Navrachana Education Society, Baroda V. The ACIT.,Cent.Circle-1, Baroda

MA 97/AHD/2010

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6120 (ITAT-AHMEDABAD)
• Duration Of Justice: 10 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 25-02-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2004-2005
• Appeal Filed On: 22-04-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S N SOPARKAR
• Keywords: Unexplained investment; Deemed to accrue or arise in india
• Section: 69C

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH AHMEDABAD BENCH AHMEDABAD BENCH AHMEDABAD BENCH D DD D BEFORE BEFORE BEFORE BEFORE SHRI SHRI SHRI SHRI T.K.SHARMA T.K.SHARMA T.K.SHARMA T.K.SHARMA, JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER AND AND AND AND SHRI N.S. SAINI, ACCOUNTANT MEMBER SHRI N.S. SAINI, ACCOUNTANT MEMBER SHRI N.S. SAINI, ACCOUNTANT MEMBER SHRI N.S. SAINI, ACCOUNTANT MEMBER DATE OF HEARING: DRAFTED ON: M.A. NO. 97 /A HD /2010 (ARISING OUT OF ITA NO.226/AHD/2008) ASSESSMENT YEAR :2004-05 NAVRACHNA EDUCATION SOCIETY, SAMA ROAD, VADODARA. VS. ASSISTANT COMMISSIONER OF INCOME TAX, CENT. CIRCLE-1, AAYAKAR BHAVAN, RACE COURSE CIRCLE, VADODARA. PAN/GIR NO. : AAATN 1262 H (A PPELLANT ) .. ( RESPONDENT ) APPELLANT BY : SHRI S.N. SOPARKAR, SR. ADV. RESPONDENT BY: SHRI K. MADHUSUDAN, D.R. O R D E R O R D E R O R D E R O R D E R PER N.S.SAINI , ACCOUNTANT MEMBER :- THIS IS A MISCELLANEOUS APPLICATION FILED BY THE AS SESSEE AGAINST THE ORDER OF THE TRIBUNAL DATED 26-3-2010 P ASSED IN ITA NO.226/AHD/2008. 2. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE ORDERS OF THE LOWER AUTHORITIES AND THE MATERIALS AVAILABL E ON RECORD. WE FIND THAT IN THE INSTANT CASE THE ISSUE INVOLVED BE FORE THE TRIBUNAL WAS IN RESPECT OF APPLICATION OF DEEMED INCOME WHIC H WAS DEEMED AS INCOME BECAUSE OF FINDING THAT INVESTMENT MADE I N PURCHASE OF LAND WAS DISCLOSED AT A LESSER AMOUNT. HOWEVER, AS THE ASSESSEE DURING THE COURSE OF HEARING RELIED UPON THE DECISI ON LANCER ARMY SCHOOL SOCIETY VS. ACIT (2004) 90 TTJ (AHD) 1024 WH EREIN THE ISSUE INVOLVED RELATED TO AN AMOUNT WHICH WAS DEEMED AS I NCOME UNDER SECTION 69C OF THE ACT, TRIBUNAL IN THE INSTANT CAS E ALSO PROCEEDED ON THAT BASIS BY ASSUMING THAT THE AMOUNT IN ISSUE WAS DEEMED AS INCOME UNDER THE PROVISIONS OF SECTION69C OF THE AC T. - 2 - 3. THE LEARNED AUTHORISED REPRESENTATIVE OF THE ASS ESSEE SUBMITTED THAT NONE OF THE LOWER AUTHORITIES HAD IN VOKED PROVISIONS OF SECTION 69C OF THE ACT IN THE INSTANT CASE TO TR EAT THE AMOUNT IN QUESTION AS DEEMED INCOME. 4. ON THE OTHER HAND, THE LEARNED DEPARTMENTAL REPR ESENTATIVE IN ITS WRITTEN SUBMISSION THOUGH DISPUTED THE MAINT AINABILITY OF MISCELLANEOUS APPLICATION BUT ADMITTED THAT ADDITIO N WAS MADE AS UNEXPLAINED INVESTMENT DEEMED AS INCOME UNDER SECTI ON 69B. 5. THUS, WE FIND THAT THERE WAS AN APPARENT ERROR I N THE ORDER OF THE TRIBUNAL IN SO FAR AS THE TRIBUNAL PROCEEDED ON TO DECIDE THE ISSUE ON THE ASSUMPTION THAT THE AMOUNT IN QUESTION WAS DEEMED AS INCOME AS PER PROVISIONS OF SECTION 69C OF THE A CT WHEREAS ACTUALLY THE AMOUNT WAS DEEMED AS INCOME AS PER PRO VISIONS OF SECTION 69B OF THE ACT. 6. WE THEREFORE, RECALL THE ORDER DATED 26-3-2010 P ASSED IN ITA NO.226/AHD/2008 AND DIRECT THE REGISTRY TO FIX THE APPEAL IN THE NORMAL COURSE. 7. IN THE RESULT, THE MISCELLANEOUS APPLICATION OF THE ASSESSEE IS ALLOWED. ORDER SIGNED, DATED AND PRONOUNCED IN THE COURT ON 25 TH DAY OF FEBRUARY, 2011. SD/- SD/- ( T.K. SHARMA ) ( T.K. SHARMA ) ( T.K. SHARMA ) ( T.K. SHARMA ) ( N.S. SAINI ) ( N.S. SAINI ) ( N.S. SAINI ) ( N.S. SAINI ) JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER DATED: AHMEDABAD, 25 TH DAY OF FEBRUARY, 2011. COMPILED AND COMPARED BY : PATKI COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE LD. CIT (APPE ALS)- 5. THE DR, AHMEDABAD BENCH 6. THE GUARD FIL E. BY ORDER (DY./ASSTT.REGISTRAR), ITAT, AHMEDABAD - 3 - DATE INITIALS 1. DRAFT DICTATED ON 11-2-2011 --------------- ---- 2. DRAFT PLACED BEFORE AUTHORITY 14-2-2011 ------ ------------- 3. DRAFT PROPOSED & PLACED 11-2-2011 ----------- -------- JM BEFORE THE SECOND MEMBER 4. DRAFT DISCUSSED/APPROVED 11-2-2011 ---------- --------- JM/AM BY SECOND MEMBER 5. APPROVED DRAFT COMES TO P.S ---------------- -- ------------------ 6. KEPT FOR PRONOUNCEMENT ON ---------------- -- ------------------ 7. FILE SENT TO THE BENCH CLERK ---------------- -------------------- 8. DATE ON WHICH FILE GOES TO THE ---------------- -------------------- 9. DATE OF DISPATCH OF ORDER ---------------- -- -------------------