Sai Priyanaka Housing Projects Private Limited, Rajahmundry V. Income Tax Officer, Ward-2(2), , Rajahmundry

ITA 268/VIZ/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 5240 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 8 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-02-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 04-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K SONAWAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO , HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH , HONBLE ACCOUNTANT MEMBER ITA NO. 268 / VIZ /201 8 (ASST. YEAR : 20 11 - 12 ) M/S. SAI PRIYANKA HOUSING PROJECTS (P) LTD., D.NO. 28 - 9 - 68/4, MUNICIPAL SHOPPING COMPLEX, JAMPETA, RAJAHMUNDRY V S . IT O , WARD - 2 ( 2 ), RAJAHMUNDRY . PAN NO. AAJCS 9389 N (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI G.V.N. HARI ADV OCATE . DEPARTMENT BY : SHRI D.K. SONAWAL CIT DR DATE OF HEARING : 29 / 0 1 /201 9 . DATE OF PRONOUNCEMENT : 06 / 0 2 /201 9 . O R D E R PER V. DURGA RAO, JUDICIAL MEMBER TH IS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) , RAJAHMUNDRY , DATED 22 /0 3 /201 8 FOR THE ASSESSMENT YEAR 20 11 - 12 . 2. THE ONLY ISSUE INVOLVED IN THIS APPEAL RELATES TO LOAN TAKEN BY THE ASSESSEE FROM SMT. R. RADHA OF RS. 5.00 LAKHS. 3 . IN THE COURSE OF ASSESSMENT PROCEEDINGS, T HE ASSESSEE HAS NOT FILED THE DETAILS OF LOAN TAKEN BEFORE THE ASSESSING OFFICER . ON 2 ITA NO. 268 /VIZ/2018 ( M/S. SAI PRIYANKA HOUSING PROJECTS (P) LTD. ) APPEAL BEFORE THE LD. CIT(A), HE FILED ALL THE DETAILS, SUCH AS BANK STATEMENT, PAN CARD . A FTER PERUSING THE SAME, LD. CIT(A) HAS EXPRESSED HIS OPINION THAT PRIMA - FACIE THE CREDIT TRANSACTION CAN BE TAKEN AS PROVED . H OWEVER, THE DETAILS WERE NOT FILED BEFORE THE ASSESSING OFFICER , T HE MATTER HAS BEEN REMITTED BACK TO THE ASSESSING OFFICER FOR LI MITED PURPOSE TO EXAMINE THE DETAILS AND PASS THE ORDERS IN ACCORDANCE WITH LAW. IN PURSUANCE TO THE ORDER PASSED BY THE LD. CIT(A), THE ASSESSING OFFICER HAS PASSED A CONSEQUENTIAL ORDER BY ISSUING A LETTER DATED 06/04/ 2016 AND DIRECTED THE ASSESSEE TO FILE THE BANK STATEMENTS AND PAN CARDS ON OR BEFORE 21/04/2016. AS THE ASSESSEE FAILED TO FILE THE DETAILS , THE ASSESSING OFFICER CONFIRMED THE ADDITION. 4 . ON APPEAL BEFORE THE LD. CIT(A) , ASSESSEE HAS FILED BANK STATEMENT IN RESPECT OF AMOUNT OF RS. 5.00 LAKHS BORROWED FROM SMT. R. RADHA . H OWEVER, THE LD. CIT(A) IS OF THE OPINION THAT THOUGH THE ASSESSING OFFICER HAS GIVEN SUFFICIENT OPPORTUNITY TO FILE THE DETAILS , THE ASSESSEE HAS NOT UTILIZED THE SAME AND ONLY FILED A LETTER DATED 19/05/2016, THE RE FORE, HE CONFIRMED THE OR D ER OF THE ASSESSING OFFICER. 5. ON APPEAL BEFORE US, LD. COUNSEL FOR THE ASSESSEE HAS SUBMITTED THAT THE TIME GIVEN BY THE ASSESSING OFFICER IS VERY SHORT PERIOD I.E. 15 DAYS, THEREFORE, ASSESSEE COULD NOT FILE THE 3 ITA NO. 268 /VIZ/2018 ( M/S. SAI PRIYANKA HOUSING PROJECTS (P) LTD. ) DETAILS , BUT FILED THE SAME VIDE LETTER DATED 19/05/2016 , BY THE TIME THE ASSESSING OFFICER HAS ALREADY PASSED THE ASSESSMENT ORDER. THEREFORE, SUBMITTED THAT THE LD. CIT(A) OUGHT TO HAVE BEEN CONSIDERED THE BANK STATEMENT FILED BY THE ASSESSEE WHICH IS POINTED OUT F ROM THE PAPER BOOK AT PAGE NO. 7 AND SUBMITTED THAT THE SAME MAY BE CONSIDERED AND ADDITION MAY BE DELETED. 6 . ON THE OTHER HAND, LD. DEPARTMENTAL REPRESENTATIVE STRONGLY SUPPORTED THE ORDERS PASSED BY THE AUTHORITIES BELOW. 7 . WE HAVE HEARD BOTH THE SIDES, PERUSED THE MATERIAL AVAILABLE ON RECORD AND ORDERS OF THE AUTHORITIES BELOW. 8 . THE ADDITION MADE BY THE ASSESSING OFFICER IS IN CONSEQUENCE TO THE ORDER PASSED BY THE LD. CIT(A) IN RESPECT OF RS. 5.00 LAKHS RECEIVED FROM SMT. R. RADHA. THE ASSES SING OFFICER HAS ISSUED A NOTICE , DATED 06/04/2016 TO THE ASSESSEE TO APPEAR ON OR BEFORE 21/04/2016. THE TIME GIVEN BY THE ASSESSING OFFICER IS ONLY 15 DAYS AND THEREFORE, THE ASSESSEE IS NOT ABLE TO FILE THE BANK STATEMENT BEFORE THE ASSESSING OFFICER, HOWEVER, H E HA S FILED THE SAME ON 19/05/2016 , BY THE TIME THE ASSESSING OFFICER COMPLETED THE CONSEQUENTIAL ORDER ON 03/05/2016 . ON APPEAL BEFORE THE LD. CIT(A) , ASSESSEE HAS FILED A BANK STATEMENT, HOWEVER, THE LD. CIT(A) HAS NOT CONSIDERED THE SAME ON THE GROUND THAT THE ASSESSING OFFICER HAS GIVEN SUFFICIENT TIME, WHICH 4 ITA NO. 268 /VIZ/2018 ( M/S. SAI PRIYANKA HOUSING PROJECTS (P) LTD. ) WAS NOT UTILIZED BY THE ASSESSEE, THEREFORE, HE CONFIRMED THE ORDER OF THE ASSESSING OFFICE R. WE FIND FROM THE PAPER BOOK AT PAGE NO. 7 THAT THE AMOUNT RECEIVED BY THE ASSESSEE OF RS. 5.00 LAKHS FROM SMT. R. RADHA THROUGH RTGS ON 30/03/2011, THEREFORE, BY CONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN THE INTEREST OF JUSTICE, THE IS SUE HAS TO BE REMITTED BACK TO THE ASSESSING OFFICER TO CONSIDER THE BANK STATEMENT FILED AT PAGE NO.7 IN THE PAPER BOOK. THEREFORE, WE SET ASIDE THE ORDER PASSED BY THE LD. CIT(A) AND REMIT THE MATTER BACK TO THE ASSESSING OFFICER TO CONSIDER THE BANK ST ATEMENT AND PASS AN ORDER IN ACCORDANCE WITH LAW. THUS, THIS APPE A L FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. 9. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN OPEN COURT ON TH IS 0 6 T H DAY OF FEB . , 201 9 . S D / - S D / - ( D.S. SUNDER SINGH ) ( V. DURGA RAO ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 0 6 T H FEB . , 201 9 . VR/ - 5 ITA NO. 268 /VIZ/2018 ( M/S. SAI PRIYANKA HOUSING PROJECTS (P) LTD. ) COPY TO: 1. THE ASSESSEE - M/S. SAI PRIYANKA HOUSING PROJECTS (P) LTD., D.NO. 28 - 9 - 68/4, MUNICIPAL SHOPPING COMPLEX, JAMPETA, RAJAHMUNDRY 2. THE REVENUE ITO, WARD - 2(2), RAJAHMUNDRY. 3. THE PR. CIT , RAJAHMUNDRY. 4. THE CIT(A) , RAJAHMUNDRY. 5. THE D.R . , VISAKHAPATNAM. 6. GUARD FILE. BY ORDER (VUKKEM RAMBABU) SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.