Sri Jose Cyriac, Cochin V. DCIt, Ernakulam

MA 163/COCH/2009

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6597 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 7 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 16-06-2011
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 03-06-2011
• Assessment Year: misc
• Appeal Filed On: 09-11-2009
• Court: TRIBUNAL
• Department Lawyers: S R SENAPATISR
• Assessee Lawyers: C B M WARRIARCA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.VIJAYAKUMARAN & SHRI SANJAY ARORA M.P.NOS.163/COCH/2009 & M.P.NO.01/COCH/2010 (ARISING OUT OF I.T.(S&S)A.NO.207/COCH/2005) BLOCK PERIOD:1989-90 TO 1998-99 SHRI JOSE CYRIAC, 42/2183,SRM ROAD, ERNAKULAM, KOCHI-25. VS. THE DY. COMMISSIONER OF INCOME-TAX, CIRCLE-1(3), ERNAKULAM. ( PETITIONER ) ( RESPONDENT ) PETITIONER BY SH RI CBM WARRIAR,CA RESPONDENT BY SHRI S.R.SENAPATI,SR.DR O R D E R PER N.VIJAYAKUMARAN,J.M: BOTH THESE MISCELLANEOUS PETITIONS WERE HEARD TOGE THER AND ARE BEING DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 2. THE TRIBUNAL AT THE INSTANCE OF APPEAL BY THE RE VENUE DECIDED THE ISSUE IN I.T(S&S)A.NO.207/COCH/2005 BY REVERSING THE FINDING OF THE LD. CIT(APPEALS) AND CONSEQUENTLY THE APPEAL FILED BY THE REVENUE WAS AL LOWED. THE CONTENTION IN THESE MISCELLANEOUS PETITIONS ARE THAT THE ASSESSMENT WAS MADE ON THE BASIS OF INCREASE IN THE VALUE OF ASSET AND THE ASSESSING OFFICERS WORKING OF APP ORTIONING MP NO. 163/COCH/2009 & MP NO.01/COCH/2010 2 THE INCREASE IN VALUE OF ASSETS OUT OF THE REGULAR BOOKS OF ACCOUNTS IN THE HANDS OF THE PARTNERS AND PARTICULA RLY IN THE HANDS OF THE ASSESSEE CANNOT BE TREATED AS UNDISCLO SED INCOME WAS NOT CONSIDERED BY THE BENCH. THE BENC H WHILE DECIDING THE ISSUE HELD THAT THE DELETION OF VARIOU S ADDITIONS MADE BY THE CIT(APPEALS) PARTICULARLY WHEN THE ASSE SSING OFFICER HAS CONSIDERED THE ACCRETION TO THE WEALTH OF THE ASSESSEE YEAR-WISE RELATING TO THE BLOCK PERIOD AN D THE ASSESSING OFFICER HAS WORKED OUT THE DEFICIENCY OF FUNDS AND THE SOURCES AVAILABLE IN THE HANDS OF THE ASSESSEE AFTER ANALYZING EACH AND EVERY ASSET ACQUIRED BY THE ASSE SSEE FROM ASSESSMENT YEAR TO ASSESSMENT YEAR. HENCE THE ADDITIONS MADE BY THE AO WERE SUPPORTED BY SPEAKING MATERIALS. THEREFORE, THE TRIBUNAL WAS OF THE VIE W THAT THE ADDITIONS WERE NOT ARBITRARY AND THE EXPLANATION OF FERED BY THE ASSESSEE IN RESPECT OF SOURCES AVAILABLE WAS AL L TOO GENERAL IN NATURE. THIS OBSERVATION OF THE TRIBUNAL CLEARLY GIVES A CATEGORICAL FINDING ABOUT THE EXISTENCE OF UNDISCLOSED INCOME WHICH IS BASED ON THE RECORDS AV AILABLE. FURTHER, AGAINST THE ORDER OF THE TRIBUNAL ASSESSEE PREFERRED APPEAL TO THE HONBLE HIGH COURT IN ITA NO. 76 OF 20 10() AND THE HONBLE JURISDICTIONAL HIGH COURT ON 22 ND OCTOBER,2010 DISPOSED THE APPEAL BY OBSERVING THAT SINCE THE TRI BUNAL HAS MP NO. 163/COCH/2009 & MP NO.01/COCH/2010 3 DECIDED THE MERITS ON THE ADDITIONS IN THE ORDER CH ALLENGED IN ITA NO.76/2010, THE SAID APPEAL FILED BY THE ASS ESSEE IS DISMISSED. THUS, THE TRIBUNALS ORDER GOT MERGED W ITH THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT D ATED 22- 10-2010 IN ITA NO76 OF 2010(). THUS, THE ORDER O F THE TRIBUNAL IS CONFIRMED BY THE HONBLE JURISDICTIONAL HIGH COURT. THIS BEING THE POSITION, THE PETITIONER H AS NO LOCUS STANDI TO PREFER THESE MISCELLANEOUS PETITIONS. HE NCE, BOTH THE MISCELLANEOUS PETITIONS DESERVES TO BE DISMISSE D AND ACCORDINGLY DISMISSED. 3. IN THE RESULT, BOTH THESE MISCELLANEOUS PETITIONS A RE DISMISSED. SD/- SD/- (SANJAY ARORA) (N.VIJAYKUMARAN) ACCOUNTANT MEMBER JUDICIAL M EMBER ERNAKULAM, DATED THE 16 TH JUNE,2011. PM. COPY FORWARDED TO: 1. SHRI JOSE CYRIAC, 42/2183,SRM ROAD, ERNAKULAM, KOCH I-25. 2. THE DY. CIT., CIRCLE-1(3), ERNAKULAM. 3. CIT(A)-I, KOCHI. 4. CIT, KOCHI. 5. D.R.