Kiran Kumar Metapally, Hyderabad V. Income Tax Officer, Ward-9(3), Hyderabad

ITA 658/Hyd/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 8183 (ITAT-HYDERABAD)
• Duration Of Justice: 8 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-01-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Next Hearing Date: 02-12-2019
• Assessment Year: 2015-2016
• Appeal Filed On: 02-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Additional evidence; Set aside
• Section: 22; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD SMC BENCH, HYDERABAD BEFORE SHRI V. DURGA RAO , HONBLE JUDICIAL MEMBER ITA NO. 658 / HYD /201 9 (ASST. YEAR : 20 15 - 16 ) KIRAN KUMAR METAPALLY , C/O T. CHAITANYA KUMAR, ADVOCATE , FLAT NO. 102, GOWRI APARTMENTS, URDU LANE, HIMAYATHNAGAR, HYDERABAD. V S . IT O , WARD - 9 ( 3 ) 0 , HYDERABAD . PAN NO. AKEPM 4448 E (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI T . CHAITANYA KUMAR , A DV. DEPARTMENT BY : SHRI SUNKU SRINIVAS , SR. DR DATE OF HEARING : 02 / 12 /201 9 . DATE OF PRONOUNCEMENT : 22 / 0 1 /20 20 . O R D E R TH IS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) - 8 , HYDERABAD , DATED 05 /0 3 /201 9 FOR THE ASSESSMENT YEAR 20 15 - 16 . 2. THE ONLY ISSUE INVOLVED IN THIS APPEAL RELATES TO ADDITION OF RS. 4,50,000/ - RECEIVED BY THE ASSESSEE FROM SMT. T. LAXMI . THE ASSESSING OFFICER HAS MADE THE ADDITION ON THE GROUND THAT THE ASSESSEE FAILED TO PROVE THE CREDITW ORTHINESS OF THE LOAN CREDITOR SMT. T. LAXMI. 2 ITA NO. 658 / HYD /2019 ( KIRAN KUMAR METPALLY ) 3 . ON APPEAL, LD. CIT(A) CONFIRMED THE ORDER OF THE ASSESSING OFFICER ON THE GROUND TH A T THE ASSESSEE HAS FAILED TO SUBSTANTIATE THE CREDITWORTHINESS OF THE LOAN CREDITOR. 4 . ON BEING AGGRIEVED , ASSESSEE IS IN APPEAL BEFORE THIS TRIBUNAL. 5. THE CASE OF THE ASSESSEE IS THAT HE HAS RECEIVED AN AMOUNT OF RS. 4.50 LAKHS FROM SMT. T. LAXMI THROUGH BANKING CHANNEL, COPIES OF THE BANK STATEMENTS WHICH WERE NOT FILED BEFORE THE LOWER AUTHORITI ES MAY BE PERMITTED TO FILE BEFORE THIS TRIBUNAL AND F OR THAT PURPOSE HE FILED A PETITION FOR ADMISSION OF ADDITIONAL EVIDENCE . 6 . I HAVE CONSIDERED THE ENTIRE FACTS AND CIRCUMSTANCES OF THE CASE AND FIND THAT ASSESSEE HAS RECEIVED AN AMOUNT OF RS. 4.50 LAKHS FROM SMT. T. LAXMI THROUGH BANKING CHANNEL, HOWEVER, ASSESSING OFFICER AS WELL AS LD. CIT(A) NOT ACCEPTED THE EXPLANATION OF THE ASSESSEE ON THE GROUND TH A T ASSESSEE HAS FAILED TO PROVE THE CREDITWORTHINESS OF THE CREDITOR AND GENUINENESS OF THE TRANSACTION. IN VIEW OF THE ABOVE CIRCUMSTANCES, I FIND THAT ONE MORE OPPORTUNITY SHOULD BE GIVEN TO THE ASSESSEE TO SUBSTANTIATE HIS CASE BEFORE THE ASSESSING OFFI CER BY FILING THE RELEVANT DETAILS. ACCORDINGLY, I SET ASIDE THE ORDER PASSED BY THE LD. CIT(A) AND REM I T THE MATTER BACK TO THE FILE OF THE ASSESSING 3 ITA NO. 658 / HYD /2019 ( KIRAN KUMAR METPALLY ) OFFICER DIRECT ING HIM TO EXAMINE THE DETAILS IN RESPECT OF AMOUNT BORROWED BY THE ASSESSEE FROM SMT. T. LAXMI AND PASS NECESSARY ORDER S DENOVO IN ACCORDANCE WITH LAW. I ALSO DIRECT THE ASSESSEE TO PRODUCE THE RELEVANT DETAILS BEFORE THE ASSESSING OFFICER ON THE DATE IS GIVEN FOR HEARING WITHOUT FAIL. THUS, THIS APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. 7 . IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATIS TI CAL PURPOSE. ORDER PRONOUNCED ON TH IS 2 2 N D DAY OF JAN. , 20 20 . S D / - ( V. DURGA RAO ) JUDICIAL MEMBER DATED : 2 2 N D JANUARY , 20 20 . VR/ - COPY TO: 1. THE ASSESSEE - KIRAN KUMAR METAPALLY, C/O T. CHAITANYA KUMAR, ADVOCATE, FLAT NO. 102, GOWRI APARTMENTS, URDU LANE, HIMAYATHNAGAR, HYDERABAD. 2. THE REVENUE - ITO, WARD - 9(3), HYDERABAD. 3. THE PR. CIT - 7, HYDERABAD. 4. THE CIT(A - 8, HYDERABAD. 5. THE D.R . , HYDERABAD. 6. GUARD FILE. BY ORDER SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.