ITO, New Delhi V. Km. Gayatri Sekhar, New Delhi

ITA 4528/DEL/2013

• Counselvise Citation: 452820114 RSA 2013
• Duration Of Justice: 1 year(s) 7 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-03-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 11-03-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 31-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T VASANTHAN
• Assessee Lawyers: S SAMPATH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : C : NEW DELHI BEFORE SH. R.S. SYAL , A.M. & SH. I.C. SUDHIR , J.M. ITA NO. 4528 /DEL/ 2013 ASSESSMENT YEAR: 2009 - 10 INCOME TAX OFFICER , VS. KM. GAYATRI SEKHAR, WARD - 42(2), NEW DELHI ROOM NO. 109, AAKASH OFFICERS, MESS, ZAKIR HUSSAIN MARG, NEW DELHI (PAN: AYCPS1237P ) (APPELLANT) (RESPONDENT) APPELLANT BY : SH. T. VASANTHAN, SR. DR RESPONDEN T BY: SH. S. SAMPATH DATE OF HEARING: 27.03.2015 DATE OF PRONOUNCEMENT: 27. 03.2015 ORDER PER R.S. SYAL , A.M. : THIS APPEAL BY THE REVENUE ARISES OUT OF THE ORDER OF THE CIT(A) DATED 31.05.2013 IN RELATION TO THE ASSESSMENT YEAR 2009 - 10 . 2. THE SOLITARY GROUND RAISED IN THIS APPEAL IS AGAINST THE DELE TION OF ADDITION OF RS. 62 LAKH ON ACCOUNT OF CASH DEPOSIT ED IN ICICI BANK AND RS. 80,322/ - ON ACCOUNT OF INTEREST INCOME. 3. BRIEFLY STATED FACTS OF THE CASE ARE THAT THE ASSESSEE IS AN EMPLOYEE OF INDIAN AIR FORCE. A SUM OF RS. 62 LAKH WAS DEPOSITED IN HER BANK ACCOUNT MAINTAINED WITH ICICI BANK ON 29.08.2008 . ON BEING CA LLED UPON TO EXPLAIN THE SOURCE OF DEPOSIT OF SUCH AMOUNT IN HER BANK ACCOUNT, SHE STATED THAT HER PARENTS 2 WERE RESIDING OUTSIDE INDIA DURING THE RELEVANT FINANCIAL YEAR. THE PROPERTY JOINTLY HELD BY THEM WAS SOLD BY HER DURING THE YEAR ON THE B ASIS OF POWER OF ATTORNEY AND THE SALE PROCEED S WERE DEPOSITED IN HER BANK ACCOUNT IN CASH. IN SUPP ORT OF HER CLAIM, SHE FILED COP Y OF THE RETURN S FILED BY HER PARENTS FOR THE ASSESSMENT YEAR UNDER CONSIDERATION. THE RETURN S FILED BY THE PARENTS REVEALED T HAT THEY HAD DECLARED SALE CONSIDERATION AT RS. 31 LAKH EACH AS THE FULL VALUE OF CONSIDERATION IN THE COMPUTATION OF INCOME UNDER T HE HEAD `C APITAL GAIN S . N OT CONVINCED , THE ASSESSING OFFICER MA DE AN ADDITION OF RS. 62 LAKH IN THE HANDS OF THE ASSESSEE . APART FROM THAT, HE ALSO MADE AN ADDITION OF RS. 80,322/ - TOWARDS THE INTEREST INCOME EARNED FROM BANK , WHICH WAS NOT DECLARED. THE L EARNED CIT(A) DELETED THE ADDITION OF RS. 62 LAKH AGAINST WHICH THE REVENUE HAS COME UP IN THE APPEAL BEFORE US. 4 . WE H AVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. IT IS OBSERVED THAT THE ASSESSEE DULY STATED THE SOURCE OF DEPOSIT OF RS. 62 LAKH IN HER BANK ACCOUNT , BEING THE SALE PROCEEDS OF THE PROPERTY HELD BY HER PARENTS. NOT O NLY THAT, SHE ALSO FURNISHED COPY OF THE IR RETURNS OF INCOME DECLARING SALE CONSIDERATION AT RS. 31 LAKH EACH. THE MERE FACT THAT REGISTERED VALUE OF PROPERTY WAS STATED TO BE AT RS. 9,80,000/ - , CANNOT BE A CRITERIA TO REJECT THE ASSESSEE S CONTENTION OF THE ACTUAL SAL E CONSIDERATION AT RS. 62 LAKH, M ORE SO , WHEN THE SAME SALE CONSIDERATION WAS DULY D ECLARED BY HER PARENTS IN THEIR RESPECTIVE RETURNS OF INCOME. IN OUR CONSIDERED OPINION, THE 3 ASSESSEE FULLY DISCHARGED THE ONUS CAST UPON HER TO GIVE THE SOURCE OF DEPOSIT OF RS. 62 LAKH IN HER BANK ACCOUNT. THE ADDITION, IF ANY, COULD HAVE BEEN CONSIDERED IN THE HANDS OF THE BUYER SHOWING LOWER PURCHASE CONSIDERATION. THE ASSESSEE CANNOT BE SADDLED WITH ANY FURTHER LIABILITY. THE IMPUGNED ORDER IS , THEREFORE, UPHELD TO THIS EXTENT. 5 . AS REGARDS THE OTHER PART OF THE GROUND ABOUT THE DELETION OF ADDITION OF RS. 80,322/ - ON ACCOUNT OF INTEREST INCOME, WE FIND THAT THERE IS NO DECISION GIVEN BY THE LEARNE D CIT(A) SUSTAINING OR DELETING THIS ADDITION. THIS PART OF THE GROUND, THEREFORE, CANNOT BE SAID TO ARISE FROM THE IMPUGNED ORDER. THE SAME IS THEREFORE, DISMISSED AS INFRUCTUOUS. 6 . IN THE RESULT, THE APPEAL IS DISMISSED. THE DECISION IS PRONOUN CED IN THE OPEN COURT ON 2 7 T H MARCH , 2015. S D / - S D / - ( I.C. SUDHIR ) ( R.S. SYAL ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 2 7 T H MARCH , 2015. RK/ - COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI