Vilas Alias Raju Shrawan Chaudhari, Jalgaon V. Income-tax Officer, Ward - 2(5), Jalgaon

MA 246/PUN/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 0049 (ITAT-PUNE)
• Duration Of Justice: 11 month(s) 17 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-08-2024
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: A
• Next Hearing Date: 18-07-2024
• Assessment Year: 2013-2014
• Appeal Filed On: 27-08-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SUHAS BORA LD.
• Keywords: Unexplained investment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, PUNE ‘A’ BENCH, PUNE ITAT-Pune Page 1 of 2 BEFORE HON’BLE SMT ASTHA CHANDRA, JUDICIAL MEMBER AND SHRI G. D. PADMAHSHALI, ACCOUNTANT MEMBER आयकर अपऩल स ं . / MA No. 246/PUN/2023 (Arising out of ITA No. 1711/PUN/2017 निर्धारण वषा / Assessment Year : 2013-14 Vilas Alias Raju Shrawan Chaudhari, Ashta Vinayak Nagar, Savda Rd., Raver, Jalgaon -425 502. PAN: AFIPC3875N . . . . . . . अपऩलधर्थी / Applicant बिधम / V/s Income Tax Officer, Ward - 2(5), Jalgaon . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee by: Mr Suhas Bora [‘Ld. AR’] Revenue by : Mr Ramnath Murkunde [‘Ld. DR’] स ु नवाई की तारीख / Date of conclusive Hearing : 19/07/2024 घोषणा की तारीख / Date of Pronouncement : 14/08/2024 आदेश / ORDER PER G. D. PADMAHSHALI, AM; By the present Miscellaneous Application [for short ‘MA’] the assessee sought our indulgence for rectifying the mistake in the order of this Tribunal passed u/s 254(1) of the Income Tax Act [for short ‘the Act’] partly allowing the appeal of the assessee in ITA No. 1711/PUN/2017 for the assessment year 2013-14. 2. We have heard the rival submission; and subject to the provisions of rule 18 of Income Tax Appellate Tribunal Rules, 1963 [for short ‘ITAT, Rules’] perused the material placed on records. By main appeal the assessee challenged the assessment on effective three grounds viz; (a) addition on account of unexplained investment [G 1&2] (b) non exclusion of amount advanced [G-3&3.1] and (c) Part denial of agricultural income as source [G-4&5]. The former first two grounds (a) & (b) of Vilas Alias Raju Shrawan Chaudhari, MA No. 246/PUN/2023 (Arising out of ITA No. 1711/PUN/2017) ITAT-Pune Page 2 of 2 appeal were adjudicated on merits against the assessee and whereas the last ground (c) relating to source of agricultural income available was partly allowed. 3. We note that, while framing an assessment, the Ld. AO allowed 50% of total transaction value as cash source available to the assessee out of agriculture income. In first appeal the Ld. CIT(A) enhanced above source available with assessee to 75% i.e. ₹36.75Lakhs, in further appeal, the Tribunal allowed 100% i.e. ₹49.00Lakhs as source of available against total unexplained investment brought to tax. Since the adjudication of ground number 5 in favour of the assessee had an effect of cash balance available against addition made for unexplained investment, therefore to the extent of relief granted was remained to be taken into consideration while dismissing the ground number 4 of main appeal. 4. The transient mistake apparent on the face of the record necessitates correction without undertaking any inquiry thereunto, is hereby corrected as; ‘in effect the ground number 4 raised in the main appeal stands partly allowed for ₹12.25Lakhs [₹49.00Lakhs- 36.75Lakhs]’. 5. In result, MA of the assessee stands partly allowed in aforestated terms. In terms of rule 34 of ITAT Rules, the order pronounced in the open court on this Wednesday 14th day of August, 2024. -S/d- -S/d- ASTHA CHANDRA G. D. PADMAHSHALI JUDICIAL MEMBER ACCOUNTANT MEMBER प ु णे / PUNE ; ददना ां क / Dated : 14th day of August, 2024. आदेश की प्रनिनलनप अग्रेनषि / Copy of the Order forwarded to : 1.अपीलाथी / The Appellant. 2. प्रत्यथी / The Respondent. 3. The CIT(A)-Concerned. 4. The Pr.CIT-Concerned. 5. DR, ITAT, Bench ‘A’, Pune 6. गार्डफ़ाइल / Guard File. आदेशान ु सार / By Order वररष्ठ दनजी सदिव / Sr. Private Secretary आयकर अपीलीय न्यायादधकरण, प ु णे / ITAT, Pune.