Shri Nimar Swetamber Jain Credit Co-Op. Society Ltd., Barwah V. ITO, Khargone

ITA 30/Ind/2022

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 5703 (ITAT-INDORE)
• Duration Of Justice: 6 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-09-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: SMC
• Assessment Year: 2017-2018
• Appeal Filed On: 21-02-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 69; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE Ms. MADHUMITA ROY, JUDICIAL MEMBER & SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER I.T.A. No.30/Ind/2022 (Assessment Year: 2017-18) M/s. Shree Nimar Swetamber Jain Credit Co-Op. Society Ltd. 80, Narmada Road, Barwaha, Madhya Pradesh 451115 Vs. ITO, Khargone / Dy. Commissioner of Income Tax, National Faceless Appeal Centre, Delhi PAN No.AABAS7125G (Appellant) .. (Respondent) Appellant by : Shri P. D. Nagar, Ld. A.R. Respondent by : Shri Ashish Porwal, Sr.D.R. Date of Hearing 16.09.2022 Date of Pronouncement 19.09.2022 O R D E R PER Ms. MADHUMITA ROY - JM: The instant appeal filed by the assessee is directed against the order dated 30.11.2021 passed by the National Faceless Appeal Centre (NFAC), Delhi arising out of the order dated 22.12.2019 passed by the Income Tax Officer, Khargone under section 143(3) of the Income Tax Act, 1961 (hereinafter referred as to ‘the Act’) for Assessment Year 2017-18. ITA No.30/Ind/2022 (M/s. Shree Nimar Swetamber Jain) Asst.Year.– 2017-18 - 2 - 2. There is a delay of 14 days in preferring the instant appeal, which is otherwise covered by the judgment passed by the Hon’ble Apex Court due to Covid-19 pandemic and Lockdown which made assessee unable to file the appeal in time. We therefore having regard to the facts and the judgment passed by the Hon'ble Apex Court, condone the delay. 3. Ground No.1 is not pressed by assessee. Thus, Ground No.1 is dismissed as not pressed. 4. Ground No.2 relates to addition of Rs.4,97,000/-. 5. The case of the assessee before us is this that the impugned amount has been collected by its agent one week before the demonetization and since 09.11.2016 being a holiday, the same could not be deposited. However, the same was deposited on 10.11.2016. Though, this particular fact has been brought to the notice of the Ld.AO and explained duly by the assessee with all supporting documents alongwith lists of these agents, the same was found to be not acceptable and the addition has been made under Section 69 of the Act which is not sustainable in view of the fact as narrated hereinabove. In view of the matter, he prays for deletion of addition made by the authorities below. With all his fairness, the Ld.DR has not raised any serious objection to such submissions of Ld.AR. 6. We have heard the Ld. Counsel appearing for the parties and we have also considered the relevant materials available on record. We find that the submission made by the assessee which is supported by the corroborative ITA No.30/Ind/2022 (M/s. Shree Nimar Swetamber Jain) Asst.Year.– 2017-18 - 3 - evidences seems to be genuine and therefore, the addition made under Section 69 of the Act is found to be not sustainable. The addition is, therefore, deleted, 7. In the result, assessee’s appeal is partly allowed for statistical purposes. This Order pronounced in Open Court on 19/09/2022 Sd/- Sd/- (BHAGIRATH MAL BIYANI) (MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER Indore; Dated 19/09/2022 S. K. Sinha, Sr. PS TRUE COPY आदेश कᳱ ᮧितिलिप अᮕेिषत/Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant 2. ᮧ᭜यथᱮ / The Respondent. 3. संबंिधत आयकर आयुᲦ / Concerned CIT 4. आयकर आयुᲦ(अपील) / The CIT(A)- 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Indore 6. गाडŊ फाईल / Guard file. आदेशानुसार/ BY ORDER, (Dy./Asstt.Registrar) ITAT, Indore