ITO Ward 1(2), Gwalior V. Shri Chander Kumar Gangwani, Prop, Gwalior

ITA 371/AGR/2009

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 7054 (ITAT-AGRA)
• Duration Of Justice: 1 year(s) 7 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-04-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 19-04-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 09-09-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M K SRIVASTAVA
• Assessee Lawyers: ASHOK VIJAYWARGIYA
• Keywords: Unexplained cash credit
• Section: 143(3); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH, AGRA BEFORE SHRI P.K. BANSAL, ACCOUNTANT MEMBER AND SHRI H.S. SIDHU, JUDICIAL MEMBER ITA NO.371/AGR/2009 ASST. YEAR: 2006-07 INCOME TAX OFFICER, VS. SHRI CHANDRA KUMAR GANGW ANI, WARD 1(2), GWALIOR. PROP. M/S. SHATABDI TRAVE LS, GWALIOR. (PAN : ADBPG 0225 G). (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI M.K. SRIVASTAVA, SR. D.R. RESPONDENT BY : SHRI ASHOK VIJAYWARGIYA, C.A. ORDER PER H.S. SIDHU, J.M. : THE REVENUE HAS FILED THE PRESENT APPEAL AGAINST TH E ORDER DATED 28.05.2009 PASSED BY THE LD. CIT(A), GWALIOR ON THE FOLLOWING GROUNDS :- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE, THE LEARNED C.I.T.(APPEALS) HAS ERRED IN DELETING THE ADDITION MADE U/S.68 ON ACCOUNT OF UNEXPLAINED CASH CREDIT TO ` 20,85,000/-. 2. THE APPELLANT CRAVERS LEAVE TO ADDITION/ALTER TH E GROUNDS OF APPEALS. 2 2. THE ASSESSING OFFICER HAS MADE VARIOUS ADDITIONS INCLUDING THE ADDITION IN DISPUTE I.E. ` 20,85,000/- UNDER SECTION 68 OF THE INCOME TAX ACT, 1961 (THE ACT HEREINAFTER) ON ACCOUNT OF UNEXPLAINED CASH CREDIT AND COMPLETED THE ASSESSMENT ON 29.12.2008 UNDER SECTION 143(3) OF THE ACT. AGGRIE VED BY THE SAME, THE ASSESSEE FILED APPEAL BEFORE THE LD. FIRST APPELLATE AUTHORI TY, WHO VIDE ORDER DATED 28.05.2009, PARTLY ALLOWED THE APPEAL OF THE ASSESS EE BY DELETING THE ADDITION IN DISPUTE. NOW, THE REVENUE HAS FILED THE PRESENT AP PEAL AGAINST THE IMPUGNED ORDER. 3. THE LD. D.R. RELIED UPON THE ORDER PASSED BY THE ASSESSING OFFICER AND, ON THE CONTRARY, THE LD. COUNSEL FOR THE ASSESSED RELIED U PON THE ORDER PASSED BY THE LD. FIRST APPELLATE AUTHORITY. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE R ECORDS AVAILABLE WITH US. WE ARE OF THE CONSIDERED OPINION THAT THE ASSESSING OF FICER IS NOT JUSTIFIED IN MAKING THE ADDITION IN DISPUTE WHICH HAS RIGHTLY BEEN DELETED BY THE LD. FIRST APPELLATE AUTHORITY BY HOLDING THAT THE ASSESSEE HAS DISCHARG ED ITS ONUS BY FILING THE NECESSARY DOCUMENTARY EVIDENCE I.E. COPY OF ACCOUNTS DULY CON FIRMED BY THE CREDITORS GIVING COMPLETE NAME, ADDRESS AND PAN OF ALL THE CREDITORS . THE LD. FIRST APPELLATE 3 AUTHORITY HAS ALSO PERUSED THE WRITTEN SUBMISSION D ATED 29.12.2008 SUBMITTED BY THE ASSESSEE DURING THE COURSE OF ASSESSMENT PROCEE DINGS - ANNEX-P-1-3, COPY OF ACCOUNT WITH CONFIRMATION OF CREDITOR SHRI DAULATRA M GIVING COMPLETE ADDRESS AND PAN ANNEX-P-4, COPY OF ACCOUNT WITH CONFIRMATION OF CREDITOR SHRI RAJESH BHADORIYA GIVING COMPLETE ADDRESS AND PAN ANNEX-P -5, COPY OF ACCOUNT WITH CONFIRMATION OF CREDITOR SMT. KANCHAN GANGWANI, WIF E OF THE ASSESSEE GIVING COMPLETE ADDRESS AND PAN ANNEX-P-6-7, COPY OF ACK NOWLEDGEMENT OF RETURN OF INCOME OF CREDITOR SMT. KANCHAN GANGWANI, WIFE OF T HE ASSESSEE ANNEX-P-8, COPY OF BALANCE SHEET OF CREDITOR SMT. KANCHAN GANGWANI, WIFE OF THE ASSESSEE ANNEX- P-9. 5. THE LD. FIRST APPELLATE AUTHORITY HAS CONSIDERED AND APPRECIATED ALL THE AFORESAID EVIDENCES PRODUCED BY THE ASSESSEE BEFORE THE ASSESSING OFFICER AS WELL AS BEFORE THE LD. FIRST APPELLATE AUTHORITY AND DELETE D THE ADDITION IN DISPUTE. AFTER GOING THROUGH THE IMPUGNED ORDER, WE ARE OF THE CON SIDERED OPINION THAT THE LD. FIRST APPELLATE AUTHORITY HAS PASSED A WELL REASONED ORDE R ON THE BASIS OF DOCUMENTARY EVIDENCE AND RIGHTLY DELETED THE ADDITION IN DISPUT E. WE CONFIRM THE IMPUGNED ORDER BY DISMISSING THE APPEAL FILED BY THE REVENUE . 4 ITA NO.371/AGR/2009 ASST. YEAR: 2006-07 6. IN THE RESULT, APPEAL FIELD BY THE REVENUE IS DI SMISSED. (ORDER PRONOUNCED IN THE OPEN COURT ON 21.04.2011). SD/- SD/- (P.K. BANSAL) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER PLACE: AGRA DATE: 21 ST APRIL, 2011 PBN/* COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT BY ORDER 3. CIT CONCERNED 4. CIT (APPEALS) CONCERNED 5. DR, ITAT, AGRA BENCH, AGRA 6. GUARD FILE ASSISTANT REGISTRAR INCOME-TAX APPELLATE TRI BUNAL, AGRA TRUE COPY