Ranveer Singh Chauhan, Meerut V. ITO, Ward-2(2), Meerut

ITA 7890/DEL/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7523 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 1 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 11-12-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Salary income; Capital Gains
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH F+SMC, NEW DELHI BEFORE SH. R. K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO.7890/DEL/2018 ASSESSMENT YEAR: 2015-16 RANVEER SINGH CHAUHAN C/O SARASWATI LEGAL PROFESSIONAL P. LTD., S-48, C- BLOCK, SHALIMAR GARDEN EXTN- II, SAHIBABAD, GHAZIABAD PAN NO.AEYPC4949L VS. ITO WARD 2 (2) MEERUT (APPELLANT) (RESPONDENT) APPELLANT BY NONE RESPONDENT BY SHRI PRADEEP SINGH GAUTAM, SR. DR DATE OF HEARING: 30/01/2020 DATE OF PRONOUNCEMENT: 30/01/2020 ORDER PER R.K PANDA, AM: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER DATED 03.10.2018 OF THE CIT(A), MEERUT RELATI NG TO A.Y.2015-16. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE DESPITE SERVICE OF FOUR NOTICES BY REGISTRY THROUGH RPAD. NO PETITION SEEKING PAGE | 2 ADJOURNMENT OF THE CASE HAS BEEN FILED. WE, THEREF ORE, DEEM IT PROPER TO DECIDE THE ISSUE ON THE BASIS OF MATERIAL AVAILABLE ON RECORD AND AFTER HEARING THE LD. DR. 3. THE ASSESSEE IN ITS GROUND OF APPEAL HAS BASICAL LY CHALLENGING THE ORDER OF THE CIT(A) IN CONFIRMING THE PENALTY OF RS.8,54,173/- LEVIED BY THE AO U/S. 271 (1) (C) OF THE IT ACT. 4. FACTS OF THE CASE, IN BRIEF, ARE THAT THE ASSESS EE IS AN INDIVIDUAL AND HAD FILED HIS RETURN OF INCOME DECLA RING TOTAL INCOME OF RS.3,84,120/-. THE AO COMPLETED THE ASSE SSMENT U/S. 143 (3) ON 18.12.2017 DETERMINING THE TOTAL INCOME AT RS.45,79,404/- WHEREIN HE MADE ADDITION ON ACCOUNT OF CASH DEPOSIT OF RS. 20 LACS AND HAD ADDED LONG TERM CAP ITAL GAIN. THE LD. CIT(A) PARTLY ALLOWED THE APPEAL FILED BY THE A SSESSEE WHEREIN HE CONFIRMED THE ADDITION OF RS. 20 LACS AS UNEXPLA INED CASH DEPOSIT AND MODIFIED THE LONG TERM CAPITAL GAIN. TH E AO THEREAFTER INITIATED PENALTY PROCEEDINGS U/S. 271 (1) (C) OF T HE ACT AND LEVIED PENALTY OF RS.8,54,173/- BEING PENALTY @ 100% OF TA X SOUGHT TO BE EVADED. 5. IN APPEAL THE LD. CIT(A) CONFIRMED THE PENALTY L EVIED BY THE AO BY OBSERVING AS UNDER :- I HAVE PERUSED THE FACTS OF THE CASE AND TAKEN NOT E OF THE ASSESSMENT ORDER, MY APPEAL ORDER DATED 28.02.2018 AND THE CONSEQUENTIAL APPEAL EFFECT ORDER DATED 31.03.2018 AND THE IMPUGNED PENALTY ORDER ALONG WITH THE ARGUMENTS GIV EN BY THE LD. AR. IN THIS CASE THE BASIS FACT IS THAT IN THE RETU RN ORIGINALLY FILED THE APPELLANT HAD ONLY SHOWN SALARY INCOME WHICH THE AO HAS DOWNLOADED FROM THE SYSTEM AND THE PLACED ON RECORD . FROM THE PAGE | 3 PERUSAL OF THE DOWNLOADED SHEET SHOWING COMPUTATION OF INCOME, FOR THE A.Y. 2015- 16, I.E THE YEAR UNDER CONSIDERATION , IT IS SEEN OTHER THAN SALARIES INCOME THE ASSESSEE HAS SHOWN NOTHING BY WAY OF CAPITAL GAIN OR ANY DETAILS REGARDING CASH DEPOSITS OF RS,A0 LACS WHICH HAS BEEN ADDED BY THE AO AND THE CONFIRMED BY THE CIT(A) IN APPEAL ORDER. AS REGARDS CAPITAL GAINS I HAVE GIVEN CERTAIN RELIEF BASED ON JUDICIAL PRECEDENTS WHICH THE AO HAS ACCOU NTED FOR WHILE GIVING APPEAL EFFECT THEREAFTER THE AO HAS DULY CON SIDERED THE ARGUMENTS GIVEN BY THE ID. AR AND HAS PASSED THE IM PUGNED PENALTY ORDER. IN APPEAL BEFORE ME THE ID. AR OF THE APPELLANT HAS SIMPLY REPEATED ALL THE ARGUMENTS GIVEN DURING THE QUANTUM APPEAL O RDER AND HAS NOT BROUGHT ANY MATERIAL OR ARGUMENT SPECIFICALLY T O ASSAIL THE PENALTY ORDER. IN VIEW OF THIS POSITION I FIND NO R EASON TO INTERFERE IN THE PENALTY ORDER AND THE PRESENT APPEAL CANNOT BE SUSTAINED ON ANY GROUND. THUS THE PENALTY U/S 271(L)(C) OF THE I NCOME TAX ACT, 1961 IS HEREBY CONFIRMED. 6. AGGRIEVED WITH SUCH ORDER OF THE CIT(A), THE ASS ESSEE IS IN APPEAL BEFORE THE TRIBUNAL 7. WE HAVE HEARD THE LD. DR AND PERUSED THE MATERIA L AVAILABLE ON RECORD. WE FIND NO SATISFACTORY EXPLAN ATION WAS GIVEN BY THE ASSESSEE EITHER BEFORE THE AO OR BEFORE THE CIT(A) REGARDING CASH DEPOSIT OF RS.20 LACS FOR WHICH THE SAME WAS ADDED TO THE TOTAL INCOME OF THE ASSESSEE. FURTHER , THE ASSESSEE WAS ALSO UNABLE TO SUBSTANTIATE THE LONG TERM CAPIT AL GAIN NOT DISCLOSED BY HIM IN THE RETURN OF INCOME. SINCE TH E ASSESSEE HAS CONCEALED HIS PARTICULAR OF INCOME WITHIN THE MEANI NG OF PROVISIONS OF 271 (1) (C) OF THE IT ACT., THEREFORE , WE DO NOT FIND PAGE | 4 ANY INFIRMITY IN THE ORDER OF THE CIT(A) IN CONFIRM ING THE PENALTY LEVIED BY THE AO. ACCORDINGLY THE ORDER OF THE CIT (A) IS UPHELD AND GROUNDS RAISED BY THE ASSESSEE ARE DISMISSED. 8. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30.01.2020. SD/- SD/- (SUCHITRA KAMBLE) (R.K PANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER *NEHA* DATE:-30 .01.2020 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI DATE OF DICTATION 30.01.2020 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 30.01.2020 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS /PS 30.01.2020 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 30.01.2020 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 30.01.2020 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 30.01.2020 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 30.0 1.2020 DATE ON WHICH FILE GOES TO THE HEAD CLERK. THE DATE ON WHICH FILE GOES TO THE ASSISTANT REGIST RAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER