The ITO, Ward-2, GANDHIDHAM V. Shri Kuldeep B. Saklecha, GANDHIDHAM

ITA 393/RJT/2016

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 9635 (ITAT-RAJKOT)
• Duration Of Justice: 5 year(s) 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-01-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 09-10-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R K D O I
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT (THROUGH VIRTUAL COURT) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER I. T. A. N o. 39 3/ Rj t/ 20 16 (A ss es s men t Ye ar: 20 11 -1 2) IT O W ar d- 2, Ga nd hin ag ar बनाम/ V s . Sh ri Ku ld ee p Bh ag wa nch an d Sa k lec ha Pr op. : M/ s. J ai Ka il ash Tra de rs , Pl ot No . 3 14, W ar d. 12 /B , Ga nd hi dha m थायीलेखासं. /जीआइआरसं. / P A N / G I R N o .: A P W P S 1 9 9 0 Q (अपीलाथ /Appellant) . . ( यथ / Respondent) अपीलाथ ओर से/Appellant by : Shri B. D. Gupta, Sr. DR यथ क ओरसे / Respondent by: S h r i R . K . D o s h i , A R स ु नवाईक तार ख/ D a t e o f H e a r i n g 25/01/2022 घोषणाक तार ख /D a t e o f P r o n o u n c e m e n t 27/01/2022 आदेश/O R D E R PER Ms. MADHUMITA ROY - JM: The appeal filed by the Revenue for A.Y. 2011-12, arise from order of the CIT(A)-2, Rajkot dated 25.07.2016, in proceedings under Section 143(3) of the Income Tax Act, 1961; in short “the Act”. 2. The g ro un d of ap pe al ra ise d b y t he R e ven ue r ea ds as u nd er: - “ 1 . T h e l d . C I T ( A ) h a s e r r e d i n l a w a n d f a c t s d e l e ti n g t h e a d d i t i o n o f R s . 6 2 , 1 8 , 0 0 0 / - o n a c c o u n t o f u n e x p l a i n e d c a s h c r e di t s . 2 . T h e l d . C I T ( A ) h a s e r r e d i n l a w a n d f a c t s d e l e t in g t h e a d d i t i o n o f R s . 1 4 , 9 2 , 0 4 8 / - o n a c c o u n t o f u n e x p l a i n e d s e c u r i t y b u s i n e s s . 3 . T h e l d . C I T ( A ) h a s e r r e d i n l a w a n d f a c t s d e l e t i n g t h e a d d i t i o n o f R s . 1 2 , 5 0 , 0 0 0 / - o n a c c o u n t o f u n e x p l a i n e d c a p i t a l in t r o d u c e d . 4 . T h e l d . C I T ( A ) h a s e r r e d i n l a w a n d f a c t s d e l e t i ng t h e a d d i t i o n o f R s . 1 1 , 3 5 , 5 0 0 / - o n a c c o u n t o f u n e x p l a i n e d c a s h c r e di t . ITA No. 393/RJT/2016 [ITO vs. Shri Kuldeep Bhagwanchand Saklecha] A.Y. 2011-12 2 5 . T h e L d . C I T ( A ) h a s e r r e d i n l a w a n d o n f a c t s i n a c c e p t i n g t h e a s s e s s e e ’ s c o n t e n t i o n t h a t i n c o m e o f R s . 5 1 , 7 8 , 0 0 0 /- w a s g e n e r a t e d o u t o f u n d i s c l o s e d b u s i n e s s i n c o m e w i t h o u t a n y s u p p o r t in g o r c o r r o b o r a t i v e e v i d e n c e s . 6 . T h e l d . C I T ( A ) h a s e r r e d i n l a w a n d f a c t s i n a c ce p t i n g t h e a s s e s s e e ’ s c l a i m f o r l o s s o f R s . 5 5 , 0 1 , 1 4 5 / - o n a c co u n t o f t r a n s a c t i o n i n s e c u r i t i e s e s p e c i a l l y w h e n t h i s w a s n o t c l a i m e d i n t h e r e t u r n o r s c r u t i n y p r o c e e d i n g s . 