M/S Chandra & Sons, Ujjain V. THE ITO 1(2), Ujjain

ITA 831/IND/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 5671 (ITAT-INDORE)
• Duration Of Justice: 3 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-10-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 22-07-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S S DESHPANDE
• Assessee Lawyers: MOHD JAVED
• Keywords: Unexplained cash credit

Judgement Text

ITA 831/IND/2016 M/S CHANDRA & SONS 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE .., ..!', #$ # !% BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER I.T.A. NO. 831/IND/2016 ASSESSMENT YEAR: 2002-13 M/S CHANDRA & SONS UJJIN :: APPELLANT VS ITO 1(2) UJJAIN :: RESPONDENT REVENUE BY SHRI S.S. DESHPANDE ASSESSEE BY SHRI MOHD. JAVED ! ' #$ DATE OF HEARING 27.9.2016 %&'( #$ DATE OF PRONOUNCEMENT 28.10.2016 * O R D E R PER SHRI D.T. GARASIA, JM THE SHORT FACTS OF THE CASE ARE THAT THE ASSESSEE DERIVES INCOME FROM REAL ESTATE BUSINESS. THE RETURN OF INCOME DECLARING TOTAL INCOME OF RS.14,780/- HAS BEEN FILED ITA 831/IND/2016 M/S CHANDRA & SONS 2 ON 20.8.2012. THE ASSESSING OFFICER MADE THE ADDITION OF RS. 2 LACS ON ACCOUNT OF UNEXPLAINED CASH CREDIT AND RS.24,000/- OUT OF INTEREST. ON APPEAL, THE LEARNED C IT(A) CONFIRMED THE SAME WITH THE FOLLOWING OBSERVATIONS :- GROUND NO. 1 : THROUGH THIS GROUND OF APPEAL THE APPELLANT HAS CHALLENGED THE ADDITION OF NRS.2,00,000/- ON ACCOUNT OF UNEXPLAINED CASH CREDI T. THE APPELLANT- FIRM HAS TAKEN THE LOAN OF RS. 2,00,000/- FROM SMT. REKHA RSAMLANI BY CHEQUE ON 23.9.2011. THE A.O. MADE THEENQUIRY AND FOUND THAT SMT. REKHA RAMLANI HAS DEPOSITED THE CASH OF EQUAL AMOUNT I.E. RS.2,00,000/- ON 22.9.2011 I.E. IMMEDIATELY BEFORE ISSUING THE CHYEQUE. THE STATEME NT OFSMT. REKHA RAMLANI HAS BEEN RECORDED. DURING THE COURSE OF RECORDING THE STATEMENT SMNT. REKHA RAMLANI STATED THAT SHE HAD RECEIVED THE MONEY FROM VARIOUS DEBTORS. SHE HAS BEEN ASKED TO FURNISH THE ITA 831/IND/2016 M/S CHANDRA & SONS 3 NAME AND ADDRESSES OF THE DEBTORS ALONG WITH THEIR CONFIRMATIONS. SHE FURNISHED ONLY THE LIST OF THE DEBTORS. ADDRESSES OF THE DEBTORS AND CONFIRMATIONS WERE NOT FILED. FROM THE ABOVE IT IS CLEAR THAT SHE HAD FAILED TO FURNISH THE SOURCE OF CASH DEPOSIT OF RS.2,00,000/-. THEREFORE, THE ADDITION MADE BY THE A.O. AMOUNTING TO RS.2,00,000/- IS CONFIRMED. THEREFORE, THE APPEAL ON THIS GROUND IS DISMISSED. NOW THE ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL. 2. WE HAVE CONSIDERED THE SUBMISSIONS OF BOTH THE SI DES. DURING THE COURSE OF HEARING, THE LEARNED COUNSEL FOR THE ASSESSEE WAS ASKED TO EXPLAIN WHY SMT. REKHA RAMLANI HAS NOT GIVEN SPECIFIC DETAILS REGARDING DEBTORS FROM WHOM SHE HAS RECEIVED THE AMOUNT OF RS.2 LACS. THE LEARNED COUNSEL FOR THE ASSESSEE WAS ASKED WHY YOU HAVE NOT GIV EN THE ADDRESS OF THE DEBTORS WHICH IS IN THE PAPER BOO K AT ITA 831/IND/2016 M/S CHANDRA & SONS 4 PAGE 35. WE REPRODUCE THE DEBTORS LIST WHICH WAS PROD UCED BEFORE THE ASSESSING OFFICER :- S.NO. NAME AMOUNT RS. 1. ANIL GUPTA 15500/ - 2 TARA GUPTA 16000/ - 3 SHWETA GUPTA 18500/ - 4 SANDEEP TALOTIYA 17000/ - 5 LILA RAMCHANDANI 18500/ - 6 PRATAP ANJANA 19500/ - 7 DINESH VERMA 18000/ - 8 DINESH CHORASIA 19500/ - 9 SUNIL RAMI 17500/ - 10 UMESH BANJARA 18500/ - 11 JAIKUMAR ANAND 10500/ - 12 NARAYAN KUSHWAH 11000/ - WE HAVE GONE THROUGH THE ABOVE LIST. THE ASSESSEE HAS N OT GIVEN ANY DETAILS, THEREFORE, ONE CANNOT JUMP TO THE CONCLUSION THAT SHE HAS RECEIVED THIS AMOUNT FROM THE DEBTORS. THE ASSESSEE COULD NOT FILE THE ADDRESSES O F THE DEBTORS ALONGWITH THE CONFIRMATION. MOREOVER, THE AMOU NT ITA 831/IND/2016 M/S CHANDRA & SONS 5 OF RS. 2,00,000/- WAS DEPOSITED IN BANK ON 22.9.2011 AND CHEQUE WAS ISSUED ON 23.9.201. THEREFORE, THE ASSESSEE FAILED TO DISCHARGE THE ONUS, THEREFORE, WE, FOLLOWIN G THE JUDMENT OF THE HON'BLE GUJARAT HIGH COURT IN THE CASE OF UMESH KRISHNANI VS. ITO; 35 TAXMANN.COM 598 (GUJARAT) DISMISS THE APPEAL OF THE ASSESSEE. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS DISMISSED. THE ORDER HAS BEEN PRONOUNCED IN OPEN COURT ON 28 OCTOBER, 2016. SD/- SD/- ( ..!') (..) #$ (O.P.MEENA) (D.T.GARASIA) ACCOUNTANT MEMBER J UDICIAL MEMBER (') / DATED : 28 OCTOBER, 2016. DN/ ITA 831/IND/2016 M/S CHANDRA & SONS 6