THE ITO, WARD - 2(3), Vijayawada V. Sri Vijayanagaram Srinivasarao, Vijayawada

ITA 222/VIZ/2013

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 9023 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 4 year(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-04-2017
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 26-09-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 03-04-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T SATYANDHAM
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM SMC BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO , HONBLE JUDICIAL MEMBER ITA NO. 222 / VIZ /201 3 (ASST. YEAR : 20 09 - 1 0 ) ITO, WARD - 2(3), VIJAYAWADA. VS. SRI VIJAYANAGARAM SRINIVASA RAO, 32 - 4 - 5, FLAT NO. 101, ROYAL RESIDENCY, ANJAMMA ST., MOGHALRAJPURAM, VIJAYAWADA. PAN NO. AARPV 7532 R (APPELLANT) (RESPONDENT) ASSESSEE BY : NONE . DEPARTMENT BY : SHRI T. SATYANDHAM SR. DR DATE OF HEARING : 10 / 0 4 /201 7 . DATE OF PRONOUNCEMENT : 12 / 04 /201 7 . O R D E R THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS), VIJAYAWADA , DATED 11 /0 1 /2013 FOR THE ASSESSMENT YEAR 2009 - 10 . 2. FACTS ARE IN BRIEF THAT THE ASSESSEE DERIVES INCOME FROM INTEREST AND PROFIT ON SALE OF OLD VEHI C LES , FILED HIS RETURN OF INCOME DECLARING TOTAL INCOME OF 2,48,230/ - . RETURN FILED BY THE ASSESSEE WAS INITIALLY PROCESSED UNDER SECTION 143(1) OF THE ACT AND CASE OF THE ASSESSEE WAS TAKEN UP FOR SCRUTINY AND ASSESSMENT WAS COMPL E TED UNDER SECTION 143(3) OF THE ACT. DURING THE COURS E OF ASSESSMENT PROCEEDINGS, THE ASSESSING OFFICER FOUND THAT THERE ARE CERTAIN DEPOSITS IN KOTAK MAHINDRA BANK , WHICH WERE DEPOSITED ON VARIOUS DATES . THE ASSESSEE 2 ITA NO. 222/VIZ/2013 (SRI VIJAYANAGARAM SRINIVASA RAO) SUBMITTED BEFORE THE ASSESSING OFFICER THAT THE ABOVE AMOUNT WAS DEPOSITED IN THE BANK ON DIFFERENT DATES WHICH ARE AMOUNTS REALIZED FROM VARIOUS PARTIES, TO WHOM HE LENT THE MONEY DURING THE PREVIOUS YEAR. THE ASSESSING OFFICER A S KED THE ASSESSEE TO FILE CONFIRMATION LETTERS FROM THE PARTIES , FROM WHOM HE RECEIVED THE AMOUNT , HOWEVER, ASSESSEE HAS NOT FILED ANY DETAILS AND CONFIRMATIONS FROM THE PARTIES. THEREFORE, ASSESSING OFFICER TREATED THE DEPOSITS MADE IN THE BANK ACCOUNT AS INCOME OF THE ASSESSEE. ACCORDINGLY, SAME IS TAXED IN THE HANDS OF THE ASSESSEE. 3. ON APPEAL, THE COMMISSIONER OF INCOME TAX (APPEALS) SIMPLY DELETED THE ADDITION MADE BY THE ASSESSING OFFICER WITHOUT THERE BEING ANY EVIDENCE OR ANY BASIS . NO DETAILS WERE AVAILABLE ON RECORD , I AM OF THE OPINION THAT THE ORDER PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) HAS TO BE REVERSED. ACCORDINGLY, I REVERSE THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) AND UPHOLD THE ORDER OF THE ASSESSING OFFICER. 4 . IN THE RESULT, APP EAL FILED BY THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON THIS 1 2 T H DAY OF APRIL , 201 7 . S D / - ( V. DURGA RAO ) JUDICIAL MEMBER DATED : 1 2 T H APRIL , 201 7 . VR/ - 3 ITA NO. 222/VIZ/2013 (SRI VIJAYANAGARAM SRINIVASA RAO) COPY TO: 1 . THE ASSES SEE - SRI VIJAYANAGARAM SRINIVASA RAO, 32 - 4 - 5, FLAT NO. 101, ROYAL RESIDENCY, ANJAMMA ST., MOGHALRAJPURAM, VIJAYAWADA. 2 . THE REVENUE - ITO, WARD - 2(3), VIJAYAWADA. 3 . THE CIT, VIJAYAWADA. 4 . THE CIT(A) , VIJAYAWADA. 5 . THE D.R . , VISAKHAPATNAM. 6 . GUARD FILE. BY ORDER