SRI MRINAL, RANCHI V. DCIT CIRCLE-2 , RANCHI

ITA 76/RAN/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0249 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 11 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-03-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 03-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit
• Section: 143(3); 201; 147; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 76 / RAN / 201 8 ASSESSMENT YEAR :2009-10 SRI MRINAL FLAT NO. 406, HERITAGE APARTMENT, BARIATU, RANCHI-834009 [ PAN NO. AAUPM 5800 A ] V/S . DCIT, CIRCLE-2, RANCHI /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI DEVESH PODDAR, ADVOCATE /BY RESPONDENT SRI AJAY KUMAR, ADDL. CIT-DR /DATE OF HEARING 06-03-2020 /DATE OF PRONOUNCEMENT 06-03-2020 / O R D E R PER BENCH (ORAL):- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2009-10 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-RANCHIS ORDER DATED 31.01.2018 PASSED IN CASE NO.RANCHI/10248/2016-17 INVOLVING PR OCEEDINGS U/S 148 R.W.S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED 2. IT TRANSPIRES AT THE OUTSET THAT THE ASSESSEES FIRST AND FOREMOST GROUND RAISED IN THE INSTANT LIS CHALLENGES CORRECTNESS OF VALIDITY OF RE-OPENING INITIATED BY THE ASSESSING OFFICER BEYOND FOUR YEAR S END OF THE IMPUGNED ASSESSMENT YEAR. WE MAKE IT CLEAR THAT WE ARE DEALI NG WITH ASSESSMENT YEAR ITA NO.76/RAN/2018 A.Y. 2009-10 SRI MRINAL VS. DCIT CIR-2, RANCHI PAGE 2 2009-10 WHEREAS THE CORRESPONDING / RE-OPENING REAS ONS HAVE BEEN RECORDED IN THE YEAR 2015-16 FINALLY LEADING TO ISSUANCE OF SEC.148 NOTICE THEREBY CULMINATING IN SEC.68 ADDITION OF UNEXPLAINED CASH CREDITS. WE NOTICE IN THIS FACTUAL BACKDROP TO NOTICE THAT THE ASSESSING OFFIC ERS RE-OPENING REASONS HAVE NOWHERE RECORDED ASSESSEES FAILURE IN NOT DIS CLOSING THE RELEVANT DETAILS IN THE BOOKS OF ACCOUNT FULLY AND TRULY GOING BY THE FIRST PROVISION TO SEC. 147 OF THE ACT. WE QUOTE HON'BLE BOMBAY HIGH C OURTS DECISION IN HINDUSTAN LEAVER LTD. VS. R.B. WADKAR (2004) 268 ITR 339 (BOM) THAT RE- OPENING REASONS HAVE TO BE READ ON STAND ABOVE BAS IS WITHOUT ANY SCOPE FOR FURTHER IMPROVEMENT. HENCE, WE GO BY THE VERY REASO NING HEREIN AND HOLD SINCE THE ASSESSING OFFICER HAS NOT QUOTED ASSESSEE S FAILURE IN THE ABOVE TERMS IN LIGHT OF FIRST PROVISO TO SEC. 147 OF THE ACT THE IMPUGNED PROCEEDINGS DESERVE TO BE QUASHED. WE ORDER ACCORDINGLY. ALL OTHER ISSUES ON MERITS ARE RENDERED INFRUCTUOU S. 3. THIS ASSESSEES APPEAL IS ALLOWED IN ABOVE TERMS . ORDER PRONOUNCED IN THE OPEN COURT AT THE CLOSE OF HEARING ON FRIDAY, 6 TH MARCH 2020 SD/- SD/- ( ) ('# ) (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) RANCHI, *DKP SR.P.S $- 06 / 03 /20 20 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SRI MRINAL FLAT NO.406, HERITAGE APARTME NT, BARIATU, RANCHI-834009 2. /RESPONDENT-DCIT, CIRCLE-2, RANCHI 3. / 2 / CONCERNED CIT RANCHI 4. 2- / CIT (A) RANCHI 5. 5 ##/, /, / DR, ITAT, RANCHI 6. ; / GUARD FILE. BY ORDER/ , SR.PS, (ON TOUR), RANCHI