Gautamchand W. Bafna., Hubli V. The Assistant Commissioner of Income Tax, Circle-1, Belgaum., Belgaum

MA 9/PAN/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4811 (ITAT-PANAJI)
• Duration Of Justice: 6 month(s) 1 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-09-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Next Hearing Date: 23-09-2016
• Assessment Year: 2005-2006
• Appeal Filed On: 22-03-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAVIRAJ Y V
• Assessee Lawyers: MANOJ D PUKALE
• Keywords: Revised return

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI , HONBLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HONBLE JUDICIAL MEMBER M.A.NO. 09/PAN/2016 ( ITA NO. 260 /P A N/201 4) (ASST. YEAR : 20 05 - 06 ) GAUTAMCHAND W. BAFNA , S/O WAGAMAL BAFNA, BAFNA NIWAS, DESHPANDE NAGAR, HUBLI (KARNATAKA) VS. A CIT, CENTRAL CIRCLE - 1, BELGAUM PAN NO. ACKPB 4315 R (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI MANOJ D. PUKAL E ADV. DEPARTMENT BY : SHRI RAVIRAJ Y.V. - DR DATE OF HEARING : 23/ 0 9 /201 6 . DATE OF PRONOUNCEMENT : 23 / 0 9 /201 6 . O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER THIS IS A MISC. APPLICATION FILED BY THE ASSESSEE AGAINST THE ORDER OF THE TRIBUNAL IN ITA NO. 260/PNJ/2014 , DATED 15/06/2015 FOR THE ASSESSMENT YEAR 2005 - 06 . 2. SHRI MANOJ D. PUKALE, ADVOCATE REPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI RAVIRAJ Y.V., STANDING COUNSEL REPRESENTED ON BEHALF OF THE REVENUE. 3 . IT WAS SUBMITTED BY THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE THAT THE ISSUE RELATES TO THE BANK ACCOUNT NO. 70647 WITH AXIS BANK, HUBLI, WHICH HAS BEEN TREATED AS UNDISCLOSED. IT WAS THE 2 M A NO. 09 /P A N/201 6 SUBMISSION THAT THE SAID BANK ACCOUNT WAS NOT UNDISCLOSED , B UT WAS DISCLOSED IN THE REVISED RETURN FILED. IT WAS THE SUBMISSION THAT THE ASSESSEE IN THE REVISED RETURN HAD OFFERED 3% OF THE DEPOSITS IN THE BANK ACCOUNT AS HIS INCOME. IT WAS THE SUBMISSION THAT AS THE SAID BANK ACCOUNT WAS NOT UNDISCLOSED BANK ACCOUNT, THE ORDER OF THE TRIBUNAL WAS LIABLE TO BE RECALLED. 4 . IN REPLY, STANDING COUNSEL FOR THE REVENUE SUBMITTED THAT THE TRIBUNAL HAS CONSIDERED ALL THE FACTS WHILE PASSING THE ORDER AND HAS RESTORED THE ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR RE - ADJUDICATION. IT WAS THE SUBMISSION THAT WHAT THE ASSESSEE IS ASKING FOR IS A REVIEW OF THE ORDER OF THE TRIBUNAL, WHICH IS NOT PERMISSIBLE. IT WAS ALSO THE SUBMISSION THAT THE COUNSEL, W HO IS NO W REPRESENTING IN MISC. APPLICATION WAS NOT THE COUNSEL, WHO HAD APPEARED IN THE ORIGINAL APPEAL. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. ADMITTEDLY, THE SAID BANK ACCOUNT, WHICH WAS IN THE NAME OF ONE RAMESH , WAS NOT IN THE NAME OF THE ASSESSEE. ADMITTEDLY, THE TURNOVER AS PER THE ASSESSEE IN RESPECT OF THE SAID BANK ACCOUNT SEEMS TO HAVE BEEN OFFERED IN THE REVISED RETURN FILED. COMMISSIONER OF INCOME TAX , UNDER SECTION 263, HAD DIRECTED THE ASSESSING OFFIC ER TO VERIFY THE TRANSACTIONS IN THE SAID BANK ACCOUNT. THE TRIBUNAL HAS ALSO RESTORED THE ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR RE - ADJUDICATION WITH CERTAIN DIRECTIONS. NOW, THE QUESTION IS AS TO WHETHER THE BANK ACCOUNT IS UNDISCLOSED BANK ACC OUNT OR NOT? THE TRANSACTIONS CLEARLY HAVING NOT BEEN EXPLAINED BY THE ASSESSEE REMAINS UNDISCLOSED. THE ASSESSEE HAS BEEN UNABLE TO SUBSTANTIATE WHY THE SAID BANK ACCOUNT WAS OPENED IN THE NAME OF SHRI RAMESH. THE ASSESSEE IS UNABLE TO EXPLAIN THE TRAN SACTIONS IN THE BANK ACCOUNT WITH ANY SUBSTANTIAL EVIDENCE. THE ASSESSEE IS UNABLE TO EVEN EXPLAIN BEFORE THE TRIBUNAL, THE FUND FLOW IN THE SAID BANK ACCOUNT WITH EVIDENCE. THIS BEING SO, WE FIND NO ERROR IN THE ORDER OF THE TRIBUNAL 3 M A NO. 09 /P A N/201 6 WHICH CALLS FOR ANY RECTIFICATION . I N FACT, THE MISC. APPLICATION FILED BY THE ASSESSEE IS CLEARLY AN APPLICATION FOR REVIEW AND THIS IS NOT PERMISS I BLE UNDER SECTION 254(2) OF THE ACT. 6 . IN THE RESULT, THE MISC. APPLICATION FILED BY THE ASSESSEE STANDS DISMISSED. ORDER PRONOUNCED IN THE COURT AT THE CLOSE OF THE HEARING ON FRIDAY , THE 2 3 TH DAY OF SEPTEMBER , 201 6 AT GOA . S D / - S D / - (N.S.SAINI) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 2 3 TH SEPTEMBER , 201 6 . VR/ - COPY TO: 1 . THE ASSESSEE. GAUTAMCHAND W. BAFNA, S/O WAGAMAL BAFNA, BAFNA NIWAS, DESHPANDE NAGAR, HUBLI (KARNATAKA) 2 . THE REVENUE. A CIT, CENTRAL CIRCLE - 1, BELGAUM 3 . THE CIT, KARNATAKA (CENTRAL), BANGALORE. 4 . THE CIT(A) - VI, BANGALORE. 5 . THE D.R . 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI