Sh. Mahendra Kumar Agarwal, Hapur V. ITO, Hapur

ITA 2693/DEL/2015

• Counselvise Citation: 269320114 RSA 2015
• Duration Of Justice: 6 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-11-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC 2
• Next Hearing Date: 05-11-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 05-05-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GARIMA JAIN
• Assessee Lawyers: RK GARG
• Keywords: Principle of natural justice; Valuation report

Judgement Text

1 IN THE INCOME TAX APPELATE TRIBUNAL DELHI BENCH SMC-2: NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER ITA NO. 2693/DEL/2015 A.Y. : 2009-10 SH. MAHENDRA KUMAR AGARWAL, VS. ITO, WARD-1, S/O SH. T.C. AGARWAL, HAPUR BHOLA GANJ, DELHI ROAD, HAPUR C/O R.K. GARG, T-314, GANGA PLAZA, BEGUM BIRDGE ROAD, MEERUT (PAN : ACXPA4919M) (APPELLANT) (RESPONDENT) ASSESSEE BY : SH. R.K. GARG, ADV. DEPARTMENT BY : MS. GARIMA JAIN, SR. DR DATE OF HEARING : 05-11-2015 DATE OF ORDER : 06-11-2015 O R D E R THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS), GHAZIABAD PER TAINING TO ASSESSMENT YEAR 2009-10. 2. THE GROUNDS OF APPEAL READ AS UNDER:- 1. THAT UNDER THE FACTS AND CIRCUMSTANCES OF THE CASE , THE LD. CIT(A) HAS ERRED TO CONFIRM THE ADDITION OF RS. 7,80, 500/- ON ACCOUNT OF UNEXPLAINED CASH DEPOSIT IN BANK, WHICH WAS OUT OF REALIZATION OF DEBTORS IN ORDINARY COURSE OF BUSINE SS. CONFIRMATION OF ADDITION AT RS. 7,80,500/- IS THERE FORE, ARBITRARY, UNJUST, UNCALLED FOR, ILLEGAL AND IN ANY CASE HIGHLY EXCESSIVE. 2 2. THAT UNDER THE FACTS AND CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) HAS ERRED TO COMPUTE THE LONG TERM CAPITAL GA IN AT RS. 1,87,228/- AS AGAINST RS. 12,618/- DISCLOSED BY THE A PPELLANT AND THEREBY MAKING AN ADDITION OFRS. 1,74,610/-. CONF IRMATION OF ADDITION IS THEREFORE, ARBITRARY, UNJUST UNCALLE D FOR, ILLEGAL, HIGHLY EXCESSIVE AND AGAINST THE MATERIAL PLACE ON RECORD. 3. THE FACTS NARRATED BY THE REVENUE AUTHORITIES AR E NOT DISPUTED BY BOTH THE PARTIES, THEREFORE, THE SAME ARE NOT REPEATED HERE FOR THE SAKE OF CONVENIENCE. 4. DURING THE HEARING, LD. COUNSEL FOR THE ASSESSEE HAS STATED THAT ASSESSEE HAS FILED ALL THE NECESSARY DOCUMENTARY EVIDENCES BEFO RE THE AO AS WELL AS BEFORE THE LD. CIT(A) FOR SUBSTANTIATING HIS CLAIM WHICH HAS NOT BEEN PROPERLY CONSDIERED BY THE AO AS WELL AS BY THE LD. CIT(A). HE HAS FILED THE PAPER BOOK CONTAINING PAGS 1 TO 122 IN WHICH HE HAS ATTACHED THE COPY OF WRITTEN SUBMISSION DATED 23.9.2014 FILED BEFORE THE LD. CIT(A); COPY OF COMPUATION, ALON GWITH PROFIT AND LOSS ACCOUNT, TRADING ACCOUNT, BALANCE SHEET, ALONGWITH AUDIT REP ORT AS FILED BEFORE AO; COPY OF SAVING BANK ACCOUNT; COPY OF PNB ACCOUNT; COPY OF W RITTEN SUBMISSION DATED 23.12.2011, 28.12.2011 AND 29.112.2011; COPY OF FAMILY PA RTITION; REGISTERED AGREEMENT TO SALE THE PROPERTY; COPY OF MEMORANDUM OF UNDERTAKING DATED 28.10.2006; COPY OF VALUATION REPORT AS ON 31.3.2007 AND 1.4.1981; COPY OF SALE DEED EXECUTED BY ASSESSEE; COPY OF ASSESSMENT ORDER DATED 26.3.2013 FOR AY 2007-08 IN WHICH CONTENTION OF THE PROPERTY SOLD WA S ACCEPTED, ALONGWITH WRITTEN SUBMISSION DATED 14.3.2013; WRITTEN SUBMISSION DATED 18.2.2015, AS FILED BEFORE THE CIT(A); COPOY OF REMAND REPORT OF AO DATED 29.9.2 014 AND COPY OF REPLY OF REJOINDER DATED 24.12.2014, AS FILED BEFORE THE CIT(A ). HE REQUESTED THAT THE ISSUE IN DISPUTE MAY BE REMITTED TO THE FILE OF THE AO FO R FRESH CONSDIERATION AND ASSESSEE MAY BE GIVEN AN OPPORTUNITY TO CANVASS HIS CASE BEF ORE THE AO. 3 5. ON THE CONTRARY, LD. DR HAS RELIED UPON THE ORD ERS OF THE AUTHORITIES BELOW AND REQUESTED TO DISMISS THE APPEAL OF THE ASSESSE E. 6. I HAVE HEARD BOTH THE PARTIES ON THE ISSUE IN DIS PUTE AND PERUSED THE RELEVANT RECORDS, ESPECIALLY THE ORDERS PASSED BY THE REVENU E AUTHORITIES. I FIND CONSDIERABLE COGENCY IN THE ASSESSEES CONTENTION THAT THE AO AS WELL AS LD. CIT(A) HAS NOT CONSDIERED ALL THE DOUCMENTS LISTED ABOVE PROPERLY WHICH IS AGAINST THE PRINCIPLE OF NATURAL JUSTICE. IN THE INTEREST OF JUSTICE, I REMIT BACK THE ISSUES IN DISPUTE TO THE FILE OF THE AO TO CONSIDER THE SAME AFRESH, UNDER THE LAW, AFTER GIVING FULL OPPORTUNITY TO THE ASSESSEE. THE ASSESSEE IS ALSO DIRECTED TO FU LLY COOPERATE WITH THE AO AND PRODUCE ALL THE DOCUMENTS BEFORE HIM TO SUBSTANTIAT E HIS CLAIM. THE ASSESSEE IS ALSO DIRECTED NOT TO TAKE UNNECESSARY ADJOURMENT IN THE MATTER. 7. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE STANDS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 06/11/2015. SD/- [H.S. SIDHU] JUDICIAL MEMBER DATE: 06/11/2015 SRBHATNAGAR COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4.CIT (A) 5. D R, ITAT TRUE COPY BY ORDER, ASSISTANT REGISTRAR, ITAT, DELHI BENCHES