Amit Mukhopadhyay, Durgapur V. I.T.O.,Ward-1(2), Durgapur

ITA 332/KOL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2791 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-08-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 14-08-2019
• Assessment Year: 2008-2009
• Appeal Filed On: 22-02-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SANKAR HALDER JCITSRDR
• Assessee Lawyers: MIRAJ D. SHAH
• Keywords: Unexplained cash credit; Gift
• Section: 143(3); 250; 147

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.332/KOL/2019 ASSESSMENT YEAR:2008-09 AMIT MUKHOPADHYAY NATURAL HEIGHTS, BLOCK 1, 5C, DURGAPUR-713213 [ PAN NO.ABQPM 5174 N ] / V/S . INCOME TAX OFFICER WARD-1(2), AAYAKAR BHAWAN, 1W FLOOR, AAYAKAR BITHI, CITY CENTRE, DURGAPUR-713216 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI MIRAJ D SHAH, ADVOCATE /BY RESPONDENT SHRI SANKAR HALDER, JCIT-SR-DR /DATE OF HEARING 14-08-2019 /DATE OF PRONOUNCEMENT 30-08-2019 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2008-09, ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-DURGAPURS ORD ER DATED 16.11.2018 PASSED IN CASE NO.45/CIT(A)/DGP/2016-17, INVOLVING PROCEEDINGS U/S. 147 R.W.S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES FORMER SUBSTANTIVE GROUND RAISED IN THE INSTANT APPEAL CHALLENGES CORRECTNESS OF BOTH THE LOWER AUTHORITIE S ACTION ADDING UNEXPLAINED CASH CREDITS / DEPOSITS OF 22,03,540/- IN THE COURSE OF ASSESSMENT AS AFFIRMED IN ITA NO.332/KOL/2019 A.Y. 2008 -09 AMIT MUKHOPADHYAY VS. ITO WD-1(2) DGP PAGE 2 THE LOWER PROCEEDINGS. I FIND THAT THE ASSESSEE HAD ATTRIBUTED SOURCE OF THE IMPUGNED SUM GIFT RECEIVED FROM HIS FATHER WHO IN T URN WAS STATED TO HAVE SOLD HIS GOLD FOR 22,03,558/- ON VARIOUS DATES AS PER PARA 21 ON PAGE S 14 & 15 OF THE CIT(A)S ORDER. THE REVENUES CASE BEFORE ME IS THAT THE LEARNED LOWER AUTHORITIES HAVE FOUND VARIOUS INFIRMITIES IN THE A SSESSEES EXPLANATION. AND ALSO THAT DONOR / FATHER HAD EXPIRED ON 20.01.2008. MY ATTENTION IS FURTHER INVITED TO THE FACT THAT ASSESSEE IS NOT THE ONLY C HILD OF HIS PARENT AND THEREFORE, HE COULD HAVE CLAIMED THE ENTIRE GOLD AMOUNT FORMIN G THE SUBJECT-MATTER OF THE CASH AMOUNT IN QUESTION. I FIND NO REASON TO ACCEPT THE REVENUES ARGUMENTS. THE CBDTS INSTRUCTION NO.1916 DATED 11.05.1994 MAD E IT CLEAR LONG BACK THAT GOLD JEWELLERY AND ORNAMENTS TO THE EXTENT OF 500 G R. PER MARRIED LADY AND 250 GR. FOR UNMARRIED DAUGHTERS AND 100 GR. WITH UNMARR IED CHILD NEED NOT BE SEIZED. HON'BLE GUJARAT HIGH COURTS DECISION IN CIT VS. RATANLAL VYAPARILAL JAIN (2010) 235 CTR 568 (GUJ) HOLDS THAT THE SAID CIRCU LAR IMPLIES THAT SOURCE TO THE EXTENT SUCH AN AMOUNT OF JEWELLERY IS DEEMED TO HAVE BEEN EXPLAINED IN CASE OF RESPECTIVE HOLDERS. I CONCLUDE IN THESE FAC TS THAT ASSESSEE HAD DULY EXPLAINED SALE OF GOLD BY HIS FATHER BEFORE HIS DEA TH ON VARIOUS DATES FROM JUNE, 2007 TO NOVEMBER, 2007. LEARNED COUNSEL FAILS TO EX PLAIN THE RELEVANT DETAILS THAT SILVER UTENSILS QUANTITY OF 3.780 KG. ALLEGEDL Y FETCHING 69,930/- IN ENTIRETY. I REITERATE HERE THAT THE ASSESSEE HAD ALSO PRODUCE D HIS REAL BROTHER / FAMILY MEMBERS IN SUPPORT OF HIS CLAIM. I CONCLUDE IN THIS FACT THAT THE IMPUGNED UNEXPLAINED CASH CREDITS / DEPOSITS ADDITION OF 22,03,540/- DESERVES TO BE RESTRICTED TO THE EXTENT OF 30,000/- ONLY. THE ASSESSEE GETS PART RELIEF. 3. NEXT COMES UNDISCLOSED DRAWING ADDITION AMOUNT O F 1 LAC ADDED IN BOTH THE LOWER PROCEEDINGS. THE CIT(A)S DISCUSSION TO THIS EFFECT HAS ALREADY TAKEN INTO CONSIDERATION THE ASSESSEES SOCIO ECONO MIC STATUS IN PARA-14 OF HIS LOWER APPELLATE ORDER. I SEE NO REASON TO INTERFERE IN THE IMPUGNED ADDITION. THIS LATTER SUBSTANTIVE GROUND IS DECLINED. ITA NO.332/KOL/2019 A.Y. 2008 -09 AMIT MUKHOPADHYAY VS. ITO WD-1(2) DGP PAGE 3 4. THIS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOV E TERMS. ORDER PRONOUNCED IN OPEN COURT ON 30/08/2019 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS - 30/08/2019 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-AMIT MUKHOPADHYAY, NATURAL HEIGHTS,BLOCK 1, 5C DURGAPUR, PIN-7 13213 2. /RESPONDENT-ITO WD-1(2) AAYAKAR BHAWAAN, 1 ST FL, AAYAKAR BITHI, CITY CENTER, DURGAP UR-713216 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ ',