIRANI CONTENDED THAT THE ASSESSEE HAD FILED SUFFICIENT EVIDENCE BEFORE THE LOWER AUTHORITIES REGARDING HIS CASH IN HAND ACCUMULATED FROM PAST SAVINGS / WITHDRAWALS AS HE IS REGULAR LY ASSESSED UNDER THE PROVISIONS OF THE ACT. LEARNED D EPARTMENTAL REPRESENTATIVE FAILS TO REBUT TH IS CLINCHING FACT . I NOTICE IN THIS BACKDROP THAT N EITHER OF THE LOWER AUTHORIT Y HAS GRANTED BENEFIT OF EARLIER WITHDRAWALS AND CASH IN HAND TO THE ASSESSEE. I DEEM IT FIT AND APPROPRIATE IN THESE FACTS AND CIRC UMSTANCES THAT A LUMP SUM AMOUNT OF ADDITION (S) @ 50% WOULD MEET ENDS OF JUSTICE. I ORDER ACCORDINGLY. THE IMPUGNED ADDITIONS ARE RESTRICTED TO THE EXTENT OF 50% IN EACH OF THE CORRESPONDING AMOUNT. 4 . TH IS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOVE TERMS . ORDER PRONOUNCED IN THE COURT ON 21 - 0 6 - 2019 SD/ - [ S.S.GODARA ] JUDICIAL MEMBER DATED : 21 - 06 - 2019 **PRADIP, SR. PS C OPY OF THE ORDER FORWARDED TO: 1 . APPELLANT/ ASSESSEE: SRI NAVIN THIRANI C/O V.N. PUROHIT & CO. CHARTERED ACCOUNTANTS, DIAMOND CHAMBERS, UNIT - III, 4 TH FL., SUITE NO.4G, 4 CHOWRINGHEE LANE, KOLKATA - 16. 2 . RESPONDENT/ DEPARTMENT: INCOME TAX OFFICER, WARD 22 ( 1 ), RA FI AHMED KIDWAI ROAD, KOLKATA - 16. 3..C.I.T (A) . - 4. C.I.T. - KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR H.O.O/D.D.O KOLKATA