Smt. Sunita Sharma, JODHPUR V. ACIT, JODHPUR

ITA 96/JODH/2015

• Counselvise Citation: 9623314 RSA 2015
• Duration Of Justice: 5 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-09-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 25-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S L MAURYA
• Assessee Lawyers: AMIT KOTH ARI
• Keywords: Onus to prove
• Section: 234B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR BEFORE SHRI G.C. GUPTA, HONBLE VICE PRESIDENT AND SHRI R.C. SHARMA, HON'BLE ACCOUNTANT MEMBER ITA NO.96/JODH/2015 ASSESSMENT YEAR : 2010-11 SMT. SUNITA SHARMA, HOUSE NO.221-222, SHYAM NAGAR SCHEME, DEV NAGAR, PAL LINK ROAD, JODHPUR. PAN : AVGPS9795R. VS. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI AMIT KOTHARI, CA. RESPONDENT BY : SHRI S.L. MAURYA, D.R. DATE OF HEARING : 31.08.2015 DATE OF PRONOUNCEMENT: 04.09.2015 ORDER PER G.C. GUPTA, VICE PRESIDENT : THIS APPEAL BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2010-11 IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-I, JAIPUR DATED 17 TH FEBRUARY, 2015. 2. THE GROUNDS OF APPEAL OF THE ASSESSEE ARE AS UNDER:- 1. THE LEARNED CIT(A) HAS ERRED IN SUSTAINING AN ADDITION OF RS.3,50,000/- OUT OF THE UNSECURED LOAN TAKEN FROM SMT. SHANTI DEVI BALAD. THE LEARNED CIT(A) OUGHT TO HAVE ACCEPTED THE APPELLANTS CONTENTION THAT THE ONUS TO PROVE THE GENUINENESS OF THE UNSECURED LOAN WAS FULLY DISCHARGED BY THE ASSESSEE. THE ADDITION OF RS.3,50,000/- OUT OF TOTAL UNSECURED LOAN OF RS.53,50,000/- TAKEN FROM SMT. SHANTI DEVI BALAD IS PATENTLY WRONG AND ILLEGAL. ITA-96/JODH/2015 2 2. WITHOUT PREJUDICE TO THE AFORESAID GROUND, THE LEARNED CIT(A) OUGHT TO HAVE ACCEPTED THE APPELLANTS CONTENTION THAT ADDITIONAL INCOME ALREADY OFFERED BY THE APPELLANT IN THE RETURN FILED PURSUANT TO SUCH PROCEEDINGS, ADEQUATELY COVER ANY OTHER ADDITION MADE BY THE AO. THE BENEFIT OF TELESCOPING OF THE INCOME SURRENDERED DURING SEARCH AND IN THE RETURN OF INCOME OUGHT TO HAVE BEEN ALLOWED BY THE CIT(A) FOR DELETING THE ADDITION OF RS.3,50,000/- MENTIONED IN GROUND NO.1. 3. THAT THE LEARNED CIT(A) OUGHT TO HAVE DELETED THE LEVY OF INTEREST U/S 234A, 234B AND 234C INSTEAD OF DIRECTING THE AO TO GRANT CONSEQUENTIAL RELIEF. 3. LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ADDITION OF UNS ECURED LOAN OF RS.50 LAKHS FROM SMT. SHANTI DEVI BALAD WAS DELETED BY T HE LEARNED CIT(A) AND STILL THE ADDITION OF INTEREST OF RS.3.50 LAKHS THEREON WAS CONFIRMED BY THE LEARNED CIT(A). HE SUBMITTED THAT SINCE THE ADDITION OF UNSEC URED LOAN ITSELF HAS BEEN DELETED BY THE LEARNED CIT(A) AND THE REVENUE HAS NOT PREFERRED ANY APPEAL AGAINST THE ORDER OF LEARNED CIT(A), THERE REMAINS NO BASIS FOR SUSTAINING THE ADDITION OF RS.3.50 LAKHS FOR INTEREST THEREON. 4. LEARNED DR COULD NOT CONTROVERT THE SUBMISSIONS OF THE LEARNED COUNS EL FOR THE ASSESSEE AND HAS RELIED ON THE ORDER OF THE ASSESSING OFFICER AND THE LEARNED CIT(A). 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND HAVE PERUSED THE ORDER OF THE ASSESSING OFFICER AND THE LEARNED CIT(A). WE FIND THAT THE LE ARNED CIT(A) HAS DELETED THE ADDITION OF RS.50 LAKHS PERTAINING TO UNSECURED LOAN FROM SMT. SHANTI DEVI BALAD. HOWEVER, THE INTEREST PERTAINING TO THIS ENTRY OF RS .3.50 LAKHS WAS SUSTAINED BY THE CIT(A). WE FIND THAT THE REVENUE COULD NOT CONTROVERT THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE THAT THE REVE NUE HAS NOT PREFERRED ANY APPEAL AGAINST THE ORDER OF THE CIT(A) DELETING THE ADDITION TO THE CREDIT ENTRY OF RS.50 LAKHS IN THE NAME OF SMT. SHANTI DEVI BALAD. IN THESE FACTS OF THE CASE, WE ARE OF THE VIEW THAT SINCE THE ADDITION ITSELF O N ACCOUNT OF ITA-96/JODH/2015 3 UNSECURED LOAN OF SMT. SHANTI DEVI BALAD HAS BEEN DELETED, THERE REMAINS NO BASIS FOR MAKING ANY ADDITION ON ACCOUNT OF INTEREST PERTAINING TO THE SAM E AND, ACCORDINGLY, THE ADDITION OF RS.3.50 LAKHS IS DELETED AND THE GROUNDS OF APPEAL OF THE ASSESSEE ARE ALLOWED. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED. DECISION PRONOUNCED IN THE OPEN COURT ON 04.09.2015. SD/- SD/- (R.C. SHARMA) (G.C. GUPTA) ACCOUNTANT MEMBER VICE PRESIDENT VK. COPY FORWARDED TO: - 1. APPELLANT : SMT. SUNITA SHARMA, HOUSE NO.221-222, SHYAM NAGAR SCHEME, DEV NAGAR, PAL LINK ROAD, JODHPUR. 2. RESPONDENT : ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR