ITO,Wd.-1(4), Parbhani V. Shri Yogaji Hanumantrao Shinde, Hingoli

ITA 767/PUN/2011

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 9906 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 4 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 04-10-2012
• Assessment Year: 2005-2006
• Appeal Filed On: 06-06-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS VINITA MENON
• Keywords: Unexplained investment; Income from undisclosed sources
• Section: 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI R.K. PANDA, AM ITA NO. 767/PN/2011 (ASSESSMENT YEAR: 2005-06) INCOME-TAX OFFICER, WARD 1(4) PARBHANI APPELLANT VS. SHRI YOGAJI HANMANTRO SHINDE GANESH WADI, HINGOLI, PAN BWSPS 2013 S RESPONDENT APPELLANT BY: MRS. VINITA MENON RESPONDENT BY: NONE DATE OF HEARING: 17-10-2012 DATE OF PRONOUNCEMENT: 30-10-2012 ORDER PER SHAILENDRA KUMAR YADAV, JM THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)- AURANGABAD DATED 18-3-2011 FOR A.Y. 2005-06 DELETIN G THE ADDITION OF RS. 17,48,000/- MADE ON ACCOUNT OF INCOME FROM UNDISCLOSED SOURCES. 2. THE RELEVANT FACTS ARE THAT THE ASSESSEE IS AN INDIVIDUAL DERIVING AGRICULTURAL INCOME. THE ASSESS EE DID NOT FILE ANY RETURN OF INCOME. THE A.O NOTICED FROM THE AIR THAT THE ASSESSEE HAS DEPOSITED CASH AGGREGATING RS. 33,48,000/- IN HIS SAVING ACCOUNT DURING THE FINANCIAL YEAR 2004-05. THE AO COMPLETED THE ASSESSMENT U/S 144 OF THE ACT DETERMINING THE TOTAL INCOME AT RS. 33,48,000/- BY TREATING THE CAS H DEPOSITED IN THE SAVING ACCOUNT AS UNEXPLAINED INVESTMENT. 3. ON APPEAL, THE CIT(A) HAS SUSTAINED THE ADDITION OF RS. 16,00,000/- AND DELETED THE BALANCE AMOUNT O F 2 ITA NO 767/PN/11 YOGAJI H SHINDE A.Y. 2005-06 RS. 17,48,000/-, AGAINST WHICH THE REVENUE IS IN APPEAL BEFORE US. 4. WE HAVE HEARD THE LEARNED DR. NONE APPEARED ON BEHALF OF THE ASSESSEE. WE THEREFORE, PROCEED TO DECIDE THIS CASE AFTER HEARING THE LEARNED DR AND PERUSING THE MATERIAL ON RECORD. IT IS SEEN THAT T HE ASSESSEE HAS CLAIMED DEPOSITS OF RS. 17,48,000/- OU T OF AGRICULTURAL INCOME OF CURRENT AS WELL AS PAST SEVERAL YEARS. THE ASSESSEE OWNS AGRICULTURAL LAND AND FILED 7/12 EXTRACTS OF SUCH AGRICULTURAL LAND A ND THE DETAILS OF CROPS SOWN FROM THE FINANCIAL YEAR 1 992- 93 TO 2007-08. THIS SHOWS THAT THE ASSESSEE IS ENGAGED IN THE AGRICULTURAL ACTIVITIES FOR LAST 13 YEARS. THE ASSESSEE HAS NO OTHER SOURCE OF INCOME EXCEPT AGRICULTURAL INCOME. THE AO HAS NOT BROUGHT OUT ANYTHING ON RECORD TO SHOW THAT THE ASSESSEE IS ENGAGED IN ANY OTHER BUSINESS OTHER THAN THE AGRICULTURAL ACTIVITIES. IN THIS VIEW OF THE MATTE R, THE CIT(A) WAS JUSTIFIED IN DELETING THE IMPUGNED ADDIT ION. WE UPHOLD THE SAME. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. DECISION PRONOUNCED IN THE OPEN COURT ON 30 TH CCTOBER 2012. SD/- SD/- (R.K. PANDA) (SHAILENDRA KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER PUNE, DATED: 30 TH OCTOBER 2012 ANKAM COPY TO:- 1. ASSESSEE 2. DEPARTMENT 3. THE CIT (A) II PUNE 4. THE CIT II PUNE 5. THE D.R. B BENCH, I.T.A.T., PUNE. BY ORDER 3 ITA NO 767/PN/11 YOGAJI H SHINDE A.Y. 2005-06 //TRUE COPY// SR. P.S. I.T.A.T., PUNE