ACIT, New Delhi V. Vinod Kumar Garg, New Delhi

ITA 6433/DEL/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6321 (ITAT-DELHI)
• Duration Of Justice: 3 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 04-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P D KANUNJNA
• Keywords: Gift; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: E NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SH.O.P.KANT, ACCOUNTANT MEMBER I.T.A .NO.-6433/DE L/2015 (ASSESSMENT YEAR-2010- 11) ACIT, CIRCLE-50(1), ROOM NO.-1505, 15 TH FLOOR, E-2 BLOCK, DR.S.P.M CIVIC CENTRE, J.L.N.MARG, NEW DELHI-110002. (APPELLANT) VS VINOD KUMAR GARG, D-128, UPPER GROUND FLOOR, OLD RAJINDER NAGAR, NEW DELHI-110060. PAN-AANPG6519R (RESPONDENT) APPELLANT BY SH.P.D.KANUNJNA, SR. DR RESPONDENT BY NONE ORDER PER DIVA SINGH, JM THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE AS SAILING THE CORRECTNESS OF THE ORDER DATED 23.04.2013 OF CIT(A)-17, NEW DEL HI PERTAINING TO 2010 11 ASSESSMENT YEAR ON THE FOLLOWING GROUNDS: 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD .CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.8,00,000/- ON ACCOUNT O F GIFT RECEIVED FROM THE APPELLANT FROM HIS RELATIVE. 2. ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) HAS ERRED IN DELETING THE AMOUNT OF RS.11,90,000/- ON ACCOUNT OF UNEXPLAINED CASH DEPOSITS TO THE EXTENT OF 40% OF TOTAL CASH WITHDRA WALS. 2. NO ONE WAS PRESENT AT THE TIME OF HEARING ON BEH ALF OF THE ASSESSEE. CONSIDERING THE AMOUNT AT STAKE FOR THE REVENUE, TH E LD.SR.DR WAS REQUIRED TO ADDRESS CIRCULAR NO.21/2015 DATED 10TH DECEMBER, 20 15 OF CBDT. CONSIDERING THE SAME IN THE FACTS ON RECORD, THE LD. SR. DR FAI RLY CONCEDED THAT THE DEPARTMENTAL APPEAL HAS BEEN FILED WHEREIN THE TAX EFFECT INVOLVED IS MUCH LESS THAN RS.10 LAKH. DATE OF HEARING 10.03.2016 DATE OF PRONOUNCEMENT 22.03.2016 I.T.A .NO.-6433/DEL/2015 PAGE 2 OF 2 3. WE HAVE HEARD THE SUBMISSIONS OF THE LD. SR. DR ON THIS ISSUE AND PERUSED THE MATERIAL ON RECORD. WE FIND THAT THE CBDT VIDE THE AFORESAID CIRCULAR DATED 10.12.2015 HAS REVISED THE MONETARY LIMIT TO RS.10 LAKH FOR FILING THE APPEAL BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL . PARA 3 OF THE AFORESAID CIRCULAR HAS BEEN MADE APPLICABLE VIDE PARA 10 RETR OSPECTIVELY. CONSIDERING THE SETTLED LEGAL PRECEDENT THAT THE BOARDS INSTRUCTIO NS OR DIRECTIONS ISSUED TO THE INCOME TAX AUTHORITIES U/S 268A OF THE INCOME TAX A CT, 1961 ARE BINDING ON THE AUTHORITIES, WE DISMISS THE DEPARTMENTAL APPEAL CON SIDERING THE MATERIAL AVAILABLE ON RECORD. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 22 ND MARCH, 2016. SD/- SD/- (O.P.KANT) (DIVA SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 22/03/2016 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSIS TANT REGISTRAR ITAT NEW DELHI