DR. GANESH K KINI, MUMBAI V. ITO 11(3)(2), MUMBAI

ITA 8153/MUM/2011

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 3753 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 5 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-05-2016
• Appeal Filed By: Assessee
• Bench Allotted: G
• Next Hearing Date: 05-05-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 05-12-2011
• Court: TRIBUNAL
• Department Lawyers: S K BEPARI
• Assessee Lawyers: VASANTI B PATEL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL G , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANJAY GARG , JM ./ ITA NO. 8153 / MUM/20 1 1 ( / ASSESSMENT YEAR : 20 08 - 09 ) DR. GANESH N. KINI, FLAT NO.702, A, KRISHNA, NEELKANTH VIHAR, TILAK NAGAR, CHEMBUR, MUMBAI - 400089 VS. ITO - 1 ( 3 )( 2 ), MUMBAI ./ ./ PAN/GIR NO. : A A YPK 9576 F ( / APPELLANT ) .. ( / RESPONDENT ) /ASSESSEE BY : MS. VASANTI B. PATEL /REVENUE BY : MR. S.K.BEPARI / DATE OF HEARING : 0 5 /05/2016 / DATE OF PRONOUNCEMENT 11/05 /201 6 / O R D E R PER R.C.SHARMA (A.M) : THIS IS AN APPEAL FILED B Y THE ASSESSEE AGAINST THE ORDER OF CIT(A) - MUMBAI, FOR THE ASSESSMENT YEAR 20 08 - 09 . 2. IN THIS APPEAL, THE ASSESSEE IS AGGRIEVED FOR THE ADDITION MADE IN RESPECT OF AMOUNT DEPOSITED IN BANK ACCOUNT AND ALSO FOR DISALLOWANCE OF 10% OF MOTOR CAR AND TELEPHON E EXPENSES. 3. RIVAL CONTENTIONS HAVE BEEN HEARD AND RECORD PERUSED. F ACTS IN BRIEF ARE THAT THE ASSESSEE IS A DOCTOR PRACTISING AS NEUROLOGY CONSULTANT. DURING THE YEAR ASSESSEE HAD SHOWN INCOME FROM BUSINESS/PROFESSION AND INCOME FROM OTHER SOURCES. DURI NG THE COURSE OF SCRUTINY ASSESSMENT, THE AO FOUND THAT ASSESSEE HAS DEPOSITED CASH IN THE JOINT ACCOUNT WITH DHANLAKSHMI BANK LTD., CHEMBUR. THE AO ENQUIRED RELEVANT ITA NO. 8153 /1 1 2 SOURCE OF DEPOSIT IN THE BANK. IT WAS EXPLAINED THAT THE DEPOSIT IN THE BANK WAS OUT OF R EALISATION OF INVESTMENT HELD BY HIS FATHER. LD. AR ALSO PLACED ON RECORD DETAILS OF INVESTMENT AND SOURCE OF INCOME OF THE FATHER OF ASSESSEE. AS PER THE STATEMENT OPENING BALANCE AS ON 1 - 4 - 2007 IN RESPECT OF SUCH MATURITY V ALUE OF FD, REDEMPTION OF BONDS , INTEREST ON MIS, REDEMPTION OF MUTUAL FUND, FD INTEREST AND DIVIDEND ETC. AMOUNT ED TO RS.34,18,242/ - , OUT OF WHICH WITHDRAWAL DURING THE YEAR WAS RS.32,74,985/ - . ACCORDINGLY, IT WAS EXPLAINED THAT AMOUNT DEPOSITED IN THE BANK WAS OUT OF THE REALISATION O F MATURITY ON FDR, INTEREST REDEMPTION OF BONDS, SAVINGS BANK INTEREST AND REDEMPTION ON MUTUAL FUND ETC, WHICH WAS HELD BY HIS FATHER. HOWEVER, THE AO DID NOT AGREE WITH THE ASSESSEES CONTENTION ON THE PLEA THAT IN THE JOINT ACCOUNT NAME OF FATHER WAS AD DED ONLY SUBSEQUENTLY, THEREFORE, REALISATION OUT OF THESE INVESTMENTS WERE NOT ACCEPTED IN THE HANDS OF THE ASSESSEE. WE DO NOT FIND ANY MERIT IN THE ACTION OF LOWER AUTHORITIES, INSOFAR AS ALL THESE INVESTMENTS WERE ALREADY HELD BY THE FATHER OF THE ASSE SSEE WHO HAS ALSO APPEARED BEFORE THE AO AND RECORDED HIS STATEMENT. THE ASSESSEE HAS ALSO FILED LETTER DATED 13 - 12 - 2010, COPY OF INCOME TAX RETURN, COPY OF ACKNOWLEDGEMENT OF FILING OF RETURN AND AFFIDAVIT FROM HIS FATHER TREATING THAT THE ACCOUNT BELONG S TO HIM AND THE SAME IS REFLECTED IN THE INCOME TAX RETURN. FROM THE RECORD WE FOUND THAT FATHER OF THE ASSESSEE ALSO APPEARED BEFORE THE AO WHOSE STATEMENT WAS RECORDED AND RELEVANT QUESTION REGARDING HOLDING OF INVESTMENT AND DEPOSIT IN THE BANK ACCOUN T ITA NO. 8153 /1 1 3 WAS CONFIRMED. ACCORDINGLY, WE DO NOT FIND ANY MERIT FOR THE ADDITION SO MADE BY THE AO IN THE HANDS OF ASSESSEE. 4. THE ASSESSEE HAS ALSO CHALLENGED DISALLOWANCE OF 10% OF EXPENSES ON MOTOR CAR AND TELEPHONE EXPENSES. 5. IT WAS ARGUED BY LD. AR THAT AS SESSEE IS A DOCTOR AND THE EXPENDITURE WERE INCURRED WHOLLY AND EXCLUSIVELY FOR THE PURPOSE OF HIS PROFESSION. 6 . WE HAVE CONSIDERED RIVAL CONTENTIONS , AND THE FACT OF PERSONAL ELEMENT IN SUCH EXPENSES CANNOT BE RULED OUT. ACCORDINGLY, WE CONFIRM THE DISA LLOWANCE SO MADE. 7 . IN THE RESULT, GROUND NO.1&2 ARE DISMISSED AND GROUND NO.3 IS ALLOWED. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 11/05 / 201 6 . SD/ - ( SANJAY GARG ) SD/ - ( R.C.SHARMA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 11/05 /201 6 . . /PKM , . / PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, / ( ASSTT. REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE R ESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. //TRUE COPY//