Siddharth Infratech Pvt.Ltd, Jalgaon V. Assistant Commissioner of Income-tax, Central Circle -1, , Nashik

ITSSA 60/PUN/2019

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3137 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 22-08-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 15-08-2022
• Assessment Year: 2012-2013
• Appeal Filed On: 07-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: HARI KRISHAN
• Section: 143(3)

Judgement Text

आयकर अपीलीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER IT(SS)A No.60/PUN/2019 धििाारण वर्ा / Assessment Year : 2012-13 Siddharth Infratech Pvt. Ltd., 47, Ramdas Colony, Near Sagar Park, Jalgaon – 425001 PAN : AANCS1550K .......अपीलार्थी / Appellant बिाम / V/s. ACIT, Central Circle-1, Nashik ......प्रत्यर्थी / Respondent Assessee by : Shri Hari Krishan and Miss Arrchena Shetty Revenue by : Shri M.G. Jasnani सुनवाई की तारीख / Date of Hearing : 16-08-2022 घोषणा की तारीख / Date of Pronouncement : 23-08-2022 आदेश / ORDER PER S.S. GODARA, JM : This assessee’s appeal for assessment year 2012-13 arises against the CIT(A)-12, Pune’s order dated 02-09-2016 passed in case No. PN/CIT(A)-12/821/2014-15, in proceedings u/s. 143(3) r.w.s. 153B of the Income Tax Act, 1961; in short “the Act”. Heard both the parties. Case file perused. 2. It emerges at the outset that the instant lis hardly requires us to delve much deeper in the relevant factual matrix so far as the assessee’s 2 IT(SS)A No. 60/PUN/2019, A.Y. 2012-13 sole substantive grievance challenging correctness of both the learned lower authorities action making undisclosed income by way of unaccounted payment to the tune of Rs.11492000/-, is concerned. 3. Suffice to say, the impugned foregoing addition is found to be based on a loose sheet/paper No. 7 seized during the course of search dated 09- 08-2011 carried out in case(s) of M/s. Kotecha group at Jalgaon. Page 23 in assessee’s detailed paper book running into 143 pages suggests that this loose paper allegedly revealed its state of affairs as on 16-05-2011 wherein a letter addressed to “Sunil bhai” had allegedly involved “receivables from” in case of the latter. This is what has made the learned lower authorities, and more particularly, the Assessing Officer to conclude that the assessee had paid the sum total of Rs.11492000/- in issue which represents its undisclosed income. 4. We have given our thoughtful consideration to vehement rival stands against and in support of the impugned addition. There is hardly any merit found in the Revenue’s arguments that the learned lower authorities have rightly made the impugned addition. It is made clear that the foregoing seized document itself does not indicate any actual payment coming from the assessee’s side to Mr. “Sunil bhai” since the only clinching expression used therein is “receivable from”. We also deem it appropriate to quote section 292C of the Act in favour of the department that contents of such seized documents during the course of search are presumed as correct. Learned CIT-DR could not rebut the fact that even section 292C presumption negates the impugned addition which is not based on any other supportive evidence. We thus delete the impugned addition of Rs.11492000/- for this precise reason alone. All other pleadings on merits are rendered academic. 3 IT(SS)A No. 60/PUN/2019, A.Y. 2012-13 5. Learned CIT-DR at this stage sought to highlight the fact that the assessee’s instant appeal suffers from 843 days delay which has not been adequately explain in its condonation petition(s). We find no merit in Revenue’s instant technical as well in light of hon’ble Apex Court landmark decision in Collector land Acquisition Vs. MST Katiji (1987) 167 ITR 471 (SC) holding that such a limitation aspect must make way for the cause of substantial justice. The impugned delay of 843 days in filing stands condoned. 6. This assessee’s appeal is allowed in above terms. Order pronounced in the open court on 23 rd August, 2022. Sd/- Sd/- (G.D. Padmahshali) (S.S. Godara ) ACCOUNTANT MEMBER JUDICIAL MEMBER पुणे / Pune; दिनाांक / Dated : 23 rd August, 2022. रदव आदेश की प्रधिधलधप अग्रेधर्ि / Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant. 2. प्रत्यर्थी / The Respondent. 3. The CIT(A)-12, Pune 4. The Pr. CIT, Central, Nagpur 5. दवभागीय प्रदतदनदि, आयकर अपीलीय अदिकरण, “बी” बेंच, पुणे / DR, ITAT, “B” Bench, Pune. 6. गार्ड फ़ाइल / Guard File. //सत्यादपत प्रदत// True Copy// आिेशानुसार / BY ORDER, वररष्ठ दनजी सदचव / Sr. Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune