ASHIM KUMAR SINHA , RAMGARH V. ITO WARD-2(3), RAMGARH

ITA 31/RAN/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9514 (ITAT-RANCHI)
• Duration Of Justice: 2 year(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-03-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 05-02-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: NISHA SINGHMARR J
• Assessee Lawyers: P S PAUL
• Keywords: Unexplained cash credit; Earning of tax free income
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL: RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A NO.31/RAN/2018 ASSESSMENT YEAR: 2014-15 ASHIM KUMAR SINHA, RAMGARH M/S CHETAN TELECOME, 4571, JARA TOLA, RAMGARH CANTT., RAMGARH, JHARKHAN-829122 VS. ITO, WD-2(3), RAMGARH PAN/GIR NO. : ANTPS0194D ( APPELL ANT ) .. (RESPONDENT) APPELLANT BY SRI P.S. PAUL, CA RESPONDENT BY SMT. NISHA SINGHMARR, JCIT(DR) DATE OF HEARING 03.03.2020 DATE OF PRONOUNCEMENT 03.03.2020 O R D E R S. S. GODARA(ORAL): THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS), HAZARIBAG, JHARKHAND DATED 27.09.2017 PASSED IN CASE NO.10081/HZB/2016-17 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT). HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE RAISED IN THE INSTANT APPEAL CHALLENGES CORRECTNESS OF THE CIT(A)S ACTION PARTLY DELETING UNEXPLAINED CASH CREDITS ADDITION OF RS.9,07,600/- TO THE EXTENT OF RS.6,00,000/- ONLY SINCE GOING BY THE PAST FOUR YEARS EXEMPT INCOME LIMIT OF RS.1.5 LAKHS EACH. LEARNED COUNSELS CASE IS THAT ASSESSEES BALANCE SHEET AS ON 01.04.2013 ITSELF SHOWS OPENING BALANCE OF RS.9,91,145/-. I FIND THAT THIS ASSESSEE HAD NOT FILED ANY RETURN OF INCOME FOR THE PRECEDING FOUR ASSESSMENT YEARS WHICH COULD SUPPORT THE CLAIM OF FOREGOING OPENING CASH BALANCE. THE SAME APPEARS TO BE THE REASONING ADOPTED I.T.A NO.31/RAN/2018 ASHIM KUMAR SINHA, RAMGARH 2 IN THE LOWER APPELLATE AUTHORITY ORDER AS WELL. I THUS AFFIRM THE IMPUGNED ADDITION OF RS.3,07,600/- MADE IN THE COURSE OF ASSESSMENT AND UPHOLD THE CIT(A)S ORDER. 3. THIS ASSESSEES APPEAL IS DISMISSED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 03.03.2020. SD/- (S. S. GODARA) JUDICIAL MEMBER DATED: 03.03.2020. RS COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A) - 5. THE DR, ITAT, RANCHI 6. GUARD FILE BY ORDER SR. P.S., ITAT, RANCHI (ON TOUR)