ITO, New Delhi V. Sh. Aslam Parvez, New Delhi

ITA 2714/DEL/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 66004 (ITAT-DELHI)
• Duration Of Justice: 6 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-12-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 17-12-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 04-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BHIM SINGH
• Keywords: Unexplained cash credit

Judgement Text

ITA NO. 2714/DEL/2012 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A, NEW DELHI BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER I.T.A. NO. 2714/DEL/2012 A.Y. : 2007-08 ITO, WARD 34(3), ROOM NO. 318, BLOCK-D, VIKAS BHAVAN, I.P. ESTATE, NEW DELHI 110 002 VS. SH. ASLAM PARVEZ, Z-1/149-150, JJ COLONY, WELCOME, SEELAMPUR, DELHI 110 053 (PAN/GIR NO. : AKTPP 6324P) (APPELLANT ) (APPELLANT ) (APPELLANT ) (APPELLANT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) (RESPONDENT ) ASSESSEE BY : SH. C.S. ANAND, ADV. DEPARTMENT BY : SH. BHIM SINGH, D.R. ORDER ORDER ORDER ORDER PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM PER SHAMIM YAHYA: AM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST TH E ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-XXVII, NEW DELHI DATED 02.2.2012 PERTAINING TO ASSESSMENT YEAR 2007-08. 2. THE GROUND RAISED IS THAT LD. COMMISSIONER OF INC OME TAX (A) ERRED IN DELETING THE ADDITION OF ` 10,78,100/- MADE BY THE ASSESSING OFFICER ON ACCOUNT OF UNEXPLAINED CASH CREDITS APPEARING IN THE BANK ACCOUNT OF ASSESSEE. 3. IN THIS CASE AS PER AIR INFORMATION RECEIVED I N THE ASSESSEES CASE, IT WAS FOUND THAT ASSESSEE HAD DEPOSITED CASH IN HIS BANK ACCOUNT AMOUNTING TO ` 10,78,100/-. NOTICES U/S. 1 43(2)/143(1) WERE ISSUED TO THE ASSESSEE ON SEVERAL OCCASIONS, BUT TH ERE WAS NO COMPLIANCE. ASSESSEE DID NOT FURNISH ANY EXPLANA TION WITH REGARD TO ITA NO. 2714/DEL/2012 2 THE SOURCE OF THESE CASH DEPOSITS DURING THE ASSESS MENT PROCEEDINGS, THE SAME WAS ADDED TO THE INCOME U/S. 68 OF THE I.T. ACT. 4. UPON ASSESSEES APPEAL LD. COMMISSIONER OF INCOME TAX (A) NOTED THAT FOR CASH DEPOSITS OF ` 10,78,100/- IN A SSESSEES BANK ACCOUNT, THE ASSESSEE HAS FILED DATA-WISE DETAILS OF CASH WITHDRAWN AND CASH DEPOSITED IN HIS BANK ACCOUNT AND THE AVA ILABILITY OF CASH ON EACH DATE. LD. COMMISSIONER OF INCOME TAX (A) GAV E A FINDING THAT THERE WAS A NEGATIVE BALANCE OF ` 13,500/- ON 6.5.2 006. ON REST OF THE DAYS THERE WAS SUFFICIENT CASH AVAILABLE TO EXPLAIN THE CASH DEPOSITED IN THE BANK ACCOUNT. THEREFORE, LD. COMMISSIONER O F INCOME TAX (A) HELD THAT THE ADDITION ON ACCOUNT OF UNEXPLAINED CA SH DEPOSIT MADE BY THE ASSESSEE IN HIS BANK ACCOUNT, WAS RESTRICTE D TO ` 13,500/-. 5. AGAINST THE ABOVE ORDER THE REVENUE IS IN APPEAL BEFORE US. 6. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSE D THE RECORDS. WE FIND THAT THE LD. COMMISSIONER OF INCOME TAX (A) HA S GIVEN A FINDING THAT FROM THE DETAILS OF CASH DEPOSITS AND WITHDRAWALS MADE BY THE ASSESSEE. IT WAS FOUND THAT THERE WAS AVAILA BILITY OF CASH ON EACH DATE OF DEPOSITS, ONLY ON ONE OCCASION THERE W AS NEGATIVE BALANCE OF ` 13,500/-. LD. COMMISSIONER OF INCOME TA X (A) RESTRICTED THE ADDITION TO THIS AMOUNT OF NEGATIVE BALANCE I.E. ` 13,500/-. WE HAVE CAREFULLY CONSIDERED THE ISSUE. WE FIND THAT ASSESSEE HAS COGENTLY EXPLAINED BEFORE THE LD. COMMISSIONER OF IN COME TAX (A) REGARDING THE AVAILABILITY OF CASH. HENCE, THE DEP OSITS IN THE BANK ACCOUNT HAS BEEN TREATED AS SUFFICIENTLY EXPLAINED BY THE LD. ITA NO. 2714/DEL/2012 3 COMMISSIONER OF INCOME TAX (A). IN OUR CONSIDERED OPINION, THERE IS NO INFIRMITY IN THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (A), ACCORDINGLY, WE UPHOLD THE SAME. 7. IN THE RESULT, THE APPEAL FILED BY THE REVENUE S TANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 19/12/2012. SD/- SD/- [ [[ [RAJPAL YADAV RAJPAL YADAV RAJPAL YADAV RAJPAL YADAV] ]] ] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] [SHAMIM YAHYA] JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER DATE 19/12/2012 SRBHATNAGAR SRBHATNAGAR SRBHATNAGAR SRBHATNAGAR COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: COPY FORWARDED TO: - -- - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT TRUE COPY BY ORDER, ASSISTANT REGISTRAR, ITAT, DELHI BENCHES