DCIT, New Delhi V. Dr. Naresh Kumar Treham, New Delhi

ITA 376/DEL/2009

• Counselvise Citation: [2009] 115 COUNSELVISE.COM (IT) 2237 (ITAT-DELHI)
• Duration Of Justice: 10 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-12-2009
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 08-12-2009
• Assessment Year: 2005-2006
• Appeal Filed On: 30-01-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: H K LAL
• Keywords: Set aside

Judgement Text

I.T.A. NO.376EL/09 1/3 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH F NEW DELHI) BEFORE SHRI C.L. SETHI, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER I.T.A. NO. 376/DEL/2009 ASSESSMENT YEAR : 2005-06 DCIT, DR. NARESH KUMARTREHAN, CENTRAL CIRCLE-3, B-4, MAHARANI BAGH, NEW DELHI. V. NEW DELHI. (APPELLANT) (RESPONDENT) PAN /GIR/NO.AACPT-7305-F APPELLANT BY : SHRI HK LAL, SR. DR. RESPONDENT BY : SHRI RAHUL KHARE, AR. ORDER PER A.K. GARODIA, AM: THIS IS REVENUE'S APPEAL DIRECTED AGAINST THE ORDER OF LD CIT(A)-II, NEW DELHI DATED 20.11.2008 FOR ASSESSMENT YEAR 2005-06 . 2. BRIEF FACTS OF THE CASE ARE THAT IT IS NOTED BY THE ASSESSING OFFICER THAT THE ASSESSEE HAS RECEIVED A SUM OF RS.427.50 LAKHS AS M ATURITY AMOUNT TOWARDS KEYMAN INSURANCE POLICY OF LIC OF INDIA. THE ASSESS ING OFFICER ASKED THE ASSESSEE TO EXPLAIN AS TO WHY THE AFORESAID AMOUNT OF RS.427.50 LAKHS RECEIVED ON MATURITY OF KEYMAN POLICY SHOULD NOT BE BROUGHT TO TAX. IN REPLY, IT WAS SUBMITTED BY THE ASSESSEE THAT ADDITION, IF ANY, IS TO BE REGULATED AS PER THE TRIBUNAL DECISION IN THE CASE OF RAJAN NANDA IN I.T .A. NO.2805/DEL/2006 PERTAINING TO ASSESSMENT YEAR 2003-04 BUT THE ASSES SING OFFICER STATED THAT THE ABOVE DECISION WAS NOT ACCEPTED BY THE DEPARTMENT A ND THE APPEAL HAS BEEN FILED BY THE DEPARTMENT BEFORE THE HONBLE DELHI HI GH COURT. THE ASSESSING . I.T.A. NO.376/DEL/09 2/3 OFFICER, THEREFORE, DID NOT ACCEPT THE SUBMISSION O F THE ASSESSEE AND MADE THE ADDITION OF RS.427.50 LAKHS. BEING AGGRIEVED, THE ASSESEE CARRIED THE MATTER IN APPEAL BEFORE LD CIT(A) WHO CONFIRMED THE ASSESSMEN T ORDER ON THIS ISSUE WITH A DIRECTION TO THE ASSESSING OFFICER TO VERIFY THE AMOUNT PAID BY THE ASSESSEE TOWARDS THIS POLICY AND IF NO CLAIM OF THE AMOUNT P AID BY THE ASSESSEE WAS MADE IN RESPECTIVE YEARS, THE SAME MAY BE DEDUCTED FROM THE MATURITY VALUE OF RS.427.50 LAKHS AND ASSESS THE BALANCE AS INCOME RE CEIVED BY THE ASSESSEE TOWARDS KEYMAN POLICY. AGAINST THIS ORDER OF LD CI T(A), THE ASSESSEE WAS ALSO IN APPEAL AND WHILE DECIDING ASSESSEES APPEAL ON T HIS ISSUE FOR THE SAME YEAR, AS PER I.T.A. NO.468/DEL/2009 DATED 17.7.2009, THE TRIBUNAL HAS RESTORED BACK THE MATTER TO THE FILE OF THE ASSESSING OFFICER FOR A FRESH DECISION IN THE LIGHT OF THE DIRECTION OR OBSERVATION MADE BY THE TRIBUNAL I N THE CASE OF RAJAN NANDA IN I.T.A.NO.3793/DEL/2008 DATED 31.3.2009. NOW, THIS IS THE APPEAL OF THE REVENUE BEFORE US AGAINST THE RELIEF ALLOWED BY THE LD CIT( A). 3. IT WAS SUBMITTED BY THE LD AR OF THE ASSESSEE TH AT SINCE THE ISSUE HAS BEEN RESTORED BACK TO THE FILE OF THE ASSESSING OFF ICER BY THE TRIBUNAL AS PER ASSESSEES APPEAL FOR THE SAME ASSESSMENT YEAR CONN ECTED WITH THE SAME ISSUE, THE ISSUE INVOLVED IN THE APPEAL OF THE REVE NUE MAY ALSO BE RESTORED BACK TO THE FILE OF THE ASSESSING OFFICER FOR A FRESH DE CISION. 4. LD DR OF THE REVENUE ALSO AGREED AND ACCORDINGLY WE SET ASIDE THE ORDER OF THE LD CIT(A) ON THIS ISSUE AND RESTORE BACK THE MATTER TO THE FILE OF THE ASSESSING OFFICER FOR A FRESH DECISION AS PER THE D IRECTIONS CONTAINED IN THE TRIBUNAL ORDER IN ASSESSEES OWN CASE FOR THE SAME ASSESSMENT YEAR IN I.T.A. NO.468/DEL/2009 DATED 17.7.2009. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS ALLO WED FOR STATISTICAL PURPOSES. 6. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE O F HEARING I.E. 8.12.2009. SD/- SD/- (C.L. SETHI) (A.K. GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER DT. 8 .12.2009. HMS . I.T.A. NO.376/DEL/09 3/3 COPY FORWARDED TO:- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT (A)-, NEW DELHI. 5. THE DR, ITAT, LOKNAYAK BHAWAN, KHAN MARKET, NEW DELHI. TRUE COPY. BY ORDER (ITAT, NEW DELHI).