HASSANKUTTY, COIMBATORE V. ITO INTERNATIONAL TAXATION, COIMBATORE

ITA 2956/CHNY/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 6170 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 3 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 24-10-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , D (S MC) BENCH, CHENNAI, CAMP AT COIMBATORE BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER I.T.A.NO.2956/CHNY/2018 (ASSESSMENT YEAR: 2010-11) SHRI S.HASSANKUTTY, NO.1551/2, LAKSHMANAN STREET, SOUTH UKKADAM, COIMBATORE 641 001. VS THE INCOME TAX OFFICER, (INTERNATIONAL TAXATION) COIMBATORE [PAN: ACNPH 6905Q] ( / APPELLANT) ( /RESPONDENT) / APPELLANT BY : NONE /RESPONDENT BY : SHRI AR.V. SREENIVASAN, JCIT /DATE OF HEARING : 03.02.2020 /DATE OF PRONOUNCEMENT : 03.02.2020 O R D E R THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-13, CHENNAI ( HEREINAFTER REFERRED AS CIT(A)) DATED 16.08.2018 AND PERTAINS TO THE AS SESSMENT YEAR 2010- 11. 2 I.T.A. NO.2956/CHNY/2018 2. THE NOTICE OF HEARING WAS SERVED ON THE ASSESSE E AND THE REGISTRY HAD PLACED ON RECORD THE POSTAL TRACKING SHEET DOWN LOADED FROM THE POSTAL DEPARTMENT WEBSITE. SHRI N. V. BALAJI, THE REPRESENTATIVE FOR THE ASSESSEE FILED AN APPLICATION FOR ADJOURNMENT. SINC E THERE IS NO SUFFICIENT REASON FOR ADJOURNMENT, THE APPLICATION OF THE LD. COUNSEL IS REJECTED AND ACCORDINGLY, I HEARD SHRI AR.V. SREENIVASAN, THE SE NIOR DEPARTMENTAL REPRESENTATIVE AND DISPOSE THE APPEAL ON MERITS. 3. SHRI AR.V. SREENIVASAN, THE LD. DEPARTMENTAL REP RESENTATIVE, SUBMITTED THAT THE ASSESSING OFFICER MADE AN ADDIT ION OF RS.32,04,500/-. THE ASSESSEE CLAIMED BEFORE LD. ASSESSING OFFICER T HAT THERE WAS CASH WITHDRAWN FROM NRE ACCOUNT. AFTER CONSIDERING THE D EPOSITS OF RS.22,92,500/- IN HDFC BANK ACCOUNT AND RS.34,65, 000/- IN SBI BANK ACCOUNT, ACCORDING TO THE LD. DR, THE AO MADE ADDI TION OF RS.32,04,500/- ONLY AFTER REDUCING CASH WITHDRAWAL FROM THE NRE ACCOUNT. THEREFORE, ACCORDING TO THE LD. DR, THE CIT(A) CONFIRMED THE ADDITION MADE BY THE ASSESSING OFFICER. 4. HAVING HEARD THE LD. DEPARTMENTAL REPRESENT ATIVE, THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT CASH WITHDRAWAL FR OM THE NRE ACCOUNT WAS TAKEN INTO ACCOUNT WHILE CONSIDERING THE BAN K DEPOSITS IN HDFC BANK AND SBI. AS RIGHTLY SUBMITTED BY THE LD. DEPA RTMENTAL 3 I.T.A. NO.2956/CHNY/2018 REPRESENTATIVE THERE WAS A CASH DEPOSIT OF RS.22,92 ,500/- IN HDFC BANK ACCOUNT ON 29.07.2009 AND ANOTHER SUM OF RS.34,65,000/- IN THE SBI ACCOUNT AND THE ASSESSEE HAD WITHDRAWN RS.25, 53,000/- ONLY FROM NRE ACCOUNT. AFTER REDUCING THE CASH WITHDRAWAL FROM NRE ACCOUNT, THE ASSESSING OFFICER MADE AN ADDITION OF RS.32,04, 500/-. THEREFORE, I DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDERS OF THE LOWER AUTHORITIES. ACCORDINGLY, I CONFIRM THE ORDERS OF THE LOWER AUTH ORITIES. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESS EE IN ITA NO.2956/CHNY/2018 FOR ASSESSMENT YEAR 2010-2011 S TANDS DISMISSED. ORDER PRONOUNCED IN THE COURT ON 3 RD FEBRUARY, 2020, CAMP AT COIMBATORE. SD/- (... ) (N.R.S. GANESAN) JUDICIAL MEMBER COIMBATORE , /DATED, THE 3 RD FEBRUARY 2020. K V !'#$# / COPY TO: 1 . / APPELLANT 3. %&' / CIT(A) 5. #()!!*+ / DR 2. / RESPONDENT 4. % / CIT 6. ),-. / GF