RAJENDRA NIVRUTTI THITE, Pune V. Assistant Commissioner of Income Tax, Central Circle-1(3), Pune

ITA 458/PUN/2023

AI Insights

The case involves Rajendra Nivrutti Thite, the appellant, contesting an addition of Rs.1,95,000 to his income, which was treated as 'Income from Other Sources' by the Assessing Officer. This amount was claimed to be received as dividend from Grainotch Industries Ltd., which the appellant argued was exempt from tax. The first appellate authority, CIT(A), sustained the addition due to the absence of supporting evidence like a Board Resolution. The appellant appealed to the Income Tax Appellate Tribunal, which found merit in re-evaluating the evidence and remitted the matter back to the AO for further verification.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 124133 (ITAT-PUNE)
• Duration Of Justice: 1 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-06-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 08-06-2023
• Assessment Year: 2018-2019
• Appeal Filed On: 19-04-2023
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Matter Remanded
• Court: TRIBUNAL
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. /ITA No.458/PUN/2023 नधा रण वष / Assessment Year : 2018-19 Rajendra Nivrutti Thite, 106, Ist Floor, Abhinav Residency, Bhamburda, Shivaji Nagar, Pune – 411 016, Maharashtra PAN : AANPT8524F Vs. ACIT, Central Circle-1(3), Pune Appellant Respondent आदेश / ORDER PER R.S. SYAL, VP: This appeal by the assessee arises out of the order dated 28-02-2023 passed by the CIT(A) in National Faceless Appeal Centre, Delhi u/s.250 of the Income-tax Act, 1961 (hereinafter also called ‘the Act’) in relation to the assessment year 2018-19. 2. The only issue raised in this appeal is against the confirmation of addition of Rs.1,95,000/- towards Dividend received from Grainotch Industries Ltd., which was claimed as exempt. 3. Briefly stated, the facts of the case are that the assessee claimed exempt income, inter alia, of Rs.1.95 lakh. In the absence of the Assessee by Shri Suhas P. Bora Revenue by Shri Gurmel Singh Date of hearing 09-06-2023 Date of pronouncement 09-06-2023 ITA No. 458/PUN/2023 Rajendra Nivrutti Thite 2 assessee furnishing any evidence in support of the income, the Assessing Officer (AO) treated such amount as “Income from Other Sources” and made the addition. During the course of first Appellate proceedings, the assessee submitted that Rs.1.95 lakh was received as dividend from Grainotch Industries Ltd. In the absence of the assessee furnishing the Board Resolution regarding declaration of dividend or any other evidence, the ld. CIT(A) sustained the addition. Aggrieved thereby, the assessee has come up in appeal before the Tribunal. 4. I have heard the rival submissions and gone through the relevant material on record. The assessee has made out a case that a sum of Rs.1.95 lakh was received as dividend from Grainotch Industries Ltd. Though the evidence in respect of receipt of dividend, such as, the Board Resolution etc., was not placed before the authorities below, the ld. AR contended that such evidence was now available and the same can be verified. Considering the facts in the entirety, I am of the considered opinion that it would be just and fair if the impugned order is set aside on this score and the matter is remitted to the file of AO. I order accordingly and direct him to verify the genuineness of receipt of dividend of Rs.1.95 lakh as corroborated with the necessary evidence and then decide the issue as ITA No. 458/PUN/2023 Rajendra Nivrutti Thite 3 per law. Needless to say, the assessee will be given reasonable opportunity of hearing. 5. In the result, the appeal is allowed for statistical purposes. Order pronounced in the Open Court on 09 th June, 2023. Sd/- (R.S.SYAL) VICE PRESIDENT पुणे Pune; िदनांक Dated : 09 th June, 2023 सतीश आदेश की ितिलिप अ ेिषत/Copy of the Order is forwarded to : 1. अपीलाथ / The Appellant; 2. थ / The Respondent 3. 4. 5. The Pr.CIT concerned DR, ITAT, ‘SMC’ Bench, Pune गाड फाईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune ITA No. 458/PUN/2023 Rajendra Nivrutti Thite 4 Date 1. Draft dictated on 09-06-2023 Sr.PS 2. Draft placed before author 09-06-2023 Sr.PS 3. Draft proposed & placed before the second member JM 4. Draft discussed/approved by Second Member. JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *