Nanak Chand Bansal, Faridabad V. DCIT, Central Circle- II, Faridabad

ITA 7340/DEL/2017

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 6807 (ITAT-DELHI)
• Duration Of Justice: 4 year(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-12-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2011-2012
• Appeal Filed On: 07-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard
• Section: 69

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘D’ BENCH, NEW DELHI (THROUGH VIDEO CONFERENCING] BEFORE SHRI AAKASH DEEP JAIN, VICE PRESIDENT AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA No. 3570/DEL/2018 [A.Y 2009-10] ITA No. 7339/DEL/2017 [A.Y 2010-11] ITA No. 7340/DEL/2017 [A.Y 2011-12] ITA No. 7341/DEL/2017 [A.Y 2012-13] Shri Nanak Chand Bansal Vs. The Dy. C.I.T House No. 122, Sector - 9 Ward 2(1) Faridabad, Haryana Faridabad PAN: AAUPC 9499 B (Applicant) (Respondent) Assessee By : Shri Somil Agarwal, Adv Department By : Ms. Sarita Kumar, CIT-DR Date of Hearing : 08.12.2021 Date of Pronouncement : 08.12.2021 ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER: The above four appeals by the assessee are preferred against the orders of the CIT[A]-2, Gurgaon dated 23.02.2018 pertaining to Assessment Year 2009-10, CIT[A], Karnal dated 07.09.2017 pertaining to 2 Assessment Year 2010-11 and 07.09.2017 for Assessment Years 2011-12 and 2012-13 respectively . 2. Since the underlying facts in issues are common in all the captioned four appeals, all the appeals were heard together and are disposed off by this common order for the sake of convenience and brevity. 3. The common grievance in all the captioned four appeals relates to the addition made u/s 69 of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'] though the quantum may differ in all the appeals. 4. Representative of both the sides were heard at length, case records carefully perused. 5. Facts on record show that search and seizure operation was conducted at the premises of M/s SRS Group. During search operations, documents regarding sale/purchase of difference properties were found. The assessee was required to file detail with regard to the transactions of investment in various properties for the captioned Assessment Years. 3 6. On perusal of the details filed by the assessee, the Assessing Officer found that the assessee has made cash payment for purchase of properties and failed to give any documentary evidence with respect to source of the said investment and, accordingly, additions u/s 69 of the Act were made by the Assessing Officer in the captioned A.Ys. 7. The assessee carried the matter before the ld. CIT(A) but without any success. 8. Before us, the ld. counsel for the assessee vehemently stated that cash payments have been made out of withdrawals made from bank and the assessee has successfully given documentary evidences with respect to source of investment in properties. 9. The ld. DR supported the findings of the Assessing Officer/ld. CIT(A). 10. We have carefully perused the assessment order. We find that the assessment order is silent about the withdrawals made from bank accounts nor there is any reference to any bank account. We are of the 4 considered view that in light of the statement made by the ld. counsel for the assessee, it would be in the interest of justice to restore the issue to the file of the Assessing Officer. The assessee is directed to furnish bank statements and other necessary evidences to explain the source of investment in properties and the Assessing Officer is directed to examine the same and decide the issue afresh after giving reasonable and fair opportunity of being heard to the assessee. 12. In the result, all the four appeals of the assessee in ITA Nos. 3570/DEL/2018, 7339/DEL/2017, 7340/DEL/2017 and 7341/DEL/2017 are allowed for statistical purposes. The order is pronounced in the open court on 08.12.2021. Sd/- Sd/- [AAKASH DEEP JAIN] [N.K. BILLAIYA] VICE PRESIDENT ACCOUNTANT MEMBER Dated: 08 th December, 2021 VL/ 5 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi Date of dictation Date on which the typed draft is placed before the dictating Member Date on which the typed draft is placed before the Other Member Date on which the approved draft comes to the Sr.PS/PS Date on which the fair order is placed before the Dictating Member for pronouncement Date on which the fair order comes back to the Sr.PS/PS Date on which the final order is uploaded on the website of ITAT Date on which the file goes to the Bench Clerk Date on which the file goes to the Head Clerk The date on which the file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order