Smt. Prakriti Sengupta , Kolkata V. ITO, Ward - 41(3), Kolkata , Kolkata

ITA 402/KOL/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0154 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 09-03-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: PROVAS ROY
• Assessee Lawyers: P J BHIDE
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER] I.T.A. NO. 402/KOL/2018 ASSESSMENT YEAR: 2012-13 SMT. PRAKRITI SENGUPTA.........APPELLANT 30/65/B, ATTAPARA LANE KOLKATA 700 050 [PAN : ARVPS 6327 C] INCOME TAX OFFICER, WARD-41(3), KOLKATA...RESPONDENT APPEARANCES BY: SHRI P.J. BHIDE, A/R, APPEARED ON BEHALF OF THE ASSESSEE. SHRI PROVAS ROY, JCIT, APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : NOVEMBER 26 TH , 2018 DATE OF PRONOUNCING THE ORDER : DECEMBER 5 TH , 2018 O R D E R PER J. SUDHAKAR REDDY :- THIS APPEAL FILED BY THE ASSESSE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) -13, (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 20/11/2017, FOR THE ASSESSMENT YEAR 2012-13. 2. WE HAVE HEARD RIVAL CONTENTIONS. ON CAREFUL CONSIDERATION OF THE FACTS AND CIRCUMSTANCES OF THE CASE, PERUSAL OF THE PAPERS ON RECORD, ORDERS OF THE AUTHORITIES BELOW AS WELL AS CASE LAW CITED, WE HOLD AS FOLLOWS:- 3. GROUND NO.1, IS AGAINST THE ADDITION MADE U/S 68 OF THE ACT. THE ASSESSEE HAD RECEIVED RS.15 LAKHS AS LOAN DURING THE PREVIOUS YEAR BY WAY OF TWO CHEQUES. THE FIRST BEING RS.2,50,000/-, VIDE CHEQUE NO. 002459 DEPOSITED IN THE BANK ACCOUNT ON 15/12/2010 AND RS.12,50,000/-, FOR THE ACCOUNT PAYEE CHEQUE NO. 002710 DEPOSITED IN THE BANK ACCOUNT ON 31/03/2011 AGGREGATING TO RS.15,00,000/- FROM M/S. PASARI MULTI PROJECTS PVT. LTD. HENCE THESE CHEQUES WERE CREDITED BY THE ASSESSEE IN ITS BANK ACCOUNTS PRIOR TO 31/03/2011 RELEVANT TO THE ASSESSMENT YEAR 2010-11. THE ASSESSEE CLAIMS THAT IT RECEIVED THE MONEY IN QUESTION THROUGH ACCOUNT PAYEE CHEQUES BUT INADVERTENTLY THE ACCOUNTANT OF THE ASSESSEE HAS NOT MADE ENTRIES OF THESE CHEQUE RECEIPTS. IT WAS SUBMITTED THAT IT 2 I.T.A. NO. 402/KOL/2018 ASSESSMENT YEAR: 2012-13 SMT. PRAKRITI SENGUPTA WAS ON 01/04/2011 THAT THESE CHEQUES WERE ENTERED IN THE BOOKS OF ACCOUNTS OF THE ASSESSEE. ON A QUERY FROM THE ASSESSING OFFICER, THE LD. CIT(A) WAS OF THE VIEW THAT THE ADDITION MADE BY THE ASSESSING OFFICER HAS TO BE SUSTAINED AS THE CORRESPONDING ASSET WAS NOT FOUND IN THE BALANCE SHEET OF THE ASSESSEE. 3.1. IN MY VIEW, UNLESS A BANK RECONCILIATION STATEMENT IS PREPARED FOR THE YEAR ENDING 31/03/2011, THE FACTS WOULD NOT BE PROPERLY REFLECTED. THUS, WE SET ASIDE THIS ISSUE TO THE FILE OF THE ASSESSING OFFICER WITH A DIRECTION TO EXAMINE THE DATE OF RECEIPT OF CASH CREDIT AS WELL AS THE BANK RECONCILIATION STATEMENTS FURNISHED BY THE ASSESSEE FOR THE YEAR ENDING 31/03/2011. ACCORDINGLY, GROUND NO. 1 OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. 4. GROUND NO.2, READS AS FOLLOWS:- 2. THAT IN PARTICULAR, THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-13, KOLKATA, ERRED IN CONFIRMING THE ADDITION/DISALLOWANCE MADE BY THE APPELLANT TO THE INCOME RETURNED. 4.1. THIS GROUND IS ERRONEOUS AS THE APPELLANT IS IN THIS CASE IS THE ASSESSEE AND HE HAS NOT MADE ANY ADDITION/DISALLOWANCE SUO MOTO. IN ANY EVENT, I DO NOT FIND ANY REASON TO INTERFERE IN THE DECISION OF THE LD. CIT(A) ON THE ISSUE THAT THE ASSESSEE SEEKS TO ARISE VIDE THIS GROUND. HENCE GROUND NO. 2, IS DISMISSED. 5. GROUND NOS. 3 & 4 ARE GENERAL IN NATURE. 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED IN PART. KOLKATA, THE 5 TH DAY OF DECEMBER, 2018. SD/- [ J. SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 05.12.2018 {SC SPS} 3 I.T.A. NO. 402/KOL/2018 ASSESSMENT YEAR: 2012-13 SMT. PRAKRITI SENGUPTA COPY OF THE ORDER FORWARDED TO: 1. SMT. PRAKRITI SENGUPTA 30/65/B, ATTAPARA LANE KOLKATA 700 050 2. INCOME TAX OFFICER, WARD-41(3), KOLKATA 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES