Shri Ajay G.Deshmukh, Baroda V. The Income tax Officer,Ward-1(2), Baroda

ITA 552/AHD/2012

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 0216 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 7 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-10-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 26-07-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 05-03-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit
• Section: 68; 144

Judgement Text

I.T.A. NO . 552 /AHD/201 2 A SSESSMENT Y EAR: 200 5 - 06 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH, SMC , AHMEDABAD [CORAM: PRAMOD KUMAR AM] I.T.A. NO. 552 /A HD/ 20 1 2 ASSESSMENT Y EAR : 200 5 - 06 AJAY G. DESHMUKH .... . ...... . ... . APPELLANT C/O. 106 - 108, SHRIJI AVENUE, JETALPUR ROAD, ALKAPURI, BAR ODA 390 005 [ PAN: A BSPD 6821 F ] VS. IN COME TAX OFFICER, WARD - 1(2), BARODA. ... ............ . RESPONDENT APPEARANCES BY: TUSHAR P. HEMANI , FOR THE APPELLANT SATISH SOLANKI , FOR THE RESPONDENT D ATE OF CONCLU DING THE HEARING : 26 .0 7 .2016 DATE OF PRONOUNCING THE ORDER : 25 .10.2016 O R D E R 1. THIS APPEAL, FILED BY THE ASSESSEE, CHALLENGES LEARNED CIT(A) S ORDER DATED 1 ST DECEMBER 2011, IN THE MATTER OF ASSESSMENT UNDER SECTION 144 R.W.S. 1 47 OF THE INCOME TAX ACT 1961, FOR THE ASSESSMENT YEAR 2005 - 06. 2. THE ONLY GRIEVANCE RAISED BY THE ASSESSEE, AS PRESSED BEFORE ME, IS AS FOLLOWS : - THE CIT (APPEALS) FAILED TO APPRECIATE THAT AN ADDITION TO THE TUNE OF RS.29,04,264/ - HA S ALREADY BEEN MA DE IN THE HANDS OF M/S DESHCHEM TECHNOLOGICAL RESOURCES PVT . LTD . FOR THE YEAR UND E R CONSIDERATION IN TH E FORM OF UNEXPLAINED CASH CREDIT U/S 68 OF THE ACT A ND HENCE, ADDITION OF THE SAME IN YOU APPELLANT S HAND WOULD AMOUNT TO DOUBLE ADDITION. 3. LEARNE D REPRESENTATIVES FAIRLY AGREE THAT THIS ISSUE IS REQUIRED TO BE REMITTED TO THE FILE OF THE LEARNED CIT ( A ) AS, IN THE CASE OF DESCHEM TECHNOLOGICAL RESOURCES PVT. LTD. AND VIDE ORDER DATED 29 TH OCTOBER 2010, THE MATTER REGARDING ADDITION IN THE HANDS I.T.A. NO . 552 /AHD/201 2 A SSESSMENT Y EAR: 200 5 - 06 PAGE 2 OF 2 OF T HE COMPANY, WHEREIN RELATED SHARE CAPITAL SUBSCRIPTION/UNSECURED LOAN HAS BEEN ADDED, STANDS REMITTED TO THE FILE OF THE CIT(A). 4. IN VIEW OF THE ABOVE FACTUAL POSITION, I DEEM IT FIT AND PROPER T O REMIT THE MATTER TO THE FILE OF THE LEARNED CIT(A) FOR A DJUDICATION DENOVO IN THE LIGHT OF THE ABOVE OBSERVATIONS, IN ACCORDANCE WITH THE LAW AND BY WAY OF A SPEAKING ORDER. I ORDER SO. 5. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN THE TERMS INDICATED ABOVE. P RONOUNCED IN THE OPEN COURT TODAY ON 25 TH DAY OF OCTOBER , 2016. SD/ - PRAMOD KUMAR (ACCOUNTANT MEMBER) DATED: THE 25 TH DAY OF OCTOBER , 2016. PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD