Smt. A.Kirubavathi, CHENNAI V. DCIT, Coimbatore

ITA 775/CHNY/2010

• Counselvise Citation: 77521714 RSA 2010
• Duration Of Justice: 1 year(s) 3 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 23-08-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 21-05-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T N BETGIRI
• Assessee Lawyers: K S B ALAKRISHNAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI B E F O R E DR. O.K.NARAYANAN, VICE PRESIDENT AND SHRI HARI OM MARATHA, JUDICIAL MEMBER .. ITA NO.771(MDS)/2010 ASSESSMENT YEAR: 2007-08 M/S.V.NATARAJA MUDLIAR & SONS, 300-301, & 1154A, BIG BAZAR ST.,COIMBATORE-1. PAN AACFV6934C. VS. THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE III, COIMBATORE. (APPELLANT) (RESPONDENT) ITA NO.772(MDS)/2010 ASSESSMENT YEAR: 2007-0 8 M/S. V.NATARAJA MUDALIAR & THE DEPUTY COMMISSIONER SONS NAGAI MALIGAI, 1028- VS. OF INCOME-TAX , 1029, CROSS CUT ROAD, CENTRAL CIRCLE III, COIMBATORE-641012. COIMBAT ORE. PAN AAEFV7838D. (APPELLANT) (RESPONDENT) ITA NO.773(MDS)/2010 ASSESSMENT YEAR 2007-08 M/S.V.NATARAJA MUDALIAR & THE DEPUTY COMMISSIONER SONS JEWELLERS, 431/435, VS OF INCOME-TA X, NSR ROAD, SAIBABA COLO- CENTRAL CIRC LE III, NY, COIMBATORE-641011. COIMBATORE . PAN AAFFV3758F. (APPELLANT) (RESPONDENT) - - ITA 771 TO 775 OF 2010, ETC. 2 ITA NOS.774 & 775(MDS)/2010 ASSESSMENT YEARS 2005-06 & 2006-07 SMT. A.KIRUBAVATHI, TH E DEPUTY COMMISSIONER 64, VYSIAL STREET, VS O F INCOME-TAX, COIMBATORE-641001. CENTR AL CIRCLE III, PAN AKQPK8890C. COIMBAT ORE. (APPELLANT) (RESPONDENT) ITA NO.865(MDS)/2010 ASSESSMENT YEAR: 2007-08 THE DEPUTY COMMISSIONER M/S. V.NAT ARAJA MUDALIAR & OF INCOME-TAX, VS S ONS,1154A, BIG BAZAR ST. CENT. CLE. III, COIMBATORE. COIMB ATORE. (APPELLANT) (RESPONDENT) ITA NO.866(MDS)/2010 ASSESSMENT YEAR: 2007-08 THE DEPUTY COMMISSIONER M/S.V.NATARA JA MUDALIAR & OF INCOME-TAX, VS SO NS NAGAI MALIGAI, CENTRAL CIRCLE III, 1028-1029, CROSS CUT RD. COIMBATORE. COIMBATORE-641 012. (APPELLANT) (RESPONDENT) AND ITA NO.867(MDS)/2010 ASSESSMENT YEAR: 2007-08 THE DEPUTY COMMISSIONER M/S.V.NATARA JA MUDALIAR & OF INCOME-TAX, VS SO NS JEWELLERS, 431/435, CENTRAL CIRCLE III, NSR RD., SAIBABA COLONY, COIMBATORE. COIMBATORE-641 011. (APPELLANT) (RESPONDENT) - - ITA 771 TO 775 OF 2010, ETC. 3 ASSESSEES BY : SHRI K.S.BALAKRISH NAN, ADVOCATE DEPARTMENT BY: SHRI T.N.BETGIRI, JCIT - DR DATE OF HEARING : 23 RD AUGUST, 2011 DATE OF PRONOUNCEMENT : 23 RD AUGUST, 2011 O R D E R PER DR.O.K.NARAYANAN, VICE-PRESIDENT: THIS IS A BUNCH OF EIGHT APPEALS. ITA NOS.771, 7 72 AND 773(MDS)/2010 ARE FILED BY THE ASSESSEES AND ITA NO S.865, 866 AND 867(MDS)/2010 ARE THE CORRESPONDING CROSS APPEA LS FILED BY THE REVENUE. ITA NOS.774 AND 775(MDS)/2010 ARE AGA IN FILED BY THE ASSESSEE. THE RELEVANT ASSESSMENT YEARS ARE 2005-06, 2006-07 AND 2007-08. 