DCIT, Jaipur V. INTREGRATED BUILDESTATE PVT. LTD., Jaipur

ITA 481/JPR/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99533 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 26-06-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PURSHOTTAM KASHYAP
• Assessee Lawyers: VIJAY GOYAL C A DHK
• Keywords: Unexplained investment

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH VKJ-IH-RKSYKUH] U;KF;D LNL; ,OA JH FOE FLAG ;KN O] YS[KK LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JM & SHRI VIKRAM SINGH YA DAV, AM VK;DJ VIHY LA-@ ITA NO. 481/JP/2014 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2007-08 THE DCIT CENTRAL CIRCLE- 2 JAIPUR CUKE VS. M/S. INTEGRATED BUILDESTATE (P) LTD. 79, TALKATORA JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO .: AABCI 6667D VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS@ REVENUE BY: SHRI PURSHOTTAM KASHYAP, ADDL. CIT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI VIJAY GOYAL, CA LQUOKBZ DH RKJH[K@ DATE OF HEARING : 6/11/2015 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 30 /11/2015 VKNS'K@ ORDER PER VIKRAM SINGH YADAV, AM THIS IS AN APPEAL FILED BY THE REVENUE AGAINST T HE ORDER OF THE LD. CIT(A), CENTRAL, JAIPUR DATED 4-04-2014 FOR THE AS SESSMENT YEAR 2007-08 RAISING THEREIN EFFECTIVE GROUND AS UNDER:- WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A), CENTRAL, JAIPUR HAS ERRED IN DELETING THE ADDITION OF RS. 23,41,567/- MADE BY THE AO UNDER TH E I.T. ACT , 1961 FOR UNDISCLOSED UNEXPLAINED INVESTMENT. ITA NO. 481/JP/2014 DCIT , CENTRAL CIRCLE- 2, JAIPUR VS. M/S. INTEGRATE D BUILDESTATE (P) LTD. 2 2.1 THE LD. DR IS HEARD. 2.2 THE LD. COUNSEL FOR THE ASSESSEE CONTENDS THAT THE ABOVE GROUND IS COVERED IN FAVOUR OF THE ASSESSEE BY THE ORDER DATE D 31-01-2014 OF COORDINATE BENCH IN ASSESSEE'S OWN CASE FOR THE ASS ESSMENT YEAR 2008-09 IN ITA NO. 149/JP/2013 2.3 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. WE FIND THAT ITAT JAIPUR BENCH HAS DECIDED THIS ISSUE IN ASSESSEE'S OWN CASE FOR THE ASSESSMENT YEA R 2008-09 IN FAVOUR OF THE ASSESSEE VIDE ITS ORDER DATED 31-01-2014 IN ITA NO. 149/JP/2013 BY FOLLOWING OBSERVATIONS AT PARA 6 AND 7 OF ITS ORDER :-. 6. SINCE THE FACTS OF THE PRESENT CASE ARE SIMILA R TO THE FACTS INVOLVED IN THE AFORESAID REFERRED TO CAS E OF THE DCIT, CENTRAL CIRCLE-2, JAIPUR VS. M/S RISING BUILDESTATE PVT. LTD., JAIPUR (SUPRA). SO RESPECTFULLY FOLLOWING THE AFORE SAID ORDER DATED 22/6/2012 IN ITA NO. 962/JP/2012 FOR THE A.Y. 2007- 08 IN THE CASE OF THE DCIT, CENTRAL CIRCLE-2, JAIPUR VS. M/S RISIN G BUILDESTATE PVT. LTD., JAIPUR, WE DO NOT SEE ANY INFIRMITY IN T HE IMPUGNED ORDER PASSED BY THE LD. CIT(A) AND ACCORDINGLY, DO NOT SE E ANY MERIT IN THIS APPEAL OF THE DEPARTMENT. 7. IN ITA NO. 149/JP/2013, IN THE CASE OF THE A CIT, CENTRAL CIRCLE-2, JAIPUR VS. M/S INTEGRATED BUILD E STATE PVT. LTD., THE ISSUE INVOLVED IS SIMILAR AS WAS INVOLVED IN TH E CASE OF THE ACIT, CENTRAL CIRCLE-2, JAIPUR VS. M/S FUTURE BUILD ESTATES PVT. LTD. IN ITA NO. 146/JP/2013 (SUPRA), THE ONLY DIFFE RENT IS THAT THE DELETION OF ADDITION IN THIS CASE WAS OF RS. 48,83, 013/- INSTEAD OF RS. 1,31,02,000/- INVOLVED IN THE CASE OF M/S FUTUR E BUILDESTATES ITA NO. 481/JP/2014 DCIT , CENTRAL CIRCLE- 2, JAIPUR VS. M/S. INTEGRATE D BUILDESTATE (P) LTD. 3 PVT. LTD.. THEREFORE, OUR FINDINGS GIVEN IN THE FOR MER PART OF THIS ORDER SHALL APPLY MUTATIS MUTANDIS. RESPECTFULLY FOLLOWING THE ABOVE DECISION OF ITAT BENCH (SUPRA), THE GROUND RAISED BY THE REVENUE IS DISMISSED. 3.0. IN THE RESULT, THE APPEAL OF THE REVENUE IS DI SMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30 /11/2 015. SD/- SD/- VKJ-IH-RKSYKUH FOE FLAG ;KNO (R.P.TOLANI) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 30 /11/ 2015 *MISHRA VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- THE DCIT, CENTRAL CIRCLE- 2, JAIPUR 2. IZR;FKHZ@ THE RESPONDENT- M/S. INTEGRATED BUILDESTATE (P) LTD. JAIPUR 3. VK;DJ VK;QDRVIHY ) @ CIT(A) 4. VK;DJ VK;QDR@ CIT 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO.481/JP/2014) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR