Suresh Kumar Jain, Haryana V. ACIT, Panipat

ITA 6191/DEL/2016

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 3602 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-03-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2010-2011
• Appeal Filed On: 02-12-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SARAS KUMAR
• Section: 143(3)

Judgement Text

ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 1 OF 9 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: G: NEW DELHI) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER ITA NO:- 6191/DEL/2016 ( ASSESSMENT YEAR: 2010-11) SURESH KUMAR JAIN PROP. M/S CROWN INTERNATIONAL, BEHIND SECTOR-29, HUDA PANIPAT, HARYANA- 132103. VS. ASSTT. COMMISSIONER OF INCOME TAX, PANIPAT CIRCLE, PANIPAT. PAN NO: ABUPJ7047B APPELLANT RESPONDENT ASSESSEE BY : NONE REVENUE BY : SHRI SARAS KUMAR, SR. DR ORDER PER ANADEE NATH MISSHRA, AM (A) THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE IMPUGNED APPELLATE ORDER DATED 19.09.2016 PASSED BY LEARNED COMMISSIONER OF INCOME TAX (APPEALS), KARNAL [IN SHORT, LD.CIT(A)] PERTAINING TO ASSESSMENT YEAR 2 010-11. THE ASSESSEE HAS RAISED FOLLOWING GROUNDS OF APPEAL:- 1. THAT ON THE FACTS AND AS PER THE CIRCUMSTANCES OF THE CASE, BOTH THE LOWER AUTHORITIES I.E. AO & ACIT(A), HAVE ERRED IN ASSESS ING THE INCOME OF THE APPELLANT AT RS. 1,45,63,490/- AS AGAINST RETURNED INCOME OF RS. 1,23,03,030/-. AS SUCH THE AGGREGATE ADDITIONS OF RS. 18,13,789/- AS CONFIRMED BY THE FIRST APPELLATE AUTHORITY ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 2 OF 9 MAY PLEASE BE DELETED. 2. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF TH E CASE & IN LAW, THE LD. CIT(A) HAVE ERRED IN CONFIRMING THE ADDITION AGGREG ATING TO RS 14,36,333/- (RS.13,50,000/- + RS. 86,333/-) MADE BY THE AO ON A CCOUNT OF ACCEPTANCE OF UNSECURED LOANS FROM DIFFERENT PARTIES WHILE TREATI NG THE SAME AS CASH CREDITS AND AGGREGATING TO RS 13,50,000/- AND BY DISALLOWING TH E INTEREST CLAIMED THEREON OF RS. 86,333/-. THE AO & ACIT(A) FAILED TO CONSIDER T HE CREDITWORTHINESS, GENUINENESS AND IDENTITY OF THE PARTIES AND ALSO FA ILED TO APPRECIATE THE FACT THAT THE PRIMARY ONUS WAS DULY DISCHARGED BY THE APPELLA NT, MORESO WHEN THE ALLEGED CASH CREDITORS WERE RELATIVES AND FAMILY MEMBERS OF THE APPELLANT. AS SUCH, THE AGGREGATE ADDITION OF RS 14,36,333/- MADE TO THE RE TURNED INCOME MAY PLEASE BE DELETED. 3. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF TH E CASE AND ALSO IN LAW, THE AO AS WELL AS THE LD CIT(A) HAVE BOTH ERRED IN MAKI NG AND CONFIRMING RESPECTIVELY, AN ADDITION OF RS. 3,77,456/- ON ACCO UNT OF DISALLOWANCE OF INTEREST CLAIMED U/S 36(L)(III) OF THE ACT BY WRONGLY RELYIN G ON THE RATIO OF THE JUDGMENT RENDERED IN THE CASE OF CIT V/S ABHISHEK INDUSTRIES LTD RENDERED BY THE HONBLE PUNJAB AND HARYANA HIGH COURT AND AS SUCH THE ADDIT ION AMOUNTING TO RS. 3,77,456/- MAY KINDLY BE DELETED. 4. WE CRAVE TO ADD, ALTER, DELETE OR MODIFY OR WITH DRAW ANY OF ABOVE GROUNDS OF APPEAL AT THE TIME OF HEARING. (B) VIDE ASSESSMENT ORDER DATED 28.03.2013 PASSED UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT I.T. ACT). THE RELEVANT P ORTION OF THE ASSESSMENT ORDER DATED 28.03.2013 IS REPRODUCED AS UNDER:- ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 3 OF 9 ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 4 OF 9 (C) THE ASSESSEE FILED APPEAL BEFORE THE LD. CIT(A). V IDE IMPUGNED APPELLATE ORDER DATED 19.09.2016, WHEREIN LD. CIT(A) PARTLY ALLOWED ASSES SEES APPEAL. THE RELEVANT PORTION OF THE ORDER DATED 19.09.2016 OF THE LD. CIT(A) IS REPRODU CED AS UNDER: ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 5 OF 9 ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 6 OF 9 (D) THIS PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE AFORESAID IMPUGNED APPELLATE ORDER DATED 19.09.2016 OF THE LD . CIT(A). AT THE TIME OF HEARING, REVENUE WAS REPRESENTED BY SHRI SARAS KUMAR, THE LE ARNED SENIOR DEPARTMENTAL REPRESENTATIVE (LD. SR. DR, FOR SHORT). HOWEVER, NONE WAS PRESENT FROM THE ASSESSEES SIDE. IN THE ABSENCE OF ANY REPRESENTA TION FROM ASSESSEES SIDE, AT THE TIME ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 7 OF 9 OF HEARING BEFORE US, WE HEARD THE LD. SR. DR; WHO RELIED UPON THE ORDER DATED 28.03.2013 OF THE ASSESSING OFFICER AND THE AFORESA ID IMPUGNED APPELLATE ORDER DATED 19.09.2016 OF THE LD. CIT(A). AFTER PERUSAL OF THE MATERIALS ON RECORD, INCLUDING THE ORDER OF THE AO AND THE AFORESAID IMPUGNED ORDER DA TED 19.09.2016 OF THE LD. CIT(A), WE FIND THAT THE LD. CIT(A) HAS PASSED SPEAKING ORD ER ON MERITS. RELEVANT PORTION OF THE IMPUGNED ORDER OF THE LD. CIT(A) HAS ALREADY BE EN REPRODUCED IN FOREGOING PARAGRAPH (C) OF THIS ORDER. WE FIND THAT THE LD. CIT(A) HAS GIV EN DETAILED REASONS FOR HIS DECISION ON MERITS IN THE AFORESAID IMPUGNED AP PELLATE ORDER DATED 19.09.2016 OF LD. CIT(A). DURING APPELLATE PROCEEDINGS IN INCOME TAX APPELLATE TRIBUNAL (ITAT, FOR SHORT) NO MATERIAL HAS BEEN BROUGHT FOR OUR CONSIDE RATION TO PERSUADE US TO TAKE A VIEW DIFFERENT FROM THE VIEW TAKEN BY THE LD. CIT(A) IN THE IMPUGNED ORDER ON MERIT. AFTER HEARING THE LD. SR. DR AND AFTER PERUSAL OF MATERIA LS ON RECORD, AND FURTHER, IN VIEW OF THE FOREGOING DISCUSSION, WE DECLINE TO INTERFERE W ITH THE AFORESAID IMPUGNED APPELLATE ORDER DATED 19.09.2016 OF LD. CIT(A), AND ACCORDING LY, THIS APPEAL IS DISMISSED. [E] BEFORE WE PART; WE EXPLICITLY CLARIFY THAT THE ASSESSEE WILL BE AT LIBERTY TO APPROACH ITAT FOR RESTORATION OF THE APPEAL IN ACCO RDANCE WITH PROVISO TO RULE 24 OF INCOME TAX (APPELLATE TRIBUNAL), RULES, 1963. IF THE ASSESSEE DOES APPROACH ITAT FOR RESTORATION OF THE APPEALS I N ITAT, THE MATTER WILL BE CONSIDERED IN ACCORDANCE WITH LAW HAVING REGARD TO THE FACTS AND CIRCUMSTANCES. ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 8 OF 9 [F] IN THE RESULT, APPEAL FILED BY ASSESSEE IS DISMISS ED. ORDER IS PRONOUNCED IN OPEN COURT ON 05/03/20. SD/- SD/- (AMIT SHUKLA) (ANADEE NATH MISSHR A) JUDICIAL MEMBER ACCOUNTANT MEMBE R DATED: 05/03/20 POOJA/- COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI ITA NO.- 6191/DEL/2019 SURESH KUMAR JAIN PAGE 9 OF 9 DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER