Jyotir A. Parekh, Surat V. Income Tax Office, Ward-2(2)(1), Surat

ITA 435/SRT/2022

AI Insights

The case involves an appeal by Jyotir A. Parekh against the order of the National Faceless Appeal Centre/Commissioner of Income Tax (Appeals), which pertained to the Assessment Year 2018-19. The primary contention was the addition of Rs. 78,996 as a difference in gross receipts reported during the assessment and appellate proceedings. The assessee argued that this amount represented income from 'other sources' such as interest and dividend income, which was already included in the computation of income. The Departmental Representative acknowledged the possibility of relief if the assessee's contentions were verified as correct.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 301597 (ITAT-SURAT)
• Duration Of Justice: 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-03-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 27-03-2023
• Assessment Year: 2018-2019
• Appeal Filed On: 22-12-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH (SMC), SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No. 435/Srt/2022 (Assessment Year 2018-19) (Virtual hearing) Jyotir A. Parekh, 1, Choktha Faliyu, Olpad, Dist-Surat. PAN No. AOCPP 5434 M Vs. I.T.O., Ward 2(2)(1), Surat. Appellant/ assessee Respondent/ revenue Assessee represented by None Department represented by Shri Vinod Kumar, Sr. DR Date of hearing 28/03/2023 Date of pronouncement 28/03/2023 Order under Section 254(1) of Income Tax Act PER: PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by the assessee is directed against the order of learned National Faceless Appeal Centre, Delhi (NFAC)/Commissioner of Income Tax (Appeals), (in short, the ld. CIT(A)) dated 25/10/2022 for the Assessment year (AY) 2018-19 wherein the assessee has raised following grounds of appeal: “1. The ld. AO erred in making addition of Rs. 78,996/- as difference of gross receipt shown in appellate proceeding at Rs. 14,48,767/- and gross receipts of Rs. 13,69,771/- shown during the assessment before AO. 2. The ld. AO has erred in law and facts levying interest u/s 234A/B/C of the IT Act. 3. The appellant craves leave to add, alter or vary any of the grounds of appeal.” 2. The notice of hearing of appeal was served upon the assessee at the time of filing of appeal itself fixing the date of hearing on 27/02/2023. On 27/02/2023, Mr. Nehal Rana, CA appeared and sought adjournment ITA No. 435/Srt/2022 Jyotir A. Parekh Vs ITO 2 and appeal was adjourned to 28/03/2023. Today on 28/03/2023, none appeared on behalf of assessee despite waiting of sufficient time and calling the case repeatedly. 3. The issue involved in the present appeal is very small, therefore, I decided to adjudicate the appeal after hearing the submission of learned Senior Departmental Representative (ld. Sr. DR) for the revenue and the material available on record. As noted in the grounds of appeal, the ld. CIT(A) restricted the addition of Rs. 78,996/- on account of difference of gross receipt shown during the appellate proceedings vis a vis the gross receipt of Rs. 13,69,771/- shown during the appellate stage. The assessee has explained in the statement of fact that difference of Rs. 78,996/- is nothing but income from ‘other sources’ like interest income, dividend income which was already shown in the computation of income under the head income from other sources. 4. The ld. Sr. DR for the revenue fairly submits that necessary direction may be given to the Assessing Officer to verify the fact and grant relief to the assessee if contention of assessee as disclosed in the statement of facts are correct. 5. I have considered the submission ld. Sr. DR for the revenue and perused the orders of lower authorities carefully. I find that there is a very limited issue in the ground of appeal, as per statement of fact narrated by the assessee that difference of Rs. 78,996/- is nothing but part of income ITA No. 435/Srt/2022 Jyotir A. Parekh Vs ITO 3 from other sources like interest income, dividend income which was allegedly shown in the computation of income. Therefore, the Assessing Officer is directed to verify the facts and grant necessary relief to the assessee in accordance with law. Needless to direct that before examining/verifying the fact, the Assessing Officer shall grant opportunity of hearing to the assessee. The assessee is also directed to explain the facts and provide necessary details to the Assessing Officer. 6. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 28 th March, 2023. Sd/- (PAWAN SINGH) JUDICIAL MEMBER Surat, Dated: 28/03/2023 *Ranjan Copy to: 1. Assessee – 2. Revenue -- 3. CIT 4. DR 5. Guard File By order // TRUE COPY // Sr. Private Secretary, ITAT, Surat