SHRI. SRIRAMULU, VILLIPURAM V. THE INCOME TAX OFFICER WRD 1 VILLIPURAM, VILLPURAM

ITA 3102/CHNY/2017

• Counselvise Citation: [2019] 111 COUNSELVISE.COM (IT) 9177 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 11 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-12-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 18-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Gift; Capital Gains
• Section: 143(3)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, C BENCH : CHENNAI , . , [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY , JUDICIAL MEMBER ] !' ./I.T.A. NO.3102/CHNY/2017. #$% &$ / ASSESSMENT YEAR : 2014-2015. SHRI. SRIRAMULU, METTU STREET, KALINGAMALAI VILLAGE, VAZHUTHAVUR POST, VILLUPURAM TALUK 605 502. VS. THE INCOME TAX OFFICER, WARD -1, VILLUPURAM. [PAN DBWPS 2992M] ( / APPELLANT) ( /RESPONDENT) !' '( ) * / APPELLANT BY : NONE +,'( ) * /RESPONDENT BY : SHRI. J. PAVITHRAN KUMAR, JCIT. # - ) . /DATE OF HEARING : 11-12-2019 /0&% ) . /DATE OF PRONOUNCEMENT : 12-12-2019 / O R D E R PER INTURI RAMA RAO, ACCOUNTANT MEMBER THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AG AINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEAL S)- PUDUCHERRY, ITA NO.3102 /2017 :- 2 -: (CIT(A) FOR SHORT) DATED 11.10.2017 FOR THE ASS ESSMENT YEAR (AY) 2014-2015. 2. THE BRIEF FACTS OF THE CASE ARE AS UNDER: THE APPELLANT IS AN INDIVIDUAL, DERIVING INCOME UNDER THE HEADS INCOME FROM CAPITAL GAINS AND INCOME FROM OT HER SOURCES. THE RETURN OF INCOME FOR THE AY 2014-15 WAS FILED ON 1 8.01.2016 DISCLOSING TOTAL INCOME OF RS.97,280/-. AGAINST TH E SAID RETURN OF INCOME, THE ASSESSMENT WAS COMPLETED BY THE INCOME TAX OFFICER, WARD 1, VILLUPURAM (HEREINAFTER REFERRED AS ASSE SSING OFFICER) VIDE ORDER DATED 29.12.2016 PASSED U/S. 143(3) OF THE IN COME TAX ACT, 1961 (FOR SHORT THE ACT) AT TOTAL INCOME OF E56,0 8,665/-. WHILE DOING SO, THE ASSESSING OFFICER MADE ADDITION OF E50,00,0 00/- AS UNEXPLAINED CASH DEPOSITS AND DISALLOWED AN EXP ENDITURE INCURRED IN COMPUTING CAPITAL GAINS ON SALE OF PROPERTY OF E 6,08,665/- AS ASSESSEE HAD FAILED TO SUBSTANTIATE THE EXPENDITUR E INCURRED FOR LAND RECLAMATION CHARGES OF E7,00,000/- AND BUILDING CO NSTRUCTION EXPENSES OF E2,00,000/-. 3. BEING AGGRIEVED BY THE ABOVE ADDITIONS, THE ASSESS EE PREFERRED AN APPEAL BEFORE LD. CIT(A), WHO VIDE IMP UGNED ORDER HAD DISMISSED THE APPEAL REJECTING THE CONTENTION OF T HE ASSESSEE THAT ITA NO.3102 /2017 :- 3 -: CASH DEPOSITED IN BANK ACCOUNT WERE MADE OUT OF ACC UMULATED INCOME EARNED FROM DAIRY FARM AND GIFT OF E25,00,000/- RE CEIVED FROM HIS MOTHER. AS REGARDS TO THE DISALLOWANCE OF CLAIM TOW ARDS LAND RECLAMATION CHARGES OF E7,00,000/- AND BUILDING CO NSTRUCTION EXPENDITURE OF E2,00,000/-, THE LD. CIT(A) CONFIRME D THE ADDITION AS ASSESSEE FAILED TO SUBSTANTIATE THE CLAIM. 4. BEING AGGRIEVED, THE APPELLANT IS IN APPEAL BEFORE US IN THE PRESENT APPEAL. ON THE DAY OF HEARING, NONE APPEARE D ON BEHALF OF THE ASSESSEE DESPITE DUE SERVICE OF NOTICE. 5. ON THE OTHER HAND, THE LD. SR. DEPARTMENTAL REPRESE NTATIVE PLACED RELIANCE ON THE ORDERS OF LOWER AUTHORITIES. 6. WE HEARD THE LD. SR. DEPARTMENTAL REPRESENTATIVE AN D PERUSED THE MATERIAL ON RECORD. WE DO NOT FIND ANY REASON TO INTERFERE WITH THE ORDER OF THE LD. CIT(A) AS THE L D. CIT(A) HAS PASSED WELL REASONED ORDER CONSIDERING THE MATERIAL ON REC ORD AND THE SUBMISSIONS MADE BY THE ASSESSEE. THUS, WE DO NOT FIND ANY MERITS IN THE APPEAL FILED BY THE ASSESSEE. ITA NO.3102 /2017 :- 4 -: 7. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE S TANDS DISMISSED. ORDER PRONOUNCED ON 12TH DAY OF DECEMBER, 2019, AT CHENNAI. SD/- SD/- ( . ! ) (DUVVURU RL REDDY) ' # /JUDICIAL MEMBER ( ) (INTURI RAMA RAO) /ACCOUNTANT MEMBER 1 #- / CHENNAI 2# / DATED: 12TH DECEMBER, 2019. KV 3 ) +.4 5' !6 5&. / COPY TO: 1 . !' '( / APPELLANT 3. 7. (!' ) / CIT(A) 5. 5 :; +.#< / DR 2. +,'( / RESPONDENT 4. 7. / CIT 6. ;$ =- / GF