The ITO, Ward-9(1), Ahmedabad V. Shri Utpal Rajendrabhai Barot, Ahmedabad

ITA 486/AHD/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 63273 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-12-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 18-12-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 12-02-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T SHANKAR
• Keywords: Corroborative evidences
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD D BENCH BEFORE: SHRI MUKUL KR. SHRAWAT JUDICIAL MEMBER AND SHRI ANIL CHAT URVEDI, ACCOUNTANT MEMBER ITO, WD. 9(1), AHMEDABAD (APPELLANT) VS. UTPAL RAJENDRABHAI BAROT 6 SOMESHWAR BUNGLOWS PART- III, NR. BIDIWALA PARK SATELLITE AHMEDABAD (RESPONDENT) PAN:- ACUPB 2821 Q REVENUE BY : SRI T. SHANKAR, SR. D.R. ASSESSEE BY : NONE DATE OF HEARING : 18-12-2012 DATE OF PRONOUNCEMENT : 28-12-2012 / ORDER PER : MUKUL KR. SHRAWAT, JUDICIAL MEMBER:- THIS IS AN APPEAL FILED BY THE REVENUE ARISING FROM THE ORDER OF LD. CIT(A)XV AHMEDABAD DATED 04-12-2009 AND THE SOLITA RY GROUND RAISED IS REPRODUCED AS UNDER:- 1) THE LD. COMMISSIONER OF INCOME-TAX-XV, AHMEDABA D HAS ERRED IN LAW AND ON FACTS IN DELETING THE ADDITION OF RS. 14,28,000/- MADE BY THE ASSESSING OFFICER U/S. 69 ITA NO. 486/AHD/2010 A.Y.:-2006-07 ITA NO.486 /AHD/2010 A.Y. 2006-07 PAGE NO SHRI PANKAJ J. SHETH VS. INCOME TAX OFFICER 2 2. FACTS IN BRIEF AS EMERGED FROM THE CORRESPONDING ASSESSMENT ORDER PASSED U/S 143(3) DATED 15-12-2008 WHERE THAT THE A SSESSEE IN INDIVIDUAL CAPACITY IS IN THE BUSINESS OF LABOUR CONTRACTOR. IT WAS NOTED BY THE AO THAT THE ASSESSEE HAD MADE AN INVESTMENT OF RS. 25, 00,000/- IN NSC WHICH WAS ADDED U/S 69 IN THE TOTAL INCOME OF THE ASSESSE E. THE PRIMARY REASON FOR THE IMPUGNED ADDITION WAS THAT THE ASSESSEE HAD FAI LED TO PRODUCE THOSE PERSONS FROM WHOM THE FUNDS WERE RECEIVED AND STATE D TO HAVE BEEN INVESTED IN THE NSC. THE DETAILS OF THE SOURCE WER E AS UNDER:- SR. NO. PARTICULARS OF SOURCE OF INVESTMENT OF NSC AMT. RS. IN LACS 1 OPENING CASH ON HAND 7.03 2 RECEIVED IN CASH AS ADVANCE AGAINST SALE PROCEEDS OF FLAT SITUED AT SATELLITE, AHMEDBAD ON 17.04.2005 FROM SHRI GANPAT NARANBHAI BAROT 6.50 3 RECEIVED A LOAN THROUGH CHEQUE ON 03.05.2005 FROM RATNABHAI GOVINDBHAI 5.00 4 RECEIVED A LOAN OF RS. 1.25 LACS FROM HEMA B JOSH I ON 07.05.2005 1.25 5 RECEIVED A LOAN OF RS. 1/- LAC FROM DAYALSANG H DASONDI BY CHEQUE ON 10-12-2005 1.00 6 RECEIVED IN CASH AGAINST SALE PROCEED OF FLAT SIT UATED AT JODHPUR CROSS ROAD ON 22-04-2005 FROM SHRI MAHENDRAKUMAR VRUNDAVANDAS JOSHI 6.00 TOTAL 26.78 ITA NO.486 /AHD/2010 A.Y. 2006-07 PAGE NO SHRI PANKAJ J. SHETH VS. INCOME TAX OFFICER 3 3. ON EXAMINING OF EACH SOURCE LD. CIT(A) HAS HELD THAT THERE WAS AVAILABILITY OF OPENING CASH OF RS. 7,0,3000/- AND THAT LOAN RECEIVED FROM RATNABHAI GOVINDBHAI WAS THROUGH CHEQUE OF RS. 5,00 ,000/- AND THAT LOAN RECEIVED FROM HEMA B. JOSHI OF RS. 1.25 LACS WAS AL SO THROUGH CHEQUE AND THAT THE LOAN RECEIVED OF RS. 1 LACS FROM DAYALSANG H DASONDI WAS ALSO THROUGH CHEQUE HENCE DIRECTED TO DELETE THE ADDITI ON UPTO THE SAID EXTENT. HOWEVER, IN RESPECT OF CASH RECEIVED ON ALLEGED SAL ES PROCEEDS OF FLAT SITUATED AT SATELLITE, AHMEDABAD OF RS. 6.5 LACS AN D THAT CASH RECEIVED ON SALE PROCEEDS OF FLAT AT JODHPUR CROSS ROAD OF RS. 6 LACS WAS FOUND TO BE NOT ACCEPTABLE BECAUSE OF THE NON-PRODUCTION OF PARTIES AND THE SUPPORTING EVIDENCE, THEREFORE, UPHELD THE ADDITION. 4. NOW, BEFORE US, NO-ONE HAS APPEARED FROM THE SID E OF THE RESPONDENT- ASSESSEE. WE HAVE NOTICED THAT IN THE PAST AS WELL NO-ONE HAS APPEARED FROM THE SIDE OF THE RESPONDENT-ASSESSEE ALTHOUGH THE NO TICES WERE ISSUED. DUE TO SUCH REASON IT WAS DIRECTED TO SERVE THE NOTICE THR OUGH REVENUE DEPARTMENT. TODAY BEFORE US THE REVENUE DEPARTMENT HAS INTIMATE D VIDE A LETTER DATED 14-12-2012(NO. ITO/WARD-9(1)/ITA NO. 486/A/2010/201 2-13) THAT THE NOTICE HAS DULY BEEN SERVED ON THE ASSESSEE ON 14-1 2-2012. EVEN AFTER THE PROPER SERVICE OF NOTICE, NO-ONE HAS APPEARED FROM THE SIDE OF THE ASSESSEE. UNDER THOSE CIRCUMSTANCES, WE HAVE DECIDED TO PROCE ED EX-PARTE QUA THE ASSESSEE AFTER HEARING LD. SR. D.R. T. SANKAR, WHO HAS PLACED RELIANCE ON THE VIEW TAKEN BY THE AO AND ALSO INTIMATED THAT AGAINS T THE PART RELIEF GIVEN BY LD. CIT(A); ON INQUIRY IT WAS FOUND THAT NO APPEAL WAS FILED BY THE RESPONDENT-ASSESSEE. 5. WE HAVE CONSIDERED SUBMISSION OF LD. D.R. AND AL SO CAREFULLY PERUSED THE ORDERS OF THE AUTHORITIES BELOW. WE HE REBY AFFIRM THE VIEW TAKEN BY LD. CIT(A). WE HAVE NOTED THAT LD. CIT(A) HAS EXAMINED THE ITA NO.486 /AHD/2010 A.Y. 2006-07 PAGE NO SHRI PANKAJ J. SHETH VS. INCOME TAX OFFICER 4 SOURCE OF INVESTMENT AS INTIMATED BY THE ASSESSEE. WE FIND NO FALLACY IN THE PART RELIEF GRANTED BY THE LD. CIT(A). AS FAR AS L OANS TAKEN THROUGH ACCOUNT PAYEE CHEQUE WERE CONCERNED, LD. CIT(A) HAS GIVEN A CATEGORICAL FINDING THAT THE CONFIRMATIONS WERE FURNISHED OF THOSE PART IES AND PART OF THE AMOUNT OF LOAN HAD ALSO BEEN RETURNED TO THOSE PARTIES. I T HAS ALSO BEEN NOTED BY LD. CIT(A) THAT PAN NOS. OF THOSE PERSONS HAVE ALSO BEE N FURNISHED. FURTHER, IN RESPECT OF AVAILABILITY OF OPENING CASH, IT WAS NOTED BY LD. CIT(A) THAT THE ASSESSEE HAS FURNISHED THE CASH BOOK IN SUPPORT OF THE AVAILABILITY OF THE OPENING CASH BALANCE AND HENCE THE SAID EXPLANATION OF THE ASSESSEE WAS FOUND ACCEPTABLE TO LD. CIT(A). SINCE THE UNCONTRO VERTED FACTUAL FINDING HAS BEEN GIVEN BY LD. CIT(A), THEREFORE, IN THE ABS ENCE OF ANY CONTRA- EVIDENCE, WE FIND NO FALLACY IN THOSE FINDINGS AND AFFIRM THE SAME. RESULTANTLY, PART RELIEF BY LD. CIT(A) IS HEREBY AF FIRMED AND THE GROUND RAISED BY THE REVENUE HEREBY DISMISSED. 6. REVENUES APPEAL IS DISMISSED. SD/- SD/- (ANIL CHATURVEDI (MUKUL KR. SHRA WAT) ACCOUNTANT MEMBER JUDICIAL M EMBER AHMEDABAD : DATED 28/12/2012 AK / COPY OF ORDER FORWARDED TO:- 1. / APPELLANT 2. / RESPONDENT 3. / CONCERNED CIT 4. - / CIT (A) 5. , ! , '# / DR, ITAT, AHMEDABAD 6. $% &' / GUARD FILE. BY ORDER/ , // TRUE COPY // ( / ' ) ! , '#