Rinku Kumar, Yamunanagar V. ITO Ward-3, Yamunanagar

ITA 472/CHANDI/2022

AI Insights

The case involves an appeal by Shri Rinku Kumar against the order of the Ld. CIT(A), NFAC, Delhi, which confirmed an addition of Rs 9,32,772 towards unexplained investment in the purchase of a vehicle for the assessment year 2011-12. The assessee argued that the vehicle was financed through Mahindra Finance and Tata Motors Finance Ltd., and the necessary loan documentation could not be submitted earlier due to sufficient cause. The assessee requested the admission of these documents under Rule 29 of the Income Tax Rules, claiming they were critical for deciding the appeal. The Departmental Representative did not object to the matter being set aside for verification of the new documents by the AO.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 127566 (ITAT-CHANDIGARH)
• Duration Of Justice: 9 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-03-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Next Hearing Date: 01-03-2023
• Assessment Year: 2011-2012
• Appeal Filed On: 25-05-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Additional evidence; Set aside

Judgement Text

आयकर अपील य अ धकरण,च डीगढ़ यायपीठ “एस.एम.सी” , च डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCHES, “SMC” CHANDIGARH ी व म संह यादव, लेखा सद%य BEFORE: SHRI. VIKRAM SINGH YADAV, AM ITA No. 472/Chd/2022 Assessment Year : 2011-12 Shri Rinku Kumar C/o C.A. Ajay Kumar Jain SCO 80-81 4 th Floor Sector 17C Chandigarh The ITO Ward-3 Yamunanagar PAN NO: AVYPK1701B Appellant Respondent ! " Assessee by : Shri Ajay Jain, C.A # ! " Revenue by : Shri Akashdeep, JCIT, Sr. DR $ % ! & Date of Hearing : 02/03/2023 '()* ! & Date of Pronouncement : 03/03/2023 आदेश/Order PER VIKRAM SINGH YADAV, AM: This is an appeal filed by the Assessee against the order of the Ld. CIT(A), NFAC, Delhi dt. 30/10/2021 wherein the addition of Rs 9,32,772/- towards unexplained investment in purchase of vehicle has been confirmed. 2. During the course of hearing, the Ld. AR submitted that the limited issue involved in the present appeal relates to the source of investments for purchase of vehicle by the assessee. It was submitted that the assessee has got the vehicle financed through Mahindra Finance as well as Tata Motors Finance Ltd. However the necessary details couldn’t be submitted before the lower authorities as the assessee was prevented by sufficient cause in terms of obtaining the loan documentation from the Finance Company. In this regard, attention was drawn to the application filed under Rule 29 of the Income Tax Rules wherein it was prayed that the loan documentation in terms of vehicle financed through Mahindra Finance as well as Tata Motors Finance Ltd. may be admitted. It was submitted that these documents are critical in deciding the appeal and the same may be admitted and the matter may be decided after taking the same into consideration and where the Bench so decide the matter may be set-aside to the 2 file of the AO to verify the same. It was submitted that the assessee may accordingly be allowed one more opportunity and these documents should be considered in the interest of justice. 3. Per contra, the Ld. DR submitted that these documents were not available before the lower authorities and where the Bench so decide, the matter may be set aside to the file of the AO to verify the same. 4. After hearing both the parties and considering the material available on the record, I believe that the additional documentation so submitted by the assessee goes to the root of the matter and in view of the same, assessee’ prayer for admission of additional evidence is hereby allowed and the matter is set aside to the file of the AO to examine the same and decide the matter afresh after providing reasonable opportunity to the assessee. 5. In the result, appeal of the assessee is allowed for statistical purposes. (Order pronounced in the open Court on 03/03/2023 ) Sd/- व म संह यादव (VIKRAM SINGH YADAV) लेखा सद%य / ACCOUNTANT MEMBER AG Date: 03/03/2023 ( + ! , - . - Copy of the order forwarded to : 1. The Appellant 2. The Respondent 3. $ / CIT 4. $ / 0 1 The CIT(A) 5. - 2 ग 4 5 & 4 5 678 ग9 DR, ITAT, CHANDIGARH 6. ग 8 : % Guard File