Shri Ravi Mishra, Barabanki V. The Income Tax Officer- 5(5), Barabanki

ITA 524/LKW/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0913 (ITAT-LUCKNOW)
• Duration Of Justice: 4 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-11-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 25-06-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Corroborative evidences

Judgement Text

I.T.A. NO.524/LKW/2018 ASSESSMENT YEAR:2010-11 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH SMC, LUCKNOW BEFORE SHRI T. S. KAPOOR, ACCOUNTANT MEMBER ITA NO.524/LKW/2018 ASSESSMENT YEAR:2010-11 SHRI RAVI MISHRA, 339, KATRA, BARABANKI. PAN:ARTPM 9140 P VS. INCOME TAX OFFICER-5(5), BARABANKI. (APPELLANT) (RESPONDENT) O R D E R THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF LEARNED CIT(A)-II, LUCKNOW DATED 13/04/2018 PERTAINING TO A SSESSMENT YEAR 2010- 2011. 2. IN THIS APPEAL THE ASSESSEE HAS RAISED AS MANY A S SEVEN GROUNDS OF APPEAL OUT OF WHICH GROUND NO. 1,2,4,5,6 AND 7 WERE NOT PRESSED DURING THE COURSE OF HEARING. NOW THE ONLY GROUND WHICH SURVI VES FOR ADJUDICATION IS GROUND NO. 2 WHICH READS AS UNDER: 2. THE LEARNED AUTHORITIES BELOW DID NOT APPRECIAT E THAT THE ASSESSEE HAS MADE A SELF WITHDRAWAL OF RS.10,00,000 /- FROM HIS S.B. ACCOUNT NO.86312140000040 WITH SYNDICATE BANK ON 24/09/2009 AND PAID PURCHASE CONSIDERATION RS.8,00, 000/- AS CASH TO BUYER BEFORE REGISTRY ON 24/09/2009 WHICH I S VERIFIABLE APPELLANT BY SHRI K. R. RASTOGI, C.A. RESPONDENT BY S HRI C. K. SINGH, D.R. DATE OF HEARING 15/11/2018 DATE OF PRONOUNCEMENT 20/11/2018 I.T.A. NO.524/LKW/2018 ASSESSMENT YEAR:2010-11 2 FROM SALE DEED ITSELF, HENCE NO ADDITION SHOULD BE MADE IN THIS REGARD. 3. THE FACTS OF THE CASE, IN BRIEF, ARE THAT THE AS SESSEE HAS PURCHASED IMMOVABLE PROPERTY DURING THE ASSESSMENT YEAR 2010- 11. AS PER THE SALE DEED THE SALE CONSIDERATION WAS PAID OF RS.8,00,000 /- AND STAMP DUTY OF RS.2,60,500/- WAS PAID. THE ASSESSING OFFICER HELD THAT THE ASSESSEE HAS AN INCOME OF RS.10,60,000/- AND HIS RETURN OF INCOM E FOR THE RELEVANT YEAR SHOWED AN INCOME OF RS.1,94,821/- WHICH INCLUDED RS .1,13,890/- EXEMPT U/S 10(2A) OF THE ACT. THE DIFFERENCE OF RS.8,65,1 79/- WAS TREATED AS INCOME OF THE ASSESSEE. THE ASSESSEE WENT IN APPE AL BEFORE THE CIT(A) WHO UPHELD THE ADDITION MADE BY THE ASSESSING OFFIC ER. 4. I HAVE HEARD THE RIVAL PARTIES AND HAVE GONE TH ROUGH THE MATERIAL PLACED ON RECORD. LEARNED CIT(A) WHILE ADJUDICATI NG THE ISSUE HAS MENTIONED IN HIS ORDER THAT ON PERUSAL OF THE BANK STATEMENT OF ACCOUNT NO.86312140000040 WITH SYNDICATE BANK, IT IS NOTED THAT THERE IS A DEBIT OF RS.10,00,000/- ON 24/09/2009 THROUGH SELF CHEQUE BU T THE ASSESSEE HAS NOT EXPLAINED WITH SUPPORTING EVIDENCE THAT THE AFORESA ID WITHDRAWAL HAS BEEN UTILIZED FOR PAYMENT OF PURCHASE OF PROPERTY. THE CIT(A) HAS ALSO OBSERVED THAT THE ASSESSEE HAS NOT SATISFACTORILY EXPLAINED THE SOURCE OF INVESTMENT OF RS.10,60,000/- MADE IN THE IMMOVABLE PROPERTY DU RING THE YEAR UNDER CONSIDERATION AND HAS CONFIRMED THE ADDITION MADE B Y THE ASSESSING OFFICER. I FAIL TO UNDERSTAND AS TO WHICH SUPPORTING EVIDENC E THE CIT(A) IS EXPECTING FROM THE ASSESSEE TO PRODUCE. THE LEARNED CIT(A) H AS HIMSELF STATED IN HIS ORDER AT PARA 12 THAT THERE IS A DEBIT OF RS.10,00, 000/- ON 24/09/2009 WHICH SHOWS THAT THE AMOUNT HAS BEEN WITHDRAWN FROM THE BANK THROUGH SELF CHEQUE AND AT PARA 13 THE LEARNED CIT(A) HAS M ENTIONED THAT THE ASSESSEE HAS NOT SATISFACTORILY EXPLAINED THE SOURC E OF INVESTMENT. THE ASSESSEE HAS PURCHASED PROPERTY ON 24.09.2009 WHICH IS APPARENT FROM I.T.A. NO.524/LKW/2018 ASSESSMENT YEAR:2010-11 3 COPY OF SALE DEED PLACED AT PAPER BOOK PAGES 11 TO 36. THE PURCHASE CONSIDERATION AS MENTIONED ON THE SALE DEED IS RS.8 ,00,000/- AND ON 24.09.2009 ITSELF FOR ASSESSEE HAD WITHDRAWN RS.100 ,000/- FROM HIS BANK ACCOUNT A COPY OF WHICH IS PLACED AT P.B. PAGE 7. U NDER THESE FACTS, I SET ASIDE THE ORDER OF LEARNED CIT(A) AND ALLOW THE APP EAL OF THE ASSESSEE ON MERITS AND HENCE GROUND NO.2 IS ALLOWED. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED. (ORDER PRONOUNCED IN THE OPEN COURT ON 20/11 /2018) SD/. ( T. S. KAPOOR ) ACCOUNTANT MEMBER DATED:20/11/2018 *SINGH COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. CONCERNED CIT 4. THE CIT(A) 5. D.R., I.T.A.T., LUCKNOW