Rashik Gupta, Delhi V. ACIT, Cir.-29, Kolkata

ITA 446/KOL/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 7644 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-01-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 06-01-2021
• Assessment Year: 2005-2006
• Appeal Filed On: 16-07-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS RANU BISWAS CITSRDR
• Assessee Lawyers: SAGAR MAL GUPTA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER . /ITA NO.446/KOL/2020 ASSESSMENT YEAR:2005-06 RASHIK GUPTA H.NO. 1787, FIRST FLOOR, GALI RAM,SOHAN GANJ, SABJI MANDI, NR. LELA GAS, DELHI-110007 [ PAN NO.AIPPG 0001 N ] / V/S . ACIT, CIRCLE-29, 2, GARIAHAT ROAD (S) KOLKATA-700 068 /APPELLANT .. /RESPONDENT HEARING THROUGH VIDEO CONFERENCING /BY APPELLANT SHRI SAGAR MAL GUPTA, A.R /BY RESPONDENT MRS. RANU BISWAS, ADDL. CIT-SR-DR /DATE OF HEARING 06-01-2021 /DATE OF PRONOUNCEMENT 06-01-2021 /O R D E R THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSESS EE AGAINST THE ORDER DATED 11.02.2020 OF THE COMMISSIONER OF INCOME-TAX (APPEA LS)-8, KOLKATA [HEREINAFTER REFERRED TO AS CIT(A)]. 2. THE ASSESSEE IN THIS APPEAL HAS AGITATED THE CON FIRMATION OF DISALLOWANCE OF RS.1,85,500/- ON ACCOUNT OF UNEXPLAINED CASH DEPOSI T IN THE BANK ACCOUNT OF THE ASSESSEE. THE CASH DEPOSITS BELONG TO THE PERIOD OF 01.04.2004 TO 31.03.2005. THE PLEA OF THE ASSESSEE HAS BEEN THAT THE SAID AMOUNT IS JOINT ACCOUNT OF THE ASSESSEE ALONGWITH HIS FATHER. IT HAS BEEN FURTHER SUBMITTED THAT EARLIER THE ACCOUNT WAS ONLY IN THE NAME OF THE FATHER OF THE ASSESSEE. THE NAME OF THE ASSESSEE AS A JOINT HOLDER WAS INTRODUCED LATER ON. IT HAS BEEN FURTHER PLEADED TH AT THE ALLEGED DEPOSITS WERE MADE INTO THE SAID ACCOUNT DURING THE PERIOD WHEN THE AS SESSEE WAS NOT THE JOINT ACCOUNT ITA NO.524/KOL/2020 A.Y. 2003- 04 GENERAL MAGNETS . LTD. VS. DCIT, CIR-6,KOL. PAGE 2 HOLDER AND THEREFORE THE SAME DID NOT BELONG TO THE ASSESSEE. THOUGH, TO VERIFY FOR THE ABOVE PLEA OF THE ASSESSEE, THE MATTER WAS REMITTED BACK BY THE CIT(A) TO THE ASSESSING OFFICER, HOWEVER, DESPITE THE ENQUIRY DUR ING THE REMAND PROCEEDINGS NO DEFINITE FINDING HAS BEEN GIVEN BY THE ASSESSING OF FICER IN THIS RESPECT. I THEREFORE DEEM IT FIT TO RESTORE THE MATTER TO THE FILE OF TH E ASSESSING OFFICER WITH A DIRECTION TO VERIFY THE ABOVE PLEA OF THE ASSESSEE AS TO WHETHER THE ASSESSEE WAS ACCOUNT HOLDER / JOINT ACCOUNT HOLDER DURING THE PERIOD IN WHICH THE ALLEGED DEPOSITS WERE MADE IN THE SAID ACCOUNT. THE ASSESSING OFFICER IF SO REQUIRE, MAY CALL FOR / SUMMON FOR THE EVIDENCES FROM THE CONCERNED BANK / OFFICIALS IN TH IS RESPECT AND THEREAFTER WILL GIVE A DEFINITE FINDING IN THIS RESPECT. IN THE FAILURE OF THE ASSESSING OFFICER TO GIVE THE DEFINITE FINDING / EVIDENCE IN THIS RESPECT, THE IM PUGNED ADDITION WILL NOT BE WARRANTED IN THAT EVENT. WITH THE ABOVE OBSERVATION, THE APPE AL OF THE ASSESSEE TREATED AS ALLOWED FOR STATISTICAL PURPOSES. IN THE RESULT , THE APPEAL OF THE ASSESSEE STANDS ALLOWED FOR STA TISTICAL PURPOSES. ORDER PRONOUNCED IN OPEN COURT AT THE CLOSE OF THE HEARING ON WEDNESDAY, 6 TH JANUARY, 2021 . SD/- (SANJAY. GARG) JUDICIAL MEMBER KOLKATA, *DKP/SR.PS ' - 06/01/2021 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-RASHIK GUPTA, H.NO.1787, 1ST. FLOOR, GAL I RAM,SOHAN GANJ,, SABJI MANDI NR . LEELA GAS, DELHI-110007 2. /RESPONDENT-ACIT, CIR-29, 2,GARIAHAT ROAD, (S), KOL KATA-700 068 3. % ' / CONCERNED CIT 4. ' - / CIT (A) 5. ( ++% , % / DR, ITAT, KOLKATA 6. - / GUARD FILE. BY ORDER/ , /TRUE COPY/ %,