SHRI RAHUL KUMAR AGRAWAL, Burhanpur V. THE ITO, Khandwa

ITA 698/IND/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 5691 (ITAT-INDORE)
• Duration Of Justice: 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 20-06-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 08-10-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MOHD JAVED
• Assessee Lawyers: S S DESHPANDE
• Section: 69

Judgement Text

ANMOL TIWARI ITA NO. 613/IND/2015 1 IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, INDORE BEFORE SHRI D.T. GARASIA, HONBLE JUDICIAL MEMBER ITA NO. 698/IND/2015 A.Y.2010-11 RAHUL KUMAR AGRAWAL BURHANPUR PAN AHHPA 4707A ::: APPELLANT VS INCOME TAX OFFICER KHANDWA ::: RESPONDENT APPELLANT BY SHRI S.S. DESHPANDE RESPONDENT BY SHRI MOHD. JAVED DATE OF HEARING 20.6.2016 DATE OF PRONOUNCEMENT 2 5 . 7 .2016 O R D E R THIS IS AN APPEAL PREFERRED BY THE ASSESSEE AGAINST THE ORDER DATED 31.7.2015 OF THE LEARNED CIT(A )-II, INDORE. ANMOL TIWARI ITA NO. 613/IND/2015 2 2. THE ONLY GROUND TAKEN BY THE ASSESSEE IN THIS APPEAL RELATES TO CONFIRMATION BY THE LEARNED CIT(A) OF THE P ENALTY OF RS. 1,22,400/- U/S 271(1)(C) OF THE ACT ON THE G ROUND THAT THE ASSESSEE HAS FURNISHED INACCURATE PARTICULARS. 3. BRIEF FACTS ARE THAT THE ASSESSING OFFICER WHILE EXAMINING THE BOOKS OF ACCOUNTS OF M/S NARINDER INDUSTRIES FOUND THAT THE ASSESSEE HAD WITHDRAWN AN AMOUNT OF RS. 1,58,500/- FOR PURCHASING POUNDS IN CONNECTION WITH HIS FOREIGN VISITS. THE ASSESSING O FFICER REQUIRED TO PRODUCE DETAILS THEREOF WHICH THE ASSESSE E COULD NOT PRODUCE. THE ASSESSING OFFICER, THEREFORE , MADE THE ESTIMATED ADDITION OF RS. 5 LACS ON THIS ACCOUNT. SIMILARLY THE ASSESSING OFFICER FOUND THAT AN AMOUNT OF RS. 2 LACS RECEIVED FROM SHRI SUSHIL KUMAR RATANLAL WAS FOUND DEPOSITED IN THE BANK ACCOUNT OF THE ASSESSEE, DETAILS OF WHICH THE ASSESSEE COULD NOT PRODUCE BEFORE THE ASSE SSING OFFICER. THE ASSESSING OFFICER, THEREFORE, ADDED THE SAME TO ANMOL TIWARI ITA NO. 613/IND/2015 3 THE TOTAL INCOME OF THE ASSESSEE U/S 69 OF THE ACT. O N THIS BASIS, THE ASSESSING OFFICER INITIATED PENALTY PROCEED INGS U/S 271(1)(C) OF THE ACT AND IMPOSED PENALTY OF RS.1,22,400/- U/S 271(1)(C) OF THE ACT WHICH WAS CON FIRMED IN APPEAL BY THE LEARNED CIT(A). NOW THE ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL. 4. BEFORE ME THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEES STAY IN UK WAS SHORT AND THERE IS NO QUESTION OF ESTIMATING ANY ADDITIONAL EXPENDITURE AND AS SUCH THE ADDITION DESERVES TO BE DELETED. ON THE OTHER HAND, THE LEARNED DR RELIED U PON THE ORDERS OF THE AUTHORITIES BELOW. 5. I HAVE HEARD BOTH THE SIDES. AFTER CONSIDERING TH E FACTS OF THE CASE, I FIND THAT THE ASSESSEE HAS UTTERLY FAILED TO FILE ANY REPLY OR DETAILS BEFORE THE AUTHORITIES BE LOW IN REGARDS TO THE AMOUNTS OF RS.1,58,500/- AND RS. 2 LACS WITHDRAWN FROM M/S NARINDER INDUSTRIES AND SHRI SUSH IL ANMOL TIWARI ITA NO. 613/IND/2015 4 KUMAR RATANLAL. I HAVE ALSO GONE THROUGH THE ORDERS OF T HE AUTHORITIES BELOW. IT HAS NOT BEEN DISPUTED THAT THE ASSESSEE HAS NOT FILED ANY REQUISITE DETAILS BEFORE THE ASSESSING OFFICER AND THE LEARNED CIT(A). THE ASSESSE E SUBMITTED BEFORE THE ASSESSING OFFICER THAT THE ASSES SEE BECAME BANKRUPT AND THE BANK PROCEEDINGS FOR RECOVERY AND POSSESSION OF THE PROPERTY MADE EVERYTHING DISTU RBED AND THE ASSESSEES OFFICE AND RESIDENCE IS DISCARDED, AL L THE THINGS ARE NOT AVAILABLE AND NO MORE DETAILS CAN BE PROVIDED. THE ASSESSEE HAS FILED WRITTEN SUBMISSIONS IN WHICH THE ASSESSEE WAS NOT ABLE TO GIVE ANY EVIDENCE TO THE REVENUE AUTHORITIES. DURING THE YEAR UNDER CONSIDERATI ON THE ASSESSEE HAS GONE TO UK FOR STUDIES AND WITHDREW 2 000 POUNDS FROM THE BANK. NO DETAILS ABOUT FOREIGN EXPENS ES ARE FILED AND THE ASSESSING OFFICER ESTIMATED THE ADDIT IONAL EXPENSES OF RS. 5 LACS AND THE ASSESSEE HAS ALSO SHOWN RS.2 LACS ON CREDIT FROM SUSHIL KUMAR BUT NO EVIDENCE WAS ANMOL TIWARI ITA NO. 613/IND/2015 5 SUBMITTED. THEREFORE, THE REVENUE AUTHORITIES HAVE CONFIRMED THE PENALTY. THEREFORE, IN MY OPINION, MY INTERFERENCE IS NOT REQUIRED AT-ALL. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMIS SED. PRONOUNCED IN OPEN COURT ON 25 TH JULY, 2016 SD/- (D.T. GARASIA) JUDICIAL MEMBER 25 TH JULY, 2016 DN/- ANMOL TIWARI ITA NO. 613/IND/2015 6