Shri Kapil Garg, Indore V. The ITO 3(2), Indore

ITA 839/Ind/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 8040 (ITAT-INDORE)
• Duration Of Justice: 1 year(s) 2 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 17-10-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: V J BORICHA
• Assessee Lawyers: C P RAWKA

Judgement Text

SMC KAPIL GARG ITA 839 OF 2018 1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE SMC BENCH, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER ITA NO.839/IND/2018 A.Y. 2009-10 KAPIL GARG, INDORE PAN ACHPG 3102 C :: APPELLANT VS ITO-3(2), INDORE :: RESPONDENT ASSESSEE BY SHRI C.P. RAWKA, CA RESPONDENT BY SHRI V.J. BORICHA, SR. DR DATE OF HEARING 15.1.2020 DATE OF PRONOUNCEMENT 16.1.2020 O R D E R THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE O RDER OF LD. CIT(A)-III, INDORE DATED 31.8.2018 FOR THE ASSESSME NT YEAR 2009- 10. AT THE OUTSET OF HEARING, LEARNED COUNSEL FOR T HE ASSESSEE DID NOT PRESS LAST GROUND I.E. GROUND NO.2 WITH REGARD TO DISALLOWANCE SMC KAPIL GARG ITA 839 OF 2018 2 ON ACCOUNT OF PERSONAL EXPENSES OF RS.35,000/-, THE REFORE, THE SAME IS DISMISSED AS NOT PRESSED. 2. NOW, THE ONLY EFFECTIVE GROUND RAISED BY THE ASS ESSEE IS THAT THE LD. CIT(A) HAS ERRED IN CONFIRMING THE ADDITION OF RS.7,18,400/- MADE BY THE ASSESSING OFFICER ON ACCOUNT OF UNSECUR ED LOAN. FACTS GIVING RISE TO THE GROUND OF APPEAL ARE THAT THE RETURN OF INCOME OF RS.3,90,920/- WAS FILED AND THE ASSESSING OFFICER COMPLETED THE ASSESSMENT AT RS.11,44,320/- MAKING A DDITION OF RS.7,18,400/- ON ACCOUNT OF UNSECURED LOANS OF RS.5 LAKHS AND RS.2,18,400/- TAKEN FROM SHRI SUSHIL PUROSHOTAM DAS AND SHRI SOHAIL KHAN, RESPECTIVELY. THE ASSESSEE WENT IN APP EAL AND THE LD. CIT(A) CONFIRMED THE ACTION OF THE ASSESSING OF FICER. THUS, THE ASSESSEE IS BEFORE THIS TRIBUNAL. 3. BEFORE ME, LEARNED COUNSEL FOR THE ASSESSEE HAS REITERATED THE SUBMISSION MADE BEFORE THE AUTHORITIES BELOW AN D SUBMITTED THAT PAN AND ADDRESS OF SHRI SUSHIL CHANDRA PURSHOT TAM DAS AND ADDRESS OF SHRI SOHAIL KHAN WAS PROVIDED. MOREO VER, THESE SMC KAPIL GARG ITA 839 OF 2018 3 LOANS PERTAIN TO PREVIOUS ASSESSMENT YEAR I.E. 2008 -09 AS IS EVIDENT FROM CHEQUES AND BANK STATEMENTS AND BALANC E SHEET FILED BEFORE REVENUE AUTHORITIES. THE STATEMENT ALS O REFLECTS THE PLACE WHEREFROM THE AMOUNT IS RECEIVED. THEREFORE, THE ASSESSEE HAS EXPLAINED THE CREDIT OF UNSECURED LOANS AND THE ADDITION IS UNJUSTIFIED. ON THE OTHER HAND, LD. SR. DR RELIED O N THE ORDERS OF THE REVENUE AUTHORITIES BUT COULD NOT CONTROVERT TH E SUBMISSION OF THE ASSESSEE BY BRINGING ANY CONTRARY MATERIAL O N RECORD. 4. I HAVE CONSIDERED THE RIVAL SUBMISSIONS OF BOTH THE PARTIES AND GONE THROUGH THE MATERIAL AVAILABLE ON THE FILE . ON CONSIDERATION OF ABOVE FACTS, I FIND THAT THE AMOUN T OF LOANS FROM THE CONCERNED PARTIES WAS RECEIVED IN THE PREVIOUS YEAR AND THE ASSESSEE HAD ALSO PROVIDED THE REQUISITE EVIDENCE L IKE PAN/ADDRESSES/BANK STATEMENTS/BALANCE SHEET ETC. IN SUPPORT OF THE CONTENTION, THEREFORE, THE ASSESSEE HAD DULY DI SCHARGED HIS ONUS. BUT THE REVENUE AUTHORITIES FAILED TO CONSIDE R THE SAME. THEREFORE, LOOKING TO THESE FACTS, I DIRECT THE ASS ESSING OFFICER TO SMC KAPIL GARG ITA 839 OF 2018 4 DELETE THE ADDITION OF RS.7,18,400/-. ACCORDINGLY, THE ONLY EFFECTIVE GROUND NO.1 RAISED BY THE ASSESSEE IS ALL OWED. 5. IN RESULT, THE APPEAL OF THE ASSESSEE IS PARTLY ALLOWED. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 16.1.2020 . SD/- (KUL BHARAT) JUDICIAL MEMBER DATED : 16.1.2020 ! VYAS ! COPY TO: APPELLANT/RESPONDENT/PR.CIT(A)/PR.CIT/DR, INDORE