Prakashlal Khandelwal, Ranchi V. ITO,Ward-2(5), Ranchi

ITA 316/RAN/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 3302 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 5 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-03-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 01-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS NISHA SINGHMAR J
• Assessee Lawyers: ANAND PASARI; NITIN PASARI
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 316 / RAN / 201 8 ASSESSMENT YEAR :2014-15 PRAKASH LAL KHANDELWAL 301-B, RATNAWALI APARTMENT, CIRCULR ROAD, LALPUR CHOWK, RANCHI- 834001 [ PAN NO.AVBPM 8720 F ] V/S . INCOME TAX OFFICER, WARD-2(5), RANCH /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI NITIN PASARI & SHRI ANAND PASARI, ADVOCATE /BY RESPONDENT MRS. NISHA SINGHMAR, JCIT-DR /DATE OF HEARING 02-03-2020 /DATE OF PRONOUNCEMENT 02-03-2020 / O R D E R PER BENCH (ORAL):- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS) RANCHIS O RDER DATED 31.08.2018 PASSED IN CASE NO.CIT(A), RANCHI/10410/2016-17 INVO LVING PROCEEDINGS U/S 143(30 OF THE INCOME TAX ACT, 1961; IN SHORT THE A CT. HEARD SHRI NITIN PASARI & SHRI ANAND PASARI LEARNE D AUTHORIZED REPRESENTATIVES FOR THE ASSESSEE AND MRS. NISHA O RAON SINGHMARR/ JCIT-DR APPEARING AT THE REVENUES BEHEST. 2. IT TRANSPIRES AT THE OUTSET DURING THE COURSE O F HEARING THAT WE NEED NOT GO MUCH DEEPER IN FACTS OF THE INSTANT CASE. BOTH T HE LEARNED LOWER AUTHORITIES ITA NO.316/RAN/2018 A.Y. 2014-15 PRAKASH LAL KHANDELWAL VS. ITO WD-2(5), RAN CHI PAGE 2 HAVE ADDED SUNDRY CREDITS AMOUNTING TO RS.212,38,31 1/- IN THE COURSE OF ASSESSMENT PROCEEDINGS AS UPHELD IN THE LOWER APPEL LATE PROCEEDINGS. 3. THE REVENUES CASE BEFORE US IS THAT SINCE THE A SSESSEE HAD SOUGHT UMPTEEN OPPORTUNITIES BEFORE THE ASSESSING OFFICER AND ALSO DID NOT APPEAR BEFORE THE CIT(A), THE IMPUGNED ADDITION HAS RIGHTL Y BEEN MADE GOING BY THE ORIGINAL BALANCE-SHEET REFLECTING THE AMOUNT AS RS. 21,23311/- IN THE BALANCE- SHEET AS ON 31.03.2013 ( PAGE 24 OF THE PAPER BOOK ). LEARNED COUNSELS CASE ON THE OTHER HAND IS THAT THE ASSESSEES CORRE CTED BALANCE-SHEET FILED BEFORE THE ASSESSING OFFICER HAS NOT EVEN BEEN CONS IDERED IN EITHER OF THE LOWER PROCEEDINGS. HE INVITED OUR ATTENTION TO PAGE 51 OF THE PAPER BOOK NOT INDICATING ANY SUCH SUNDRY CREDITORS IN THE CORRECT ED BALANCE-SHEET AS ON 31.03.2013 TO THIS EFFECT. WE THEREFORE DEEM IT APP ROPRIATE THAT LARGER INTEREST OF JUSTICE WOULD BE MET IN CASE THE ASSESSING OFFIC ER RE-EXAMINES THE ENTIRE ISSUE AFRESH GOING BY THE CORRESPONDING DETAILS IN BOTH OF THE ABOVE STATED BALANCE-SHEETS. LEARNED COUNSEL HAS UNDERTAKEN TO P LACE ON RECORD ALL NECESSARY DETAILS IN THE CONSEQUENTIAL PROCEEDINGS AT ASSESSEES OWN RISK AND RESPONSIBILITY. THE ASSESSEE IS THEREFORE DIREC TED TO APPEAR BEFORE THE ASSESSING OFFICER ALONGWITH A COPY OF THE INSTANT O RDER ON OR BEFORE 21.03.2020 . THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CANVASS ED IN THE INSTANT APPEAL IS ACCEPTED FOR STATISTICAL PURPOSES THEREFORE. 3, THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT AT THE CLOSE OF HEARING ON MONDAY 2 ND MARCH, 2020 . SD/- SD/- ( ) ('# ) (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) RANCHI, *DKP SR.P.S $- 02 / 03 /20 20 ITA NO.316/RAN/2018 A.Y. 2014-15 PRAKASH LAL KHANDELWAL VS. ITO WD-2(5), RAN CHI PAGE 3 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-PRAKASH LAL KHANDELWAL, 301, B, RATNAWAL I APARTMENT, CIRCULAR ROAD, LALPUR C HOWK, RANCHI-834001 2 . /RESPONDENT-ITO WARD-2(5), RANCHI 3. / 2 / CONCERNED CIT RANCHI 4. 2- / CIT (A) RANCHI 5. 5 ##/, /, / DR, ITAT, RANCHI 6. ; / GUARD FILE. BY ORDER/ , SR.PS, (ON TOUR), RANCHI /TRUE COPY/