7 . I t i s t h e r e f o r e p r a y e d t h a t t h e o r d e r o f l d . C I T( A ) b e s e t a s i d e a n d t h a t o f A O b e r e s t o r e d t o t h e a b o v e e x t e n t . ” 3. At th e t i me of he ari ng , i t wa s su b mitt ed b y t he L d. A R f or t he ass es se e t ha t a ppe a l f ile d b y t he Re ve nue is hi t b y r ec en t l y i ss ue d CB DT Cir cu la r N o. 17 o f 20 19 da ted 08 /08 /2 01 9 r ev isi ng t he pre vi ou s thr es ho ld s pe rt ain i ng t o ta x ef f ects . As p er af o resai d Ci rc ula r, a ll pen di ng ap pe als f ile d b y R eve nu e are lia bl e t o be dis mi ss ed as a mea su re f or re du ci ng l it ig ati on wh er e t he t ax ef f ect d oe s n ot exc ee d t he pre sc ri be d mo net ar y l i mit w hi ch i s no w r ev is ed a t Rs .5 0 Lak hs . I n th e ins ta nt ca se , t he ta x ef f ect on th e di sp ute d i ss ue s r ai se d b y t he Re ve nu e is st at ed t o be no t ex ce ed in g Rs .5 0 l akh s an d th er ef ore ap pe al of the Re ven ue i s req ui re d t o be d is mi ss ed i n l im in e. 4. The Le ar ned DR f o r th e Re ve nu e f air l y a d mi tt ed the ap pl ica bi li t y of th e CB DT C ir c ula r No . 17 of 2 01 9. Ac co rd in gl y, ap pe al of t he Re ven ue i s di s mis s ed as n ot mai nt ain abl e. Ho we ve r, it wil l be o pe n to the Re ven ue t o se e k res to ra ti on of it s app ea l on s ho wi ng ina pp li ca bil it y of th e af ore sa id C B DT C irc ul ar i n a n y ma nne r. 5. In the result, the appeal of the Revenue is dismissed. Sd/- Sd/- (WASEEM AHMED) (MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER Ahmedabad: Dated 27/01/2022 TANMAY, Sr. PS TRUE COPY TRUE TRUE COPY This Order pronounced in Open Court on 27/01/2022 ITA No. 393/RJT/2016 [ITO vs. Shri Kuldeep Bhagwanchand Saklecha] A.Y. 2011-12 3 आदेश क त ल प अ े षत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent. 3. संबं&धत आयकर आय ु (त / Concerned CIT 4. आयकर आय ु (त(अपील) / The CIT(A). 5. +वभागीय .त.न&ध, आयकर अपील य अ&धकरण, अहमदाबाद / DR, ITAT, Rajkot 6. गाड3 फाईल / Guard file. आदेशान ु सार/ BY ORDER, उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपील य अ!धकरण, राजोकट / ITAT, Rajkot 1 . D a t e o f d i c t a t i o n o n 2 7 . 0 1 . 2 0 2 2 ( L o w T a x E f f e c t F o r m a t ) 2 . D a t e o n w h i c h t h e t y p e d d r a f t i s p l a c e d b e f o r e t he D i c t a t i n g M e m b e r 2 7 . 0 1 . 2 0 2 2 3 . D a t e o n w h i c h t h e a p p r o v e d d r a f t c o m e s t o t h e S r .P . S . / P . S . . 0 1 . 2 0 2 2 4 . D a t e o n w h i c h t h e f a i r o r d e r i s p l a c e d b e f o r e t h e D i c t a t i n g M e m b e r f o r P r o n o u n c e m e n t . 0 1 . 2 0 2 2 5 . D a t e o n w h i c h t h e f a i r o r d e r c o m e s b a c k t o t h e S r. P . S . / P . S 2 7 . 0 1 . 2 0 2 2 6 . D a t e o n w h i c h t h e f i l e g o e s t o t h e B e n c h C l e r k 2 7 . 0 1 . 2 0 2 2 7 . D a t e o n w h i c h t h e f i l e g o e s t o t h e H e a d C l e r k ... ... ... .... 8 . T h e d a t e o n w h i c h t h e f i l e g o e s t o t h e A s s t t . R e gi s t r a r f o r s i g n a t u r e o n t h e o r d e r ... ... ... ... ... ... ... ... 9 . D a t e o f D e s p a t c h o f t h e O r d e r ... ... ...