Smt. Ramvir Singh Raghav, New Delhi V. ACIT, New Delhi

ITA 5969/DEL/2012

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 7261 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 1 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: F
• Next Hearing Date: 07-12-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 30-11-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: V R SONBHADRA
• Assessee Lawyers: VIVEK SHARMA
• Keywords: Unexplained cash credit; Additional evidence
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI N.K. SAINI, AM & SMT. BEENA A. PILLAI, JM ITA NO.5969/DEL/2012 ASSESSMENT YEAR : 2008-09 RAMVIE SINGH RAGHAV , K-37 UDYOG NAGAR, INDUSTRIAL AREA ROHTAL ROAD, NEW DELHI PAN: AAKPR3937M VS. ACIT , CIRCLE- 25(1), NEW DELHI. ( AP PELLANT ) ( RESPONDENT ) ASSESSEE BY : SHRI VIVEK SHARMA ADVOCATE DEPARTMENT BY : S HRI V.R. SONBHADRA , SR. DR DATE OF HEARING : 16 .1 2 . 2015 DATE OF PRONOUNCEMENT : 21.01.2016 ORDER PER BEENA A. PILLAI, JM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER PASSED BY THE CIT(A) 24 ON 26.9.2012 IN RELATION TO THE ASSESSMENT YEARS 2008-09. ITA NO.5969/DEL/2012 2 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAINST THE ADDITION OF RS.13,64,500/- ON ACCOUNT OF UNEXPLAINED CASH CREDI TS IN RESPECT OF LOANS AND ADVANCES TAKEN BY THE ASSESSEE FROM DIFFE RENT PARTIES AND ADDITION OF RS.32,19,360/- ON ACCOUNT OF UNEXPL AINED CASH CREDITS IN RESPECT OF PURCHASES MADE BY THE ASSESSE E. 3. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT T HE ASSESSEE IS AN INDIVIDUAL ENGAGED IN BUSINESS OF PRINTING UNDER TH E STYLE AND NAME OF M/S. ABHINAV PRINTS. THE ASSESSEE ALSO HAS ANOTHER PROPRIETARY CONCERN IN THE NAME OF M/S. VAYAPAR BHA RTI, WHICH IS ENGAGED IN THE ACTIVITY OF PUBLICATION OF BUSINESS NEWS PAPERS, MAGAZINES AND DIRECTORIES . 3.1. THE CASE WAS SELECTED FOR SCRUTINY AND NOTICES WERE ISSUED TO THE ASSESSEE. HOWEVER THE ASSESEE DID NOT APPEAR BE FORE THE LD.AO AND SO THE ASSESSMENT ORDER WAS PASSED U/S.144 OF T HE ACT BY MAKING AN ADDITION OF RS.3,89,87,044/- THE AO ADDE D THE SAME U/S 68 OF THE ACT. 3.2. AGGRIEVED BY THE ORDER OF THE LD.AO THE ASSESS EE PREFERRED AN APPEAL BEFORE THE LD,CIT(A). THE ASSESSEE FILED CER TAIN DOCUMENTS IN RESPECT OF THE CASH CREDITS. THE SAME WAS REMANDED TO THE LD.AO. IN ITA NO.5969/DEL/2012 3 UPHOLDING THE ADDITION, THE LD. CIT(A) REFUSED TO A DMIT/ENTERTAIN ADDITIONAL EVIDENCE FILED BY THE ASSESSEE UNDER RUL E 46A IN SUPPORT OF HIS CONTENTION. ON THE BASIS OF THE REMAND REPO RT THE LD CIT(A) CONFIRMED ADDITION OF RS.13,64,500/- ON ACCOUNT OF UNEXPLAINED IN LOANS CASH CREDITS RESPECT OF AND ADVANCES TAKEN BY THE ASSESSEE FROM DIFFERENT PARTIES AND ADDITION OF RS.32,19,360 /- ON ACCOUNT OF UNEXPLAINED CASH CREDITS IN RESPECT OF PURCHASES MA DE BY THE ASSESSEE. 4. AGGRIEVED AGAINST THE SUSTENANCE OF ADDITION TO THE ABOVE EXTENT, THE ASSESSEE IS IN APPEAL BEFORE US. 4.1. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSE D THE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT THE ASSESS EE ADMITTEDLY MADE CASH CREDITS IN RESPECT OF LOANS AND ADVANCES TAKEN BY THE ASSESSEE FROM DIFFERENT PARTIES AND CASH CREDITS IN RESPECT OF PURCHASES MADE BY THE ASSESSEE. WHEN THE ASSESSEE T RIED TO FURNISH ADDITIONAL EVIDENCE BEFORE THE LD. CIT(A), HE REFUSED TO ADMIT SUCH ADDITIONAL EVIDENCE ON THE GROUND THAT T HE AO GAVE ENOUGH OPPORTUNITIES TO THE ASSESSEE. ITA NO.5969/DEL/2012 4 4.2. CONSIDERING THE TOTALITY OF THE FACTS AND CIRC UMSTANCES IN THE INSTANT CASE AND WITHOUT COMMENTING UPON THE MERITS OF THE ADDITIONAL EVIDENCE, WE ARE OF THE CONSIDERED OPINI ON THAT THE ENDS OF JUSTICE WOULD MEET ADEQUATELY IF THE IMPUGNED OR DER IS SET ASIDE PRO TANTO AND THE MATTER IS RESTORED TO THE FILE OF AO. WE O RDER ACCORDINGLY AND DIRECT THE AO TO EXAMINE THE ASSESS EES CONTENTION IN THIS REGARD AND, THEN, DECIDE THE ISSUE AFRESH. NEEDLESS TO SAY, THE ASSESSEE WILL BE AT LIBERTY TO FILE FRESH EVIDE NCE BEFORE THE AO IN SUPPORT OF HIS CONTENTION IN SUCH FRESH PROCEEDINGS . 5. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. THE ORDER PRONOUNCED IN THE OPEN COURT ON 21.01.201 6. SD/- SD/- (N.K. SAINI) (BEENA PILLAI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 21.01.2016 DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.