Naveena Ravulapally , Siricilla V. Income Tax Officer, Ward-1, Hyderabad

ITA 245/Hyd/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5226 (ITAT-HYDERABAD)
• Duration Of Justice: 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-02-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 02-02-2021
• Assessment Year: 2014-2015
• Appeal Filed On: 04-03-2020
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: BALA KRISHNA
• Assessee Lawyers: T CHAITANYA KUMAR
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES SMC : HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER IT A NO. 245 /H/20 20 ASSESSMENT YEAR: 20 14 - 15 NAVEENA RAVULAPALLY, SIRICILLA. PAN AXIPR 4259 B VS. INCOME - TAX OFFICER, WARD 1, KARIMNAGAR. (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI T. CHAITANYA KUMAR REVENUE BY: SHRI BALA KRISHNA DATE OF HEARING: 0 2 /0 2 /2021 DATE OF PRONOUNCEMENT: 04 /0 2 /2021 O R D E R T H IS ASSESSEE S APPEAL FOR AY 20 14 - 1 5 IS DIRECTED AGAINST THE C I T(A) - 2 I , HYDERABAD S ORDER DATED 3 0 / 10 / 201 9 PASSED IN CASE NO. 0 364 / 2016 - 17 /CIT(A) 2 , HYD, INVOLVING PROCEEDINGS U/S 1 43( 3) OF THE INCOME TAX ACT , 1961 ; IN SHORT THE ACT. H EARD BOTH THE PARTIES. CASE F ILE PERUSED. 2. THE ASSESSEES S OLE SUBSTANTIVE GR OUND RAISED IN THE INSTANT CASE CHALLENG ES CORRECTNESS OF BOTH THE LOWER I TA NO. 245 /HYD/ 2020 NAVEENA RAVULAPALLY, SIRICILLA : - 2 - : AUTH ORITIES ACTION TREATING HER CASH DEPOSITS OF RS. 8 LAKHS AS UNEXPLAINED. IT IS NOT IN DISPUTE THAT OUT OF TOTAL DEPOSITS OF RS. 18,11,000/ - MADE BY THE ASSESSEE, ONLY A SUM OF RS. 8 LAKHS HAS BEEN ADDED . TH E EXPLAINED BEFORE THE LOWER AUTHORITIES THAT TH IS RE MAINING SUM HAD BEEN DEPOSITED BY HER FATHER IN HER BANK ACCOUNT. S HE ALSO PLACED HER FATHERS AFFIDAVIT TO SUBSTANTIATE HER SUBMISSION. BOTH THE LEARNED LOWER AUTHORITIES HAVE REJECTED THE SAME. 3. I HAVE GI VEN MY THOUGHTFUL CONSIDERATION TO RIVAL SUBMISSIONS AGAINST AND IN SUPPORT OF THE IMPUGNED ADDITION. I FIND THAT BOTH THE PARTIES HAVE FAILED TO SUBSTANTIATE THEIR RESPECTIVE ARGUMENTS SUPPORTING THE IMPUGNED ADDITION OF RS. 8 LAKHS IN ENTIRETY FOR THE REASON THAT THE NEITHER ASSESSEE HAS EXPLAINED THE SOURCE OF CASH DEPOSITS BELONGING TO HER FATHER NOR THE LOWER AUTHORITIES HAVE GRANTED THE CREDIT OF WITHDRAWALS AS WELL AS CASH IN HAND. I T HEREFORE DEEM IT FIT AND PROPER IN THESE PECULIAR FACTS AND CI RCUMSTANCES OF THE CASE TO REDUCE THE IMPUGNED ADDITION OF RS. 8,00,000/ - TO RS. 4,00,000/ - ONLY IS SUSTAINED WITH A RIDER THAT THE SAME SHALL NOT BE TREATED AS I TA NO. 245 /HYD/ 2020 NAVEENA RAVULAPALLY, SIRICILLA : - 3 - : PRECEDENT. THE A SSESSEE GETS A RELIEF OF RS. 4,00,000/ - A CCORDINGLY . 4. THIS ASSESSEES APPEAL IS PARTLY ALLOWED IN TERMS ABOVE. PRONOUNCED IN THE OPEN COURT ON 4 TH FEBRUARY , 2021 SD/ - ( S.S. GODARA ) JUDICIAL MEMBER HYDE RABAD, DATED : 4 TH FEBRUARY , 20 2 1 K V C OPY TO : 1 NAVEENA RAVULAPALLY, T. CHAITANYA KUMAR, ADVOCATE, FLAT NO. 102, GOWRI APTS., URDU LANE, HIMAYATHNAGAR, HYDERABAD . 2 ITO, WARD 1, KARIMNAGAR, TELANGANA 3 C I T(A) 2 , HYDERABAD. 4 PR. CIT 2, HYDERABAD 5 ITAT, DR, HYDERABAD. 6 GUARD FILE.