Swaminathan Balasubramani, CHENNAI V. ITO International Taxation 2(2), CHENNAI

ITA 2803/CHNY/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 5100 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-06-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 21-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B SAGADEVAN
• Assessee Lawyers: M KARUNAKARAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: CHENNAI . . . , . , ! BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P.GEORGE, ACCOUNTANT MEMBER ./ ITA NO.2803/CHNY/2017 ' ' /ASSESSMENT YEAR: 2014-15 SRI SWAMINATHAN BALASUBRAMANI, 15/22, VOC COLONY, 1 ST STREET, AMINJIKARAI, CHENNAI-600 029. VS. THE INCOME TAX OFFICER, INTERNATIONAL TAXATION 2(2), CHENNAI-34. [PAN: AQJPS 5165 R ] ( % /APPELLANT) ( &'% /RESPONDENT) % ( / APPELLANT BY : MR.M.KARUNAKARAN, ADV. &'% ( /RESPONDENT BY : MR.B. SAGADEVAN, JCIT ( /DATE OF HEARING : 20.06.2018 ( /DATE OF PRONOUNCEMENT : 25.06.2018 / O R D E R PER ABRAHAM P.GEORGE , ACCOUNTANT MEMBER : IN THIS APPEAL FILED BY THE ASSESSEE WHICH IS DIRE CTED AN ORDER DATED 16.08.2017 OF COMMISSIONER OF INCOME TAX (APPEALS)- 16, CHENNAI, IT IS AGGRIEVED ON AN ADDITION OF RS.25,00,000/- MADE BY THE AO FOR DEPOSITS MADE BY THE ASSESSEE IN HIS BANK ACCOUNT WHICH WAS CONFIRMED BY THE LD.C IT(A). 2. LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE L D.CIT(A) HAD DISMISSED THE APPEAL OF THE ASSESSEE WITHOUT CONSIDERING THE GROU NDS RAISED BY HIM. AS PER THE ITA NO.2803/CHNY/2017 :- 2 -: LD.AR, IT WAS TRUE THAT THE ASSESSEE COULD NOT APPE AR BEFORE THE LD.CIT(A) WHEN THE MATTER WAS POSTED FOR HEARING SINCE HE WAS A NON-RE SIDENT INDIAN. HOWEVER, ACCORDING TO HIM, ASSESSEE HAS SUFFICIENT SOURCE FO R THE SUM OF RS.25,00,000/- DEPOSITED IN HIS BANK ACCOUNT WITH SYNDICATE BANK. CONTENTION OF THE LD.AR THAT THE MONEY WAS RECEIVED FROM ASSESSEES FATHER DR. K. BA LASUBRAMANYAM WHO HAD RETIRED FROM ANNA UNIVERSITY. AS PER THE LD.AR, ASS ESSEES MOTHER HAD GIVEN A CONFIRMATION FOR THE ABOVE, SINCE DR. K. BALASUBRAM ANYAM WAS NO MORE. CONTENTION OF THE LD.AR, ASSESSEE WAS NOT GIVEN A FAIR CHANCE FOR EXPLAINING THE DEPOSITS. 3. PER CONTRA, THE LD.DR SUBMITTED THAT DESPITE GIV ING SUFFICIENT OPPORTUNITIES, ASSESSEE COULD NOT FURNISH ANY EVIDENCE FOR THE SOU RCE OF THE DEPOSIT MADE BY THE ASSESSEE IN HIS BANK ACCOUNT. 4. WE HAVE HEARD THE RIVAL CONTENTIONS. IT IS AN AD MITTED FACT THAT THE ASSESSEE IS A NON-RESIDENT INDIAN. ASSESSEE HAD CASH DEPOSITS AGGREGATING TO RS.40,30,000/- IN HIS ACCOUNT NO.60212010091040 WITH SYNDICATE BAN K. ASSESSEE HAD EXPLAINED THE SAID DEPOSITS AS COMING OUT OF EARLIER WITHDRAW ALS AND A SUM OF RS.25,00,000/- RECEIVED BY HIM FROM HIS FATHER IN CASH DURING THE PERIOD FROM AUGUST, 2013 TO SEPTEMBER, 2013. THE AO HAD NOT ACCEPTED THE EXPLA NATION FOR THE SUM OF RS.25,00,000/- CITING A REASON THAT THE ASSESSEE WA S NOT ABLE TO PRODUCE ANY DOCUMENTARY EVIDENCE. LD.CIT(A) HAD CONFIRMED THE ADDITION MAINLY FOR THE REASON THAT THE ASSESSEE DID NOT APPEAR ON VARIOUS DATES W HEN THE MATTER WAS POSTED FOR HEARING. BE THAT AS IT MAY, NOW BEFORE US LD.AR HA S PRODUCED, A CONFIRMATION FROM SMT.B.NAGA WIFE OF DR. K. BALASUBRAMANYAM CONFIRMIN G THAT LATTER HAD GIVEN CASH OF RS.25,00,000/- TO HIS SON. IT IS ALSO MENTIONED TH AT DR. K. BALASUBRAMANYAM HAD ITA NO.2803/CHNY/2017 :- 3 -: PASSED AWAY IN AUGUST, 2013. CONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE, WE ARE OF THE OPINION THAT THE ASSESSEE CAN BE GIVE N ONE MORE CHANCE TO EXPLAIN THE SOURCE OF DEPOSIT OF RS.25,00,000/-. WE, THEREFORE , SET ASIDE THE ORDERS OF THE AUTHORITIES BELOW AND REMIT THE ISSUE BACK TO THE A O FOR CONSIDERATION AFRESH IN ACCORDANCE WITH LAW. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT IN JUNE 25, 201 8, IN CHENNAI. SD/- SD/- ( . . . ) (N.R.S. GANESAN) /JUDICIAL MEMBER ( . ) ( ABRAHAM P.GEORGE ) /ACCOUNTANT MEMBER /CHENNAI, / /DATED: JUNE 25, 2018. TLN ( &01 21 /COPY TO: 1. % /APPELLANT 4. 3 /CIT 2. &'% /RESPONDENT 5. 1 & /DR 3. 3 ( )/CIT(A) 6. ' /GF