Shri Ashok Keshavrao Thube, Nashik V. Income Tax Officer, Ward-2(4), Nashik, Nashik

ITA 643/PUN/2023

AI Insights

The case involves Mr. Ashik Keshavrao Thube, who appealed against the order of the National Faceless Appeal Centre (NFAC) confirming the assessment made by the Income Tax Officer (ITO), Ward-2(4), Nashik. The ITO had issued a notice under section 148 of the Income Tax Act, 1961, after discovering a cash deposit of Rs.37,55,630 in the appellant's bank account. The appellant filed a return disclosing an income significantly lower than the assessed income, which included the unexplained cash deposit. The NFAC upheld the ITO's decision, leading to the current appeal. The appellant provided additional evidence during the tribunal hearing, which the tribunal found sufficient to warrant a re-examination of the case by the ITO.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 137648 (ITAT-PUNE)
• Duration Of Justice: 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-08-2023
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: SMC
• Next Hearing Date: 02-08-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 24-05-2023
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Business income; Additional evidence
• Section: 147; 148; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.643/PUN/2023 िनधाᭅरण वषᭅ / Assessment Year : 2012-13 Mr. Ashik Keshavrao Thube, 931, Karanjkar Galli, Bhagur Deolali Camp, Nashik- 422401. PAN : AFTPT0158A Vs. ITO, Ward-2(4), Nashik. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the National Faceless Appeal Centre, Delhi [‘NFAC’] dated 14.03.2023 for the assessment year 2012-13. 2. Briefly, the facts of the case are that the appellant is an individual. No regular Return of Income for the assessment year 2012-13 was filed by the assessee. However, the Assessing Officer Assessee by : Shri Pramod S. Shingte Revenue by : Shri A. K. Mahala Date of hearing : 03.08.2023 Date of pronouncement : 07.08.2023 ITA No.643/PUN/2023 2 on receipt of the information that the appellant had deposited a cash of Rs.37,55,630/- in the bank account with Dena Bank, Deolali Camp, Nashik, issued a notice u/s 148 of the Income Tax Act, 1961 (‘the Act’) on 30.03.2019. In response to the notice u/s 148, the appellant had filed the return of income on 13.11.2019 disclosing returned income of Rs.3,35,124/-. Against the said return of income, the assessment was completed by the Income Tax Officer, Ward-2(4), Nashik (‘the Assessing Officer’) vide order dated 26.12.2019 passed u/s 147 r.w.s. 143(3) of the Act at a total income of Rs.40,90,754/-. While doing so, the Assessing Officer made addition on account of cash deposits in the bank account of Rs.37,55,630/- rejecting the explanation of the assessee that the cash deposits were made out of the business receipt from the business of sale of stone metal and truck plying. The Assessing Officer had disbelieved that the appellant was carrying on the business of sale of stone metal and truck plying. According to the Assessing Officer, the appellant had failed to prove that the appellant was carrying on the above businesses by leading necessary evidence. ITA No.643/PUN/2023 3 Even before the NFAC, the NFAC had confirmed the findings of the Assessing Officer doubting the claim of the assessee that the assessee had carrying on business of sale of stone metal and truck plying. 3. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal. 4. The ld. AR filed the copies of the returns of income for the preceding years as well as succeeding years, copy of the certificate from Gramvikas Adhikari, certificate from the Maharashtra Pollution Control Board, receipts for payment of Maharashtra Government as fees for stone metal etc in support of the contention that the appellant was carrying on the said business. He submits that this information could not be filed earlier for want of sufficient time before the lower authorities. He also filed copies of the bank passbook, cash book etc showing the availability of the cash on the date of cash deposits were made in the bank. Thus, he submits that in view of the additional evidence filed, the same may be remitted to the file of the Assessing Officer for de novo consideration. On ITA No.643/PUN/2023 4 the other hand, ld. CIT-DR has no serious objection to remand the matter to the file of the Assessing Officer. I order accordingly. 5. In the result, the appeal filed by the assessee stands partly allowed. Order pronounced on this 07 th day of August, 2023. Sd/- Sd/- (S. S. VISWANETHRA RAVI) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 07 th August, 2023. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The Pr. CIT concerned. 4. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “SMC” बᱶच, पुणे / DR, ITAT, “SMC” Bench, Pune. 5. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.