Smt. Trupti Nitin Shah, Ahmedabad V. The Income tax Officer, Ward-13(4), Ahmedabad

ITA 2523/AHD/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 9641 (ITAT-AHMEDABAD)
• Duration Of Justice: 5 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-02-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 18-02-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 28-08-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: VIVEK N CHAVDA
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD SMC BENCH AHMEDABAD BEFORE SHRI GEORGE GEORGE K, JUDICIAL MEMBER ITA NO.2523/AHD/2015 ASST. YEAR: 2010-11 SMT. TRUPTI NITIN SHAH, C-5, JHANVI APARTMENT, MIRAMBIKA SCHOOL ROAD, NARANPURA, AHMEDABAD. VS. ITO, WARD 13(4), AHMEDABAD. APPELLANT RESPONDENT PAN ANKPS 6121R APPELLANT BY SHRI VIVEK N. CHAVDA, AR RESPONDENT BY SHRI KAMLESH MAKWANA, SR.DR DATE OF HEARING: 18/02/2016 DATE OF PRONOUNCEMENT: 18/02/2016 O R D E R PER GEORGE GEORGE K, JUDICIAL MEMER. THIS APPEAL IS DIRECTED AT THE INSTANCE OF ASSESSEE AGAINST THE ORDER OF CIT(A) DATED 10 TH JULY, 2015. RELEVANT ASST. YEAR IS 20010- 11. 2. SOLITARY GRIEVANCE OF ASSESSEE IN THIS APPEAL IS WHETHER THE CIT(A) IS JUSTIFIED IN UPHOLDING THE ADDITION OF RS .3,56,247/- AS UNEXPLAINED CASH DEPOSIT. ITA NO. 2523/AHD/2015 ASST. YEAR 2010-11 2 3. BRIEFLY STATED FACTS OF THE CASE ARE THAT ASSESS EE IS AN INDIVIDUAL AND DERIVES INCOME BY WAY OF SALARY, COM MISSION ETC. RETURN OF INCOME FOR THE RELEVANT ASST. YEAR WAS FI LED ON 17.5.2010 DECLARING TOTAL INCOME OF RS.2,18,400/-. DURING THE COURSE OF ASST. PROCEEDINGS, THE AO CALLED FOR EXPLANATION VIDE LET TER DATED 29.11.2012 IN RESPECT OF CASH DEPOSITS MADE IN ACCO UNT NO.9982 WITH BANK OF BARODA. THE APPELLANT FURNISHED EXPLANATION ON 31.12.2012 STATING THAT THE TOTAL CASH DEPOSITS WERE RS.19,10, 000/- OUT OF WHICH RS.1 LAC WAS MADE BY HER HUSBAND AND THERE WERE CAS H WITHDRAWALS OF RS.14,53,753/- SO THAT THE DIFFERENCE OF RS.4,56 ,247/- WAS DEPOSITED OUT OF ACCUMULATED SAVINGS OF RS.5,52,300 /-. THE AO REJECTED THIS EXPLANATION TREATING THE CASH SAVINGS AS HIGHLY IMPROBABLE AND MADE ADDITION OF RS.4,56,247/-. 3.1 BEING AGGRIEVED, THE ASSESSEE PREFERRED APPEAL BEFORE CIT(A) WHO CONFIRMED THE ADDITION OF RS..3,56,247/- AFTER TREATING CASH DEPOSIT OF RS.1 LAC MADE BY HER HUSBAND AS EXPLAINE D. 4. AGGRIEVED BY THE ADDITION SUSTAINED BY THE CIT(A ) AMOUNTING TO RS.3,56,247/- ASSESSEE IS NOW IN APPEAL BEFORE THE TRIBUNAL. 5. I HAVE CONSIDERED THE RIVAL CONTENTIONS AND PERU SED THE MATERIAL ON RECORD. THE ASSESSEE HAS FILED DETAILED PAPER BOOK COMPRISING OF PROFIT AND LOSS ACCOUNT, DETAILS OF Y EAR-WISE PROFIT, WITHDRAWALS FOR FOUR YEARS. THE ASSESSEE HAS ALSO SHOWN INCOME FROM SALE OF DRESSES AMOUNTING TO RS.1,32,420/- AND SALE OF JEWELLERY OF RS.1,90,277/-. THESE AMOUNTS THAT WERE RECEIVED WHICH ARE IN ITA NO. 2523/AHD/2015 ASST. YEAR 2010-11 3 DIRECT INCOME COULD HAVE BEEN DEPOSITED IN THE SAID BANK ACCOUNT AND, THEREFORE, I AM OF THE VIEW THAT CIT(A) IS NOT JUSTIFIED IN CONFIRMING RS.3,56,247/- AS UNEXPLAINED CASH DEPOSI T U/S 68 OF THE ACT. IN THE INTEREST OF JUSTICE, I AM OF THE OPINIO N THAT 50% OF RS.3,56,247/- IS TO BE TREATED AS EXPLAINED ON ACCO UNT OF SALE MADE BY THE ASSESSEE FOR DRESS AND JEWELLERY . BALANCE 5 0% IS SUSTAINED. I ORDER ACCORDINGLY. 6. IN THE RESULT, APPEAL IS PARTLY ALLOWED AS INDIC ATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH FEBRUARY, 2016 SD/- (GEORGE GEORGE K) JUDICIAL MEMBER DATED : 18/02/2016 MAHATA/- COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) CONCERNED 5. THE DR, ITAT, AHMEDABAD 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, AHMEDABAD ITA NO. 2523/AHD/2015 ASST. YEAR 2010-11 4 1. DATE OF DICTATION: 18/02/2016 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE T HE DICTATING MEMBER: 18/02/2016 OTHER MEMBER: 3. DATE ON WHICH APPROVED DRAFT COMES TO THE SR. P. S./P.S.: 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE TH E DICTATING MEMBER FOR PRONOUNCEMENT: __________ 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE S R. P.S./P.S.: 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK: 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK: 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER: 9. DATE OF DESPATCH OF THE ORDER: