Shri Dashrathbhai Parshottamdas Patel, Gandhinagar V. The Income tax Officer,Ward-13(4), Ahmedabad

ITA 293/AHD/2011

• Counselvise Citation: 29320514 RSA 2011
• Duration Of Justice: 4 year(s) 9 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-11-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 28-08-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 03-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K
• Assessee Lawyers: KALPESH J SHAH
• Keywords: Peak credit
• Section: 131

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH AHMEDABAD BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER, AND SHRI S. S. GODARA, JUDICIAL MEMBER. ITA. NO. 293/AHD/2011 (ASSESSMENT YEAR:2007-08) PATEL DASHRATHBHAI PARSHOTTAMDAS DHOLAKUVA, TAL: MANSA, DIST. GANDHINAGAR APPELLANT VS. ITO, WARD 13(4), AHMEDABAD RESPONDENT / BY ASSESSEE : SHRI KALPESH J. SHAH, A.R. / BY REVENUE : SHRI A. K. PANDEY, SR.D.R. /DATE OF HEARING : 28.08.2015 /DATE OF PRONOUNCEMENT :06.11.2015 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2007-08, ARISES FROM ORDER OF THE CIT(A) - XXI, AHMEDABAD, DATED 12 .01.2011 PASSED IN PROCEEDINGS U/S.144(1)(B) OF THE INCOME T AX ACT, 1961, HEREINAFTER THE ACT. 2. THE ASSESSEES SOLE SUBSTANTIVE GROUND CHALLENGE S ACTION OF THE LOWER AUTHORITIES IN ADDING A SUM OF RS.11,56,1 70/- ITA NO.293/AHD/2011 (PATEL DASHRATHBHAI PARSHOTTAMD AS VS. ITO) A.Y. 2007-08 - 2 - DEPOSITED IN HIS SAVINGS ACCOUNT MAINTAINED WITH TH E AHMEDABAD MERCANTILE CO. OP. BANK LTD., AMBAWADI, F OR WANT OF ITS SOURCE BEING DISCLOSED DURING BEST JUDGMENT ASS ESSMENT FRAMED ON 21.12.2009. 3. THE ASSESSEE PREFERRED APPEAL. THE CIT(A) SOUGH T FOR A REMAND REPORT. THE ASSESSING OFFICER ISSUED SECTION 131 SUMMONS TO DEPOSITORS. ELEVEN OF THEM APPEARED SUP PORTING A GROSS SUM OF RS.1,42,000/-. EIGHT DEPOSITORS QUA A GROSS SUM OF RS.1,26,000/- DID NOT COME PRESENT. IT TRANSPIRES FROM THE LOWER APPELLATE ORDER THAT THE ASSESSING OFFICER SUBMITTE D HIS REMAND REPORT DOUBTING GROSS DEPOSITS OF RS.59,000/- IN CA SE OF FIVE OUT OF ABOVE STATED 11 PARTIES. WE FIND THAT THE LOWER APPELLATE ORDER SIMPLY REPRODUCES CONTENTS OF THE REMAND REPORT FOR CONFIRMING THE IMPUGNED ADDITION WITHOUT EVEN PARTLY ACCEPTING ASSESSEES CLAIM EXPLAINING SOURCE OF DEPOSITS AS WELL AS HIS PLEA OF ADDING ONLY PEAK CREDITS. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE C ASE FILE. RELEVANT FACTS NARRATED IN THE PRECEDING PARAGRAPH ARE NOT REPEATED FOR THE SAKE OF BREVITY. WE FIND THAT THE ASSESSING OFFICERS REMAND PROCEEDINGS HAVE PARTLY SUCCEEDED IN PROVING ASSESSEES CLAIM EXPLAINING SOURCE OF CASH DEPOSITS IN QUESTION. HE REFERS TO HIS BANK STATEMENTS FORMING THE PART O F CASE RECORD IN SUPPORT OF PEAK DEPOSIT. THE REVENUE STRONGLY S UPPORTS THE ACTION OF THE LOWER AUTHORITIES. WE ARE OF THE VIE W IN THESE FACTS THAT SINCE THE CIT(A) HAS NOT CONSIDERED ASSESSEES ABOVE STATED ARGUMENT AT ALL IN THE ORDER UNDER CHALLENGE BY PAS SING SPEAKING ORDER, THIS ISSUE REQUIRES FRESH ADJUDICATION IN TH E LOWER ITA NO.293/AHD/2011 (PATEL DASHRATHBHAI PARSHOTTAMD AS VS. ITO) A.Y. 2007-08 - 3 - APPELLATE PROCEEDINGS. WE ORDER ACCORDINGLY. THE ASSESSEE SHALL BE ENTITLED TO PLACE ON RECORD ALL OF HIS EVIDENCE IN SUPPORT OF GENUINENESS OF THE IMPUGNED DEPOSITS AS WELL AS THE PEAK DEPOSIT PLEA. THIS SOLE SUBSTANTIVE GROUND IS TREATED AS A LLOWED FOR STATISTICAL PURPOSES. 5. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. PRONOUNCED IN THE OPEN COURT ON THIS THE 06 TH DAY OF NOVEMBER, 2015. SD/- SD/- (PRAMOD KUMAR) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 06/11/2015 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )* + ,--. . /0 / DR, ITAT, AHMEDABAD 1 + 23 4 5 / GUARD FILE. BY ORDER / . // . /0