Sharad Janardan Bhavar, Ahmednagar V. Income-Tax Officer, Ward 1, Ahmednagar

ITA 623/PUN/2020

• Counselvise Citation: [2022] 107 COUNSELVISE.COM (IT) 1176 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 30-11-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT आयकर अपील सं. / ITA No.623/PUN/2020 नधा रण वष / Assessment Year : 2015-16 Sharad Janardan Bhavar, A/P. Talegaon, Talegaon Male, Tal. Kopergaon, Dist. Ahmednagar - 413 708 Maharashtra PAN : BTMPB0133P Vs. ITO, Ward-1, Ahmednagar (Appellant) (Respondent) आदेश / ORDER PER R.S.SYAL, VP : This appeal by the assessee is directed against the order passed by the CIT(A)-2, Pune on 16-09-2020 in relation to the assessment year 2015-16. 2. The only issue raised in this appeal is the confirmation of addition of Rs.3,33,195/-. 3. Briefly stated, the facts of the case are that the assessee had filed an application for declaration in Income Tax Declaration Scheme during 2016 before the Pr.CIT disclosing income for five years including the assessment year under consideration (Rs.15,099). Appellant by None Respondent by Shri M.G. Jasnani Date of hearing 01-08-2022 Date of pronouncement 01-08-2022 ITA No. 623/PUN/2020 Sharad Janardan Bhavar 2 Since due taxes were not paid, the declaration became ineffective. The Assessing Officer (AO) issued notice u/s.148, in response to which the assessee filed his return declaring total income of Rs.2,40,760/-. The AO observed that the assessee had deposited a sum of Rs.1,66,59,773/- in his bank account. Treating such amount as gross amount received by the assessee from cotton business, from which commission income was earned, the AO applied 2% rate of commission on such deposits of Rs.1.66 crore, thereby making the addition of Rs.3,33,195/-. The ld. CIT(A) sustained the same, against which the assessee has come up in appeal before the Tribunal. 4. I have heard the learned DR and gone through the relevant material on record. There is no appearance from the side of assessee despite notice. It is seen that the only case made by the AO is the taxability of 2% commission income on gross amount deposited in the bank account at Rs.1.66 crore, which comes to Rs.3,33,195/-. Nothing has been brought on record to show that the assessee had any other source of income as well. The assessee filed return declaring total income of Rs.2,40,760/-. In that view of the matter, the only excess amount of Rs.92,435/- (Rs.3,33,195 – Rs.2,40,760) ITA No. 623/PUN/2020 Sharad Janardan Bhavar 3 ought to have been included in the assessee’s total income. I, therefore, restrict the addition to this extent. 5. In the result, the appeal is partly allowed. Order pronounced in the Open Court on 01 st August, 2022. Sd/- (R.S.SYAL) उपा य / VICE PRESIDENT प ु णे Pune; दनांक Dated : 01 st August, 2022 Satish आदेश क त ल प अ े षत / Copy of the Order is forwarded to : 1. अपीलाथ / The Appellant; 2. यथ / The Respondent; 3. The CIT(A)-2, Pune 4. 5. The Pr.CIT-2, Pune वभागीय त न ध, आयकर अपील!य अ धकरण, प ु णे “SMC” / DR ‘SMC’, ITAT, Pune; 6. गाड फाईल / Guard file. आदेशान ु सार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune ITA No. 623/PUN/2020 Sharad Janardan Bhavar 4 Date 1. Draft dictated on 01-08-2022 Sr.PS 2. Draft placed before author 01-08-2022 Sr.PS 3. Draft proposed & placed before the second member -- JM 4. Draft discussed/approved by Second Member. -- JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *