Smt. Priti Goyal, Indore V. The ITO 4(2), Indore

ITA 585/IND/2012

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 7878 (ITAT-INDORE)
• Duration Of Justice: 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-12-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 19-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , INDORE BENCH, INDORE BEFORE SHRI R.C.SHARMA, ACCOUNTANT MEMBER PAN NO. : ADPPG2109L I.T.A.NO. 585 /IND/201 2 . A.Y. : 2008 - 09 SMT.PRITI GOYAL, ITO, 28/4, MALHARGANJ, INDORE. VS 4(2), INDORE. APPELLANT RESPONDENT APPELLANT BY : SHRI RAM GILDA, ADV. RESPONDENT BY : SHRI R. A. VERMA, SR. DR DATE OF HEARING : 24 . 1 2 .2012 DATE OF PRONOUNCEMENT : 24 . 1 2 .201 2 O R D E R THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) DATED 30 TH JULY, 2012, FOR THE ASSESSMENT YEAR 2008- 09. 2. THE ASSESSEE IS AGGRIEVED FOR ADDITION OF RS. 2,05,000/- MADE BY THE ASSESSING OFFICER U/S 68 OF THE -: 2: - 2 INCOME-TAX ACT, 1961, AND WHICH WAS CONFIRMED BY TH E LD.CIT(A). 3. I HAVE HEARD THE LD. AUTHORIZED REPRESENTATIVE AND LD. SENIOR DR 4. DURING THE YEAR, THE ASSESSEE HAS OBTAINED LOAN FRO M VARIOUS PERSONS AMOUNTING TO RS. 2,05,000/- FOR WHI CH SHE FILED CONFIRMATIONS FROM ALL OF THEM. BY OBSERVING THAT CONFIRMATION SO FILED SUFFERS FROM SOME DEFECTS, TH E ASSESSING OFFICER DID NOT ACCEPT THE SAME AND ADDED IN ASSESS EES INCOME. BY PASSING EX-PARTE ORDER, THE CIT(A) CONFI RMED THE ADDITION. THERE IS NO DISPUTE TO THE FACT THAT IN C ASE OF LOAN CREDITOR, THE ASSESSEE IS NOT ONLY REQUIRED TO PROV E THE IDENTITY BUT ALSO GENUINENESS OF TRANSACTION AND CREDITWORTH INESS OF LOAN CREDITORS. IN THE INSTANT CASE BEFORE ME, I FO UND THAT BY FILING LOAN CONFIRMATIONS FROM ALL THE LOAN CREDITO RS, THE ASSESSEE HAS ESTABLISHED IDENTITY OF LOAN CREDITORS . IT APPEARS THAT DUE TO SOME DEFECT IN THE LOAN CONFIRMATIONS, THE ASSESSING OFFICER HAS NOT ACCEPTED THE SAME AND WIT HOUT GIVING ANY FINDING ON THE GENUINENESS OF TRANSACTIO N AND CREDITWORTHINESS OF LOAN CREDITORS ADDED ENTIRE AMO UNT OF LOAN -: 3: - 3 IN ASSESSEES INCOME. UNDER THESE FACTS AND CIRCUMS TANCES, I FOUND THAT THE ASSESSEE HAS NOT GOT PROPER OPPORTUN ITY TO EXPLAIN THE SAME AND THE CIT(A) HAS ALSO PASSED EX- PARTE ORDER AND CONFIRMED THE ADDITION. IN THE INTEREST O F JUSTICE, THE MATTER IS RESTORED BACK TO THE FILE OF ASSESSING OF FICER FOR DECIDING AFRESH AND THE ASSESSEE IS DIRECTED TO REM OVE THE DEFECTS IN THE LOAN CONFIRMATION LETTER AS INDICATE D ABOVE. THE ASSESSING OFFICER IS TO DECIDE THE ISSUE AFRESH AS PER LAW. I DIRECT ACCORDINGLY. 5. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 24 TH DECEMBER, 2012. SD/ - (R. C. SHARMA) ACCOUNTANT MEMBER DATED : 24 TH DECEMBER, 2012. CPU* 2612