ADIT(IT-1(1), Kolkata, Kolkata V. Mr. Chandra Shekhar Agarwal, Kolkata

ITA 985/KOL/2012

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 8043 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-11-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 20-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S JHAJHARIA
• Section: 143(3); 154

Judgement Text

I.T.A. NO.985/ KOL. / 2012 & C .O. NO. 66/KOL./2012 (I N ITA NO. 985/KOL./2012) ASSESSMENT YEAR : 2008-09 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI PRAMOD KUMAR (ACCOUNTANT MEMBER), AND SHRI MAHAVIR SINGH (JUDICIAL MEMBER) I.T.A. NO.: 985/ KOL. / 2012 ASSESSMENT YEAR : 2008-09 ASSISTANT DIRECTOR OF INCOME TAX (INT. TAXN.)-1(1) ...APPELLANT KOLKATA, ROOM NO. 17, 4 TH FLOOR, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- MR. CHANDRTA SHEKHAR AGARWAL,...,....RESP ONDENT, FLAT NO. 5A, 10, GURUSADAY ROAD, KOLKATA-700 019 [PAN :AJOPA 3453 G), & C.O. NO.66/KOL./2012 (ARISING OUT OF I.T.A. NO. 985/KOL./2012) ASSESSMENT YEAR : 2008-2009 CHANDRA SEKHAR AGARWAL, -VS.- ASSISTANT DIR ECTOR OF INCOME TAX, KOLKATA (INT. TAXN.)-1(1),KOLKATA (CROSS OBJECTOR) (RESPONDENT) APPEARANCES BY: SANJAY KUMAR CIT(D.R.), FOR THE DEPARTMENT S. JHAJHARIA, A.R. FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : NOVEMBER 7, 2012 DATE OF PRONOUNCING THE ORDER : NOVEMBER 7, 2012 I.T.A. NO.985/ KOL. / 2012 & C .O. NO. 66/KOL./2012 (I N ITA NO. 985/KOL./2012) ASSESSMENT YEAR : 2008-09 PAGE 2 OF 3 O R D E R PER PRAMOD KUMAR: 1. BY WAY OF THIS APPEAL, THE APPELLANT ASSESSING O FFICER HAS CHALLENGED CORRECTNESS OF LEARNED COMMISSIONER OF I NCOME TAX (APPEALS)S ORDER DATED 30 TH MARCH, 2012, IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961, F OR THE ASSESSMENT YEAR 2008-09 ON THE FOLLOWING GROUNDS :- (1) WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE C ASE, THE LD. CIT(A) WAS JUSTIFIED IN HOLDING THAT OUT OF THE AMOUNT OF RS.98,37,333/- BROUGHT INTO INDIA BY THE ASSESSE E FOR THE PURPOSE OF INVESTMENT, THE SOURCE OF RS.93,23,898/- HAS BEEN EXPLAINED BY THE ASSESSEE, WHILE IN REALITY THE AMO UNT TOTALS TO ONLY RS.80,37,333/-? (2) WHETHER ON THE FACTS AND CIRCUMSTANCES OF THE C ASE, THE LD. CIT(A) WAS JUSTIFIED IN ALLOWING EXCESS RELIEF TO THE ASSESSEE TO THE TUNE OF RS.18,00,000/- IN THE ABSEN CE OF ANY EVIDENCE REGARDING THE SOURCE OF SUCH MONEY? 2. SHRI SANJAY KUMAR, LEARNED DIT(INTERNATIONAL TAX ATION), APPEARED BEFORE US TO SUBMIT THAT THE APPEAL WAS FI LED AS THERE WAS SOME MISTAKE IN APPRECIATION OF FACTS BY THE CIT(AP PEALS). HOWEVER, NOW THAT THE CIT(APPEALS), VIDE HIS RECTIFICATION O RDER DATED 29 TH AUGUST, 2012 PASSED U/S. 154 OF THE INCOME TAX ACT, HAS SET THE FACTS RIGHT AND CORRECTED, WHAT HAS BEEN DESCRIBED AS, T YPOGRAPHICAL ERROR, HE DOES NOT WISH TO PURSUE THE MATTER FURTHER AND A BANDON THIS APPEAL. IT WAS THUS SUBMITTED THAT THE APPEAL MAY BE TREATE D AS WITHDRAWN. 3. SHRI JHAJHARIA, LEARNED COUNSEL FOR THE ASSESSEE , SUBMITS THAT HE DOES NOT HAVE ANY OBJECTION TO THE COURSE SUGGESTED BY THE LEARNED I.T.A. NO.985/ KOL. / 2012 & C .O. NO. 66/KOL./2012 (I N ITA NO. 985/KOL./2012) ASSESSMENT YEAR : 2008-09 PAGE 3 OF 3 DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION). HE ALSO WITHDRAWS HIS ADJOURNMENT PETITION. 4. FOR THE REASONS SET OUT ABOVE, WE CONSIDER IT AP PROPRIATE TO DISMISS THIS APPEAL AS WITHDRAWN. 5. IN THE RESULT, REVENUES APPEAL STANDS DISMISSED . 6. THE ASSESSEE HAS ALSO FILED A CROSS OBJECTION BU T LD. COUNSEL FOR THE ASSESSEE STATES THAT HE DOES NOT WISH TO PURSUE IT. ACCORDINGLY, THE C.O. IS ALSO DISMISSED AS WITHDRAWN. 7. IN THE RESULT, CROSS OBJECTION IS ALSO DISMISSED . TO SUM UP, THE APPEAL AS ALSO THE CROSS OBJECTION ARE DISMISSED. I T WAS SO PRONOUNCED IN THE OPEN COURT TODAY ON 7 TH DAY OF NOVEMBER, 2012. SD/- SD/- MAHAVIR SINGH PRAMOD KUMAR (JUDICIAL MEMBER) (ACC OUNTANT MEMBER) KOLKATA, THE 7 TH DAY OF NOVEMBER, 2012 COPIES TO : (1) THE ASSESSEE (2) THE DEPARTMENT (3) ADIT(INT. TAXN.)-1(1) (4) CIT(A) (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ETC ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.