Deepak Khurana , Noida V. ACIT, Central Circle- 6, New Delhi

ITA 2735/DEL/2018

AI Insights

This case involves an appeal by Shri Deepak Khurana against the order of the CIT(A)-24, New Delhi, which arose from a search and seizure operation conducted by the Income Tax Department. The operation led to the discovery of 933 grams of gold, which the assessee claimed was ancestral and acquired during marriage and other occasions. The CIT(A) applied the CBDT Instruction Number 1916, allowing a certain quantity of gold jewelry as 'stree dhan' for the assessee's wife and daughter, and reduced the unexplained gold to 183.08 grams. The Tribunal dismissed the appeal, agreeing with the CIT(A)'s findings and the addition of the unexplained gold to the assessee's income.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 129181 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-09-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 05-09-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 18-04-2018
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: APPELLANTS WIFE BEING MARRIED LADY; GRAMS
• Section: 143(3); 250

Judgement Text

ITA No.- 2735/Del/2018 Shri Deepak Khurana Page 1 of 4 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: ‘B’: NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No:- 2735/Del/2018 Assessment Year: 2014-15 Shri Deepak Khurana, D- 325, Sector 47, Noida, Uttar Pradesh. Vs. Assistant Commissioner of Income Tax, Central Circle 6, New Delhi. PAN No: AAAPK0471B APPELLANT RESPONDENT Assessee by : None Revenue by : Shri T James Singson, CIT( DR) Date of Hearing : 06.09.2023 Date of Pronouncement : 14.09.2023 ORDER PER ANUBHAV SHARMA, JM This appeal has been preferred by the Assessee against the order dated 31.01.2018 of CIT(A)-24, New Delhi (hereinafter referred as Ld. First Appellate Authority or in short Ld. ‘FAA’) in Appeal No. 38/16-17 arising out of an appeal before it against the order dated 29.02.2016 passed u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred as ‘the Act’) by the ACIT, Central Circle-06, New Delhi (hereinafter referred as the Ld. AO). ITA No.- 2735/Del/2018 Shri Deepak Khurana Page 2 of 4 2. Heard and perused the record. 3. None has appeared by the Assessee, as the case was called and the record shows that the matter has been listed for hearing since 24.02.2021 on 11 occasions and the notice issued has been received back with the remark “left”. Accordingly, arguments of Ld. DR were heard and he supported the findings of the authorities below. 4. Appreciating the matter on record, it comes up that in consequence to search and seizure operation conducted by the Department on 29.10.2013 the AO added 933 grams of Gold valued @ 2400 per gram total Rs. 22,39,392/- which assessee has claimed to be ancestral and received in at the time of marriage, and further purchased on various occasion. 4.1 Ld. CIT(A) by giving benefit to the assessee of the CBDT Instruction Number 1916 dated 11.05.1994, benefitted the assessee with following findings in Para 4.7 of the order of CIT(A). “4.7 Looking at totality of circumstances, to my mind, it would be reasonable to assume that the appellant would be having stree dhan' in form of jewelry of approximately 500 gms for appellant's wife being married lady, 250 grams for unmarried girl, and 320.84 gms for the appellant (as per bills submitted before the AOL The weight of the gold jewellery is more than the wad allowance. Therefore, the gold jewellery of 18308 gms (1253.92- (500+250+320.84 gms)) is treated as unexplained and corresponding addition of Rs. 4,39,392/-(183.08gms @Rs 2400 per gram) is confirmed.” 5. In our considered view the Ld. CIT(A) has already benefited the assessee on the basis of CBDT Circular giving presumption to certain quantity of gold or jewellery to be ITA No.- 2735/Del/2018 Shri Deepak Khurana Page 3 of 4 left out of seizure at time of the time of search. There is no evidence and justification from the assessee with regard to the addition sustained. 6. Grounds raised in the appeal have no substance and the appeal is dismissed. Order pronounced in the Open Court on 14 .09.2023 Sd/- Sd/- (N.K. BILLAIYA) (ANUBHAV SHARMA) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 14 /09/2023. Pooja/- Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA No.- 2735/Del/2018 Shri Deepak Khurana Page 4 of 4 Date of dictation 06.09.23 Date on which the typed draft is placed before the dictating Member Date on which the typed draft is placed before the Other Member Date on which the approved draft comes to the Sr. PS/PS Date on which the fair order is placed before the Dictating Member for pronouncement Date on which the fair order comes back to the Sr. PS/PS Date on which the final order is uploaded on the website of ITAT Date on which the file goes to the Bench Clerk Date on which the file goes to the Head Clerk The date on which the file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order