Kerman Pervez Wadia, Pune V. Income-tax Officer, Ward - 7(3), Pune

ITA 491/PUN/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0659 (ITAT-PUNE)
• Duration Of Justice: 8 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-12-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 19-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ARISES OUT OF PASSED

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT . / ITA NO.491/PUN/2018 / ASSESSMENT YEAR : 2014-15 KERMAN PERVEZ WADIA, PLOT NO.10, SANAYA RAJIV NAGAR, VIMAN NAGAR, PUNE 411 014 PAN : ABFPW2747J VS. ITO, WARD-7(3), PUNE (APPELLANT) (RESPONDENT) / ORDER PER R.S.SYAL, VP : THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER PASSE D BY THE CIT(A)-5, PUNE ON 20-11-2017 IN RELATION TO THE ASSESSMENT YEAR 2014-15. 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAINST THE CONFIRMATION OF ADDITION OF RS.3,71,612/- 3. SUCCINCTLY, THE FACTS OF THE CASE, ARE THAT THE AO, ON VERIFICATION OF TDS DETAILS IN FORM NO. 26AS STATEMENT, APPELLANT BY SHRI R.P. PRATINIDHI RESPONDENT BY SHRI M.K. VERMA DATE OF HEARING 04-12-2018 DATE OF PRONOUNCEMENT 04-12-2018 ITA NO.491/PUN/2018 KERMAN PERVEZ WADIA 2 OBSERVED THAT THE ASSESSEE HAD NOT SHOWN RECEIPT OF RS.3,71,612/- FROM M/S M.I. OVERSEAS LIMITED. HE, THER EFORE, MADE AN ADDITION FOR THE SAID SUM, WHICH CAME TO BE AFFIRM ED IN THE FIRST APPEAL. THE ASSESSEE IS AGGRIEVED BY THE ADDITION . 4. HAVING HEARD BOTH THE SIDES AND PERUSED THE RELEVANT MATERIAL ON RECORD, IT IS SEEN THAT THE ASSESSEE FURNISHED A REVISED FORM 26AS AND A LETTER FROM M/S M.I. OVERSEAS LIMITED DATED 14-03-2008 INDICATING THAT ENTRY OF RS.3,71,612/- WAS WRONGLY PUNCHED INTO THE ACCOUNT OF THE ASSESSEE FOR THE YEAR. THE LD. AR SUBMITTED THAT THE SUM O F RS.3,71,612/- WAS ACTUALLY RECEIVED IN THE PRECEDING YEAR AND DULY OFFERED FOR TAXATION IN THE RETURN OF INCOME FILED FOR TH E A.Y. 2013-14. UNDER THESE CIRCUMSTANCES, I AM OF THE CONSIDERED OPINION THAT THE ENDS OF JUSTICE WOULD MEET ADEQUATELY IF THE IMPUGNED ORDER IS SET-ASIDE AND THE MATTER IS RESTORED TO THE FILE OF AO. I ORDER ACCORDINGLY AND DIRECT HIM TO VERIFY THE ASSESSEES CONTENTION ABOUT THE INCLUSION OF RS.3,71,612/- IN HIS INCOME FOR THE PRECEDING YEAR. IF SUCH A CONTENTION IS FOUND TO BE CORRECT, THEN THE AMOUNT SHOULD NOT BE ADDED TO THE INCOME OF THE INSTANT YEAR. ITA NO.491/PUN/2018 KERMAN PERVEZ WADIA 3 5. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 04 TH DECEMBER, 2018. SD/- (R.S.SYAL) / VICE PRESIDENT PUNE; DATED : 04 TH DECEMBER, 2018 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. ( ) / THE CIT (APPEALS)-5, PUNE 4. / THE PR. CIT-4, PUNE 5. , , SMC / DR SMC, ITAT, PUNE; 6. / GUARD FILE. // TRUE COPY // / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE ITA NO.491/PUN/2018 KERMAN PERVEZ WADIA 4 DATE 1. DRAFT DICTATED ON 04-12-18 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 04-12-18 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *