PARAS NATH MAHTO, RAMGARH V. ITO WD-2(4), RAMGARH

ITA 242/RAN/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0615 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 13-09-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: A K MOHANTY
• Assessee Lawyers: MAHESH PRASAD SINHA
• Section: 44AD

Judgement Text

P A G E 1 | 3 IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI SMC BENCH, RANCHI BEFORE SHRI N.S SAINI, ACCOUNTANT MEMBER ITA NO. 242 / RAN /201 7 ASSESSMENT YEAR : 2013 - 14 PARAS NATH MAHTO, S/O. SADHU MAHTO, AT: CHHOTKI PONA, POST - BARKI PONA, RAMGARH VS. ITO, WARD 2(4), RAMGARH PAN/GIR NO. ARWPM 4852 H (APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY : SHRI MAHESH PRASAD SINHA, ADV REVENUE BY : SHRI A.K.MOHANTY, JCIT DATE OF HEARING : 29 / 11 / 2018 DATE OF PRONOUNCEMENT : 30 / 11 / 2018 O R D E R THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE CIT(A), HAZARIBAG , D ATED 29.6.2017 FOR THE ASSESSMENT YEAR 2013 - 14. 2. THE SOLE ISSUE INVOLVED IN THIS APPEAL IS THAT THE CIT(A) ERRED IN CONFIRMING THE ADDITION OF RS.3,32,914/ - BY TREATING THE DEPOSIT IN BANK OF RS.82,87,086/ - AS UNDISCLOSED TURNOVER OF THE ASSESSE. 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSING OFFI CER FOUND THAT THE ASSESSE HAS SHOWN INCOME OF RS.3,18,810/ - UNDER SECTION 44AD AT 8% OF THE TURNOVER OF RS.41,25,640/ - . ON PERUSAL OF BANK ITA NO. / RAN/ 2017 ASSESSMENT YEAR : P A G E 2 | 3 STATEMENT OF STATE BANK OF INDIA, RAMGARH CANTT. BRANCH, A/C. NO.11808051297, HE FOUND THAT THE ASSESSE HAS MADE TOTAL CASH DEPOSIT OF RS.82,87,086/ - . THEREFORE, HE REJECTED THE BOOK RESULTS AND ESTIMATED THE P ROFIT BY APPLYING PROFIT @ 8% ON RS.82,87,086/ - , WHICH WORKED OUT TO RS.6,62,966/ - AND ALLOWING CREDIT OF RS.3,30,052/ - FOR INCOME SHOWN IN THE RETURN OF INCOME SHOWN BY THE ASSESSE, ADDED THE DIFFERENCE OF RS.3,32,914/ - TO THE INCOME OF THE ASSESSE. 4. BEFORE ME, LD AUTHORISED REPRESENTATIVE OF THE ASSESSE SUBMITTED THAT THE DEPOSIT IN THE BANK ACCOUNT WAS MADE OUT OF PREVIOUS WITHDRAWALS MADE FROM THE SAME BANK ACCOUNT. HOWEVER, HE HAS NOT FILED ANY EVIDENCE TO SHOW FOR THE SAME. IN ABSENCE OF ANY EVIDENCE BROUGHT ON RECORD TO DEMONSTRATE THAT THE ASSESSE HAS MADE DEPOSIT IN BANK ACCOU NT OUT OF PREVIOUS WITHDRAWALS FROM THE BANK FOR MAK ING DEPOSIT IN THE BANK SUBSEQUENTLY, I FIND NO GOOD REASON TO INTERFERE WITH THE ORDER OF THE CIT(A), WHICH IS HEREBY CONFIRMED AND DISMISS THE GROUNDS OF APPEAL OF THE ASSESSE. 5. IN THE RESULT, APPEAL OF THE ASSESSE IS DISMISSED. ORDER PRONOUNCED ON 30 / 11 /2018. SD/ - ( N.S SAINI) A CCOUNTANT MEMBER ITA NO. / RAN/ 2017 ASSESSMENT YEAR : P A G E 3 | 3 RANCHI ; DATED 30 / 11 /2018 B.K.PARIDA, SPS COPY OF THE ORDER FORWARDED TO : BY ORDER SR. PVT.S ECRETARY, ITAT, RANCHI ON TOUR 1. THE APPELLANT : PARAS NATH MAHTO, S/O. SADHU MAHTO, AT: CHHOTKI PONA, POST - BARKI PONA, RAMGARH 2. THE RESPONDENT. ITO, WARD 2(4), RAMGARH 3. THE CIT(A) - HAZARIBAG 4. PR.CIT - HAZARIBAG 5. DR, ITAT, RANCHI 6. GUARD FILE. //TRUE COPY//