Sh. Gurcharan Singh, New Delhi V. ITO, New Delhi

ITA 6198/DEL/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 6629 (ITAT-DELHI)
• Duration Of Justice: 2 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 21-02-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 02-12-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: F R MEENA
• Assessee Lawyers: ASHISH GOEL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : SMC-I : NEW DELHI BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER ITA NO.6198/DEL/2016 ASSESSMENT YEAR : 2010-11 GURCHARAN SINGH, B-146, OKHLA INDUSTRIAL AREA, PHASE-I, NEW DELHI. PAN: AKAPS4442A VS. ITO, WARD-22(1), NEW DELHI. (APPELLANT) (RESPONDENT) ASSESSEE BY : MS RANO JAIN, ADVOCATE & SHRI ASHISH GOEL, CA DEPARTMENT BY : SHRI F.R. MEENA, SR. DR DATE OF HEARING : 22.02.2017 DATE OF PRONOUNCEMENT : 22.02.2017 ORDER THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY THE CIT(A) ON 28.09.2016 AGAINST THE CONF IRMATION OF ADDITION OF RS.10,77,905/- MADE BY THE AO ON ACC OUNT OF CASH DEPOSIT IN THE BANK ACCOUNT. ITA NO.6198/DEL/2015 2 2. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT T HE ASSESSEE DEPOSITED A SUM OF RS.44,86,975/- IN HIS SAVINGS BA NK ACCOUNT WITH PNB, ALAKNANDA, NEW DELHI, WHICH REMAINED UNEXPLAINED DESPITE SUFFICIENT OPPORTUNITIES GIVEN BY THE AO. TO PROVIDE JUSTICE TO THE ASSESSEE, THE AO COMPUTED THE AMOUNT OF UNEXPLAINED CASH RECEIPTS/DEPOSITS AS UND ER:- 1. TOTAL CASH DEPOSIT IN BANK ACCOUNT - RS.44,86 ,075/- 2. TOTAL CASH WITHDRAWAL FROM ABOVE BANK - RS.28,1 4,780/- 3. DIFFERENCE OF THE ABOVE TREATED AS BUSINESS INCO ME- RS.16,71,295/- 4. LESS: INCOME DISCLOSED IN ITR - RS. 5,93,390/ - 5. BALANCE, TREATED AS UNDISCLOSED INCOME - RS.10, 77,905/- 3. THAT IS HOW, AN ADDITION OF RS.10,77,905/- WAS M ADE WHICH CAME TO BE AFFIRMED IN THE FIRST APPEAL. THE ASSESSEE IS AGGRIEVED AGAINST THE SUSTENANCE OF SUCH ADDITION. 4. I HAVE HEARD THE PARTIES AND PERUSED THE RELEVAN T MATERIAL ON RECORD. THE LD. AR DID NOT DISPUTE ANY OF THE FI GURES TAKEN BY THE AO IN THE ABOVE CALCULATION EXCEPT THE AMOUN T OF TOTAL ITA NO.6198/DEL/2015 3 CASH WITHDRAWALS FROM THE ABOVE BANK TAKEN BY THE A O AT RS.28,14,780/-. THE LD. AR SUBMITTED THAT THE AO W ENT WRONG IN ADOPTING THIS FIGURE AS AGAINST THE CORRECT FIGU RE OF RS.41,26,970/-. THIS WAS SOUGHT TO BE FORTIFIED BY PLACING ON RECORD CERTAIN DETAILS OF CASH DEPOSITS AND WITHDRA WALS FROM THE BANK ACCOUNT. THIS FACTUAL ASPECT NEEDS VERIFIC ATION AT THE END OF THE AO. IN VIEW OF THIS, I AM OF THE CONSIDE RED OPINION THAT THE ENDS OF JUSTICE WOULD MEET ADEQUATELY IF T HE IMPUGNED ORDER ON THIS SCORE IS SET ASIDE AND THE MATTER IS RESTORED TO THE FILE OF AO. I ORDER ACCORDINGLY AND DIRECT HIM TO VERIFY THE FIGURE OF TOTAL CASH WITHDRAWALS FROM THE BANK AND SUBSTITUTE THE CORRECT FIGURE WITH THE AMOUNT OF RS.28,14,780/ - AND, THEREAFTER, DETERMINE UNDISCLOSED INCOME, IF ANY, F ROM THE CALCULATION MADE BY HIM. ITA NO.6198/DEL/2015 4 5. IN THE RESULT, THE APPEAL IS ALLOWED FOR STA TISTICAL PURPOSES. THE ORDER PRONOUNCED IN THE OPEN COURT ON 22.02.201 7. SD/- [R.S. SYAL] ACCOUNTANT MEMBER DATED, 22 ND FEBRUARY, 2017. DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.