AJAY MADHUKAR UGALE, NAGPUR V. INCOME TAX OFFICER, WARD-1(5), NAGPUR

ITA 49/NAG/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 2527 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 2 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-05-2024
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: SMC
• Next Hearing Date: 21-03-2024
• Assessment Year: 2017-2018
• Appeal Filed On: 14-02-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ABHAY Y. MARATHE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR “SMC” BENCH :NAGPUR [VIRTUAL HEARING] BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A.No.49/NAG./2023 Assessment Year 2017-2018 Shri Ajay Madhukar Ugale, 3, Bandu Soni Lay Out, Near Nagoba Temple, Ring Road, NAGPUR. PIN – 440 022. Maharashtra PAN AADPU2991F vs. The Income Tax Officer, Ward – 1(5), MECL Bldg., Dr. Baba Saheb Ambedkar Bhavan, Seminary Hills, Nagpur – 440 006. Maharashtra. (Appellant) (Respondent) For Assessee : -None- For Revenue : Shri Abhay Y. Marathe, Sr. DR Date of Hearing : 22.03.2024 Date of Pronouncement : 06.05.2024 ORDER This assessee’s appeal for assessment year 2017-18, arises against the National Faceless Appeal Centre [in short the “NFAC”] Delhi’s Din and Order No. ITBA/NFAC/S/250/ 2022-23/1047999768(1), dated 14.12.2022, involving proceedings u/s.144 of the Income Tax Act, 1961 (in short “the Act”). Case called twice. None appears at assessee’s behest. He is accordingly proceeded ex-parte. 2. It emerges at the outset that the relevant facts herein regarding the assessee’s sole substantive grievance seeking to reverse both the learned lower authorities action 2 ITA.No.49/NAG./2023 making sec.68 r.w.s.115BBE addition of Rs.1,95,000/-; are in a narrow compass indeed. The Assessing Officer admittedly made the corresponding addition of Rs.8,68,100/- representing assessee’s cash deposits made during demonetization period. And that the Ld. NFAC has already granted him a substantial relief by restricting the said addition of Rs.8,68,100/- to Rs.1,95,000/- as under : 3 ITA.No.49/NAG./2023 4 ITA.No.49/NAG./2023 3. Learned DR has strongly supported the impugned addition. The fact however remains that keeping in mind the assessee’s socio-economic status in light of NFAC’s findings having already granted substantial relief to him; further accumulation of cash in his hands at the time of demonetization could not be altogether ruled-out. Faced with this situation, this tribunal is of the considered opinion that a lump sum addition of Rs.1.25 lakhs only out of that in question of Rs.1,95,000/- would be just and proper with a rider that the instant estimation shall not be treated as a precedent. The assessee gets relief of Rs.65,000/- only. 5 ITA.No.49/NAG./2023 Necessary computation shall follow as per law. Ordered accordingly. 4. This assessee’s appeal is partly allowed in above terms. Order pronounced in the open Court on 06.05.2024. Sd/- [SATBEER SINGH GODARA] JUDICIAL MEMBER Pune, Dated 06 th May, 2024 VBP/- Copy to 1. The appellant 2. The respondent 3. The Pr. CIT, Nagpur concerned 4. D.R. ITAT, “SMC” Bench, Nagpur. 5. Guard File. //By Order// //True Copy // Sr. Private Secretary, ITAT, Pune Benches, Pune. S.No. Details Date 1 Draft dictated on 03.05.2024 Sr.PS 2 Draft placed before author 06.05.2024 Sr.PS 3 Draft proposed & placed before the Second Member 06.05.2024 J.M. 4 Draft discussed/approved by Second Member 06.05.2024 A.M. 5 Approved Draft comes to the Sr. PS/PS 06.05.2024 Sr.PS 6 Kept for pronouncement on 06.05.2024 Sr.PS 7 Date of uploading of Order .05.2024 Sr.PS 8 File sent to Bench Clerk .05.2024 Sr.PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order