Ms. Sunita Sharma, New Delhi V. ITO, New Delhi

ITA 6749/DEL/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 97211 (ITAT-DELHI)
• Duration Of Justice: 8 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-09-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC 1
• Next Hearing Date: 13-08-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 12-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GARIMA JAIN SENIOR
• Assessee Lawyers: VED JAIN; ASHISH GOEL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH SMC SMC SMC SMC- -- -1 11 1 : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI G.C. GUPTA BEFORE SHRI G.C. GUPTA BEFORE SHRI G.C. GUPTA BEFORE SHRI G.C. GUPTA, VICE , VICE , VICE , VICE PRESIDENT PRESIDENT PRESIDENT PRESIDENT ITA NO ITA NO ITA NO ITA NO . .. . 6749/DEL/2014 6749/DEL/2014 6749/DEL/2014 6749/DEL/2014 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 2009 2009 2009 2009 - -- - 10 1010 10 SMT. SUNITA SHARMA, SMT. SUNITA SHARMA, SMT. SUNITA SHARMA, SMT. SUNITA SHARMA, 4/6, DESH BANDHU GUPTA 4/6, DESH BANDHU GUPTA 4/6, DESH BANDHU GUPTA 4/6, DESH BANDHU GUPTA ROAD, PAHAR GANJ, ROAD, PAHAR GANJ, ROAD, PAHAR GANJ, ROAD, PAHAR GANJ, DELHI DELHI DELHI DELHI 110 055. 110 055. 110 055. 110 055. PAN : BQZPS1585 PAN : BQZPS1585 PAN : BQZPS1585 PAN : BQZPS1585G. G.G. G. VS. VS. VS. VS. INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -39(4), 39(4), 39(4), 39(4), NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI VED JAIN AND SHRI ASHISH GOEL, ADVOCATE. RESPONDENT BY : MS. GARIMA JAIN, SENIOR DR. DATE OF HEARING : 13.08.2015 13.08.2015 13.08.2015 13.08.2015 DATE OF PRONOUNCEMENT : 08.09.2015 08.09.2015 08.09.2015 08.09.2015 ORDER ORDER ORDER ORDER THIS APPEAL BY THE ASSESSEE FOR THE ASSESSMENT YEA R 2009-10 IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-XXVIII , NEW DELHI DATED 29 TH AUGUST, 2014. 2. THE EFFECTIVE GROUND OF APPEAL OF THE ASSESSEE R EADS AS UNDER:- 4 (I) ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A) HAS ERRED BOTH ON FACTS AND IN LAW I N CONFIRMING THE ADDITION OF RS.5,20,000/- MADE BY AO ON ACCOUNT OF CASH DEPOSITS IN BANK. (II) THAT THE ADDITION HAS BEEN CONFIRMED BY ARBITR ARILY REJECTING THE EXPLANATION AND EVIDENCES BROUGHT ON RECORD BY THE ASSESSEE. 3. LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE HAS FILED STATEMENT OF AFFAIRS BEFORE THE ASSESSING OFFICER AND THE LEARNED CIT(A) WHICH COVERS THE DEPOSITS OF THE ASS ESSEE WITH SUSHILA SHARMA, S.N. SHARMA AND SHREE RAM TRADING CO. HE S UBMITTED THAT ITA-6749/DEL/2014 2 THE ASSESSEE IS AN OLD INCOME TAX ASSESSEE WITH THE DEPARTMENT WITH OPENING CAPITAL AND OPENING STOCK ALSO. HE REFERRE D TO THE COPY OF THE RELEVANT DOCUMENTS INCLUDING THE BANK ACCOUNT OF TH E ASSESSEE AND ALSO THE STATEMENT OF AFFAIRS AND STATEMENT OF ACCO UNTS FOR THE PERIOD ENDING 31.03.2009 FILED IN THE COMPILATION BEFORE T HE TRIBUNAL. 4. LEARNED DR SUBMITTED THAT THE ASSESSEE COULD NOT PROVE THE SOURCE OF CASH DEPOSIT MADE BY THE ASSESSEE WITH TH E AFORESAID THREE PARTIES. SHE RELIED ON THE ORDER OF THE ASSESSING OFFICER AND THE LEARNED CIT(A). 5. I HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE PERUSED THE ORDER OF THE AO AND THE LEARNED CIT(A). I FIND THA T IN THE STATEMENT OF AFFAIRS OF THE ASSESSEE FOR THE RELEVANT PERIOD, TH E DEPOSITS WITH THE THREE DEBTOR PARTIES WERE CLEARLY COVERED UNDER THE HEAD LOANS AND ADVANCES. THE SOURCE OF CASH DEPOSIT WAS ALSO COV ERED WITH THE DRAWINGS OF `5,35,878/- DEBITED TO THE PERSONAL CAP ITAL ACCOUNT OF THE ASSESSEE AS SHOWN IN THE COPY OF THE BALANCE SHEET OF THE ASSESSEE FILED WITH THE DEPARTMENT. THE ASSESSEE BEING OLD INCOME TAX ASSESSEE WITH OPENING STOCK AS WELL AS OPENING CAPI TAL, I FIND NO BASIS TO SUSTAIN THE ADDITION MADE BY THE DEPARTMENT ON A CCOUNT OF DEPOSITS OF THE ASSESSEE WITH THE ABOVE MENTIONED THREE PART IES. ACCORDINGLY, THE ADDITION IS DELETED AND THE GROUND OF APPEAL NO .4 OF THE ASSESSEE IS ALLOWED. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. DECISION PRONOUNCED IN THE OPEN COURT ON 8 TH SEPTEMBER, 2015. SD/- (G. (G. (G. (G. C. GUPTA C. GUPTA C. GUPTA C. GUPTA ) )) ) VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VK. ITA-6749/DEL/2014 3 COPY FORWARDED TO: - 1. APPELLANT : SMT. SUNITA SHARMA, SMT. SUNITA SHARMA, SMT. SUNITA SHARMA, SMT. SUNITA SHARMA, 4/6, DESH BANDHU GUPTA ROAD, PAHAR G 4/6, DESH BANDHU GUPTA ROAD, PAHAR G 4/6, DESH BANDHU GUPTA ROAD, PAHAR G 4/6, DESH BANDHU GUPTA ROAD, PAHAR GANJ, ANJ, ANJ, ANJ, DELHI DELHI DELHI DELHI 110 055. 110 055. 110 055. 110 055. 2. RESPONDENT : INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -39(4), NEW DELHI. 39(4), NEW DELHI. 39(4), NEW DELHI. 39(4), NEW DELHI. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR