Shri Premsingh S/o Nathusingh, Indore V. The ITO 3(3), Indore

ITA 35/IND/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 98963 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 7 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 09-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA

Judgement Text

PREM SINGH ITA NO.35/IND/2014 1 IN THE INCOME TAX APPELLATE TRIBUNA L INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, HONBLE JUDICIAL MEMBER AND SHRI B.C. MEENA, HONBLE ACCOUNTANT MEMBER ITA NO. 35/IND/2014 A.Y.2008-09 PREMSINGH S/O NATHUSINGH INDORE PAN BBDDPT 3683F ::: APPELLANT VS INCOME TAXOFFICER 3(3) INDORE ::: RESPONDENT APPELLANT BY WRITTEN SUBMISSIONS RESPONDENT BY SHRI R.A. VERMA DATE OF HEARING 24.8.2015 DATE OF PRONOUNCEMENT 2 4 .8.2015 O R D E R PER SHRI B.C. MEENA, AM THIS APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF THE LEARNED CIT(A)-I, INDORE, DATED 22.1 0.2013. PREM SINGH ITA NO.35/IND/2014 2 2. NONE ATTENDED ON BEHALF OF THE ASSESSEE AT THE TIME OF HEARING. HOWEVER, THE ASSESSEE HAS FILED WRITTEN SUBMISSIONS WHICH ARE REPRODUCED AS UNDER :- THE ONLY ISSUE INVOLVED IS ADDITION OF RS.30,00,000 DEPOSITED IN THE BANK A/LEARNED CIT(A) OF THE ASSESSEE. THE ASSESSEE IS AN AGRICULTURIST. THERE WAS A PROPOSAL TO SALE AGRICULTURAL LAND. TWO BROKERS S.SHRI KAILASH MORI & NARENDRA BAXI SETTLED THE DEAL. SHRI BAXI UNDER HIS SIGNATURE DEPOSITED THE AMOUNTS IN BANK ACCOUNT OF ASSESSEE A/C NO 2151, UNION BANK OF INDIA, GANDHI NAGAR, INDORE. DATE AMOUNT DEPOSITED BY 20.11.07 RS.10,00,000 CASH P.B. 6 NARENDRA BAXI 24.11.07 RS.20,00,000 CHEQUE P.B. NARENDRA BAXI THROUGH CHEQUE NO.44596 OF UBI, GANDHI NAGAR, INDORE PREM SINGH ITA NO.35/IND/2014 3 THE DEAL DID NOT MATURE. THE AMOUNT WAS WITHDRAWN ON 12.12.07 AND RETURNED TO THE BROKERS VIDE HIS BANK ACCOUNT P.B.5. THE APPELLANT OBTAINED A RECEIPT DATED 18.12.2009 FOR RETURN OF RS.30,00,000. THE RECEIPT WAS ACKNOWLEDGED BY S. SHRI KAILASH MORI AND NARENDRA BAXI P.B. 8. THESE FACTS WERE SPECIALLY BROUGHT TO THE NOTICE OF LD. CIT(A) VIDE P.B. 11, 13, 14. THE RECEIPT FOR REFUND OF RS.30,00,000 WAS ALSO SUBMITTED TO THE LD. CIT(A0. STELL HE WRITES THAT NO SUCH EVIDENCE WAS PRODUCED WHEN P.B.11, 13 HAVE BEEN SPECIFICALLY ATTESTED BY THE LD. CIT(A). THE ADDITION MAY KINDLY BE DELETED. WITHOUT PREJUDICE TO THE ABOVE : PREM SINGH ITA NO.35/IND/2014 4 1. THE LAND WAS NOT SOLD 2. THE APPELLANT EARNED ONLY AGRICULTURAL INCOME P.B.1,2 & 3 3. IN VIEW OF THE FOLLOWING DECISIONS, IT HAS TO BE ASSESSED AS AGRICULTURAL INCOME. (I) LAXMICHAND BAIJNATH 35 ITR 416(SC) (II) KRISHNA KUMAR PALIWAL 9 ITJ 348 (INDORE) (III)ITO V. SMT. SHANAJ BANU ITA 443/IND/04 (IV) NARENDRA BADJATIA V. ITO ITA 537/IND/06 3. AFTER HEARING THE LEARNED DR, WE ARE OF THE VIEW TH AT THE ISSUE REQUIRES A FRESH LOOK BY THE ASSESSING OFFI CER. WE, THEREFORE, DIRECT THE ASSESSING OFFICER TO DECI DE THE ISSUE AFTER PROVIDING THE ASSESSEE AN OPPORTUNITY OF B EING HEARD. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN OPEN COURT ON 24 TH AUGUST, 2015 SD SD (D.T. GARASIA) (B.C. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER 27 TH AUGUST, 2015 PREM SINGH ITA NO.35/IND/2014 5 DN/-