2. THE GRIEVANCES RAISED IN ALL THESE APPEALS ARE REGARDING THE QUANTUM OF STOCK VARIATION, STATED TO BE DETECTED AT THE TIME OF SURVEY AND SEARCH. THE ASSESSING AU THORITIES HAVE MADE ADDITIONS ON ACCOUNT OF THE ALLEGED STOCK VARIATIONS, WHICH HAVE BEEN PARTIALLY MODIFIED BY THE COMMISSIO NER OF INCOME TAX (APPEALS). THE ASSESSEES ARE AGGRIEVED ON THAT PART OF THE ADDITIONS SUSTAINED BY THE COMMISSIONER OF INCOME - - ITA 771 TO 775 OF 2010, ETC. 4 TAX (APPEALS) AND THE REVENUE IS AGGRIEVED ON THE Q UANTUM OF RELIEF GRANTED BY THE COMMISSIONER OF INCOME TAX (A PPEALS). IN ADDITION TO THE CASE OF EXCESS STOCK OF GOLD AND SI LVER, THERE IS ALSO THE ISSUE OF UNEXPLAINED CASH AS WELL AS THE I SSUE OF AGRICULTURAL INCOME TREATED AS INCOME FROM OTHER SO URCES. 3. ALL THE ASSESSEES BELONG TO THE SAME GROUP. TH E FACTS AND CIRCUMSTANCES OF THE CASES ARE SIMILAR TO ALL THE ASSESSEES. THE APPEALS FILED BY SMT. N.CHANDRA, SHR I N.ANANDA SRINIVASAN AND SHRI N.SIVASANMUGAM, ASSOCIATES OF T HE ASSESSEES, IN THESE CIRCUMSTANCES, HAVE BEEN CONSID ERED BY THIS BENCH OF THE TRIBUNAL IN THEIR ORDER DATED 20- 6-2011. THOSE APPEALS WERE DISPOSED OF IN ITA NOS.776 TO 780(MDS) /2010, 781 TO 785(MDS)/2010, 786 TO 790(MDS)/2010 AND 868 TO 870(MDS)/2010. CONSIDERING ALL THE FACTS AND CIRCU MSTANCES OF THE CASE, WHICH ARE EXACTLY SIMILAR TO THE CASES ON HAND, THE TRIBUNAL HAS REMANDED BACK THE FILES TO THE ASSESSI NG AUTHORITY TO RE-EXAMINE THE ISSUES. FOLLOWING THE ABOVE STAT ED COMMON ORDER OF THE TRIBUNAL, THESE CASES ARE ALSO REMANDE D BACK TO THE ASSESSING OFFICER TO RECONSIDER THE ISSUES OF EXCES S STOCK OF GOLD AND SILVER, UNEXPLAINED CASH AND AGRICULTURAL INCOME. - - ITA 771 TO 775 OF 2010, ETC. 5 4. AS THE ISSUES RAISED BY THE ASSESSEES IN THESE APPEALS HAVE BEEN REMANDED BACK TO THE ASSESSING AU THORITY, THE GROUNDS RAISED BY THE REVENUE DO NOT BECOME MAT URE NOW. THE ISSUES RAISED IN THE GROUNDS OF THE REVENUE MAY ALSO BE CONSIDERED BY THE ASSESSING AUTHORITY. 5. IN RESULT THE APPEALS OF THE ASSESSEE AS WELL A S THE APPEALS OF THE REVENUE ARE TREATED AS ALLOWED FOR S TATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON TUESDAY, THE 23 RD DAY OF AUGUST, 2011 AT CHENNAI. SD/- SD/- (HARI OM MARATHA) (DR. O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 23 RD AUGUST, 2011. V.A.P. COPY TO: (1) APPELLANT (2) RESPONDENT (3) CIT (4) CIT(A) (5) D.R. (6) G.F.