Laxmi Priya Sahoo, Bhubaneswar V. ITO, Bhubaneswar

ITA 27/CTK/2014

• Counselvise Citation: 2722114 RSA 2014
• Duration Of Justice: 6 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-07-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 22-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S C MOHANTY
• Assessee Lawyers: C R JENA

Judgement Text

1 I.T.A.NO. 27 /CTK/2014 ASSESSMENT YEAR: 2009-2010 , CUTTACK IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK ( )BEFORE . . , , HONBLE SHRI P.K.BANSAL, ACCOUNTANT MEMBER. /AND . . , HONBLE SHRI D.T.GARASIA, JUDICIAL MEMBER / I.T.A. NO. 27 /CTK/2014 / ASSESSMENT YEAR: 2009-2010 LAXMIPRIYA SAHOO, BHUBANESWAR PA NO.AVRPS 1045 F - - - VERSUS- ITO, WARD 1(2) BHUBANESWAR. ( /APPELLANT ) ( /RESPONDENT) / FOR THE APPELLANT : /SHRI C.R. JENA /FOR THE RESPONDENT: /SHRI S.C.MOHANTY / DATE OF HEARING: 1.5.2014 / DATE OF PRONOUNCEMENT: 2 7 . 6 .2014 / ORDER PER BENCH THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 25.10.2013 OF LD CIT(A)-BERHAMPUR FOR THE ASSESSMENT YEAR 2009-2010. 2 I.T.A.NO. 27 /CTK/2014 ASSESSMENT YEAR: 2009-2010 2. THE ONLY GROUND RAISED BY THE ASSESSEE RELATES TO ADDITION OF UNDISCLOSED INCOME OF RS.13,52,330/-. 3. THE SHORT FACTS OF THE CASE ARE THAT THE ASSESSEE DERIVES INCOME FROM BROKING IN REAL ESTATE. THE RETURN OF INCOME WAS FILED ON 28.7.2009 DISCLOSING THE TOTAL INCOME AT RS.2,72,400/-. DURING THE YEAR UNDER CONSIDERATION, ASSESSEE HAS DEPOSITED AN AMOUNT OF RS.18,00,000/- IN HER SAVINGS BANK ACCOUNT MAINTAINED AT ICICI BANK, BHUBANESWAR. ASSESSEE WAS ASKED TO EXPLAIN THE SOURCE OF DEPOSIT. ASSESSEE STATED THAT THE SAID AMOUNT BELONGS TO HER HUSBAND, SHRI ANAM CHARAN SAHOO. IT WAS STATED THAT AN AMOUNT OF RS.16 LAKHS WAS WITHDRAWN ON THREE OCCASIONS, I.E. ON 16.12.2008, 19.12.2008 AND 26.12.2008, WHICH WAS KEPT AT HOME. THIS AMOUNT TOGETHER WITH RS.2,00,000/- FROM THE BUSINESS CASH OF THE ASSESSEES HUSBAND WAS DEPOSITED BY THE ACCOUNTANT OF ASSESSEES HUSBAND IN THE BANK ACCOUNT OF THE ASSESSEE BY MISTAKE. THE AO DID NOT ACCEPT THE EXPLANATION OFFERED BY THE ASSESSEE ON THE GROUND THAT NO BOOKS OF ACCOUNT EITHER OF THE ASSESSEE OR OF HER HUSBAND WERE FURNISHED. NO EVIDENCE HAS BEEN FILED BY HER HUSBAND IN THIS REGARD AND THE AO TREATED THIS AMOUNT AS PROFIT AND GAINS OF BUSINESS, TREATED THAT OUT OF RS.18,00,000/- A SUM OF RS.4,47,670/- CAN BE HELD AS EXPLAINED IN THE HANDS OF THE ASSESSEE AND THEREFORE, ADDED THE REMAINING AMOUNT OF RS.13,52,330/- AS UNEXPLAINED DEPOSIT IN THE BANK ACCOUNT. 