Uma Shankar Gupta, Gwalior V. I.T.O., Ward No. 3(2), Gwalior

ITA 563/AGR/2012

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 0660 (ITAT-AGRA)
• Duration Of Justice: 6 year(s) 4 month(s) 26 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 16-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 22-07-2013
• Assessment Year: 2009-2010
• Appeal Filed On: 21-12-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S D SHARMA
• Section: 44AD

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH, AGRA BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI A.L. GEHLOT, ACCOUNTANT MEMBER ITA NO.563/AGRA/2012 ASSESSMENT YEAR: 2009-10 SHRI UMA SHANKAR GUPTA, VS. INCOME TAX OFFICER, S/O. SHRI RAM SWARUP GUPTA, WARD NO.3(2), GWALIO R. BHURE BABA KI BASTI, CHHATRI BAZAR, GWALIOR. (PAN: AIUPG 0830 E). (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAJENDRA SHARMA, ADVOCATE RESPONDENT BY : SHRI S.D. SHARMA, JR. D.R. DATE OF HEARING : 22.07.2013 DATE OF PRONOUNCEMENT : 26.07.2013 ORDER PER A.L. GEHLOT, ACCOUNTANT MEMBER: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER DATED 02.11.2012 PASSED BY THE LD. CIT(A), GWALIOR FOR THE ASSESSMEN T YEAR 2009-10. 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL :- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) WAS NOT JUSTIF IED IN LAW AND ON FACTS IN HOLDING THAT ASSESSEES EXPLANATION OF DEPOSIT OF RS.2962125/- IN BANK ACCOUNT IS NOT TO BE ACCEPTED AND THEREBY CONFIRMING THE ADDITION. THE ABOVE ADDITION MAY KI NDLY BE DELETED OR SUITABLY REDUCED AND INTERFERED WITH. 2. THE APPELLANT CRAVES LEAVE TO ADD, ALTER, AMEND OR SUBSTITUTE ANY GROUND AT THE TIME OR BEFORE HEARING OF APPEAL. ITA NO.563/AGRA/2012 A.Y. 2009-10 2 3. THE BRIEF FACTS OF THE CASE ARE THAT THE A.O. WH ILE COMPLETING THE ASSESSMENT MADE ADDITION OF RS.29,62,125/- ON ACCOUNT OF DEPOS IT IN BANK ACCOUNT IN SBI, CITY CENTRE, GWALIOR AS THE ASSESSEE HAS FAILED TO EXPLA IN SATISFACTORILY THE SOURCE OF DEPOSIT. THE ADDITION MADE BY THE A.O. HAS BEEN CO NFIRMED BY THE CIT(A). 4. THE LD. AUTHORISED REPRESENTATIVE FURNISHED ADDI TIONAL EVIDENCE ALONG WITH AN AFFIDAVIT WHICH HAVE BEEN PLACED IN THE PAPER BO OK. IN THE AFFIDAVIT, IT IS STATED THAT THE ASSESSEE IS ENGAGED IN THE BUSINESS OF SCR AP/BARDANA AND RS.29,62,125/- IN CASH WAS DEPOSITED IN BANK OUT OF THE BUSINESS TRAN SACTION OF SCRAP AND BARDANA. IN THIS REGARD, SOME CONFIRMATIONS HAVE ALSO BEEN F URNISHED. LD. AUTHORISED REPRESENTATIVE SUBMITTED THAT THE ASSESSEE WHILE FU RNISHING RETURN OF INCOME DECLARED INCOME APPLYING SECTION 44AD OF THE INCOME TAX ACT, 1961 (THE ACT HEREINAFTER) @ 8% GROSS RECEIPT OF CONTRACTOR. THE ASSESSEE HAS ALSO SHOWN ESTIMATED PROFIT FROM BARDANA TRADING AT RS.72,000/ -. THE ASSESSEE HAS FURNISHED RETURN DECLARING TOTAL INCOME OF RS.1,34,000/- OUT OF WHICH RS.72,000/- IS FROM BARDANA TRADING AND RS.61,997/- OUT OF CONTRACT BUS INESS. THE LD. AUTHORISED REPRESENTATIVE SUBMITTED THAT THE A.O. AND CIT(A) B OTH HAVE NOT PROPERLY APPRECIATED THE FACTS OF THE CASE AND THEY HAVE CON SIDERED ONLY ONE ASPECT OF THE MATTER I.E. INCOME FROM CONSTRUCTION OFFERED UNDER SECTION 44AD OF THE ACT. A DETAILED SUBMISSION WAS ALSO MADE BEFORE THE CIT(A) WHICH HAS ALSO NOT BEEN CONSIDERED BY THE CIT(A). ITA NO.563/AGRA/2012 A.Y. 2009-10 3 5. THE LD. DEPARTMENTAL REPRESENTATIVE, ON THE OTHE R HAND, RELIED UPON THE ORDER OF CIT(A) AND SUBMITTED THAT THE ASSESSEE HAS FAILED TO FURNISH THE DETAILS INSPITE OF REASONABLE OPPORTUNITY PROVIDED TO THE A SSESSEE. 6. WE HAVE HEARD THE LD. REPRESENTATIVES OF THE PAR TIES AND RECORDS PERUSED. WE NOTICE THAT THE ASSESSEE HAS SHOWN INCOME FROM C ONTRACT RECEIPTS UNDER PRESUMPTION UNDER SECTION 44AD OF THE ACT. THE ASS ESSEE HAS ALSO SHOWN INCOME FROM BARDANA ON ESTIMATION BASIS. THE ASSESSEE HAS FURNISHED EVIDENCE IN THIS REGARD WHICH HAS NOT BEEN CONSIDERED BY THE CIT(A). CONSIDERING THE TOTALITY OF THE FACTS OF THE CASE, WE NOTICE THAT THE CASE IS R EQUIRED TO BE RECONSIDERED AFTER VERIFYING THE RELEVANT FACTS AND MATERIAL FILED BY THE ASSESSEE. WE, THEREFORE, THINK IT PROPER TO SEND BACK THE MATTER TO THE FILE OF A. O. WITH THE DIRECTION TO DECIDE THE ISSUE AFRESH IN ACCORDANCE WITH LAW AFTER PROVIDING REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. 7. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. (ORDER PRONOUNCED IN THE OPEN COURT) SD/- SD/- (BHAVNESH SAINI) (A.L. GEHLOT) JUDICIAL MEMBER ACCOUNTANT M EMBER PBN/* ITA NO.563/AGRA/2012 A.Y. 2009-10 4 COPY OF THE ORDER FORWARDED TO:- 1. APPELLANT 2. RESPONDENT 3. CIT (APPEALS) CONCERNED 4. CIT CONCERNED 5. D.R., ITAT, AGRA BENCH, AGRA 6. GUARD FILE. BY ORDER SR. PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL, AGRA TRUE COPY