Satyabrata Behera, Cuttack V. ACIT, Cuttack

ITA 412/CTK/2012

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 7563 (ITAT-CUTTACK)
• Duration Of Justice: 4 year(s) 5 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 24-11-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 15-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUVENDU DUTTA
• Assessee Lawyers: D DAS
• Keywords: Business income
• Section: 80C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK SMC BENCH, CUTTACK BEFORE SHRI N.S SAINI, ACCOUNTANT MEMBER ITA NO. 412/CTK/2012 ASSESSMENT YEAR : 2007 - 08 SATYABRATA BEHERA, MANSINGHPATNA, CUTTACK VS. ACIT, CIRCLE 2(1), CUTTACK PAN/GIR NO. ACKPB 3538 Q (APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY : SHRI D.DAS, AR REVENUE BY : SHRI SUVENDU DUTTA , DR DATE OF HEARING : 24 /11 / 2016 DATE OF PRONOUNCEMENT : 24 /11 / 2016 O R D E R THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) - CUTTACK, DATED 28.3.2012 , FOR THE ASSESSMENT YEAR 2007 - 08 . 2. GROUND NO.1 OF THE APPEAL IS GENERAL IN NATURE AND HENCE, REQUIRES NO SEPARATE ADJUDICATION. 3. GROUND NOS.2 & 3 READ AS UNDER: 2. THAT THE LEARNED CIT(A), CUTTACK HAS ERRED IN LAW AND IN FACT BY CONFIRMING THE ADDITION MADE UNDER THE HEAD INCOME FROM HOUSE 2 ITA NO. 412/CTK/2012 ASSESSMENT YEAR :2007 - 08 PROPERTY BY DISALLOWING INTEREST ON BORROWED CAPITAL WHICH IS CONTRARY TO EVIDENCE ON RECORD AND THE SAME IS LIABLE TO BE DELETED. 3. THAT THE LEARNED CIT(A), CUTTACK HAS ERRED IN LAW AND IN FACT BY CONFIRMING THE ADDITION MADE BY NOT ALLOWING THE DEDUCTION MADE U/S 80C OF RS. 1,00,000.00 WHICH IS CONTRARY TO EVIDENCE ON RECORD AND THE SAME IS LIABLE TO BE DELETED. 4 . BRIEF FACTS OF THE CASE ARE THAT THE ASSESSING OFFICER OBSERVE D THAT THE ASSESSEE IS AN INDIVIDUAL DER I VING INCOME FROM HOUSE PROPER, BUSINESS INCOME, FROM OTHER SOURCES AND SHORT TERM CAPITAL GAIN. THE ASSESSEE FILED RETURN OF INCOME FOR THE ASSESSMENT YEAR UNDER CONSIDERATION ON 19.3.2008 SHOWING TOTAL INCOME AT R S.4,13,856/ - . DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE ASSESSEE COULD NOT PRODUCE BOOKS OF ACCOUNT AND OTHER DETAILS FOR VERIFICATION. THE ASSESSWEE ALSO STATED BEFORE THE ASSESSING OFFICER THAT NO FURTHER DETAILS CAN BE PRODUCED. THE ASSESSING OFFICER, THEREFORE COMPLETED THE ASSESSMENT U/S.143(3) OF THE ACT DETERMINING THE TOTAL INCOME AT RS.5,61,260/ - . 5 . BEFORE THE LD CIT(A), THE ASSESSEE ALSO COULD NOT PRODUCE THE REQUIRED DOCUMENTS AND OTHER DETAILS. THEREFORE, THE LD CIT(A) CONFIRMED THE ACTION OF THE ASSESSING OFFICER. 6 . BEFORE ME, LD A.R. OF THE ASSESSEE PRODUCED BANK STATEMENTS OF STATE BANK OF INDIA REGARDING INTEREST PAID ON HOUSING LOAN AND LIC RECEIPT FOR CLAIMING DEDUCTION U/S.80C OF THE ACT. LD A.R. OF THE ASSESSEE SUBMITTED THA T THE ASSESSEE WAS IN THE PROCESS OF COLLECTING DETAILS, HOWEVER, THE 3 ITA NO. 412/CTK/2012 ASSESSMENT YEAR :2007 - 08 SAME COULD NOT BE COLLECTED BEFORE PASSING OF THE ORDERS BY THE LOWER AUTHORITIES AND, THEREFORE, COULD NOT BE PRODUCED. HE SUBMITTED THAT IF ONE MORE OPPORTUNITY IS GRANTED TO THE ASS ESSEE, THE ASSESSEE IS IN A POSITION TO FILE ALL THE DETAILS BEFORE THE ASSESSING OFFICER AND PRAYED THAT THE MATTER SHOULD BE RESTORED BACK TO THE FILE OF THE ASSESSING OFFICER FOR FRESH ADJUDICATION AFTER CONSIDERING THE DETAILS TO BE FILED BY THE ASSESS EE. 7 . LD D.R. OPPOSED THE SUBMISSION OF LD A.R. AND SUBMITTED THAT MAXIMUM OPPORTUNITIES HAVE BEEN PROVIDED BY THE ASSESSING OFFICER AS WELL AS LD CIT(A) BUT ASSESSEE COULD NOT PRODUCE ANY DETAILS BEFORE THEM. 8 . ` I HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE ORDERS OF LOWER AUTHORITIES AND MATERIALS AVAILABLE ON RECORD. I FIND THAT BEFORE THE ASSESSING OFFICER AS WELL THE CIT(A), THE ASSESSEE COULD NOT PRODUCE BOOKS OF ACCOUNT AND DETAILS CALLED FOR BY THEM. BEFORE ME, LD A.R. OF THE ASSESSEE HA S SUBMITTED THAT NOW HE IS IN THE POSITION TO FILE ALL THE DETAILS AND PRODUCE BOOKS OF ACCOUNT BEFORE THE ASSESSING OFFICER AND PRAYED FOR GRANTING ONE MORE OPPORTUNITY TO THE ASSESSEE. I AM OF THE CONSIDERED OPINION THAT CONSIDERING THE FACTS AND CIRCUM STANCES OF THE CASE, NO HARM WILL BE CAUSED TO THE REVENUE IF ONE MORE OPPORTUNITY IS ALLOWED TO THE ASSESSEE TO PRESENT ITS CASE BEFORE THE ASSESSING OFFICER. I, THEREFORE, SET ASIDE THE ORDERS OF LOWER AUTHORITIES AND REMAND THE MATTER BACK TO THE FILE OF THE ASSESSING OFFICER TO REFRAME THE ASSESSMENT DENOVO AFTER CONSIDERING 4 ITA NO. 412/CTK/2012 ASSESSMENT YEAR :2007 - 08 THE EVIDENCES/DETAILS WHICH ARE TO BE FILED BEFORE HIM AND AFTER AFFORDING REASONABLE AND PROPER OPPORTUNITY OF HEARING TO THE ASSESSEE. THE ASSESSEE IS DIRECTED TO PRODUCE THE D ETAILS AND DOCUMENTS BEFORE THE ASSESSING OFFICER AS AND WHEN CALLED UPON TO DO SO. 9. IN THE RESULT, THE APPEAL F ILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCE D IN THE OPEN COURT ON 24 / 11 /2016 IN THE PRESENCE OF PARTIES. SD/ - ( N.S SAINI) A CCOUNTANT MEMBER CUTTACK; DATED 24 /11 /2016 B.K.PARIDA, SPS COPY OF THE ORDER FORWARDED TO : BY ORDER, ASST.REGISTRAR, ITAT, CUTTACK 1. THE APPELLANT : SATYABRATA BEHERA, MANSINGHPATNA, CUTTACK 2. THE RESPONDENT. ACIT, CIRCLE 2(1), CUTTACK 3. THE CIT(A) ,CUTTACK 4. CIT , CUTTACK 5. DR, ITAT, CUTTACK 6. GUARD FILE. //TRUE COPY//