Murugesan Saravanan, Chennai V. ITO, Non Corp Ward 18(1), Chennai

ITA 511/CHNY/2019

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 6569 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 28-02-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: A SUNDARARAJAN CIT
• Assessee Lawyers: A LAKSHMI
• Keywords: Unexplained investment; Opportunity of being heard; Capital Gains

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, C BENCH : CHENNAI , . , [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY , JUDICIAL MEMBER ] !' ./I.T.A. NO.511/CHNY/2019. #$% &$ / ASSESSMENT YEAR : 2014-2015. MURUGESAN SARAVANAN, NO.3/6A, KAMADHENU NAGAR, 5 TH STREET, SHEIK MANYAM, PORUR, CHENNAI 600 116. [PAN BIGPS 5288F] VS. THE INCOME TAX OFFICER, NON CORPORATE WARD 18(1) CHENNAI. ( / APPELLANT) ( /RESPONDENT) !' '( ) * / APPELLANT BY : MS. A. LAKSHMI. +,'( ) * /RESPONDENT BY : MR. A.SUNDARARAJAN, ADDL. CIT. # - ) . /DATE OF HEARING : 17-10-2019 /0&% ) . /DATE OF PRONOUNCEMENT : 21-10-2019 / O R D E R PER INTURI RAMA RAO, ACCOUNTANT MEMBER THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AG AINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEAL S)-15, CHENNAI (CIT(A) FOR SHORT) DATED 28.12.2018 FOR THE ASSE SSMENT YEAR (AY) 2014-2015. ITA NO. 511 /2019 :- 2 -: 2. T HE BRIEF FACTS OF THE CASE ARE AS UNDER: THE APPELLANT IS AN INDIVIDUAL DERIVING INCOME UNDER THE HEAD SALARY. THE RETURN OF INCOME FOR THE ASST. YEAR 2014-15 WAS FILED ON 21.09.2015 DISCLOSING TOTAL INCOME O F F 1,92,850/-. AGAINST THE SAID RETURN OF INCOME, THE ASSESSMENT W AS COMPLETED BY THE INCOME TAX OFFICER, NON CORPORATE WARD 18(1), CHENNAI VIDE ORDER DATED 07.12.2016 PASSED U/S. 14 3(3) OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT) AT TOTA L INCOME OF F81,65,288/-. WHILE DOING SO, THE ASSESSING OFFICER MADE ADDITIONS IN RESPECT OF UNEXPLAINED CASH DEPOSITED IN UCO BANK TO THE TUNE OF F13,96,500/-, UNEXPLAINED INVESTMENT OF F51,85,535 /- AND LONG TERM CAPITAL GAINS OF F12,90,405/-. 3. BEING AGGRIEVED, AN APPEAL WAS PREFERRED BEFORE LD. CIT(A), WHO VIDE IMPUGNED ORDER DISMISSED THE APPEAL IN LIM INE WITHOUT CONDONING THE DELAY OF 32 DAYS IN FILING THE APPEA L. 4. BEING AGGRIEVED BY THE ORDER OF THE LD. CIT(A), TH E APPELLANT IS IN APPEAL BEFORE US IN THE PRESENT APPEAL. 5. WE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATE RIAL ON RECORD. IT IS SUBMITTED THAT LD. CIT(A) HAD NOT GRANTED SUFFICIENT ITA NO. 511 /2019 :- 3 -: AND REASONABLE OPPORTUNITY OF BEING HEARD WHILE DIS POSING THE APPEAL. SUBMISSIONS MADE BY THE ASSESSEE HAS NOT BEEN CONTR OVERTED BY THE LD. DEPARTMENTAL REPRESENTATIVE. IN THE CIRCUMSTAN CES, WE REMIT THE ISSUE BACK TO THE FILE OF THE LD. CIT(A) FOR FRESH ADJUDICATION ON THE MERITS OF THE APPEAL AFTER AFFORDING DUE OPPORTUNIT Y OF HEARING TO THE APPELLANT IN ACCORDANCE WITH LAW. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON 21ST DAY OF OCTOBER, 2019, AT CHENNAI. SD/- SD/- ( . ! ) (DUVVURU RL REDDY) ' # /JUDICIAL MEMBER ( ) (INTURI RAMA RAO) /ACCOUNTANT MEMBER 1 #- / CHENNAI 2# / DATED: 21ST OCTOBER, 2019. KV 3 ) +.4 5' !6 5&. / COPY TO: 1 . !' '( / APPELLANT 3. 7. (!' ) / CIT(A) 5. 5 :; +.#< / DR 2. +,'( / RESPONDENT 4. 7. / CIT 6. ;$ =- / GF