DCIT CIR 20(3), MUMBAI V. YUKTA I. MUKHI, MUMBAI

ITA 4063/MUM/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 4035 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-07-2013
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2007-2008
• Appeal Filed On: 08-06-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: BABAN D PATIL
• Assessee Lawyers: STANY SALDANHA
• Keywords: Opportunity of being heard; Additional evidence; Corroborative evidences
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH F, MUMBAI BEFORE SHRI RAJENDRA SINGH, ACCOUNTANT MEMBER AND DR. S.T.M. PAVALAN, JUDICIAL MEMBER ITA NO. 4063/MUM/2012 ASSESSMENT YEAR: 2007-08 DCIT CIR 20(3) 506 PIRAMAL CHAMBERS. LALBAUG, MUMBAI-400 012 VS. SMT. YUKTA I. MUKHI 1602, VALENCIA TOWER, SUNDERVAN COMPLEX, LOKHANDWALA COMPLEX, ANDHERI WEST, MUMBAI- 400 053 PAN: AENPM 6812 P (APPELLANT) (RESPONDENT) REVENUE BY : MR. BABAN D. PATIL ASSESSEE BY : MR. STANY SALDANHA DATE OF HEARING : 08.07.2013 DATE OF PRONOUNCEMENT : 24.07.2013 O R D E R PER DR. S.T.M. PAVALAN, JM: THIS APPEALS FILED BY THE REVENUE IS DIRECTED AGAI NST THE ORDER OF THE LD.CIT(A) -31, MUMBAI DATED 30.03.2012 FOR THE ASS ESSMENT YEAR 2007-08. 2. THE SOLITARY ISSUE ARISES OUT OF THE GROUNDS OF APPEAL RELATES TO THE ADDITION OF RS.50,74,200/- MADE BY THE AO U/S 68 OF THE INCO ME TAX ACT AND THE SAME DELECTED BY THE LD.CIT(A). 3. BRIEFLY STATED, THE ASSESSEE, AN INDIVIDUAL WHIL E DECLARING A TOTAL INCOME OF RS.35,17,016/- HAD IN THE BALANCE SHEET SHOWN RS.50 ,74,200/- AS UNSECURED LOAN. THE DETAILS OF WHICH WERE RS.50,00,000/- FROM M/S. SAHAYADRI AUTO ENGG. LTD. AND RS.8,74,200/- FROM THE ASSESSEES FATHER. HOWEVER, IN THE ASSESSMENT FRAMED U/S 143(3), THE AO MADE AN ADDITION OF RS.50,74,200/- U /S 68 OF THE IT ACT AS THE ASSESSEE HAD NOT EXPLAINED PROPERLY BY WAY OF DOCUM ENTARY EVIDENCE PERTAINING TO THE CLAIM OF THE ASSESSEE AS REGARDS THE UNSECURED LOAN. ITA NO. 4063/MUM/2012 SMT. YUKTA I. MUKHI ASSESSMENT YEAR: 2007-08 2 4. ON APPEAL, THE LD.CIT(A) RELIED ON ADDITIONAL EV IDENCE FILED BY THE ASSESSEE INCLUDING THE NECESSARY CONFIRMATION EXPLAINING THE SOURCES OF UNSECURED LOANS AND ADVANCES RAISED BY THE ASSESSEE DURING THE RELEVANT ACCOUNTING YEAR. AFTER OBTAINING A REMAND REPORT FROM THE AO, THE LD.CIT(A) DELETED THE IMPUGNED ADDITION MADE BY THE AO. AGGRIEVED BY THE IMPUGNED DECISION, THE REV ENUE IS IN APPEAL BEFORE US. 5. HAVING HEARD BOTH THE PARTIES AND PERUSED THE MA TERIAL ON RECORD, IT IS OBSERVED THAT THE ASSESSEE HAS FILED A PAPER BOOK B EFORE THE LD.CIT(A) CONTAINING THE CONFIRMATIONS OF THE PARTIES FROM WHOM THE UNSE CURED LOANS AND ADVANCES ARE TAKEN BY THE ASSESSEE. ALSO, THE ASSESSEE HAS FILED THE DETAILS OF BANK ACCOUNT AND OTHER SUPPORTING EVIDENCES EXPLAINING THE SOURCES O F FUNDS TRANSFERRED TO THE BANK ACCOUNT OF THE ASSESSEE BEFORE THE LD.CIT(A). HOWEV ER, IN RESPONSE TO THE LETTER DATED 18.08.2010 OF THE LD.CIT(A) ADDRESSED TO THE AO CALLING FOR HIS REPORT, THE AO VIDE HIS OFFICE LETTER DATED 21.02.2011 HAS SIMPLY RESPONDED THAT THE LD.CIT(A) MAY ADMIT THE ADDITIONAL EVIDENCES TO MEET THE ENDS OF JUSTICE WITHIN THE PROVISIONS OF RULE 46A OF THE I.T. RULES WITHOUT EXPRESSING HIS V IEWS ON ANY OF THE FACTS/CONTENTS AS REGARDS THE ADDITIONAL EVIDENCES FILED BY THE AS SESSEE. WE ALSO FIND THERE ARE SOME DISCREPANCIES AS REGARDS THE CO RELATION ON TH E ISSUE OF THE RELEVANT CREDIT/DEBIT ENTRIES IN THE BANK ACCOUNTS OF THE CR EDITOR AND THE ASSESSEE, IN PARTICULAR WHETHER THE SAME IS BY WAY OF CHEQUE OR DEMAND DRAFT. CONSIDERING THE ENTIRE FACTUAL MATRIX, WE ARE OF THE VIEW THAT IT W OULD BE JUST AND PROPER IF THIS ISSUE IS SET ASIDE TO THE FILE OF THE AO FOR DECIDING THE ISSUE AFRESH AFTER GIVING A PROPER OPPORTUNITY OF BEING HEARD TO THE ASSESSEE BY PLACI NG ALL THE RECORDS TO SUBSTANTIATE HER CLAIM. WE ORDER AND DIRECT ACCORDINGLY. 6. IN THE RESULT THE APPEALS FILED BY THE REVENUE I S ALLOWED FOR STATISTICAL PURPOSE . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 24 TH DAY OF JULY, 2013. SD/- SD/- (RAJENDRA SINGH) (DR. S.T.M. PAVALAN) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 24.07.2013. *SRIVASTAVA ITA NO. 4063/MUM/2012 SMT. YUKTA I. MUKHI ASSESSMENT YEAR: 2007-08 3 COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR F BENCH //TRUE COPY// [ BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.