Amit Ambadas Mete, Aurangabad V. Income-tax Officer, Ward - 2 (4), Aurangabad

ITA 564/PUN/2019

• Counselvise Citation: [2021] 129 COUNSELVISE.COM (IT) 9856 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 10 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 12-01-2021
• Assessment Year: 2010-2011
• Appeal Filed On: 10-04-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: ARISES OUT OF PASSED
• Keywords: Business income; Additional evidence; Reassessment proceedings; Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC, PUNE VIRTUAL COURT BEFORE SHRI R.S. SYAL, VICE PRESIDENT . / ITA NO.564/PUN/2019 / ASSESSMENT YEAR : 2010-11 AMIT AMBADAS METE, PLOT NO.3, BAJAJ NAGAR, WALUJ, KAMGAR CHOWK, PANDHARPUR, AURANGABAD MAHARASHTRA 431 001 PAN : AUBPM0115H VS. ITO, WARD-2(4), AURANGABAD (APPELLANT) (RESPONDENT) / ORDER PER R.S. SYAL, VP : THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER PASS ED BY THE CIT(A)-2, AURANGABAD ON 17-01-2019 IN RELATION TO THE ASSESSMENT YEAR 2010-11. 2. THE LD. AR DID NOT PRESS GROUND NO.2 CHALLENGING INITIATION OF REASSESSMENT PROCEEDINGS. THE SAME IS, THEREFO RE, DISMISSED AS SUCH. APPELLANT BY SHRI PIYUSH BAFNA RESPONDENT BY SHRI SUDHENDU DAS DATE OF HEARING 11-02-2021 DATE OF PRONOUNCEMENT 11-02-2021 ITA NO. 564/PUN/2019 AMIT A. METE 2 3. THE ONLY GROUND CHALLENGED BEFORE THE TRIBUNAL IS THE CONFIRMATION OF ADDITION OF RS.15,66,472/- TOWARDS CASH DEPOSITS IN THE BANK. 4. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT THE ASSESSIN G OFFICER (AO) INITIATED REASSESSMENT PROCEEDINGS ON THE BASIS OF CERTAIN TRANSACTIONS INDICATING CASH DEPOSITS AMOUNTING TO RS.15,66,472/- IN THE ASSESSEES BANK ACCOUNT. THE AS SESSEE REMAINED UNREPRESENTED BEFORE THE AO. CONSIDERING THE MATERIAL ON RECORD, THE AO MADE ADDITION FOR THIS SUM U/S.68 OF THE ACT BY MEANS OF AN EX PARTE ORDER PASSED U/S.144 OF THE ACT. THE LD. CIT(A) CONFIRMED THE ADDITION ALBEIT U/S.69 AS AGAINST 68 INVOKED BY THE AO. AGGRIEVED THEREBY, THE ASSESSEE H AS COME UP IN APPEAL BEFORE THE TRIBUNAL. 5. HAVING HAVE HEARD THE RIVAL SUBMISSIONS THROUGH VIRTUAL COURT AND GONE THROUGH THE RELEVANT MATERIAL ON RECORD, IT IS SEEN THAT THE AO MADE ADDITION OF RS.15,66,472/- TOWARDS CASH DEPOSITS MADE BY THE ASSESSEE IN THE BANK ACCOUNT. THE LD. AR CONTENDED THAT THESE WERE BUSINESS RECEIPTS OF THE ASSESSEE WHICH OUGHT TO HAVE BEEN TAXED TOWARDS PROFIT ELEMENT THEREIN . FAIRLY ADMITTING THAT THE ASSESSEE COULD NOT APPEAR BEFORE THE AO FOR CERTAIN REASONS BEYOND CONTROL, THE LD. AR REQUES TED FOR ITA NO. 564/PUN/2019 AMIT A. METE 3 ONE MORE ROUND OF PROCEEDINGS BEFORE THE AO IN ORDER TO ENABLE THE COMPLETION OF ASSESSMENT ON THE BASIS OF CERTAIN ADDITIONAL EVIDENCE FORTIFYING THE ASSESSEES VERSION AS TO THE SOURCE OF THE CASH DEPOSITS. SIMULTANEOUSLY, THE LD. AR A LSO PRAYED FOR ADMISSION OF THE ADDITIONAL EVIDENCE. ACCEPTING THE PRAYER OF THE ASSESSEE AND WITHOUT GOING INTO THE MERITS OF THE CASE, I CONSIDER IT APPROPRIATE TO SET ASIDE THE IMPUGNED ORDER AND REMIT THE MATTER TO THE FILE OF AO FOR REFRAMING THE ASSESSMENT AFRESH AS PER LAW AFTER ALLOWING REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. I ORDER ACCORDING LY. NEEDLESS TO SAY, THE ASSESSEE WILL BE AT LIBERTY TO LEAD ANY F RESH EVIDENCE TO SUPPORT HIS POINT OF VIEW IN THE FRESH ASSESSMEN T. 6. IN THE RESULT, THE APPEAL IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH FEBRUARY, 2021. SD/- (R.S.SYAL) / VICE PRESIDENT PUNE; DATED : 11 TH FEBRUARY, 2021 SATISH ITA NO. 564/PUN/2019 AMIT A. METE 4 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. ( ) / THE CIT (APPEALS)-2, AURANGABAD 4. THE PR. CIT-2, AURANGABAD 5. , , SMC / DR SMC, ITAT, PUNE; 6. / GUARD FILE. // TRUE COPY // / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE DATE 1. DRAFT DICTATED ON 11-02-2021 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 11-02-2021 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER -- JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. -- JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *