RAMASHRAY R. YADAV, THANE V. ITO WD 4(3), THANE

ITA 3501/MUM/2015

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 3614 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-07-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 08-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A RAMACHANDRANDR
• Keywords: Unexplained investment

Judgement Text

, - , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC, MUMBAI , ! ' , BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, ITA NO.3501/MUM/2015 ASSESSMENT YEAR: 2009-10 RAMASHRAY R. YADAV, SHOP NO.1, ADARSH COMMERCIAL CENTRE, BEHIND GURUDWARA, VASAI WEST, THANE, MAHARASHTRA-401202 / VS. ITO-(4)-3, ROOM NO.4, 6 TH FLOOR, A-WING, ASHAR IT PARK, ROAD-16Z, WAGLE, INDUSTRIAL ESTATE, THANE (EAST), THANE-400604 / ASSESSEE / REVENUE P.A. NO . AAOPY1498A $ % & / ASSESSEE BY NONE $ % & / REVENUE BY SHRI A.RAMACHANDRAN-DR / DATE OF HEARING 05/07/2016 & / DATE OF ORDER: 05/07/2016 ITA NO.3501/MUM/2015 RAMASHRAY R. YADAV 2 & / O R D E R THE ASSESSEE IS AGGRIEVED BY AN EX-PARTE IMPUGNED ORDER DATED 25/03/2015 OF THE LD. FIRST APPELLATE AUTHORITY, MUMBAI, CHALLENGING THE ADDITION MADE ON ACCOUNT OF UNEXPLAINED DEPOSITS AND UNEXPLAINED INVESTMENT ON SHARE TRANSACTIONS. 2. DURING HEARING OF THIS APPEAL, NONE WAS PRESENT FOR THE ASSESSEE IN SPITE OF ISSUANCE OF REGISTERED AD NOTICE ON 13/06/2016. THE ASSESSEE NEITHER PRESENTE D HIMSELF NOR MOVED ANY ADJOURNMENT PETITION. IT SEEM S THAT THE ASSESSEE HAS NOTHING TO SAY, THEREFORE, I HAVE NO OPTION BUT TO PROCEED EX-PARTE, QUA THE ASSESSEE, A ND TEND TO DISPOSE OF THIS APPEAL ON THE BASIS OF MATERIAL AVAILABLE ON RECORD. THE LD. DR, SHRI A. RAMACHANDRAN, THOUGH DEFENDED THE ADDITION BUT CONTENDED THAT DUE TO NON - APPEARANCE OF THE ASSESSEE, AN EX-PARTE ORDER HAS B EEN PASSED BY THE LD. COMMISSIONER OF INCOME TAX (APPEA L). 2.1. I HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. THE FACT S, IN BRIEF, THE ASSESSEE IS ENGAGED IN THE TRADING OF CE MENT AND BUILDING MATERIAL, FILED ORIGINAL RETURN ON 08/09/2 009, DISCLOSING INCOME OF RS.2,14,350/-. DURING ASSESSM ENT PROCEEDINGS, THE LD. ASSESSING OFFICER ASKED THE AS SESSEE TO FURNISH DETAILS OF TRANSPORT BUSINESS, AMBIKA AUTOMOBILES/CASH DEPOSITS AND DETAILS OF SHARE ITA NO.3501/MUM/2015 RAMASHRAY R. YADAV 3 TRANSACTIONS. AS PER THE STATEMENT OF FACTS, THE AS SESSEE FURNISHED THE DETAILS ALONG WITH CASH FLOW STATEMEN T. HOWEVER, THE LD. ASSESSING OFFICER TREATED THE CASH DEPOSITS AS UNEXPLAINED AND ADDED TO THE TOTAL INCO ME. IT IS ALSO NOTED THAT THE ASSESSEE ALSO FURNISHED THE DETAILS OF SALE AND PURCHASE OF SHARES, WHICH WERE CLAIMED TO BE NOT CONSIDERED BY THE ASSESSING OFFICER AND FURTHER SUM MONS WERE NOT ISSUED TO THE SHARE BROKERS, IN SPITE OF T HE FACT THAT NECESSARY DETAILS WERE PROVIDED BY THE ASSESSE E. IT IS NOTED THAT ON APPEAL BEFORE THE LD. COMMISSIONER OF INCOME TAX (APPEAL), THE ORDER WAS DECIDED EX-PARTE AS NEITHER ANYBODY FOR THE ASSESSEE NOR FROM THE DEPAR TMENT WAS PRESENT BEFORE THE LD. COMMISSIONER OF INCOME T AX (APPEAL). CONSIDERING THE TOTALITY OF FACTS, I AM OF THE VIEW THAT NO PERSON SHOULD BE CONDEMNED UNHEARD. AT THE SAME TIME, THE ASSESSEE IS ALSO DIRECTED TO BE VIGI LANT IN FUTURE AND IS DIRECTED TO APPEAR BEFORE THE LD. COMMISSIONER OF INCOME TAX (APPEAL) WITHIN TWO MONT HS FROM THE RECEIPT OF THIS ORDER. THE LD. COMMISSIONE R OF INCOME TAX (APPEAL) IS FREE TO DECIDE THE APPEAL ON A MUTUALLY AGREED DATE. IT IS MADE CLEAR, IF THE ASSE SSEE STILL DOES NOT APPEAR WITHIN THE AFORESAID STIPULATED PER IOD THEN THE APPEAL MAY BE DECIDED ON THE BASIS OF MATE RIAL AVAILABLE ON RECORD. THE ASSESSEE BE GIVEN OPPORTUN ITY OF BEING HEARD WITH FURTHER LIBERTY TO FURNISH EVIDENC E, IF ANY, IN SUPPORT OF HIS CLAIM. THUS, THE APPEAL OF THE AS SESSEE IS ALLOWED FOR STATISTICAL PURPOSES ONLY. ITA NO.3501/MUM/2015 RAMASHRAY R. YADAV 4 FINALLY, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES ONLY. THIS ORDER WAS PRONOUNCED IN THE OPEN IN THE PRESENCE OF LD. DR AT THE CONCLUSION OF THE HEARING ON 05/07/2016. SD/- (JOGINDER SINGH) ! ' / JUDICIAL MEMBER MUMBAI; DATED : 05/07/2016 F{X~{T? P.S / ! & $ )!*+ ,&+-* / COPY OF THE ORDER FORWARDED TO : 1. '#$%& / THE APPELLANT 2. '(%& / THE RESPONDENT. 3. ) ) * ( '#$ ) / THE CIT, MUMBAI. 4. ) ) * / CIT(A)- , MUMBAI 5. -./ ' , ) '#$ ' 1 , / DR, ITAT, MUMBAI 6. /2 3$ / GUARD FILE. & / BY ORDER, (-# ' //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI