Murali Golla , Nalgonda V. Income Tax Officer, Ward-1, Nalgonda

ITA 599/Hyd/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7702 (ITAT-HYDERABAD)
• Duration Of Justice: 4 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-03-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 23-03-2021
• Assessment Year: 2017-2018
• Appeal Filed On: 03-11-2020
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: N SRIKANTH
• Assessee Lawyers: K V CHALAMAIAH
• Section: 143(3); 201; 207

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD SMC BENCH : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S. GODA R A, JUDICIAL MEMBER ITA NO. 599 /HYD./20 20 ASSESSMENT YEAR: 20 17 - 1 8 SRI MURALI GOLLA VS. ITO, WARD 1 NALGONDA NALGONDA [PAN: A EFPG5992L ] (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI K.V. CHALAMAIAH, AR FOR REVENUE : SRI N. SRIKANTH, D.R. DATE OF HEARING : 23/03/ 2021 DATE OF PRONOUNCEMENT : 30 /0 3 /2021 O R D E R TH IS ASSESSEES APPEAL FOR A.Y. 2018 - 19 ARISE S AGAINST THE C OMMISSIONER OF INCOME TAX (APPEALS) [CIT(A)] - 3 HYDERABAD S ORDER DATED 31.08.2020 PASSED IN CASE NO. 10257 /2019 - 20 IN PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 [IN SHORT THE ACT]. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. COMING TO THE SOLE SUBSTANTIVE GRIEVANCE THAT LEARNED LOWER AUTHORITIES HAVE ERRED IN LAW IN TREATING CASH DEPOSITS OF RS.6,30,000/ - AS UNEXPLAINED; I NOTICE AT THE OUTSET IN PAGE 7 OF ASSESSEES PAPER BOOK CONTAINING THE TAX PAYERS CASH ACCOUNT THAT H IS OPENING BALANCE AS ON 01.04.2016 WAS RS.4, 83,957/ - . THIS CLINCHING FACT HAS GONE UNREBUTTED FROM DEPARTMENT SIDE. THE FACT ALSO REMAINS ASSESSEE HAS NOT BEEN ABLE TO EXPLAIN THE SOURCE OF REMAINING CASH DEPOSIT AMOUNTING TO RS.1,47,000/ - I THEREFORE DIRECT THE ITA NO. 599 /HYD/ 2020 AY 201 7 - 18 SRI MURALI GOLLA, NALGONDA . 2 ASSESSING OFFICER TO DELETE THE IMPUGNED ADDITION TO THE EXTENT OF OPENING CASH BALANCE OF RS.4,83,957/ - . REMAINING COMPONENT OF THE IMPUGNED ADDITION SHALL STAND CONFIRMED. NECESSARY COMPUTATION WILL FOLLOW AS PER LAW. TH IS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 30 /0 3 /2021. SD/ - (S.S. GODARA) JUDICIAL MEMBER DATED: 30 TH MARCH, 2021 GMV COPY OF ORDER FORWARDED TO: 1. SRI MURALI GOLLA, 14 - 24/2, SEETHARAMAPURAM, MIRYALAGUDA, NALGONDA , TELANGANA 508 207 . 2. ITO, WARD 1, NALGONDA 3. J CIT, RANGE 7, HYDERABAD 4. CIT(A) - 3 , HYDERABAD. 5. PR.CIT - 3 , HYDERABAD 6 D.R. ITAT HYDERABAD 7. GUARD FILE