USHA MAYUR THAKKAR, MUMBAI V. ACIT CEN CIR 18 &19, MUMBAI

ITA 3873/MUM/2009

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 7252 (ITAT-MUMBAI)
• Duration Of Justice: 9 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-03-2010
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Next Hearing Date: 28-04-2010
• Assessment Year: 2003-2004
• Appeal Filed On: 15-06-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIRENDRA OJHA
• Assessee Lawyers: B N RAO
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH F, MUMBAI BEFORE SHRI T.R. SOOD, AM AND SMT. ASHA VIJAYARAGH AVAN, JM I.T.A.NO.3873/MUM/2009 ASSESSMENT YEAR : 2003-04 MRS. USHA MAYUR THAKKAR, 21, KSHITIJ HILL ROAD, OPP. ST. ANDREWS CHURCH, BANDRA (W), MUMBAI 400 050. PAN: AABPT 3288 L VS. THE ASST. COMMISSIONER OF INCOME- TAX, CENTRAL CIRCLE 18 & 19, CGO BLDG., M.K. ROAD, MUMBAI 400 020. (APPELLANT ) (RESPONDENT) APPELLANT BY : SHRI B.N. RAO RESPONDENT BY : SHRI VIRENDRA OJHA O R D E R PER T.R. SOOD, AM: IN THIS APPEAL, THE ASSESSEE HAS RAISED THE FOLLOW ING GROUNDS: ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE 1. THE LD. CIT(A) ERRED IN NOT APPRECIATING THE FACTS AND DOCUMENTS SUBMITTED PROPERLY AND THEREFORE ERRED I N UPHOLDING THE ADDITION OF RS.20 LACS MADE BY THE AS SESSING OFFICER. 2. THE LD. CIT(A) OUGHT TO HAVE CONSIDERED THE DETAILE D SUBMISSION ALONG WITH THE BANK STATEMENT AND LEDGER ACCOUNT OF THE PARTY FROM WHOM THE PAYMENT WAS RECEIVED BY THE APPELLANT. 2. AFTER HEARING BOTH THE PARTIES, WE FIND THAT DUR ING THE ASSESSMENT PROCEEDINGS THE ASSESSING OFFICER NOTICED THAT THER E WAS A CREDIT AMOUNTING TO RS.20 LAKHS IN THE NAME OF SHRI HARESH V. MILANI. W HEN CONFIRMATION FROM THIS PARTY WAS FILED, IT WAS NOTICED THAT IT WAS NOT SIG NED BY SHRI HARESH V. MILANI. IT WAS FURTHER NOTICED THAT THERE WAS SOME DISCREPANCY IN THE CHEQUE NUMBER ALSO. THEREFORE, THE ADDITION WAS CONFIRMED. 4. THE ACTION OF THE ASSESSING OFFICER WAS CONFIRME D ON APPEAL BY THE LEARNED CIT(A). ITA 3873/M/09 USHA MAYUR THAKKAR 2 5. BOTH THE PARTIES WERE HEARD. AFTER CONSIDERING THE RIVAL SUBMISSIONS WE FIND THAT THERE MAY BE SOME TRUTH THAT MONEY HAS NO T COME AS CASH CREDIT BUT AS RETURN OF LOAN OR ADVANCE GIVEN BY THE ASSESSEE BEC AUSE THE ASSESSING OFFICER HAS ALSO NOTED THIS IN HIS ORDER AT PARA 1, THE RELEVA NT EXTRACT IS AS UNDER: . ON SPECIFIC QUERY RAISED, IT IS SUBMITTED BY T HE ASSESSEE THAT THE CREDIT ENTRY APPEARING IN HER ACCOUNT IS IN RE SPECT OF REPAYMENT OF LOAN RECEIVED FROM ONE MR. HARESH V. MILANI. .. 6. SINCE, THERE IS CONFUSION IN THE CONFIRMATION O F THE PARTY AND SIGNATURES ARE ALSO NOT THERE, BUT IT MAY BE A CASE OF REPAYME NT OF LOAN AND IT WAS SUGGESTED BY THE LEARNED COUNSEL FOR THE ASSESSEE THAT THEY A RE READY TO PRODUCE SHRI HARESH V. MILANI BEFORE THE ASSESSING OFFICER AND C LARIFY EVERYTHING. THEREFORE, IN THE INTEREST OF JUSTICE, WE SET ASIDE THE ORDER OF THE LEARNED CIT(A) AND DIRECT THE ASSESSING OFFICER TO RE-EXAMINE THE ISSUE AND DEC IDE THE SAME AFTER RECORDING THE STATEMENT FROM SHRI HARESH V. MILANI. AS AGREED BY THE LEARNED COUNSEL FOR THE ASSESSEE, ASSESSEE IS DIRECTED TO PRODUCE SHRI HARE SH V. MILANI BEFORE THE ASSESSING OFFICER. 7. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. ORDER PRONOUNCED ON THIS 24 TH DAY OF MARCH 2010. SD. SD. (ASHA VIJAYARAGHAVAN) (T. R. SOOD) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI DATED THE 24 TH MARCH, 2010. KN COPY TO: 1. 2. THE ASSESSEE 3. THE REVENUE 4. THE CIT, CENTRAL III, MUMBAI 5. THE CIT (A) CENTRAL-VI, MUMBAI 6. THE DR, F BENCH, MUMBAI BY ORDER /TRUE COPY/ ASST. REGISTRAR, ITAT, MUMBAI ITA 3873/M/09 USHA MAYUR THAKKAR 3