Shri Shravan Kumar Verma, Burdwan V. I.T.O Wd - 2(4),Asansol, Asansol

ITA 2209/KOL/2013

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 83090 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-09-2014
• Appeal Filed By: Assessee
• Bench Allotted: SMC
• Assessment Year: 2007-2008
• Appeal Filed On: 05-08-2013
• Court: TRIBUNAL
• Department Lawyers: DAVID Z CHAWNGTHU ADD L
• Assessee Lawyers: N O N E
• Keywords: Gift
• Section: 143(3); 68

Judgement Text

, SMC(B) , IN THE INCOME TAX APPELLATE TRIBUNAL SMC(B) BENCH : KOLKATA () BEFORE , ) [BEFORE SHRI MAHAVIR SINGH, JM] / I.T.A NO.2209/KOL/2013 !'/ ASSESSMENT YEAR: 2007-08 SHARVAN KUMAR VERMA VS. INCOME-TAX OFFICER, WD-2 (4), ASANSOL (PAN: ABJPV9849G) ($% /APPELLANT ) (&'$%/ RESPONDENT ) DATE OF HEARING: 21.08.2014 DATE OF PRONOUNCEMENT: 02.09.2014 FOR THE APPELLANT: N O N E FOR THE RESPONDENT: SHRI DAVID Z. CHAWNGTHU, ADD L. CIT, SR. DR () / ORDER THIS APPEAL BY ASSESSEE IS ARISING OUT OF ORDER OF CIT(A), ASANSOL IN APPEAL NO. 173/CIT(A)/ASL/W-2(4)/ASL/09-10 DATED 31.05.2013. ASSESSMENT WAS FRAMED BY ITO, WARD- 2(4), ASANSOL U/S. 143(3) OF THE INCOME-TAX ACT, 19 61 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEARS 2007-08 VIDE HIS ORDER DATED 21.12 .2009. 2. THE ONLY ISSUE IN THIS APPEAL OF ASSESSEE IS AGA INST THE ORDER OF CIT(A) CONFIRMING THE ADDITION OF UNEXPLAINED GIFT RECEIVED FROM MOTHER U /S. 68 OF THE ACT AT RS.50,000/-. 3. I HAVE HEARD RIVAL SUBMISSIONS AND GONE THROUGH FACTS AND CIRCUMSTANCES OF THE CASE. I FIND THAT THE ASSESSEES MOTHER IS A PENSIONER GETT ING PENSION OF RS.4100/- PER MONTH AND SHE IS ALSO WITHDRAWING THE SAME AT THE BEGINNING OF THE M ONTH. THE ASSESSEE HAS RECEIVED GIFT FROM HIS MOTHER AT RS.50,000/- IN 10 MONTHS OF THE YEAR I.E. AN AMOUNT OF RS.5000/- IN EACH OF THE MONTH. THE AO AFTER GOING THROUGH THESE FACTS, HAS NOT BELIEVED THAT THE WITHDRAWAL OF EVERY MONTH WAS GIVEN IN GIFT BY THE MOTHER OF THE ASSESS EE AND ACCORDINGLY, HE MADE ADDITION OF RS.50,000/- AS UNEXPLAINED GIFT U/S. 68 OF THE ACT. THE CIT(A) ALSO CONFIRMED THE ACTION OF THE AO BY TREATING THE GIFT AS BOGUS AS THE CREDITWORTH INESS OF THE DONOR IS ABSENT. AGGRIEVED, ASSESSEE PREFERRED APPEAL BEFORE TRIBUNAL. 4. I FIND FROM THE FACTS OF THE CASE THAT ADMITTEDL Y THE ASSESSEES MOTHER IS A PENSIONER GETTING PENSION OF RS.4100/- PER MONTH. SHE MUST B E PENSIONER FROM THE VERY BEGINNING AND WITHDRAWING THE SUM OF RS.4000/- EVERY MONTH. IT C ANNOT BE PRESUMED THAT SHE MIGHT NOT HAVE GIVEN THIS AMOUNT TO ASSESSEE. IN VIEW OF THIS, I AM OF THE VIEW THAT THE CREDITWORTHINESS OF THE 2 ITA NO.2209/K/2013 SHARVAN KUMAR VERMA AY 07-08 MOTHER IS EXPLAINED. HENCE, I HAVE NO REASONS TO D OUBT THE GIFT. ACCORDINGLY, I TREAT THE GIFT AS GENUINE AND THE APPEAL OF ASSESSEE IS ALLOWED. 5. IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED. 6. ORDER PRONOUNCED IN OPEN COURT ON 02.09.2014 SD/- , (MAHAVIR SINGH) JUDICIAL MEMBER DATED : 2ND AUGUST, 2014 *+ ,- . JD.(SR.P.S.) () / &0 1(0!2- COPY OF THE ORDER FORWARDED TO: 1 . $% / APPELLANT SHRI SHARVAN KUMAR VERMA, PROP. OF S. K . TRADING, HAWKERS CORNER, STATION ROAD, ASANSOL-1, D IST. BURDWAN. 2 &'$% / RESPONDENT ITO, WARD-2(4), ASANSOL 3 . ) ( )/ THE CIT(A), ASANSOL 4. 5. ) / CIT ASANSOL 089 & / DR, KOLKATA BENCHES, KOLKATA '0 &/ TRUE COPY, ():/ BY ORDER, - /ASSTT. REGISTRAR .