Falguni Jagdish Raval, Ahmedabad V. ITO, Ward-4(2)(2), Ahmedabad

ITA 639/AHD/2019

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 7193 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 7 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 11-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit
• Section: 148; 143(3)

Judgement Text

आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरणआयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद 瀈यायपीठ अहमदाबाद 瀈यायपीठअहमदाबाद 瀈यायपीठ अहमदाबाद 瀈यायपीठ ‘बी’ अहमदाबाद। अहमदाबाद।अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD (through web-based video conferencing platform) ] ] BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA No. 639/Ahd/2019 Assessment Years : 2010-11 Falguni Jagdishbhai Raval, C-501, Gaurav Tower, Nr. Nutan School, Rannapark, Ghatlodia, Ahmedabad-380063 PAN : AJJPR 6230 P Vs Income Tax Officer, Ward-4(2)(2), Ahmedabad अपीलाथ牸 अपीलाथ牸अपीलाथ牸 अपीलाथ牸/ (Appellant) 灹त् 灹त् 灹त् 灹त् यथ牸 यथ牸यथ牸 यथ牸/ (Respondent) Assessee by : None Revenue by : Shri Kamlesh Makwana, Sr DR सुनवाई क琉 तारीख/Date of Hearing : 10/11/2021 घोषणा क琉 तारीख /Date of Pronouncement: 01/12/2021 आदेश आदेशआदेश आदेश/O R D E R PER RAJPAL YADAV, VICE PRESIDENT : The assessee is in appeal before the Tribunal against the order of learned Commissioner of Income-tax (Appeals)-13, Ahmedabad [“CIT(A) in short] dated 15.01.2019 passed for Assessment Year 2010-11. 2. In response to the notice of hearing, no one has come present on behalf of the assessee. Therefore, with the assistance of learned Departmental Representative, we have gone through the record carefully and proceed to dispose of the appeal ex-parte qua the assessee. 3. On our direction, the learned Departmental Representative has filed a copy of reasons recorded for re-opening of the assessment. A perusal of the record would indicate that the assessee has not filed the return of income for Assessment Year 2010-11. The assessment was re-opened by issuance of ITA No. 639/Ahd/2019 Falguni Jagdish Raval Vs. ITO AY : 2010-11 2 notice under Section 148 of the Income-tax Act, 1961 (“the Act” in short) on 29.03.2017. In response to that, the assessee has filed the return on 01.09.2017 and declared an income of Rs.1,92,898/-. A perusal of the reasons placed before us would indicate that the reasons were recorded on the basis of AIR information exhibiting the fact that the assessee had made several transactions in shares and securities to the tune of Rs.99,94,328 and accordingly this income has escaped assessment. However, the Assessing Officer, while passing the assessment order under Section 143(3) r.w.s. 147 of the Act, did not make any addition with regard to share transactions; rather he has made an addition of Rs.6,14,111/-, which was deposited in cash in IDBI bank account. The reasons recorded by the Assessing Officer are available in a Performa which contains “Sr. No.”, “Points” and “Particulars”. At Sr. No. 06, the narrations are “the quantum of income/wealth which has escaped assessment – Rs.99,94,328/-“. Thus, according to the reasons, this was the escaped income; however, no addition of this income has been made. Recently, the Hon’ble jurisdictional High Court in the case of CIT Vs. Mohmed Juned Dadani, [2013] 355 ITR 172 (Guj), Hon’ble Delhi High Court in the case of Ranbaxy Laboratories Ltd Vs CIT, 336 ITR 136 (Del HC) and also Hon’ble Bombay High Court in the case of CIT Vs. Jet Airways (I) Ltd., 331 ITR 236 (Bom) have held that if no additions are being made on an issue for which an assessment was re-opened, then any other escaped income came to the notice of the Assessing Officer during the re- assessment proceedings cannot be added. In the present case, learned Assessing Officer has not made any addition to the issue on which the assessment was re-opened. Therefore, he cannot make addition on account of unexplained cash credit deposited in IDBI Bank. Accordingly, the appeal of the assessee is allowed and addition of Rs.6,14,111/- made by the Assessing Officer and confirmed by the learned CIT(A) is deleted. ITA No. 639/Ahd/2019 Falguni Jagdish Raval Vs. ITO AY : 2010-11 3 4. In the result, the appeal of the assessee is allowed. Order pronounced in the Court on 1 st December 2021 at Ahmedabad. Sd/- Sd/- (WASEEM AHMED) (RAJPAL YADAV) ACCOUNTANT MEMBER VICE-PRESIDENT Ahmedabad, Dated 01/12/2021 *Bt आदेश क琉 灹ितिलिप अ灡ेिषत/Copy of the Order forwarded to : 1. अपीलाथ牸 / The Appellant 2. 灹瀄यथ牸 / The Respondent. 3. संबंिधत आयकर आयु猴 / Concerned CIT 4. आयकर आयु猴)अपील (/ The CIT(A)- 5. िवभागीय ि ि ि ,आयकर अपीलीय अि करण /DR,ITAT, Ahmedabad, 6. गाड榁 फाईल /Guard file. आदेशानुसार/ BY ORDER, TRUE COPY सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण ITAT, Ahmedabad 1. Date of dictation- ...25.11.2021...... 2. Date on which the typed draft is placed before the Dictating Member ...01.12.2021............ Other member ...01.12.2021.................. 3. Date on which the approved draft comes to the Sr.P.S./P.S. - ...01.12.2021............... 4. Date on which the fair order is placed before the Dictating Member for Pronouncement ...01.12.2021 5. Date on which the file goes to the Bench Clerk...02.12.2021................ 6. Date on which the file goes to the Head Clerk.................................. 7. The date on which the file goes to the Assistant Registrar for signature on the order..................... 8. Date of Despatch of the Order..................