Appeal Details
Counselvise Citation
[2010] 124 COUNSELVISE.COM (IT) 9502 (ITAT-BANGALORE)
Assessee PAN
Bench
Appeal Number
CRN Number
Duration Of Justice
1 year(s) 8 month(s) 17 day(s)
Appellant
Respondent
Appeal Type
Income Tax (Search & Seizure) Appeal
Pronouncement Date
11-03-2010
Appeal Filed By
Department
Order Result
Partly Allowed
Bench Allotted
A
Next Hearing Date
02-03-2010
Assessment Year
misc
Appeal Filed On
24-06-2008
Judgement Text
THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH A BEFORE DR. O.K NARAYANAN, VICE PRESIDENT AND SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER IT(SS)A NO.53 /BANG/ 2008 (BLOCK ASST. YEAR -1.4.1997 TO 3.4.2003) THE DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(2), BANGALORE-560 001. . APPELLANT VS. SHRI K PALANISWAMY, PARTNER IN M/S KAYPEE EXPORTERS, 1147, 12 TH MAIN ROAD, 2 ND B MAIN, HAL II STAGE, INDIRANAGAR, BANGALORE-560 008. . RESPONDENT APPELLANT BY : SMT. JACINTA ZIMIK VASHAI, ADDL. COMMISSIONER OF INCOME-T AX RESPONDENT BY : SHRI NARENDRA SHARMA, ADVOCATE O R D E R PER DR. O.K NARAYANAN, VICE PRESIDENT THIS APPEAL IS FILED BY THE REVENUE. THIS IS A BL OCK ASSESSMENT APPEAL. THIS APPEAL IS DIRECTED AGAINST THE COMMON ORDER OF THE CIT(A)-VI AT BANGALORE DATED 26.03.2008 AND ARISES OUT OF BLOCK ASSESSMENT COMPLETED U/S 143(3) READ WITH SEC. 158B C OF THE INCOME- TAX ACT 1961. IT(SS)A NO.53/B/08 2 2. THE ONLY GROUND RAISED BY THE REVENUE IS THAT TH E CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.3,72,470/- MAD E BY THE ASSESSING OFFICER IN THE BLOCK ASSESSMENT IN RESPECT OF GOLD JEWELLERY. 3. FOLLOWING THE ORDER PASSED IN THE CASE OF SMT. V. JEYANTHI, WE RESTORE THE ADDITION TO THE EXTENT OF RS.1 LAKH AND PARTLY ALLOW THE APPEAL FILED BY THE REVENUE. 3. IN RESULT, THE APPEAL FILED BY THE REVENUE IS PA RTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON TUESDAY, THE 2ND DAY OF M ARCH, 2010, AT BANGALORE. SD/- SD/- (SHAILENDRA KUMAR YADAV) (DR. O.K NARAYA NAN) JUDICIAL MEMBER VICE PR ESIDENT VMS. COPY TO : 1. THE ASSESSEE 2. THE REVENUE 3.THE CIT CONCERNED. 4.THE CIT(A) CONCERNED. 5.DR 6.GF 7..GF, ITAT, NEW DELHI. BY ORD ER ASST. REGISTRAR, ITAT , BANGALORE. IT(SS)A NO.53/B/08 3
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