Karnail Singh, Kurukshetra V. ITO, Kurukshetra

ITA 484/CHANDI/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2373 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-10-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 15-03-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: CHANDRA KANTA
• Assessee Lawyers: S K MUKHI

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BEN CH A, CHANDIGARH , . '.., # $, %& BEFORE: SH. SANJAY GARG, JM & DR. B.R.R. KUMAR, AM ITA NO. 484/CHD/2017 ASSESSMENT YEAR : 2011-12 KARNAIL SINGH H.NO. 17/20, GOBIND GARH KURUKSHETRA THE ITO WARD-1 KURUKSHETRA PAN NO: AQPPS9309H APPELLANT RESPONDENT !' ASSESSEE BY : SHRI. S.K. MUKHI #!' REVENUE BY : SMT. CHANDRAKANTA $ %! & DATE OF HEARING : 10/09/2018 '()*! & DATE OF PRONOUNCEMENT : 31/10/2018 %'/ ORDER PER DR. B.R.R. KUMAR, A.M THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE A GAINST THE ORDER OF THE LD. CIT(A), KARNAL DT. 02/01/2017. 2. IN THE PRESENT APPEAL ASSESSEE HAS RAISED THE FO LLOWING GROUNDS: 1.(A) THAT THE LD. CIT(A) IS NOT JUSTIFIED IN CONCU RRING WITH THE ORDERS PASSED BY THE A.O., CONFIRMING THE ADDITION TO THE EXTENT OF RS. 23,01,000/- (I.E., RS. 48,51,000/- - RS. 25,50,000/-) BY TREATING IT AS UNEXPLAINED CASH DEPOSITS AND THERE BY REMANDING THE ISSUE TO A.O., TO VERIFY THE TRANSACT IONS AND TO MAKE ADDITIONS TO THE EXTENT OF RS. 23,01,000/- FOR WHICH ALSO COMPLE TE EXPLANATION ALONGWITH EVIDENCES WERE FILED AND HENCE THE ORDER IS ILLEGAL , WITHOUT JURISDICTION, ARBITRARY AND THUS BAD IN LAW AND SO NEEDS TO BE QUASHED. (B) THAT WITHOUT PREJUDICE TO ABOVE, THE APPELLANT ALSO DISPUTES QUANTUM OF ADDITION AS HIGHLY EXCESSIVE AND THUS PERVERSE. 3. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSING O FFICER MADE ADDITION OF RS. 64,58,000/- ON ACCOUNT OF DEPOSITS IN THE IDBI BANK ACCOUNT AND ICICI BANK ACCOUNT . 4. LD. CIT(A) AFTER OBTAINING THE REMAND REPORT HAS ACCEPTED THE DEPOSITS OF RS. 25,50,000/- AND CONFIRMED THE REMAINING AMOUNT OF RS. 23,01,000/- WHICH THE ASSESSING OFFICER HELD THAT THE DEPOSITS COULD NOT BE PROPERLY EXPLAINED BY THE ASSESSEE. 2 5. BEFORE US , THE LD. AR BROUGHT TO OUR NOTICE THA T THE DEPOSITS DATED 04/05/2010 OF RS. 8,50,000/- , HAVE BEEN EXPLAINED BY FILING J FORM OF RS. 3,98,452/- WHICH HAS NOT BEEN CONSIDERED BY THE ASS ESSING OFFICER WHILE SENDING THE REMAND REPORT. FURTHER, HE SUBMITTED THAT THE A MOUNTS DEPOSITED ON 27/05/2010 AND 08/09/2010 OF RS. 5,00,000/- EACH WE RE PERTAINING TO THE AMOUNTS RECEIVED BY THE AGREEMENT FILED BEFORE THE ASSESSING OFFICER FROM THE PERSON NAMELY SHRI. SOHAN LAL WHICH THE ASSESSING O FFICER COULD NOT VERIFY AS PER THE REMAND REPORT. 6. THE AR PLEADED THAT GIVEN AN OPPORTUNITY THE ENT IRE DETAILS WOULD BE FILED TO THE SATISFACTION OF THE ASSESSING OFFICER 7. LD. DR ARGUED THAT NO FURTHER OPPORTUNITY BE GIV EN TO THE ASSESSEE HAS ALREADY SUFFICIENT OPPORTUNITY WERE GIVEN IN THE EA RLIER PROCEEDINGS. 8. ON GOING THROUGH THE FACTS AND CIRCUMSTANCES OF THE CASE WE FIND THAT THE INTEREST OF THE JUSTICE WOULD BE MET IF AN OPPO RTUNITY IS GIVEN TO THE ASSESSEE TO PRODUCE ALL THE RELEVANT DOCUMENTS AND PERSONS B EFORE THE ASSESSING OFFICER TO PROVE THE GENUINENESS OF THE TRANSACTION OF RS. 23,01,000/-. THE ORDER OF THE CIT(A) TO THE EXTENT OF GRIEVANCE RAISED IN THIS AP PEAL IS SET ASIDE AND THE MATTER IS RESTORED TO THE FILE OF THE ASSESSING OFFICER AC CORDINGLY. APPEAL IS TREATED AS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- . '.., # $, (SANJAY GARG ) ( DR. B.R.R. KUM AR, AM) / JUDICIAL MEMBER %& / ACCOUNTANT MEMBER AG DATE: 31/10/2018 (+! ,-.- COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. $ / CIT 4. $ / 01 THE CIT(A) 5. -2 45&456789 DR, ITAT, CHANDIGARH 6. 8:% GUARD FILE