Shri Hasmukhbhai C.Patel, Ahmedabad V. The ACIT.,Circle-9, Ahmedabad

ITA 2377/AHD/2008

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 0249 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 1 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-08-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 28-07-2010
• Assessment Year: 2004-2005
• Appeal Filed On: 24-06-2008
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: PF JAIN
• Keywords: Unexplained cash credit; Opportunity of being heard
• Section: 271(1)(c)

Judgement Text

- 1 - IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH B AHMEDABAD BEFORE S/SHRI MUKUL KR. SHRAWAT, JM AND D.C.AGRAWAL , AM SHRI HASMUKHBHAI C. PATEL, PROP. OF HARSHA ROADLINES, 111, ATMARAM PARK CO-OP. SOC. NARMADANAGAR PART I, RANIP, AHMEDABAD. VS. ASSTT. CIT, CIRCLE-9, AHMEDABAD. (APPELLANT) .. (RESPONDENT) ASSESSEE BY :- SHRI P. F. JAIN, AR REVENUEBY:- SHRI K. MADHUSUDAN, SR.DR O R D E R PER D. C. AGRAWAL, ACCOUNTANT MEMBER . THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST CO NFIRMATION OF PENALTY UNDER SECTION 271(1)(C) IN RESPECT OF ADDIT ION OF RS.13,26,668/- BY LD. CIT(A) AS UNEXPLAINED CASH CREDITS. 2. WE HAVE HEARD THE PARTIES AND CAREFULLY PERUSED THE MATERIAL ON RECORD. THE ASSESSEE HAD FILED APPEAL AGAINST SUSTA INING ADDITION OF RS.13,26,668/- WHICH VIDE OUR ORDER OF EVEN DATE HA S BEEN PARTLY RESTORED TO THE FILE OF LD. CIT(A) FOR DECIDING AFRESH. THE LD. CIT(A) IS DIRECTED TO EXAMINE THE GENUINENESS OF THE CREDITS AFRESH IN RE SPECT OF FIVE PERSONS AS PER ANNEXURE-B SUBMITTED BY THE ASSESSEE ALONG WITH THE RETURN OF INCOME. SINCE THE QUANTUM ADDITION IS NOT FINAL IT WILL BE PRE-MATURE TO CONSIDER THE LEVY OF PENALTY. WE ACCORDINGLY RESTOR E THE APPEAL IN RESPECT OF PENALTY ALSO TO THE FILE OF LD. CIT(A) TO DECIDE AFRESH AFTER THE DISPOSAL ITA NO.2377/AHD/2008 ASST. YEAR :2004-05 2 OF APPEAL ON QUANTUM ADDITION AS PER DIRECTION OF T HE TRIBUNAL. THE ASSESSEE SHOULD BE GIVEN REASONABLE OPPORTUNITY OF BEING HEARD. 3. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER WAS PRONOUNCED IN OPEN COURT ON 13/8/2010 SD/- SD/- (MUKUL KR. SHRAWAT) (D.C.AGRAWAL) JUDICIAL MEMBER ACCOUNTANT ME MBER AHMEDABAD, DATED : 13/8/2010 MAHATA/- COPY OF THE ORDER FORWARDED TO :- 1. THE ASSESSEE. 2. THE REVENUE. 3. THE CIT(APPEALS)- 4. THE CIT CONCERNS. 5. THE DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER, DEPUTY / ASSTT.REGISTRAR ITAT, AHMEDABAD