Sh. Rakesh Kumar Goswami, Banda V. ITO, Banda

ITA 543/ALLD/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 94955 (ITAT-ALLAHABAD)
• Duration Of Justice: 11 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2004-2005
• Appeal Filed On: 08-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K
• Keywords: Gift; Principle of natural justice

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL ALLAHABAD BENCH, ALLAHABAD BEFORE SHRI S. V. MEHROTRA , ACCOUNTANT MEMBER I.T.A .NO. 543 / ALLD /201 4 (ASSESSMENT YEAR - 200 4 - 0 5 ) SH. RAKESH KUMAR GOSWAMI VS. IT O MOH. KHANDIYA, CHARKHARI, 6 - (4), BANDA. MAHOBA, (U.P .) PAN: A JJPG4082E (APPELLANT) (RESPONDENT) ASSESSEE BY: - NONE REVENUE BY: - SHRI A.K. PANDEY , DR DATE OF HEARING: 26/010/2015 ORDER PRONOUNCED ON: 30 /10/2015 ORDER T HIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 04 . 0 6 .201 4 P ASSED BY THE LD. CIT (A) , KANPUR , IN RELATION TO THE ASSESSMENT YEAR 200 4 - 0 5 . 2. B RIEF FACTS OF THE CASE ARE THAT THE ASSESSEE HAD FILED HIS RETURN OF INCOME IN THE STATUS OF INDIVIDUAL DECLARING TOTAL INCOME OF RS.1,82,520/ - AND AGRICULTURAL INCOME OF R S.1,90,000/ - ALONGWITH THE COMPUTATION OF INCOME, CAPITAL ACCOUNT, BALANCE SHEET , TDS FORM NO.16A, CHALLAN AND OTHER DOCUMENTS WHICH WAS PROCESSED U/S 143(1) OF THE INCOME TAX ACT. 3. SUBSEQUENTLY, IT WAS NOTICED THAT THE ASSESSEE HAD RECEIVED A GIFT OF RS .33,48,128/ - IN INDIAN CURRENCY FROM HIS NEPHEW SHRI ASHISH KUMAR GOSWAMI, 260 WOOD SIDE COURT, AOT. # 227 ROCHESTER HILLS M148307 IN THE 2 SHAPE OF 50,000 USD . ASSESSEE HAD FILED COPY OF TRANSFER OF THE GIFT OF RESURGENT INDIA BONDS RECEIVED BY SBI ON 14 TH JUNE, 2003 . T HEREAFTER NOTICE U/S 143(2) DATED 25 TH NOVEMBER 2005 WAS ISSUED IN TERMS OF CLAUSE 3 OF THE INSTRUCTION NO.9 & 10/2004 DATED 20 TH SEPTEMBER, 2004 OF CBDT CIRCULAR. 4. THE AO , AFTER DETAILED CONSIDERATION OF FACTS , DETERMINED THE TOTAL INCOME AT RS.12,29 ,138/ - , AS UNDER: INCOME FROM BUSINESS INTEREST & REMUNERATION FROM THE FIRM M/S KRISHNA BOREWELLS RS.42410/ - INCOME FROM OTHER SOURCES BANK INTEREST SB & FDR AS DECLARED RS.152112/ - ADD: - I) ACCRUED INTEREST ON KVP RS.1352/ - II ) SHORT DECLARATION OF INTEREST ON STDR/FDR AS AGREED RS.14750/ - III) EXCESS INVESTMENT IN FDRS/STDRS AS PER BALANCE SHEET RS.435260/ - IV) BANK INTEREST NOT SHOWN IN THE RETURN RS.33347/ - V) ACCRUED INTEREST ON STDRS RS.9818/ - VI) INTERE ST CREDIT IN HDFC BANK BANGALORE NOT SHOWN BUT INCLUDED IN DIFFERENCE OF E/O AS DISCUSSED ABOVE RS.40534/ - VII) UNEXPLAINED DEPOSIT IN BANK HDFC BANGALORE AS DISCUSSED ABOVE. RS.29250/ - VIII) EXPENDITURE OF THE CURRENT RECEIPT AS DISCUSSED ABOVE. (1082305 - 600,000/ - ) RS.482305/ - RS.1241138/ - LESS: - DEDUCTION U/S 80L RS. 12000/ - RS.1229138/ - OR TOTAL INCOME RS.1229140/ - 5. BEING AGGRIEVED, THE ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT(A) WHIC H WA S DECIDED EXPARTE ON MERITS B ECAUSE ASSESSEE DID NOT AVAIL 3 VARIOUS OPPORTUNITIES MENTION ED IN PARA 3 OF CIT(A) ORDER. THE ASSESSEES APPEAL WAS PARTLY ALLOWED BY THE LD. CIT(A). 6. AFTER CONSIDERING THE SUBMISSION S OF LD. DR AND THE NATURE OF ADDITION S PAR TLY SUSTAINED BY LD. CIT(A) WHICH HA D BEEN SUSTAINED EITHER BECAUSE NO EXPLANATION WAS FILED BY THE ASSESSEE OR THE RELEVANT DETAILS WERE NOT FURNISHED BY HIM , I CONSIDER IT APPROPRIATE IN ORDER TO IMPART SUBSTANTIAL JUSTICE TO ASSESSEE IN CONFIRMITY WITH THE PRINCIPLE S OF NATURAL JUSTICE , TO RESTORE THE MATTER BACK TO THE FILE OF LD. CIT(A) TO DECIDE THE APPEAL DE NOVO BECAUSE NEITHER THE ASSESSEE NOR THE DEPARTMENT WAS PRESENT BEFORE LD. CIT(A). I DIRECT ACCORDINGLY . 7. IN THE RESULT, THE ASSESSEES APPE AL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 30 /10/201 5 . SD/ - ( S. V. MEHROTRA ) ACCOUNTANT MEMBER DATED: 30 /10/2015 *AK VERMA* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTR AR