Miss SHWETA KUMAR GHOTA, Neemuch V. THE ITO, Neemuch

ITA 641/IND/2014

• Counselvise Citation: 64122714 RSA 2014
• Duration Of Justice: 1 year(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 16-10-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Assessee Lawyers: S S MUNDRA
• Keywords: Accommodation entries
• Section: 147; 148

Judgement Text

SHWETA KUMARI GHOTA ITA NO. 641/IND/2014 1 IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, INDORE SHRI B.C. MEENA, HONBLE ACCOUNTANT MEMBER ITA NO. 641/IND/2014 A.Y.2006-07 MISS SHWETA KUMARI NEEMUCH PAN AIMPG 4117A ::: APPELLANT VS INCOME TAX OFFICER NEEMUCH ::: RESPONDENT APPELLANT BY SHRI S.S. MUNDRA RESPONDENT BY SHRI R.A. VERMA DATE OF HEARING 15.10.2015 DATE OF PRONOUNCEMENT 2 1 .10.2015 O R D E R PER SHRI B.C. MEENA, AM THIS APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF THE LEARNED CIT(A), UJJAIN, DATED 12.8.20 14. 2. THE RETURN OF INCOME WAS FILED BY THE ASSESSEE ON 28.7.2006 DECLARING INCOME AT RS.1,06,730/-. THE SHWETA KUMARI GHOTA ITA NO. 641/IND/2014 2 ASSESSMENT WAS REOPENED BY ISSUING NOTICE U/S 148 OF THE ACT ON 26.3.2009. THE ASSESSEE WAS SUPPLIED COPY OF REASONS RECORDED U/S 147 PRIOR TO ISSUING NOTICE U/S 148 OF THE ACT. THE OBJECTIONS RAISED BY THE ASSESSEE WERE CONSIDERED BY THE ASSESSING OFFICER AND DISMISSED. O NE OF THE GROUNDS OF THE ASSESSEES APPEAL IS AGAINST SUSTAININ G THE INITIATION OF PROCEEDINGS U/S 148 OF THE ACT. 3. I HAVE HEARD BOTH THE SIDES ON THIS ISSUE AND AFTER HEARING I HOLD THAT THERE WAS SUFFICIENT MATERIAL WITH T HE ASSESSING OFFICER IN THE FORM OF INFORMATION FROM TH E INVESTIGATION WING ON WHICH THE ASSESSING OFFICER CAN FORM REASONABLE BELIEF THAT THE INCOME HAS ESCAPED ASSESSMENT. THEREFORE, THIS GROUD OF THE ASSESSEE HAS NO MERIT. T HE SAME IS DISMISSED. 4. ANOTHER ISSUE IN THE APPEAL IS SUSTAINING THE ADDITI ON WITHOUT CONSIDERING THE SUBMISSIONS OF THE ASSESSEE BY THE LEARNED CIT(A). SHWETA KUMARI GHOTA ITA NO. 641/IND/2014 3 5. I HAVE HEARD BOTH THE SIDES. ONE OF THE REASONS FOR SUSTAINING THE ADDITION IS THAT THE DIRECTOR OF INVEST IGATION CONDUCTED SURVEY IN THE CASE OF M/S MAHASAGAR SECURITIE S PVT. LTD. OF WHICH SHRI MUKESH M. CHOKSI WAS A DIRECT OR AND HE HAS ACCEPTED THAT HE WAS PROVIDING ACCOMMODATION ENTRIES OF LONG TERM CAPITAL GAINS. SINCE THE LEARNED CIT(A) HAS CONFIRMED THE ADDITION ON THE BASIS OF STATEMENTS RECORDED BY SHRI MUKESH CHOKSI, THEREFORE, IN MY OP INION, THE ASSESSEE SHOULD HAVE BEEN PROVIDED AN OPPORTUNITY TO CROSS-EXAMINE SHRI MUKESH CHOKSI WITH REGARD TO THE STATEMENT MADE BY HIM IN THE ABSENCE OF THE ASSESSEE. THEREFORE, THIS ISSUE IS RESTORED TO THE FILE OF TH E ASSESSING OFFICER TO BE DECIDED AFTER PROVIDING REASONABLE OPPO RTUNITY TO CROSS-EXAMINE MUKESH CHOKSI WITH REGARD TO THE STATEMENT GIVEN. THE ASSESSEE SHOULD BE PROVIDED WIT H A COPY OF STATEMENT WHICH IS BEING USED AGAINST THE ASSE SSEE FOR MAKING THE ADDITION. SHWETA KUMARI GHOTA ITA NO. 641/IND/2014 4 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN OPEN COURT ON 21 ST OCTOBER, 2015 SD/- (B.C. MEENA) ACCOUNTANT MEMBER 21 ST OCTOBER, 2015 DN/-