Bishnu Kumar Lohia, Kolkata V. I.T.O., Ward - 45(3), Kolkata, Kolkata

ITA 469/KOL/2022

AI Insights

The case involves an appeal by Bishnu Kumar Lohia against the order of the National Faceless Appeal Centre (CIT(A)), which confirmed the additions made by the Assessing Officer regarding certain deposits in the assessee's bank account. The Assessing Officer had added the difference between purchases and deposits as unexplained income. The CIT(A) ignored the assessee's submissions that the cumulative deposits should be examined in conjunction with the sales. The ITAT found merit in the assessee's arguments and decided to remand the case back to the Assessing Officer for a detailed examination of all relevant financial transactions.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 128122 (ITAT-KOLKATA)
• Duration Of Justice: 7 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-04-2023
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: SMC
• Next Hearing Date: 18-04-2023
• Assessment Year: 2009-2010
• Appeal Filed On: 21-08-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 250

Judgement Text

आयकर अपीलȣय अͬधकरण, कोलकाता पीठ ‘एसएमसी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA Įी संजय गग[, ÛयाǓयक सदèय एवं Įी ͬगरȣश अĒवाल, लेखा सदèय के सम¢ Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.469/Kol/2022 Assessment Year: 2009-10 Bishnu Kumar Lohia.................................................................. Appellant C/o Shri Jitendra Kaushik, Advocate, 19D, Muktaram Babu Street, Kolkata-700007. [PAN: AAVPL5302K] vs. ITO, Ward-45(3), Kolkata ......................................................... Respondent Appearances by: Shri Sunil Surana, AR, appeared on behalf of the appellant. Shri Ranu Biswas, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : April 19, 2023 Date of pronouncing the order : April 19, 2023 आदेश / ORDER संजय गग[, ÛयाǓयक सदèय ɮवारा / Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 08.07.2022 of the National Faceless Appeal Centre [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. The assessee is aggrieved by the action of the lower authorities in making addition in respect of certain deposits found in the bank account of the assessee. 3. The assessee explained that the said deposits were out of business transaction of the assessee i.e. out of purchases and sale made during the year. The Assessing Officer compared purchases vis- a-vis deposits in the bank account and added the difference as unexplained income of the assessee. I.T.A. No.469/Kol/2022 Assessment Year: 2009-10 Bishnu Kumar Lohia 2 4. Before the CIT(A), the assessee submitted that cumulative deposits should be examined considering the sales of the assessee also. However, the ld. CIT(A) ignored the above submissions and confirmed the additions made by the Assessing Officer. 5. Having considered the rival submissions of the ld. representatives of the parties, we deem it appropriate to restore the matter to the file of the Assessing Officer with a direction that the Assessing Officer will examine the purchases as well as corresponding sales of the year and compare it with the cumulative deposits found in the bank account of the assessee and consider the submission and explanation of the assessee in respect of deposits and thereafter to pass a speaking order afresh in accordance with law. No other issue raised or pressed before us. 6. In the result, the appeal of the assessee is treated as allowed for statistical purposes. Kolkata, the 19 th April, 2023. Sd/- Sd/- [ͬगरȣश अĒवाल /Girish Agrawal] [संजय गग[ /Sanjay Garg] लेखा सदèय/Accountant Member ÛयाǓयक सदèय/Judicial Member Dated: 19.04.2023. RS Copy of the order forwarded to: 1. Bishnu Kumar Lohia 2. ITO, Ward-45(3), Kolkata 3. CIT (A)- 4. CIT- , 5. CIT(DR), I.T.A. No.469/Kol/2022 Assessment Year: 2009-10 Bishnu Kumar Lohia 3 //True copy// By order Assistant Registrar, Kolkata Benches