Dy.CIT,Cen.Cir.Aurangabad, Aurangabad V. Shri Vivek S.Deshpande, Aurangabad

ITA 267/PUN/2011

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 9913 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 20-09-2012
• Assessment Year: 2004-2005
• Appeal Filed On: 15-03-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K SINGH
• Assessee Lawyers: ARVIND SONDE; S A MUKADAM

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI R.K. PANDA, AM ITA NO. 266 AND 267/PN/2011 (ASSESSMENT YEAR: 2003-04 AND 2004-05) DY. CIT CENT.CIR. AURANGABAD .. APPELLANT VS. SHRI VIVEK S. DESHPANDE 53/54 ADITYA NAGAR, GARKHEDA, AURANGABAD PAN ADUPP 4028 B RESPONDENT APPELLANT BY: SHRI S.K. SINGH RESPONDENT BY: S/SHRI ARVIND SONDE/ AND S.A. MUKADAM DATE OF HEARING: 11-10-2012 DATE OF PRONOUNCEMENT: 30-10-2012 ORDER PER SHAILENDRA KUMAR YADAV, JM THESE APPEALS RELATE TO THE SAME ASSESSEE RAISING COMMON ISSUE. THEY WERE THEREFORE, HEARD TOGETHER AND ARE BEING DISPOSED OFF BY THIS CONSOLIDATED ORD ER FOR THE SAKE OF CONVENIENCE. BOTH THESE APPEALS BY THE REVENUE ARE DIRECTED AGAINST CONSOLIDATED ORDER OF THE CIT(A)-AURANGABAD DATED 21-12-2010 FOR A.Y. 2003-04 AND 2004-05 DELETING THE ADDITION MADE BY THE ASSESSING OFFICER ON ACCOUNT OF PEAK AMOUNT OF MONE Y TOWARDS UNDISCLOSED INVESTMENT IN M/S. RUDRANEE CONSTRUCTION CO. 2. AT THE OUTSET OF HEARING, LEARNED COUNSEL FOR TH E ASSESSEE SUBMITTED THAT SIMILAR ISSUE HAD COME UP F OR CONSIDERATION BEFORE THIS BENCH OF THE TRIBUNAL IN THE CASE OF OTHER PARTNER SHRI ARUN V. DESHPNDE IN ITA NO. 616 TO 618/PN/2010 FOR A.YU. 2003-04 TO 2005- 2 ITA NO 266 & 267/PN/11 VIVEK S DESHPANDE A.Y. 2003-04 AND 2004-05 06, WHEREIN THE ORDER OF THE CIT(A) HAS BEEN CONFIRMED. FACTS BEING SIMILAR, SO FOLLOWING THE S AME, IN THE PRESENT ALSO, WE DO NOT FIND ANY INFIRMITY I N THE ORDERS OF THE CIT(A) WHO HAS DELETED THE ADDITION M ADE BY THE ASSESSING OFFICER ON ACCOUNT OF PEAK AMOUNT OF MONEY TOWARDS UNDISCLOSED INVESTMENT FOR THE YEARS UNDER CONSIDERATION. 3. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. DECISION PRONOUNCED IN THE OPEN COURT ON 30 TH OCTOBER 2012. SD/- SD/- (R.K. PANDA) (SHAILENDRA KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER PUNE, DATED: 30 TH OCTOBER 2012 ANKAM COPY TO:- 1. ASSESSEE 2. DEPARTMENT 3. THE CIT (A) II PUNE 4. THE CIT II PUNE 5. THE D.R. B BENCH, I.T.A.T., PUNE. BY ORDER //TRUE COPY// SR. P.S. I.T.A.T., PUNE