ITO, Dausa V. SHRI AMAR NARAIN GUPTA, Dausa

ITA 552/JPR/2011

• Counselvise Citation: 55223114 RSA 2011
• Duration Of Justice: 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-11-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 16-11-2011
• Assessment Year: 2004-2005
• Appeal Filed On: 02-06-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K MEENA
• Keywords: Unexplained investment; Tax effect

Judgement Text

1 ITA 552-11 IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH B JAIPUR. ( BEFORE SHRI R.K. GUPTA AND SHRI N.L. KALRA ) ITA NO. 552/JP/2011 ASSTT. YEAR : 2006-07. THE INCOME-TAX OFFICER, VS. SHRI AMAR NARAINGUPT A, WARD DAUSA. M/S. CHOUDHARY IRON TRADERS, DAUSA. AGRA ROAD, DAUSA (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI D.K. MEENA RESPONDENT BY : NONE (ADJ. APPLICATIO N REJECTED) DATE OF HEARING : 16.11.2011 DATE OF PRONOUNCEMENT : 22.11.2011. ORDER DATED : 22/11/2011. PER R.K. GUPTA, J.M. THIS IS AN APPEAL BY DEPARTMENT AGAINST THE ORDER OF LD. CIT (A) RELATING TO ASSESSMENT YEAR 2006-07. 2. THE DEPARTMENT IS OBJECTING IN RESTRICTING THE A DDITION ON ACCOUNT OF UNEXPLAINED INVESTMENT TO RS. 4.5 LACS AGAINST RS. 11.41 LACS M ADE BY THE AO. 3. AFTER HEARING BOTH THE PARTIES AS WELL AS THE MA TERIAL AVAILABLE ON RECORD, THE BENCH NOTED THAT TAX EFFECT IN THE PRESENT CASE OF THE DEPARTMENT IS LESS THAN RS. 3,00,000/-, WHICH IS NOT MAINTAINABLE IN VIEW OF TH E NEWLY INSERTED PROVISIONS OF SECTION 268A OF THE I.T. ACT, CBDT INSTRUCTION AND THE DECI SION OF THIS BENCH IN THE CASE OF ITO 2 VS. SMT. GEETA DEVI GOYAL, 120 TTJ 136. ACCORDINGL Y, WE DISMISS THE APPEAL OF THE DEPARTMENT IN LIMINI. 4. IN THE RESULT, APPEAL OF THE DEPARTMENT IS DISMI SSED. 5. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 22. 11.2011. SD/- SD/- ( N.L. KALRA ) ( R.K. GUPTA ) ACCOUNTANT MEMBER JUDICIAL MEMBER JAIPUR, D/ COPY FORWARDED TO :- THE ITO WARD DAUSA. SHRI AMAR NARAIN GUPTA, DAUSA. THE CIT (A) THE CIT THE D/R GUARD FILE (ITA NO. 552/JP/2011) BY ORDER, AR ITAT JAIPUR.