SMT. MEENA AGRAWAL, Sehore V. THE ITO 2(3), Bhopal

ITA 459/IND/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5825 (ITAT-INDORE)
• Duration Of Justice: 7 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2005-2006
• Appeal Filed On: 15-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA

Judgement Text

SMT. MEENA AGRAWAL ITA NO. 459/IND/2015 1 IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, INDORE BEFORE SHRI B.C. MEENA, HONBLE ACCOUNTANT MEMBER ITA NO. 459/IND/2015 A.Y.2005-06 SMT. MEENA AGRAWAL SEHORE ::: APPELLANT VS INCOME TAX OFFICER 2(3) BHOPAL ::: RESPONDENT APPELLANT BY SHRI SUMIT NEMA RESPONDENT BY SHRI R.A. VERMA DATE OF HEARING 21.12.2015 DATE OF PRONOUNCEMENT 2 . 2 . 201 6 O R D E R THIS APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF THE LEARNED CIT(A), BHOPAL-2, DATED 27.3.201 5. THE ONLY GROUND IN THE APPEAL IS AGAINST SUSTENANCE OF SMT. MEENA AGRAWAL ITA NO. 459/IND/2015 2 ADDITION OF RS. 3,13,880/- BY THE LEARNED CIT(A) BY TAKING PEAK DEPOSIT IN THE BANK ACCOUNT OF THE ASSESSEE. 2. THE ASSESSEE IS AN INDIVIDUAL. BEFORE ME, THE LEARN ED COUNSEL FOR THE ASSESSEE SUBMITTED CASH FLOW ACCOUNT F OR THE RELEVANT ACCOUNT IN WHICH THE OPENING AMOUNT WAS TAKEN AT RS. 1,65,000/- WHICH IS A PART OF THE PEAK. HE SUBMITTED THAT THERE WAS CASH WITHDRAWAL OF RS.50,000/- ON 12.3.2004 AND RS. 40,000/- ON 24.3.2004. THEREFOR E, THERE WAS CASH AVAILABLE OF RS. 90,000/- TO BE TAKEN AS OPENING BALANCE AND HE PLEADED THAT IF THE RELIEF IS GRAN TED TO THAT EXTENT, HE WILL NOT PURSUE THE APPEAL FOR FURT HER RELIEF. 3. I HAVE HEARD BOTH THE SIDES. THE BANK ACCOUNT OF TH E ASSESSEE REFLECTS THAT THERE WAS CASH WITHDRAWAL OF RS.50,000/- ON 12.3.2004 AND RS. 40,000/- ON 24 TH MARCH, 2004. HOWEVER, THE CASH WITHDRAWAL ON 12 TH MARCH, 2004 WAS IN THE NAME OF RAM BHAROSE. THEREFORE, THE ISSUE I S SMT. MEENA AGRAWAL ITA NO. 459/IND/2015 3 RESTORED TO THE FILE OF THE ASSESSING OFFICER TO ASC ERTAIN AS TO WHO WAS RAM BHAROSE AND WHETHER THIS AMOUNT WAS AVAILABLE WITH THE ASSESSEE TO BE CLAIMED AS OPENING BALANCE. IF FOUND IN ORDER, RELIEF UP TO RS. 90,000/ - MAY BE GRANTED. THE BALANCE AMOUNT IS CONFIRMED AS ABOVE. 4. IN THE RESULT, THE APPEAL IS PARTLY ALLOWED FOR STATI STICAL PURPOSES. PRONOUNCED IN OPEN COURT ON 2 ND FEB., 2016 SD/- (B.C. MEENA) ACCOUNTANT MEMBER 2/2/2016 DN/-