Chiranjee Lal, New Delhi V. ITO, Ward- 65(1), New Delhi

ITA 4127/DEL/2018

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 9020 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-10-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 30-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DR ANJULA JAIN
• Assessee Lawyers: CHIRANJEE LAL
• Section: 133(6)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES SMC: DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.NO.4127/DEL./2018 ASSESSMENT YEAR 2010-11 CHIRANJEE LAL 218, SHAHPUR JAT, NEW DELHI. AABPL4540K VS. INCOME TAX OFFICER, WARD 65(1), NEW DELHI. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SH. CHIRANJEE LAL, ASSESSEE FOR REVENUE : DR. ANJULA JAIN, SR. DR DATE OF HEARING : 17.10.2018 DATE OF PRONOUNCEMENT : 17 .10.2018 ORDER THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF LD. CIT(A)-21, NEW DELHI DATED 27.03.2018 FOR AY 2010-11 CHALLENGING THE ADDITION OF RS. 54,276/-. THE AO NOTED THAT TO VERIFY THE AIR/CIB INFORMATION OF SHA RE TRANSACTION OF RS. 4,67,08,338/-, TRANSACTION STATE MENT WITH RESULTING PROFIT/LOSS WAS CALLED FROM M/S KARVY STO CK BROKING 2 ITA.NO.4127/DEL./2018 LTD. U/S 133(6) OF THE ACT. FROM THE DETAILS/DOCUM ENTS RECEIVED FROM M/S KARVY STOCK BROKING LTD., IT REVE ALED THAT RESULTANT PROFIT FROM THE SAID SHARE TRANSACTION WA S TO THE TUNE OF RS. 54,276/- BUT SAME HAS NOT BEEN CONSIDER ED BY ASSESSEE WHILE FURNISHING HIS RETURN OF INCOME. SI NCE THE ASSESSEE HAS NOT DECLARED THE SAID PROFIT IN HIS IT R, SAME WAS ADDED TO THE INCOME OF ASSESSEE ON ACCOUNT OF PROFI T FROM SHARE TRANSACTIONS. THE LD. CIT(A) ON THE SAME REA SONS DISMISSED THE APPEAL OF THE ASSESSEE. 2. I HAVE HEARD ASSESSEE IN PERSON AND LD. DR. THE ASSESSEE SUBMITTED THAT SOME LADY IN THE OFFICE OF THE ASSESSEE HAS MISUSED THE TRANSACTION AND ASSESSEE HAS BEEN C HEATED BY HER ON THE SAID TRANSACTION WHICH WAS CONDUCTED IN THE NAME OF THE ASSESSEE. THEREFORE, NO ADDITION SHOUL D BE MADE. THIS ITSELF HAS NO GROUND TO DELETE THE ADDITION. THE ASSESSEE ADMITTED THAT TRANSACTION WAS CONDUCTED IN THE NAME OF ASSESSEE BY SOME LADY OF THE OFFICE OF THE ASSESSEE WHICH RESULTED INTO PROFIT. THUS, THE ASSESSEE EARNED PR OFIT FROM 3 ITA.NO.4127/DEL./2018 SHARE TRANSACTIONS OF RS. 54,276/- WHICH WAS NOT DE CLARED IN THE RETURN OF INCOME. MAY BE THE ASSESSEE CHEATED BY HIS COLLEAGUE IN THE OFFICE IS NO GROUND TO DELETE THE ADDITION. THE APPEAL OF ASSESSEE HAS NO MERIT, THE SAME IS ACCORD INGLY DISMISSED. 3. IN THE RESULT, THE APPEAL OF ASSESSEE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- (BHAVNESH SAINI) JUDICIAL MEMBER DELHI, DATED 17.10.2018 *KAVITA ARORA COPY TO 1. T HE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT SMC BENCH, DELHI 6. GUARD FILE. // BY ORDER // ASSISTANT REGISTRAR : ITAT DELHI BENCHES : DELHI. 4 ITA.NO.4127/DEL./2018 DATE OF DICTATION 17.10.2018 DATE ON WHICH THE TYPE D DRAFT IS PLACED BEFORE THE DICTATING MEMBER 17.10.2018 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P S/PS 17.10.18 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 17.10.18 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS 17.10.18 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT 17.10.18 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 17.10.18 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH TH E FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER