Manojranjan Nayak, Bhubaneswar V. ACIT, Bhubaneswar

MA 1/CTK/2013

• Counselvise Citation: [2013] 123 COUNSELVISE.COM (IT) 9850 (ITAT-CUTTACK)
• Duration Of Justice: 16 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-01-2013
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 08-01-2013
• Court: TRIBUNAL
• Keywords: Unexplained investment

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK ( ) BEFORE . . , , HONBLE SHRI K.K.GUPTA, ACCOUNTANT MEMBER. /AND . . . , H ONBLE SHRI K.S.S.PRASAD RAO, JUDICIAL MEMBER MISC.APPLICATION NO.01/CTK/2013 IN / I.T.A.NO. 529,530 AND 531/CTK/2012 C.O.NO.40/CTK/2012 ( BY ASSESSEE FOR A.Y.2006 - 07 ) ORDER DT.04.01.2013 / ASSESSMENT YEARS 2004 - 05, 2005 - 06 AN D 2006 - 07 ASST.COMMISSIONER OF INCOME - TAX, CIRCLE 1(2), BHUBANESWAR. - - - VERSUS - MANOJ RANJAN NAYAK, PLOT NO.224, DHARMA VIHAR, KHANDAGIRI, BHUBANESWAR PAN: AAWPON 6280 B ( /APPELLANT ) ( / RESPONDENT ) / FOR THE APPELLANT : / SHRI G.NAI K/R.KAR, ARS / FOR THE RESPONDENT: / SMT. PARAMITA TRIPATHY, CIT - DR / DATE OF HEARING: 21.01.2013 / DATE OF PRONOUNCEMENT: 24.01.2013 / ORDER . . . , SHRI K.S.S.PRASAD RAO, JUDICIAL MEMBER . IN THIS MISC. APPLICATION THE ASSESSEE HAS POINTED OUT THAT THE ISSUE RELATING TO THE ADDITION OF 10,94,229 MADE ON ACCOUNT OF UNEXPLAINED INVESTMENT IN JEWELLERY BUT THE IN THE ORIGINAL ORDER IT HAS BEEN MENTIONED AS UNEXPLAINED DEPOSITS. THEREFORE, THE WORDS UNEXPLAINED DEPOSITS ARE TO BE SUBSTITUTED BY THE WORDS INVESTMENT IN JEWELLERY. HOWEVER, IN THE NEXT PARAGRAPH THERE IS ADJUDICATION OF ONLY UNEXPLAINED INVESTMENT IN HOUSE PROPERTY. THE REFORE, THE ISSUE REGARDING UNEXPLAINED INVESTMENT IN JEWELLERY LEFT UN - ADJUDICATED IN THE ORIGINAL ORDER. ON GOING THROUGH THE ORDER DT.4.1.2013 WE FIND THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE AS CORRECT. HENCE, THE PETITION OF THE ASSESSE E IS ALLOWED. M.A. NO.01/CTK/2013 2 2. THE ADJUDICATION OF THE ISSUE IS MADE HEREUNDER SUBSTITUTING PARAGRAPHS 4.1 AND 4.2 IN THE ORDER DT.4.1.2013 BY THE FOLLOWING PARAGRAPH. 4.1 . ON CAREFUL CONSIDERATION OF THE IMPUGNED ORDER PASSED BY THE LEARNED CIT(A) IT IS NOTICED THAT THE LEARNED CIT(A) HAS DELETED THE ADDITION MADE BY THE ASSESSING OFFICER IN P A RA GRAPHS 5 ONWARDS IN ITS IMPUGNED ORDER. THE LEARNED CIT(A) HAS FOUND THAT AFTER PERUSING THE DETAILS OF THE JEWELLERY ITEMS THAT WERE FOUND DURING THE SEARCH PROCEEDINGS WHICH ARE NECKLACE, MANGALSUTRA, BANGLES, JHUMKA, BALI AND CHUD FOR PERSONAL USE OF A FEMALE. IT WAS CLAIMED BY THE ASSESSEE THAT THEY ARE BELONGED TO HIS WIFE SMT. SASWATI DAS HAVING BEEN RECEIVED AT THE TIME OF HER MARRIAGE AND ONLY A SMALL PART BELONGS TO TH E ASSESSEE. CONSIDERING THE CUSTOMARY AND SOCIAL STATUS OF THE ASSESSEE, THE LEARNED CIT(A) FOUND THAT THE SMALL AMOUNT OF JEWELLERY BELONGED TO THE ASSESSEE IS NORMAL AND DOES NOT CALL FOR ADDITION. HE FURTHER FOUND THAT THE OTHER DETAILED JEWELLERY FOUN D DURING THE SEARCH PERIOD HAVE BEEN ACCEPTED IN THE WEALTH TAX ORDER DT.3.4.2009 PASSED U/S.16(7) IN CASE OF THE ASSESSEE TO THE EFFECT THAT THOSE ITEMS BELONG TO THE WIFE OF THE ASSESSEE. ACCORDINGLY, THEY WERE EXCLUDED FROM THE ASSESSMENT OF WEALTH TAX IN THE CASE OF THE ASSESSEE . SINCE THESE TWO ARE CORROBORATED, THE LEARNED CIT(A) HAS DELETED THE SAID ADDITION. ON CAREFUL ANALYSIS OF THE DECISION GIVEN BY THE LEARNED CIT(A), WE FIND THAT THE SAID DECISION IS BASED ON DOCUMENTARY EVIDENCE SUCH AS WEALTH TAX ORDER, WHICH IS ISSUED BY THE DEPARTMENT M.A. NO.01/CTK/2013 3 ITSELF AND HENCE, WE ARE OF THE CONSIDERED VIEW THAT THE CIT(A)S FINDING IS NOT INFIRM IN ANY WAY AND HENCE, THE SAME IS HEREBY UPHELD AND THE GROUND RAISED BY THE REVENUE IN THIS REGARD IS DISMISSED ON FINDING THE SAME AS DEVOID OF MERIT. THE ORDER DT.4.1.2013 SHALL BE READ ACCORDINGLY. 2. IN THE RESULT, THE MISC. APPLICATION FILED BY THE ASSESSEE IS ALLOWED. SD/ - SD/ - ( . . ) , , (K.K.GUPTA), ACCOUNTANT MEMBER. ( . . . ) , (K.S.S.PRASAD RAO), JUDICIAL MEMBER ( ) DATE: 24.01.2013 - COPY OF THE ORDER FORWA RDED TO: 1 . / THE APPELLANT : ASST.COMMISSIONER OF INCOME - TAX, CIRCLE 1(2), BHUBANESWAR. 2 / THE RESPONDENT: MANOJ RANJAN NAYAK, PLOT NO.224, DHARMA VIHAR, KHANDAGIRI, BHUBANESWAR. 3 . / THE CIT, 4 . ( )/ THE CIT(A), 5 . / DR, CUTTACK BENCH 6 . GUARD FILE . / TRUE COPY, / BY ORDER, APPENDIX XVII SEAL TO BE AFFIXED ON THE ORDER SHEET BY THE SR. P.S./P.S. AFTER DICTATION IS GIVEN 1 . DATE OF DICTATION 21.01.2013 . 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 23. .01.2013 OTHER MEMBER . 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P.S./P.S. 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT.... 5. DATE ON WHICH THE FAIR ORDER C OMES BACK TO THE SR. P.S./P.S . 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 24.01.2013 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK .. 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER ................ 9. DATE OF DESPATCH OF THE ORDER .. ( ), (H.K.PADHEE), SENIOR.PRIVATE SECRETARY.