4. THE ASSESSEE WENT IN APPEAL BEFORE THE CIT(A) BUT WITHOUT ANY SUCCESS. 3 I.T.A.NO. 27 /CTK/2014 ASSESSMENT YEAR: 2009-2010 5. LD A.R. SUBMITTED BEFORE US THAT ASSESSEE HAS SUBMITTED COPY OF BANK ACCOUNT BY PAPER BOOK, COPY OF THE INCOME TAX RETURNS FILED FOR ASSESSMENT YEAR 2009-2010 OF SHRI ANAM CHARAN SAHOO AND DECLARATION MADE BY HER HUSBAND. THEREFORE, BY THESE THREE DOCUMENTS, IT CAN BE SEEN THAT THE AMOUNT BELONGS TO ASSESSEES HUSBAND. THE COPY OF BANK ACCOUNT REVEALED THAT THE AMOUNT WAS WITHDRAWN ON 16.12.2008 RS.4 LAKHS, ON19.12.2008, RS.7 LAKHS AND ON 16.12.2008 RS.5 LAKHS IN THE CASE OF HER HUSBAND SRI ANAM CH. SAHOO. THEREFORE, IF THIS BANK ACCOUNT IS ALREADY DISCLOSED BEFORE THE AO WHILE FILING THE RETURN AND THIS AMOUNT IS THE AMOUNT OF SRI ANAM CHARAN SAHOO, THEREFORE, THIS ADDITION MAY BE DELETED. 6. ON THE OTHER HAND, LD D.R. RELIED UPON THE ORDERS OF AUTHORITIES BELOW. 7. WE HAVE HEARD THE RIVAL CONTENTIONS. WE HAVE GONE THROUGH THE ORDERS OF LOWER AUTHORITIES, BANK PASSBOOK OF ASSESSEES HUSBAND. WE FIND THAT IN ASSESSEES BANK ACCOUNT, ON 16.12.2008, RS.4 LAKHS, ON 19.12.2008 RS. 7 LAKHS AND ON 26.12.2008 RS. 5 LAKHS WERE WITHDRAWN AND DEPOSITED IN THE BANK ACCOUNT OF THE ASSESSEE ON THREE DAYS OF RS.5 LAKHS, RS.8 LAKHS AND RS.3 LAKHS AND LATER ON WERE WITHDRAWN. AFTER WITHDRAWAL, THE AMOUNT WAS GIVEN TO ASSESSEES HUSBAND AND AMOUNT BELONG TO HIM. WE FIND THAT THE ASSESSEE HAS TAKEN THE CONTENTION BEFORE THE AO THAT VARIOUS AMOUNTS WHICH WERE WITHDRAWN FROM HER ACCOUNT WAS GIVEN TO ASSESSEES HUSBAND AND ASSESSEES HUSBAND, WHO IS IN BUSINESS OF LAND, INVESTED THIS AMOUNT IN REAL ESTATE BUSINESS. WE FIND THAT THE ASSESSEE HAS EXPLAINED THE SOURCE OF MONEY , THEREFORE, IT CANNOT BE TREATED IN THE HANDS OF THE ASSESSEE. IN VIEW OF THIS, WE DELETE THE SAME. 4 I.T.A.NO. 27 /CTK/2014 ASSESSMENT YEAR: 2009-2010 8. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOWED. (ORDER PRONOUNCED IN THE OPEN COURT ON 27.06.2014 ) - COPY OF THE ORDER FORWARDED TO: 1 . / THE APPELLANT : LAXMIPRIYA SAHOO,UTTARASANA, CIFA, KAUSALYAGANGA, BHUBANESWAR 2 / THE RESPONDENT:ITO WARD 1(2),BHUBANESWAR. 3 . /THE CIT,BHUBANESWAR 4 . ( )/THE CIT(A), BERHAMPUR (CAMP) BHUBANESWAR. 5 . /DR, CUTTACK BENCH 6 . GUARD FILE . /TRUE COPY, / BY ORDER, ASST.REGISTRAR, ITAT, CUTTACK SD/- SD/- ( . . ) , (P.K.BANSAL), ACCOUNTANT MEMBER ( . . ), (D.T.GARASIA(JUDICIAL MEMBER ( )DATE. 27.06.2014 PLACE: PANAJI (B.K.PARIDA) SENIOR.PRIVATE SECRETARY.