BHAGWAN SINGH POSWAL, Jaipur V. ITO, Jaipur

ITA 322/JPR/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9726 (ITAT-JAIPUR)
• Duration Of Justice: 11 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 06-04-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: P P MEENA JCIT DHK
• Keywords: Peak credit
• Section: 143(3)

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH HKKXPUN] YS[KK LNL; ,OA JH DQY HKKJR] U;KF;D LNL; DS LE{K BEFORE: SHRI BHAGCHAND, AM AND SHRI KUL BHARAT, JM VK;DJ VIHY LA-@ ITA NO. 322/JP/2016 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2010-11. SHRI BHAGWAN SINGH POSWAL C/O B.P. MUNDRA & CO. CHARTERED ACCOUNTANTS, CIVIL LINES, JAIPUR-302006 CUKE VS. THE ITO, WARD - 1, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AIPPP2375N VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : NONE JKTLO DH VKSJ LS@ REVENUE BY : SHRI P.P. MEENA (JCIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 07.03.2017. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 09 /03/2017. VKNS'K@ ORDER PER SHRI KUL BHARAT, JM. THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF LD. CIT (A)-I JAIPUR, DATED 27.01.2016 PERTAINING TO A.Y. 2010-11 . THE ASSESSEE HAS RAISED FOLLOWINGS GROUNDS OF APPEAL: 1. ADDITION OF UNDISCLOSED INCOME OF RS. 1,24,72,985/ - AS UNEXPLAINED CASH DEPOSIT IS BAD IN LAW & FACTS. 2. ADDITION OF INTEREST INCOME OF RS. 45,000/- IS BAD IN LAW & FACTS. 3. MAKING OF ADDITION BY AGGREGATE OF CASH DEPOSIT INT O BANK INSTEAD OF ADDITION AS PER THEORY OF PEAK CREDIT BALANCE IS BA D IN LAW & FACTS. 4. INSTEAD OF MAKING ADDITION OF INCOME EARNED OUT OF SAID UNACCOUNTANT TRANSITION, THE ADDITION OF WHOLE CASH DEPOSIT INTO BANK OF THE ASSESSEE IS BAD IN LAW & FACTS. 2 ITA NO. 322/JP/2016 SHRI BHAGWAN SINGH POSWAL. 5. ASSESSING U/S 143(3) OF INCOME TAX ACT, 1961 WITHOU T SERVING NOTICE U/S 143(2) OF INCOME TA ACT, 1961 WITH IN THE STIPU LATED TIME IS BAD IN LAW & ACTS AND THE ORDER U/S 143(3) OF INCOME TAX A CT, 1961 IS LIABLE TO BE CANCELLED. NO ONE APPEARED ON BEHALF OF THE ASSESSEE. IT IS TR ANSPIRED FROM THE RECORD THAT THE ASSESSEE HAS BEEN SEEKING ADJOURNMENTS ON ONE PRETEXT OR THE OTHER ON 10/8/2016, 19/9/2016, 21/10/2016, 29/11/2016 AND ON LAST DATE OF HEARING I.E. ON 06.02.2017, THE ASSESSEE WAS GIVEN LAST OPPORTUNITY BY FIXING THE HEARING ON 07.03.2017. BUT TODAY, NONE APPEARED ON BEHALF OF T HE ASSESSEE NOR FILED ANY APPLICATION FOR ADJOURNMENT. UNDER THESE FACTS, IT IS PRESUMED THAT THE ASSESSEE IS NOT INTERESTED TO PROSECUTE THE APPEAL. RESPECTFULL Y FOLLOWING THE JUDGMENTS OF HONBLE DELHI HIGH COURT IN THE CASE OF CIT VS. MUL TIPLAN INDIA LTD., 38 ITD 320 (DEL.) AND HONBLE MADHYA PRADESH HIGH COURT IN THE CASE OF ESTATE OF LATE TUKOJIRAO HOLKAR VS. CWT, 223 ITR 480 (MP), WE DISMISS THE AP PEAL OF THE ASSESSEE FOR WANT OF PROSECUTION. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED . ORDER IS PRONOUNCED IN THE OPEN COURT ON 0 9 .03.2017. SD/- SD/- ( HKKXPUN ( DQY HKKJR ) ( BHAGCHAND) ( KUL BHARAT ) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 09 /03/2017. POOJA/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- SHRI BHAGWAN SINGH POSWAL, JAIP UR. 2. THE RESPONDENT THE COMMISSIONER OF INCOME TAX (A)-1, JAIPUR. 3. THE CIT(A). 3 ITA NO. 322/JP/2016 SHRI BHAGWAN SINGH POSWAL. 4. THE CIT, 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (ITA NO. 322/JP/2016) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR