Smt. Sumita Somany , Kolkata V. DCIT, Circle - 5(2) , Kolkata

ITA 2315/KOL/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7539 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 03-04-2019
• Assessment Year: 2013-2014
• Appeal Filed On: 09-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P K SANGHAI
• Section: 143(3)

Judgement Text

, B , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B KOLKATA BEFORE SHRI J.SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER ITA NO.2315-2316/KOL/2018 ASSESSMENT YEAR: 2013-14 SMT. SUMITA SOMANY 2, RED CROSS PLACE, KOLKATA-700001 [ PAN NO.ALMPS 0475 L ] SHRI SANDIP SOMANY 2, RED CROSS PLACE, KOLKATA-700001 [ PAN NO.AIYPS 6270 N ] / V/S . DCIT,CIRCLE-5(2), KOLKATA /APPELLANT .. /RESPONDENT /BY ASSESSEE SHRI P.K. SANGHAI, FCA ! /BY REVENUE SHRI C.J.SINGH, JCIT-SR-DR SHRI RABIN CHOUDHURY ADDL. CIT-DR /DATE OF HEARING 26-07-2019 /DATE OF PRONOUNCEMENT 26-07-2019 /O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THESE TWO ASSESSEES HAVE FILED THEIR INSTANT AS MAN Y APPEAL(S) FOR ASSESSMENT YEAR 2013-14 AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLKATAS SEPARATE ORDERS; BOTH DATED 07.08.2018 PA SSED IN CASE NO.11464- 11465CIT(A)-2/2015-16 AFFIRMING THE ASSESSING OFFIC ERS IDENTICAL ACTION MAKING UNEXPLAINED INCOME / ADDITION OF 54560 & 80,434/-; RESPECTIVELY INVOLVING PROCEEDINGS 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. ITA NO.2315-2316/KOL/2018 ASSESSMENT YEAR 2013-14 SMT. SUMITA SOMANY SHRI SANDIP SOMANY. VS DC IT, CIR-5(2), KOL. PAGE 2 2. WE HAVE HEARD BOTH THE PARTIES REITERATING THEIR RESPECTIVE STAND AGAINST AND IN SUPPORT OF THE IMPUGNED SEC. 69A UNEXPLAINED INCOME ADDITION. CASE FILE(S) / RECORD(S) PERUSED. 3. IT TRANSPIRES FROM A COMBINED PERUSAL OF BOTH TH ESE APPEALS THAT THE ASSESSEES ARE AGGRIEVED AGAINST THE LOWER AUTHORITI ES IDENTICAL ACTION TREATING THE DIFFERENTIAL AMOUNTS OF 1474.23 (US $) TO BE THEIR UNEXPLAINED INCOME. THE ASSESSING OFFICER ADDED THE SAID SUM IN ASSESSEES HANDS AFTER ALLEGING THAT THE SAME REPRESENTED BALANCE IN THEIR OVERSEAS BANK ACC OUNT IN SINGAPORE. HE WAS OF THE VIEW THAT ASSESSEES BALANCE-SHEET NOWHERE R EFLECTED THE SAID BANK ACCOUNT HAVING OPENING BALANCE 474.23, US $ 2,00,00 0/-DEPOSITED ON 14.03.2013 FOLLOWED BY TRANSFER OF 1,99,000 FOR INV ESTMENT IN M/S WASHINGTON HOLDINGS PTE LTD.. HE THEREFORE ARRIVED AT THE IMPU GNED ADDITION FIGURE IN THESE TWO ASSESSEES HANDS ON THE GROUND THAT THE SAME HA D NOT BEEN DECLARED IN THEIR RESPECTIVE BALANCE-SHEETS. HE THUS ADDED THE INVEST MENT AMOUNT HEREINABOVE AS UNEXPLAINED . THE CIT(A) HAS CONFIRMED THE SAME IN HIS LOWER APPELLATE ORDER. 4. WE HAVE GIVEN OUR THOUGHTFUL CONSIDERATION TO RI VAL CONTENTIONS. WE FIRST COME TO ASSESSING OFFICERS FIRST AND FOREMOST REAS ON THAT THE ASSESSEES HAD NOT DECLARED THE ABOVE BANK ACCOUNT IN THEIR RESPECTIVE BALANCE-SHEETS. THE BALANCE- SHEETS FORM PART OF RECORDS BEFORE US IN PAGES 14, 15 ALONGWITH THE BANK STATEMENTS AT PAGE 25 WHEREIN IT IS AMPLY CLEAR THA T THE ASSESSEES HAD TRANSFERRED THE FOREIGN CURRENCY IN ISSUE FROM THEIR DRAWEE HDF C BANK ACCOUNT TO DBS BANK, SINGAPORE FOLLOWED BY INVESTMENTS MADE IN M/S WASHINGTON HOLDINGS PTE LTD. (SUPRA). WE DO NOT SEE ANY EVIDENCE AT ALL AGAINST THE ASSESSEES WHICH COULD SUGGEST THAT THEY HAVE DERIVED ANY UNEXPLAINE D INCOME SINCE ENTIRE SUM IN ISSUE HAS COME FROM THEIR HDFC BANK ACCOUNT ONLY . THESE CLINCHING FACTS HAVE GONE UNREBUTTED FROM THE REVENUE SIDE. WE THER EFORE DELETE BOTH THE ITA NO.2315-2316/KOL/2018 ASSESSMENT YEAR 2013-14 SMT. SUMITA SOMANY SHRI SANDIP SOMANY. VS DC IT, CIR-5(2), KOL. PAGE 3 IMPUGNED ADDITIONS FORMING SUBJECT-MATTER OF THE IN STANT LIS INVOLVING THESE TWO CASES. 5. THESE TWO ASSESSEES APPEALS ARE ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 26/07/2019 SD/- SD/- ( !) () !) (J.SUDHAKAR REDDY) (S.S.GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER *DKP-SR.PS * - 27/07/2019 / KOLKATA / COPY OF ORDER FORWARDED TO:- 1. /ASSESSEE-SMT. SUMITA SOMANY-SSHRI SANDIP SOMANY, 2, RED CROSS PLACE, KOLKATA-700 001 2. ! /REVENUE-DCIT, CIR-5(2), KOLKATA 3. - . / CONCERNED CIT 4. . - / CIT (A) 5. / ))- , - /DR, ITAT, KOLKATA 6. 3 / GUARD FILE. BY ORD ER/ , /TRUE COPY/ -,