Appeal details
Counselvise Citation
[2019] 117 COUNSELVISE.COM (IT) 0661 (ITAT-AGRA)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
6 year(s) 4 month(s) 15 day(s)
Appellant
Respondent
Appeal Type
Cross Objection
Pronouncement Date
16-05-2019
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
DB
Next Hearing Date
08-05-2013
Assessment Year
2008-2009
Appeal Filed On
01-01-2013
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE : SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI A.L. GEHLOT, ACCOUNTANT MEMBER ITA NO. 03/AGRA/2013 ASSTT. YEAR : 2008-09 A.C.I.T., CIRCLE-2, VS. SHRI VINIT AGARWAL, GWALIOR. 201, STARLIT TOWER, Y.N. ROAD, INDORE. (PAN: AJBPA 1513 G) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI WASEEM ARSHAD, JR. D.R. RESPONDENT BY : SHRI K.C.AGARWAL & SH.PIYUSH SINGH AL, CA DATE OF HEARING : 08.05.2013 DATE OF PRONOUNCEMENT OF ORDER : 24.05.2013 ORDER PER BHAVNESH SAINI, J.M.: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A), GWALIOR DATED 26.10.2012 FOR THE ASSESSMENT YEAR 20 08-09, CHALLENGING THE DELETION OF ADDITION OF RS.10,85,515/- U/S. 68 OF T HE IT ACT IN VIOLATION OF RULE 46A OF THE IT RULES WITHOUT GIVING OPPORTUNITY TO T HE AO. 2. THE AO NOTED THAT THE ASSESSEE WAS DIRECTED TO F URNISH THE DETAILS OF UNSECURED LOANS WITH NAMES, ADDRESS AND PAN, BUT TH E ASSESSEE HAS NOT FURNISHED PAN AND ADDRESS OF THE PARTIES. THEREFORE, IN THE A BSENCE OF REQUIRED INFORMATION, CREDITWORTHINESS & IDENTITY OF THE CREDITORS AND GE NUINENESS OF THE TRANSACTION ITA NO. 03/AGRA/2013 2 COULD NOT BE ASCERTAINED. THE ADDITION OF RS.10,85, 515/- WAS MADE U/S. 68 OF THE IT ACT. THE ASSESSEE SUBMITTED BEFORE THE LD. CIT(A) T HAT DETAILED REPLY WAS FURNISHED BEFORE THE AO ON 22.11.2011 PRIOR TO PASSING OF THE ORDER IN WHICH COMPLETE DETAILS WERE GIVEN REGARDING NAMES OF THE CREDITORS , ADDRESSES, LOAN AMOUNT, PAN AND THAT ALL THE AMOUNTS WERE RECEIVED THROUGH BANK ING CHANNEL AND THE CREDITORS WERE ASSESSED WITH THE INCOME-TAX DEPARTMENT WITH T HE SAME ASSESSING OFFICER. APART FROM THAT, THE ASSESSEE FURNISHED COPIES OF B ANK STATEMENTS OF THE ASSESSEE AND LENDERS WITH THEIR CONFIRMATIONS AND COPIES OF THEIR INCOME-TAX RETURNS, BALANCE SHEET AND COMPUTATION OF INCOME. THESE EVID ENCES HAVE BEEN IGNORED BY THE AO. THEREFORE, THE ADDITION IS WHOLLY UNJUSTIFI ED. THE LD. CIT(A) ACCEPTED THE CONTENTION OF THE ASSESSEE AND DELETED THE ADDITION . 3. THE LD. DR RELIED UPON THE ORDER OF THE AO. ON T HE OTHER HAND, THE LD. COUNSEL FOR THE ASSESSEE REITERATED THE SUBMISSIONS MADE BEFORE THE AUTHORITIES BELOW AND REFERRED TO REPLY OF THE ASSESSEE DATED 2 2.11.2011 FILED BEFORE THE AO GIVING COMPLETE DETAILS (PB-61). 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND DO NOT FIND ANY JUSTIFICATION TO INTERFERE WITH THE ORDER OF THE LD. CIT(A) IN DE LETING THE ADDITION. THE AO IN THE ASSESSMENT ORDER ACCEPTED THE FACT THAT THE ASSESSE E HAS FURNISHED INFORMATION ON 22.11.2011. COPY OF REPLY IS FILED IN PAPER BOOK AT PAGE 61, WHICH CONFIRMED THE ITA NO. 03/AGRA/2013 3 DETAILS SUBMITTED BEFORE THE LD. CIT(A) AND IS REPR ODUCED AT PAGE 2 OF THE APPELLATE ORDER. THE ASSESSEE, THUS, HAS GIVEN COMPLETE DETAI LS OF CREDITORS, SUPPORTED BY THEIR CONFIRMATIONS AND BANK STATEMENTS AND ALL WER E ASSESSED WITH THE SAME ASSESSING OFFICER. THUS, THE AO WAS NOT JUSTIFIED I N HOLDING THAT NO DETAILS WERE FURNISHED BEFORE HIM. CLAIM OF THE AO IS WHOLLY INC ORRECT AND UNJUSTIFIED. THIS ITSELF IS SUFFICIENT TO DISMISS THE DEPARTMENTAL AP PEAL. THE AO INSTEAD OF EXAMINING THE REPLY OF ASSESSEE AND RECORD OF THE LENDERS WHO WERE ASSESSED TO TAX WITH HIM MADE WRONG STATEMENT IN THE ASSESSMENT ORDER FOR TH E PURPOSE OF MAKING ADDITION. THUS, THERE WAS NO VIOLATION OF RULE 46A IN THE MAT TER. THE LD. CIT(A) ON PROPER APPRECIATION OF FACTS AND MATERIAL ON RECORD RIGHTL Y DELETED THE ADDITION. THE DEPARTMENTAL APPEAL FAILS AND IS DISMISSED. 5. IN THE RESULT, THE DEPARTMENTAL APPEAL IS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (A.L. GEHLOT) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER *AKS/- COPY OF THE ORDER FORWARDED TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A), CONCERNED BY ORDER 4. CIT, CONCERNED 5. DR, ITAT, AGRA 6. GUARD FILE SR. PRIVATE SECRETARY TRUE COPY
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