Appeal details
Counselvise Citation
[2021] 107 COUNSELVISE.COM (IT) 5525 (ITAT-HYDERABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
2 year(s) 3 month(s) 16 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
20-09-2021
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
DB-A
Next Hearing Date
02-09-2021
Assessment Year
2014-2015
Appeal Filed On
03-06-2019
Judgement Text
ITA NO.944/HYD /2019 1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S. GODARA, JUDICIAL MEMBER ITA NO.944/HYD/2019 ASSESSMENT YEAR: 2014-15 SRI CHAKRAPANI PULI, NO.2-1593/10, B.V.REDDY COLONY, PILERU, CHITTOOR DISTRICT. PAN NO.AGMPP8700 VS. THE INCOME TAX OFFICER, WARD 1(1), TIRUPATI. (APPELLANT) (RESPONDENT) ASSESSEE BY: NONE REVENUE BY : SRI M. MAHIDHAR - DR DATE OF HEARING: 02/09/2021 DATE OF PRONOUNCEMENT: 20/09/2021 ORDER PER S. S. GODARA, J.M. THIS ASSESSEES APPEAL FOR A.Y 2014-15 ARISES FROM THE CIT(A), TIRUPATIS ORDER DATED 25.04.2019, IN CASE NO.10185/2016-17/CIT(A)/TPT INVOLVING PROCEEDINGS U NDER SECTION 143(3) OF INCOME TAX ACT, 1961 (IN SHORT, THE ACT). CASE CALLED TWICE. NONE APPEARS AT THE ASSESSEES BEHEST. WE ACCORDINGLY PROCEEDED EX-PARTE. ITA NO.944/HYD /2019 2 2. WITH THE ABLE ASSISTANCE COMING FROM REVENUE SID E, WE NOTE THAT ASSESSEES TWIN SUBSTANTIVE GROUNDS RA ISED HEREIN SEEK TO REVERSE BOTH THE LOWER AUTHORITIES ACTION A DDING THE ALLEGED GIFT OF RS.14.80 LACS AND FOLLOWED BY YET A NOTHER ADDITION OF RS.2,99,500/- IN THE COURSE OF ASSESSMENT DATED 30.12.2016 AND UPHELD IN THE CIT(A)S ORDER. THE CIT(A)S DIS CUSSION QUA THE GIFT ISSUE OF RS.14,80,000/- READS AS UNDER : THE AO REJECTED THE EXPLANATION OF THE APPELLANT RE GARDING GIFT RECEIVED FROM HIS BROTHER P. MADHUSUDAN REDDY AT R S.15 LAKHS. THE APPELLANT BEFORE THE AA SUBMITTED THE BANK ACCO UNT STATEMENT -AND CONFIRMATIONS BY WAY OF AFFIDAVITS. I HAVE CAREFULLY CONSIDERED THE MATERIAL FACTS. THE DONOR BEING THE BROTHER OF APPELLANT HAS GIVEN A CONFIRMATION, WHER EIN IT WAS STATED THAT-CUT OF-TERM LOANS GRANTED, CASH WAS WIT HDRAWN AND GIFT WAS 'MADE TO THE APPELLANT. THE APPELLANT FILE D TERM LOAN ACCOUNT AND SB ACCOUNT OF THE DONOR, WHERE FROM IT ,IS SEEN THAT THE TERM LOAN WAS' SANCTIONED AND AMOUNTS WERE TRAN SFERRED FROM SB ACCOUNT, FROM THERE' PART OF THE AMOUNT WAS WITH DRAWN AND STATED TO HAVE BEEN GIVEN TO THE APPELLANT. ON PERU SAL OF THE SB ACCOUNT, IT IS NOTICED THAT THE DONOR .HAS WITHDRAW N RS.20,000/- ON 09.01.2013 EXCEPT THIS THERE IS NO CORRESPONDING WITHDRAWAL OF CASH ON THE DATES MENTIONED BY THE DONOR IN THE CON FIRMATION LETTER. ' HENCE, ONLY RS.20,000/- CAN BE TREATED AS EXPLAINED SOURCE AND FOR REST OF THE AMOUNT I.E., RS.14,80,0 00/-, THERE IS NO SOURCES AS EXPLAINED. THE FACTUAL POSITION IS NOT DIFFERENT REGARDING TH E LATTER ISSUE AS WELL SINCE THE ASSESSEE HAD FAILED TO FURN ISH ANY EVIDENCE OF SOURCE THEREOF. THE CIT(A) HAS DEALT WITH THIS ISSUE IN THE FOLLOWING MANNER : THE AO REJECTED THE EXPLANATION FOR SOURCE OF RS.2, 99,500/- DURING THE COURSE OF APPELLATE PROCEEDINGS ALSO, TH E APPELLANT HAS NOT FURNISHED ANY EVIDENCE TO SUBSTANTIATE THE SOUR CE, HENCE THE ACTION IS HEREBY CONFIRMED CONSIDERING THE ABOVE DI SCUSSION, THE APPELLANT IS GRANTED RELIEF OF RS.12,70,170/- AND T HE BALANCE AMOUNT OF RS.17,79,500/- IS CONFIRMED. THE AO IS HEREBY DIRECTED TO MODIFY THE 0RDER ACCORDINGLY. THE GROUN DS OF APPEAL RAISED ARE PARTLY ALLOWED. ITA NO.944/HYD /2019 3 4. WE HAVE GIVEN OUR THOUGHTFUL CONSIDERATION TO TH E ASSESSEES PLEADINGS AND REVENUES ARGUMENTS SUPPOR TING THE IMPUGNED ADDITIONS AND FIND NO REASON TO EXPRESS OU R CONCURRENCE WITH THE FORMER CASE AS HE HAS FAILED T O PROVE BOTH THE SOURCE OF THE GIFT AS WELL AS THE LATTER AMOUNT OF RS.2,99,500/-. THE SAME ARE ACCORDINGLY CONFIRMED. 5. THIS ASSESSEES APPEAL IS DISMISSED IN ABOVE TER MS. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH SEPTEMBER, 2021. SD/- SD/- (LAXMI PRASAD SAHU) ACCOUNTANT MEMBER (S.S. GODARA) JUDICIAL MEMBER HYDERABAD, DATED 20 TH SEPTEMBER, 2021. TYNM/SPS COPY TO: S.NO AD DR ES S ES 1 SRI CHAKRAPANI PULI, NO.2-1593/10, B.V.REDDY COL ONY, PILERU, CHITTOOR DISTRICT. 2 THE INCOME TA X OFFI CER, WARD 1(1), TIRUPATI. 3 CIT (A), TIRUPATI. 4 PR. CIT, TIRUPATI. 5 DR, ITAT HYDERABAD BE NCHES 6 GUARD FILE BY ORDER
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