Shri Kapil Patel, Harda V. The ITO 2, Itarsi

ITA 714/IND/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5822 (ITAT-INDORE)
• Duration Of Justice: 2 year(s) 1 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 06-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Assessee Lawyers: S N AGRAWAL

Judgement Text

KAPK PATEL ITA NO. 714/IND/2013 1 IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, INDORE BEFORE SHRI B.C. MEENA, HONBLE ACCOUNTANT MEMBER ITA NO. 714/IND/2013 A.Y.2007-08 KAPIL PATEL HARDA ::: APPELLANT VS INCOME TAX OFFICER 2 ITARSI ::: RESPONDENT APPELLANT BY SHRI S.N. AGRAWAL AND SHRI PANKAJ MOGRA RESPONDENT BY SHRI R.A. VERMA DATE OF HEARING 21.12.2015 DATE OF PRONOUNCEMENT 2 . 2 . 1.201 6 O R D E R THIS APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF THE LEARNED CIT(A)-I, BHOPAL, DATED 10.10.2 013. KAPK PATEL ITA NO. 714/IND/2013 2 2. GROUND NOS. 1.1 TO 2 WERE NOT PRESSED. THE SAME AR E, THEREFORE, AS SUCH. 3. IN GROUND NOS. 3.1 AND 3.2 THE ISSUE INVOLVED IS ABOUT SUSTAINING THE ADDITION OF RS.7,78,005/-. 4. BEFORE ME, IT WAS SUBMITTED BY THE LEARNED COUNSEL FOR THE ASSESSEE THAT THE ASSESSEE IS AN AGRICULTURIST HAVING LAND AROUND 20 ACRES SITUATED AT GRAM CHIPANER PATWARI HALKA NO. 2 VIKAS KHAND TIMARANI. THE TOTAL HOLDING IS MORE THAN 36 ACRES. THE CASH OF RS. 12,28,000/- WAS DEPOSITED IN THE BANK ACCOUNT MAINTAINED WITH SATPURA NARMADA KSHETRIYA GRAMIN BANK MADHU MARKET HARDA BRANCH. THE SOURCE OF DEPOSIT WAS SALE OF AGRICULTURAL PRODUCE OF RS. 4,27,911/- AND THE WITHDRAWAL FROM TH E BANK WHICH WAS REDEPOSITED. THE CASH FLOW STATEMENT W AS SUBMITTED BEFORE THE ASSESSING OFFICER. THE ASSESSE E HAS WITHDRAWN RS. 11,41,000/- FROM THE BANK ACCOUNT WHICH WAS USED FOR AGRICULTURAL EXPENSES AS WELL AS FOR SELF KAPK PATEL ITA NO. 714/IND/2013 3 EXPENSES AND THE REMAINDER WAS REDEPOSITED IN THE BANK ACCOUNT. IT WAS SUBMITTED THAT THE ASSESSEE HAS PRODUC ED CASH-IN-FLOW AND OUT-FLOW CHART AND THE REVENUE HAS FAILE D TO FIND ANY FAULT THEREIN. IT WAS SUBMITTED THAT SINCE THE ASSESSEE IS AN AGRICULTURIST NOT INDULGING IN ANY OTHER ACTIVITY, THEREFORE, THIS ADDITION CANNOT BE MADE IN TH E HANDS OF THE ASSESSEE. LEARNED DR RELIED UPON THE ORD ERS OF THE AUTHORITIES BELOW. 5. I HAVE HEARD BOTH THE SIDES. THE ASSESSEE IS HAVING LAND OF MORE THAN 20 ACRES. THIS FACT IS NOT IN DISPUT E. THE FAMILY OF THE ASSESSEE LIVES IN A VILLAGE AND ALSO HAVING LAND HOLDING. THE ASSESSEE SUBMITTED RELEVANT EVIDENC E IN RESPECT OF HOLDING OF THE LAND AND AGRICULTURAL ACTIVITI ES. THE ASSESSEE HAS SOLD THE PRODUCTS IN MANDI SAMITI AND THE AMOUNT WAS DEPOSITED IN THE BANK ACCOUNT. IT IS CLAIMED THAT THE ASSESSEE HAD NO OTHER SOURCE OF INCOM E. CONSIDERING ALL THESE ASPECTS, I RESTORE THE ISSUE TO THE FILE KAPK PATEL ITA NO. 714/IND/2013 4 OF THE ASSESSING OFFICER ONLY FOR LIMITED PURPOSE T O ASCERTAIN THAT IF THE ASSESSEE IS NOT HAVING ANY OTHER SOURCE OF INCOME EXCEPT THE AGRICULTURE THEN THE ADDI TION BE DELETED. 6. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN OPEN COURT ON 2 ND JANUARY, 2016 SD/- (B.C. MEENA) ACCOUNTANT MEMBER 2/2/2016 DN/-