MAYUR R. JOSHI, MUMBAI V. ITO 32(2)(3), MUMBAI

ITA 3347/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 0690 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-05-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 12-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M C OMI NINGSHEN
• Assessee Lawyers: S C TIWARI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH H, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA NO.3347/M/2016 ASSESSMENT YEAR: 2009-10 SHRI MAYUR R. JOSHI, B/16, SAI BABA DHAM, SAI BABA NGR. SV. ROAD, BORIVALI (W), MUMBAI 400 092 PAN: AFCPJ 4545C VS. INCOME TAX OFFICER-32(2)(3), MUMBAI - 400020 (APPELLANT) (RESPONDENT) PRESENT FOR: ASSESSEE BY : SHRI S.C. TIWARI, A.R. & MS. RUTU JA N. PAWAR, A.R. REVENUE BY : SHRI M.C. OMI NINGSHEN, D.R. DATE OF HEARING : 11.04.2017 DATE OF PRONOUNCEMENT : 12.05.2017 O R D E R PER D.T. GARASIA, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSES SEE AGAINST THE ORDER DATED 10.03.2016 OF THE COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFTER REFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT Y EAR 2009-10. 2. THE SHORT FACTS OF THE CASE ARE THAT THE ASSESSI NG OFFICER (HEREINAFTER REFERRED TO AS THE AO) FOUND THAT THERE ARE UNEXPLA INED CASH CREDITS IN TWO BANK ACCOUNT NOS.018010100501576 AND 01801010035945 0 WITH AXIS BANK AND ADDED RS.55,37,660/- TO INCOME OF THE ASSESSEE AS THE ASSESSEE COULD NOT PRODUCE THE SOURCE OF THIS CASH DEPOSITS WITH AXIS BANK. THE MATTER WENT UP TO TRIBUNAL AND THE TRIBUNAL HAS DIRECTED THE AO TO RE-EXAMINE THE SAME. THE ASSESSEE WAS DIRECTED TO PRODUCE THE CASH BOOK, BAN K STATEMENT AND LIST OF NON DEPOSIT WITHDRAWALS BUT ASSESSEE DID NOT AVAIL THE OPPORTUNITY. THEREFORE, AFTER GOING THROUGH THE RECORD, THE AO MADE THE ADDITION. ITA NO.3347/M/2016 SHRI MAYUR R. JOSHI 2 3. THE MATTER CARRIED TO LD. CIT(A) AND THE LD. CIT (A) HAS DISMISSED THE APPEAL OF THE ASSESSEE. 4. DURING THE COURSE OF HEARING, THE LD. A.R. SUBMI TTED BEFORE US THAT THE ASSESSEE WAS NOT ABLE TO PRODUCE THE BANK STATEMENT . THE BANK STATEMENT IS PRODUCED FOR THE FIRST TIME, THEREFORE, IT REQUIRES VERIFICATION AT THE STAGE OF AO AND MATTER MAY BE DECIDED AFRESH. 5. THE LD. D.R. HAS NO OBJECTION, IF THE MATTER IS RESTORED TO AO. 6. HAVING HEARD BOTH THE PARTIES, WE FIND THAT DURI NG THE COURSE OF HEARING LD. A.R. HAS PRODUCED THE STATEMENT OF AXIS BANK FR OM 01.04.08 TO 31.03.09 WHEREIN ALL THE ENTRIES RELATING TO ASSESSEE HAVE B EEN REFLECTED. THEREFORE, WE REVERSE THE FINDING OF LD. CIT(A) AND RESTORE THIS MATTER BACK TO THE FILE OF THE AO TO VERIFY THE BANK STATEMENT, CASH BOOK, DAILY C ASH SUMMARY AND LIST OF NON DEPOSITS OF WITHDRAWALS AND DECIDE THE MATTER A FRESH AFTER GIVING DUE OPPORTUNITY OF HEARING. 7. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED . ORDER PRONOUNCED IN THE OPEN COURT ON 12.05.2017. SD/- SD/- (MANOJ KUMAR AGGARWAL) (D.T. GARASIA) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 12.05.2017. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ ITA NO.3347/M/2016 SHRI MAYUR R. JOSHI 3 BY ORD ER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.