Shri Amitkumar Dhirajlal Shah, Vapi V. The Income Tax Officer, Ward-1, Vapi

ITA 488/AHD/2016

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7562 (ITAT-SURAT)
• Duration Of Justice: 3 year(s) 4 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-07-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 01-03-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: J K CHANDNANI
• Assessee Lawyers: SURESH K KABRA
• Keywords: Gift
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH : SURAT BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER ITA.NO.488/AHD/2016 ASSESSMENT YEAR 2012-2013 SHRI AMITKUMAR DHIRAJLAL SHAH, PROP. M/S. AVE ENTERPRISES, 202, SIDDACHAL APARTMENT, B/H NAGAR PALIKA, VAPI PIN - 396195 PAN AQIPS0197N VS. THE INCOME TAX OFFICER, WARD-1, INCOME TAX OFFICE, 3 RD FLOOR, SHIVAM COMMERCIAL COMPLEX, NEAR VAISHALI CHAR RASTA, VAPI 396 195. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI SURESH K. KABRA, C.A. FOR REVENUE : SHRI J.K. CHANDNANI, SR. DR DATE OF HEARING : 22.07.2019 DATE OF PRONOUNCEMENT : 22.07.2019 ORDER PER BHAVNESH SAINI, J.M. THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A), VALSAD, DATED 05.02.201 6, FOR THE A.Y. 2012-2013, CHALLENGING THE ADDITION OF RS.14,8 0,000/- UNDER SECTION 68 OF THE I.T. ACT, 1961. EARLIER THE APPEAL OF 2 ITA.NO.488/AHD/2016 AMITKUMAR SHAH, VAPI. ASSESSEE WAS DISMISSED FOR NON-PROSECUTION WHICH WE RE RESTORED WHILE ALLOWING THE M.A. OF THE ASSESSEE. 2. IN THIS CASE, THE A.O. MADE THE ADDITION OF RS.14,80,000/- UNDER SECTION 68 OF THE I.T. ACT IN RESPECT OF THE UNEXPLAINED LOANS. THE ASSESSEE LATER ON SUBMIT TED BEFORE LD. CIT(A) THAT IT IS A CASE OF GIFT WHICH W AS NOT ACCEPTED BY THE LD. CIT(A) AND APPEAL OF ASSESSEE H AS BEEN DISMISSED. 3. LEARNED COUNSEL FOR THE ASSESSEE SEEKS PERMISSION TO WITHDRAW THE APPEAL AND AN ENDORSEMEN T TO THAT EFFECT HAVE BEEN MADE IN THE GROUNDS OF APPEAL . THE APPEAL OF ASSESSEE IS, THEREFORE, DISMISSED AS WITH DRAWN. 4. IN THE RESULT, APPEAL OF ASSESSEE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (O.P.MEENA) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER SURAT, DATED 22 ND JULY, 2019 VBP/- 3 ITA.NO.488/AHD/2016 AMITKUMAR SHAH, VAPI. COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT, SURAT BENCH, SURAT 6. GUARD FILE. //BY ORDER// ASST. REGISTRAR, ITAT, SURAT BENCH BENCH.