Daljeet Singh Sood, Gurgaon V. ITO, New Delhi

ITA 6435/DEL/2014

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 4758 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 9 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-09-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 25-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : B : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO.6435/DEL/2014 ASSESSMENT YEAR : 2008-09 DALJEET SINGH SOOD, A-48/39A, DLF PHASE I, GURGAON. PAN: AAKPS0447D VS. ITO, WARD-3(1), NEW DELHI. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI RAKESH KUMAR KHIWANI, CA DEPARTMENT BY : SHRI ANSHU PRAKASH, SR. DR DATE OF HEARING : 12.09.2017 DATE OF PRONOUNCEMENT : 13.09.2017 ORDER PER R.S. SYAL, VP: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER PASSED BY THE CIT(A) ON 01.10.2014 IN RELATION TO T HE ASSESSMENT YEAR 2008-09. ITA NO.6435/DEL/2014 2 2. THE ONLY ISSUE RAISED IN THIS APPEAL IS AGAINST THE CONFIRMATION OF ADDITION OF RS.2 LAC MADE BY THE ASSESSING OFFICER U/S 68 OF THE ACT. 3. BRIEFLY STATED, THE FACTS OF THIS ISSUE ARE THAT A SUM OF RS.2 LAC WAS FOUND DEPOSITED IN THE STATE BANK OF MYSORE ON 17.0 8.2007. THE ASSESSING OFFICER REQUIRED THE ASSESSEE TO FURNISH SOURCE AND NATURE OF SUCH DEPOSIT. IN THE ABSENCE OF THE ASSESSEE FURNIS HING ANY EXPLANATION WHATSOEVER, THE ASSESSING OFFICER MADE ADDITION FOR THE SUM OF RS.2 LAC U/S 68 OF THE ACT. THE LD. CIT(A) UPHELD THE ADDIT ION. 4. AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERU SING THE RELEVANT MATERIAL ON RECORD, IT IS OBSERVED THAT THE ASSESSE E STATED BEFORE THE LD. CIT(A) THAT NO AMOUNT WAS CASH DEPOSITED IN THE BAN K, BUT, IT WAS A CASE OF TRANSFER BY CHEQUE. THE CHEQUE WAS ISSUED BY M/ S CLIMAX OVERSEAS PVT. LTD., WHERE THE ASSESSEE WAS A DIRECTOR. IT W AS ALSO SUBMITTED THAT THE CHEQUE WAS REFLECTED IN THE BANK STATEMENT OF T HE COMPANY AND THERE WAS A WRONG DEBIT ENTRY MADE IN THE ACCOUNTS. NOT CONVINCED, THE LD. CIT(A) ECHOED THE ASSESSMENT ORDER ON THIS SCORE. ITA NO.6435/DEL/2014 3 5. AFTER GOING THROUGH THE RELEVANT MATERIAL PLACED BEFORE US IN THE SHAPE OF ACCOUNT OF SHRI D.S SOOD IN THE BOOKS OF C LIMAX OVERSEAS PVT. LTD. AND OTHER BANK ACCOUNTS, WE ARE SATISFIED THAT THE EXPLANATION TENDERED BY THE ASSESSEE HAS NOT BEEN PROPERLY CONS IDERED BY THE AUTHORITIES BELOW. IN OUR CONSIDERED OPINION, THE E NDS OF JUSTICE WOULD MEET ADEQUATELY IF THE IMPUGNED ORDER ON THIS ISSUE IS SET ASIDE THE MATTER IS RESTORED TO THE FILE OF ASSESSING OFFICER FOR DECIDING IT AFRESH. WE ORDER ACCORDINGLY. NEEDLESS TO SAY, THE ASSESSE E WILL BE PROVIDED AN OPPORTUNITY OF BEING HEARD IN SUCH FRESH PROCEEDING S. 6. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. THE ORDER PRONOUNCED IN THE OPEN COURT ON 13.09.201 7. SD/- SD/- [SUCHITRA KAMBLE] [R.S. SYAL] JUDICIAL MEMBER VICE PRESIDENT DATED, 13 TH SEPTEMBER, 2017. DK ITA NO.6435/DEL/2014 4 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.