Ms Anju Mahajan, New Delhi V. ITO, New Delhi

ITA 2918/DEL/2016

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 4361 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 10 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-04-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 22-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SATPAL GULATI
• Section: 64

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Saktijit Dey, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 2918/Del/2016 : Asstt. Year : 2009-10 Ms. Anju Mahajan, A-2/6, 1 st Floor, Rajouri Garden, New Delhi-110027 Vs Income Tax Officer, Ward-33(3), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAFPM2446M Assessee by : Sh. Vishal Kalra, Adv. Revenue by : Sh. Satpal Gulati, CIT DR Date of Hearing: 20.01.2022 Date of Pronouncement: 20.04.2022 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been filed by the assessee against the order of ld. CIT(A)-17, New Delhi dated 11.03.2016. 2. The assessee filed return of income on 30.03.2010 declaring income of Rs.6,76,727/-. The assessee derives remuneration, interest profit from M/s SPS Movers & Lifter, Capital Gain and income from other sources. Cash Deposit: 3. Information has been received by the revenue from Oriental Bank of Commerce with regard to cash deposit of Rs.55,87,000/-. ITA No.2918/Del/2016 Anju Mahajan 2 4. The assessee has produced cash statement which is as under: Ta b u l at e d c a s h s ta t e m e n t f o r th e p e ri o d 1. 4. 20 0 8 t o 31 . 3. 2 00 9 M R S . A N JU M A H A JA N D A TE A M O U N T S OU R CE S 19.04.2008 250000 Cash Deposited from Op. Cash in hand as per statement of affairs as on 31.03.2008 19.04.2008 250000 Cash Deposited from Op. Cash in hand as per statement of affairs as on 31.03.2008 19.04.2008 300000 Cash withdrawn from SPS Movers & Lifters CA No 1192 (Wherein Anju Mahajan one of the partner) and deposited in Saving Bank A/c 1769 06.05.2008 400000 Cash withdrawn from SPS Movers & (Lifters CA Mo 1192 (Wherein Anju Mahajan one of the partner) and deposited in Saving Bank A/c 1769 08.05.2008 300000 Cash withdrawn from SPS Movers & (Lifters CA No 1192 (Wherein Anju Mahajan one of the partner) and deposited in Saving Bank A/c 1769 22.05.2008 280000 Cash Withdrawn from SB 10723 with ING Vysya Bank and deposit in SB A/c 1769 OBC 26.05.2008 900000 Cash Withdrawn from SB 10723 with ING Vysya Bank and deposit in SB A/c 1769 OBC 27.05.2008 200000 Cash Withdrawn from SB 10723 with ING Vysya Bank and deposit in SB A/c 1769 OBC 30.06.2008 800000 Cash withdrawn from H. R. TRADERS (Wherein Anju Mahajan one of the partner) and deposited in Saving Bank A/c 1769 11.07.2008 25000 Cash Withdrawn from SB 10723 with ING Vysya Bank and deposit in SB A/c 1769 OBC 18.07.2008 112000 Cash deposited from cash in hand as per cash book and Stamp Duty Paid on 18.07.2008 09.08.2008 350000 Cash Withdrawn from SB 10723 with ING Vysya Bank and deposit in SB A/c 1769 OBC 16.09.2008 150000 Cash Withdrawn from SB 10723 with ING Vysya Bank and deposit in SB A/c 1769 OBC 14.10.2008 25000 Cash deposited from cash in hand as per cash book 26.11.2008 300000 Cash deposited from cash in hand as per cash book 03.12.2008 300000 Cash deposited from cash in hand as per cash book 04.12.2008 502000 Cash deposited from cash in hand as per cash book 21.01.2009 5000 Cash deposited from cash in hand as per cash book TOTAL 5449000 5. In the remand report, the AO has accepted Rs.44,49,000/- and the balance amount of Rs.11,38,000/- has been confirmed by the ld. CIT(A). ITA No.2918/Del/2016 Anju Mahajan 3 6. We have gone through the cash book submitted before us and find that Rs.11,38,000/- has also been duly reflected in the cash book from where the deposits have been made. Hence, we direct that the amount be deleted. The ground nos. 2 & 2.1 being interrelated are allowed. PRV Sales Rs.6,00,000: 7. The AO made addition alleging that the sundry creditor namely, PRV Sales Corporation as a bogus entry. The said entity was a proprietorship concern of her husband and during the assessment proceedings vide letter dated December 23, 2011 had filed the confirmation along with the income tax particulars from the said creditor. The same has been annexed at page 64 of the paper book and already examined by the AO in the remand proceeding. Further, at page 53-54 of the paper book, the assessee has annexed the assessment order for A.Y. 2008-09, wherein the AO has examined the said creditor and accepted it. Hence, the addition is directed to be deleted. Credit received from N.K. Mahajan: 8. The assessee received loan of Rs.18,18,000/- during the assessment year under appeal and the balance amount of Rs.12,75,000/- was received in the previous year and the same has been accepted by the AO in the assessment proceedings completed for A.Y. 2008-09. Copy of the order is (pages 53-54 of the PB) examined. Copy of confirmation from Mr. N. K. Mahajan along with the Income Tax particulars has been produced. No adverse interference has been drawn by the revenue except holding that the creditworthiness has not been proved. Since, the same amount has been accepted for the A.Y. ITA No.2918/Del/2016 Anju Mahajan 4 2008-09 received by the same person. In the absence of any contrary material, no addition is called for. Amount received from R.K. Apartments & Monika Mahajan: 9. The facts reveal that the assessee has repaid an amount of Rs.12,00,000/-to her sister-in-law, Ms. Monika Mahajan out of the total loan outstanding amount of Rs.18,12,500/-. It was argued that there was no actual repayment of loan but only a journal entry was passed whereby an amount paid to R.K. Apartments for booking of flat was taken over by Ms. Monika Mahajan and the same was adjusted in her account. The said advance paid to R.K. Apartments as well as the loan outstanding from Ms. Monika Mahajan has been accepted by the same AO in the Assessment Order passed for the A.Y. 2008-09. The assessee has furnished a confirmation along with the income tax particulars of the said creditor vide letter dated December 23, 2011 during the assessment proceeding. The assessee during the proceeding before us had filed the certificate from ING Vyasa Bank demonstrating that the amount of Rs.12,00,000/- was paid through cheque during the financial years 2004-05 and 2005-06. Hence, keeping in view the entire factual matrix, we hereby delete the addition made by the AO. 10. In the result, the appeal of the assessee is allowed. Order Pronounced in the Open Court on 20/04/2022. Sd/- Sd/- (Saktijit Dey) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 20/04/2022 *Subodh Kumar, Sr. PS*