AO, ACIT,Circle-40, Kolkata, Kolkata V. Subhojit Ghosh, Kolkata

ITA 68/KOL/2017

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 8953 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 11 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-12-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 13-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C J SINGH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH (A), KOLKATA [BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT & SHRI S.S. VISWANETHRA RAVI, JM] I.T.A. NO.68/KOL/2016 ASSESSMENT YEAR: 2013-14 ACIT CIRCLE 40 KOLKATA.......................................................................APPELLANT 3, GOVT. PLACE (W), 2 ND FLOOR, KOLKATA 700 001. [PAN: AFVPG 4172 K] SUBHOJIT GHOSH.............................................RESPONDENT 11, GOVT. PLACE (EAST), 2 ND FLOOR, KOLKATA 700 069. APPEARANCES BY: SHRI C.J. SINGH, SR. DR APPEARING ON BEHALF OF THE REVENUE. NONE APPEARING ON BEHALF OF THE ASSESSEE. DATE OF CONCLUDING THE HEARING : DECEMBER 20, 2018 DATE OF PRONOUNCING THE ORDER : DECEMBER 20, 2018 ORDER PER P.M. JAGTAP, VICE PRESIDENT THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. CIT(A) 12, KOLKATA DATED 20.10.2016 ON THE FOLLOWING GROUNDS: 1. IN THE INSTANT CASE CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FACTS AS WELL AS CIRCUMSTANCES BY DIRECTING TO ALLOW STANDARD DEDUCTION U/S 24(A) OF ADDITION OF RS. 1,50,000/- AS RENT, BECAUSE THE ASSESSEE DID NOT DISCLOSE THIS INCOME IN HIS RETURN. 2. LD. CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FAILED TO APPRECIATE THE AOS VIEW IN DELETING THE ADDITION OF RS. 2,66,220/- AS UNDISCLOSED RECEIPT ON SALE OF SHARES / MF WHICH WAS NOT DISCLOSED IN ANY DOCUMENT I.E. RETURN OF INCOME. 3. LD. CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FACTS BY DELETING THE ADDITION OF RS. 1,80,188/- AS UNDISCLOSED INTEREST INCOME OF THE ASSESSEES OWN FUNDS WHICH WAS DULY CONFESSED BY THE ASSESSEE DURING THE ASSESSMENT PROCEEDINGS. 4. LD. CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FACTS AS WELL AS CIRCUMSTANCES BY DELETING THE ADDITION OF RS. 19,58,080/- AS UNEXPLAINED RECEIPT CLAIMED AS DRAWING FROM JOINT INVESTMENT AS THE ASSESSEE FAILED TO SUBSTANTIATE THE DRAWING FROM JOINT VENTURE. 2 I.T.A. NO. 68/KOL/2017 ASSESSMENT YEAR: 2013-14 SUBHOJIT GHOSH 5. LD. CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FACTS BY DELETING THE ADDITION OF RS. 1,80,189/- AS UNDISCLOSED INTEREST INCOME OF THE ASSESSEE AS THE UNEXPLAINED RECEIPT CLAIMED AS DRAWING FROM JOINT VENTURE. 6. LD. CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FACTS BY DELETING THE ADDITION OF RS. 2,71,191/- UNDER THE HEAD OF UNEXPLAINED RECEIPT FROM TATA MOTORS AS THERE WAS NO SALE OF SHARES OF TATA MOTORS AND OR INVESTMENT IN JOINT VENTURE. 7. LD. CIT(A) 12, KOLKATA HAS ERRED IN LAW AND FACTS BY DELETING THE ADDITION OF RS. 5,30,474/- UNDER RECEIPT FROM DIFFERENT HEADS AS THE ASSESSEE HAS NOT SUBSTANTIATE THE SAME WITH SUPPORTING DOCUMENTS. 2. AT THE TIME OF HEARING FIXED IN THIS CASE TODAY, NONE APPEARED ON BEHALF OF THE RESPONDENT ASSESSEE. AS POINTED OUT BY THE LEARNED DR, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE ASSESSEE HOWEVER IS LESS THAN MONETARY LIMIT OF RS. 20 LACS FIXED BY THE CBDT VIDE CIRCULAR NO. 3/2018 DATED 11.07.2018 FOR FILING THE APPEAL OF THE REVENUE BEFORE THE TRIBUNAL. AS CLARIFIED IN THE SAID CIRCULAR, THE REVISED MONETARY LIMIT OF RS. 20 LACS FOR FILING THE APPEAL BEFORE THE TRIBUNAL IS APPLICABLE EVEN TO THE PENDING APPEALS AND SUCH APPEALS MAY BE TREATED AS NOT PRESSED / WITHDRAWN. WE ACCORDINGLY DISMISSED THIS APPEAL OF THE REVENUE BY TREATING THE SAME AS NOT PRESSED / WITHDRAWN. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH DECEMBER, 2018. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER VICE PRESIDENT DATED: 20/12/2018 BISWAJIT, SR. PS 3 I.T.A. NO. 68/KOL/2017 ASSESSMENT YEAR: 2013-14 SUBHOJIT GHOSH COPY OF ORDER FORWARDED TO: 1. SUBHOJIT GHOSH, 11, GOVT. PLACE (EAST), 2 ND FLOOR, KOLKATA 700 069. 2. ACIT, CIRCLE 40, 2 ND FLOOR, 3, GOVT. PLACE (W), KOLKATA 700 069. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, ASSISTANT REGISTRAR / H.O.O. ITAT, KOLKATA