Sri Shridhar Shantinath Patravali., Belgaum V. Income Tax Officer Ward-2 (1), Belgaum

ITA 399/PAN/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93483 (ITAT-PANAJI)
• Duration Of Justice: 1 year(s) 6 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 16-06-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 13-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MEHBOOB ALI KHAN
• Assessee Lawyers: ASHOK A KULKARNI
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI GEORGE MATHAN , HONBLE JUDICIAL MEMBER AND SHRI N.K. BILLAIYA , HONBLE ACCOUNTANT MEMBER ITA NO. 39 9/PNJ/2013 (ASST. YEAR : 200 8 - 0 9 ) SRI SHRIDHAR SHANTINATH PATRAVALI, PROP. ARIHANT TRANSPORT, NO. 1012/A, 9 TH CROSS, BHAGYANAGAR, BELGAUM. VS. ITO , WARD - 2(1), BELGAUM . PAN NO. AIZPP 0322 K (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI ASHOK A. KULKARNI ADV. DEPARTMENT BY : SHRI MEHBOOB ALI KHAN - D.R. DATE OF HEARING : 1 6 / 0 6 /2015 . DATE OF PRONOUNCEMENT : 16 / 0 6 /201 5 . O R D E R PER N.K. BILLAIYA THIS APPEAL WAS DECIDED BY THE TRIBUNAL VIDE ORDER DATED 19/ 11/2014 . A GAINST WHICH , THE ASSESSEE PREFERRED A MISC. APPLICATION N O . 08/PNJ/2015 , WHEREIN THE ASSESSEE HAD PLEADED THAT WHILE DECIDING THE APPEAL, THE TRIBUNAL HAS NOT DECIDED GROUND NO.2 BEFORE IT, WHICH HAS RESULTED INTO A MISTAKE APPARENT FROM RECORD. ACCEPTING ITS MISTAKE , THE TRIBUNAL IN M.A.NO. 08/PNJ/2015 , HAS RECALLED THE 2 ITA NO. 399 /PNJ/2013 ORDER OF THE TRIBUNAL DATED 16/10/2014 FOR THE LIMITED PURPOSE OF ADJUDICATION OF GROUND NO.2 ONLY. THEREFORE, IN THE PRESENT APPEAL WE ARE SEIZED WITH THE ADJUDICATION OF GR O UND NO. 2 W HICH READS T HE HONBLE LD. CIT(A) ERRED IN CONFIRMING THE ADDITIONS MADE BY THE ASSESSING OFFICER U/S. 68 OF THE ACT 2. WE HAVE HEARD RIVAL PARTIES AT LENGTH AND HAVE CAREFULLY PERUSED THE ORDERS OF THE AUTHORITIES BELOW. WHILE SCRUTINIZING THE RETURN OF INCOME, THE ASSESSING OFFICER FOUND TH A T RS. 3.60 LAC. WAS FOUN D TO BE CREDITED IN THE NAME OF FATHER OF THE ASSESSEE AND RS. 60,000/ - WAS FOUND TO BE CREDITED IN THE NAME OF WIFE OF THE ASSESSEE. THE ASSESSEE WAS ASKED TO JUSTIFY THE CREDIT ENTRIES IN THE LIGHT OF PROVISIONS OF SEC. 68 OF THE ACT. THE ASSESSEE FILED NECESSARY DETAILS WHICH WERE IN THE FORM OF INCOME - TAX RETURNS OF HIS FATHER AND HIS WIFE FOR THE YEAR UNDER CONSIDERATION. THE ASSESSING OFFICER DISMISSED THE CLAIM OF T HE ASSESSEE HOLDING THAT THE ASSESSEE HAS FAILED TO ESTABLISH THE CREDITWORTHINESS OF THE ASSESSEE AND MADE THE ADDITIONS U/S. 68 OF THE ACT. AGGRIEVED BY THIS, ASSESSEE CARRIED THE MATTER BEFORE THE LD.CIT(A) . 3. BEFORE US, COUNSEL FOR THE ASSESSEE DREW OUR ATTENTION TO THE DOCUMENTS FILED BEFORE THE ASSESSING OFFICER DURING THE COURSE OF 3 ITA NO. 399 /PNJ/2013 ASSESSMENT PROCEEDINGS. ON PERUSING THE DOCUMENTS, WE FIND THAT THE ASSESSEE HAS FILED COPY OF INCOME TAX RETURNS IN THE NAME O F HIS FATHER AND HIS WIFE WHICH ARE EXHIBITED AT PAGE C - 43 & C - 46 RESPECTIVELY . INTERESTINGLY, BOTH THE RETURNS WERE FILED BEFORE THE SAME ASSESSING OFFICER AS THAT OF THE ASSESSEE. IN OUR CONSIDERED OPINION, THE ASSESSING OFFICER HAS NOT MADE ANY INDEPE NDENT ENQUIRY TO DISPROVE THE CREDITWORTHINESS OF THE CREDITORS OR TO BRING ANY THING CONTRARY TO THE RETURN OF INCOME OF THE ASSESSEE. THE ASSESSEE HAS SUCCESSFULLY DISCHARGED THE ONUS C A ST UPON HIM BY THE PROVISIONS OF SEC. 68 OF THE ACT. WE, THEREFORE , SET ASIDE THE FINDINGS OF THE LD. CIT(A) AND DIRECT THE ASSESSING OFFICER TO DELETE THE IMPUGNED ADDITION. 4 . IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS, ACCORDINGLY, ALLOWED. ( ORDER PRONOUNCED IN THE OPEN COURT ON 1 6 TH JUNE , 201 5 ). S D / - S D / - ( GEORGE MATHAN ) ( N.K. BILLA I YA ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 1 7 T H JUNE , 201 5 . VR/ - 4 ITA NO. 399 /PNJ/2013 COPY TO: 1 . THE APPELLANT 2 . THE RESPONDENT 3 . THE LD. CIT 4 . THE CIT(A) 5 . THE D.R 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI 5 ITA NO. 399 /PNJ/2013 DATE INITIAL ORIGINAL DICTATION PAD IS ENCLOSED IN THE FILE 1. DRAFT DICTATED ON 1 6 .06.2015 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 1 6 .06.2015 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 1 7 /06/2015 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER 1 7 /06/2015 JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS 1 7 /06/2015 SR.PS 6. DATE OF PRONOUNCEMENT 1 6 /06/2015 SR.PS 7. FILE SENT TO THE BENCH CLERK 17 /06/2015 SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER