Shri Prafulbhai @ Rohitbhai J.Shah, Surat V. The ACIT., Cent.Circle-1, Surat

MA 151/AHD/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 9576 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 21-12-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2004-2005
• Appeal Filed On: 31-07-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAHUL KUMAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AT AHMEDABAD D BENCH BEFORE: SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI T.R. MEENA , ACCOUNTANT MEMBER SHRI PRAFULBHAI @ ROHITBAHI J SHAH 8/1662, DHRU MOHOLLO, GOPIPURA, SURAT (APPELLANT) VS. ASSTT. CIT CENTRAL CIRCLE-1, MAJURA GATE, SURAT (RESPONDENT) REVENUE BY : SRI RAHUL KUMAR, SR. D.R. ASSESSEE BY : SRI URVASHI SHODHAN, A.R. DATE OF HEARING : 21-12-2012 DATE OF PRONOUNCEMENT : 21-12-2012 / ORDER PER : T.R. MEENA ACCOUNTANT MEMBER:- THE APPELLANT FILED THIS MISCELLANEOUS APPLICATION AGAINST THE ORDER PASSED IN ITA NO. 868/AHD/2007 A.Y. 04-05 ON UNACCO UNTED CASH OF RS. 7 M.A. NO. 151/AHD/2012 (ARISING OUT OF ITA NO. 868/AHD/2007) A.Y.:-2004-05 M.A. NO. 151/AHD/2012 A.Y. 2004-05 PAGE NO SRI PRAFULBHAI @ ROHITBHAI J. SHAH VS. ASSTT. CIT 2 LACS ADMITTED UNDISCLOSED INCOME U/S 132(4) OF THE I.T. ACT. THE APPELLANT CLAIMED IN MISCELLANEOUS APPLICATION (MA) THAT THIS WAS THE CASH AVAILABLE AS PER THE CASH BOOKS OF VARIOUS CONCERNS OF THE AP PLICANT REFLECTED IN THEIR BOOKS OF ACCOUNT ON WHICH BASIS RETURN FOR A.Y. 04- 05 WERE FILED. 1.1 THE APPELLANT ALSO SUBMITTED CASH BOOKS OF VAR IOUS CONCERNS EVIDENTLY SUPPORT THE CLAIM THAT THERE WAS NO DIFFE RENCE BETWEEN THE CASH IN PHYSICAL AND CASH THAT REFLECTED IN THE REGULAR BOO KS OF ACCOUNTS AS ON 24-07- 2003. THE AO MADE ADDITION OF RS. 7 LACS EVEN THEN HE HAD ADMITTED CASH AVAILABILITY AS PER BOOKS AT RS. 18,61, 705/- AND L D. CIT(A) ALSO IGNORED THESE FACTS AND CONFIRMED THE ADDITION. 1.2 THE APPELLANT ALSO SUBMITTED THAT THIS ASPECT W AS ARGUED AT THE TIME OF HEARING BEFORE THE BENCH BUT THE OBSERVATION OF THE BENCH MADE ARE NOT WITH CONSISTENT OF THE FACT I.E. THIS CASH WAS AVAILABLE AS PER THE CASH BOOK OF THE VARIOUS ENTITIES OF THE GROUP WHICH WAS EXPLAINED B EFORE THE AO. THEREFORE, THE LEARNED COUNSEL REQUESTED TO DIRECT THE AO TO V ERIFY THE FACT OF THE CASH AVAILABILITY AT THE TIME OF SEARCH AND GIVE THE CRE DIT OF CASH AVAILABLE AS PER THE CASH BOOK. LD. CIT-DR FAIRLY ACCEPTED THE FACT AND NO SERIOUS OBJECTION HAS BEEN RAISED BY HIM. 2. AFTER CONSIDERING THE MA PETITION, WE ARE OF TH E CONSIDERED VIEW THAT THIS ISSUE IS REQUIRED TO BE VERIFIED BY THE AO. T HUS, THE AO IS DIRECTED TO VERIFY THE CASH AVAILABILITY AT THE TIME OF SEARCH IF THE CONTENTION OF THE ASSESSEE IS FOUND CORRECT, THE INCOME OF THE ASSESS EE IS TO BE REVISED ACCORDINGLY. M.A. NO. 151/AHD/2012 A.Y. 2004-05 PAGE NO SRI PRAFULBHAI @ ROHITBHAI J. SHAH VS. ASSTT. CIT 3 3. IN THE RESULT, THE MA IS ALLOWED. SD/- SD/- (G.C.GUPTA) (T.R. MEENA) VICE PRESIDENT ACCOUNTANT MEMBER AHMEDABAD : DATED 21/12/2012 AK / COPY OF ORDER FORWARDED TO:- 1. / APPELLANT 2. / RESPONDENT 3. / CONCERNED CIT 4. - / CIT (A) 5. , ! , '# / DR, ITAT, AHMEDABAD 6. $% &' / GUARD FILE. BY ORDER/ , ( / ' ) ! , '#