MS. RANJANA RUNGTA,CHENNAI V. ITO, NCW-9(1), CHENNAI

ITA 1097/CHNY/2025

AI Insights

This case involves an appeal by Ms. Ranjana Rungta against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Center, Delhi, which confirmed the addition of Rs. 62,55,000/- to the assessee's income for the assessment year 2014-15. The addition was made under section 68 of the Income Tax Act, 1961, concerning unexplained cash credits. The assessee contended that the amount in question had already been declared under the Income Declaration Scheme 2016, and thus, should not be taxed again. The Tribunal found that the CIT(A) had ignored the assessee's arguments and the relevant documents, including Form-4 issued by the PCIT-8, Chennai, which accepted the declaration under the scheme. Consequently, the Tribunal remitted the case to the AO for verification of the declaration's acceptance.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 652636 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-06-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANITHA
• Assessee Lawyers: R. VIJAYARAGHAVAN; VIRTUAL

Judgement Text

"आयकर अपीलीय अधिकरण, ’सी’ न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI माननीय श्री मनु क ुमार धिरर ,न्याधयक सदस्य एवं माननीय श्री अमिताभ शुक्ला, लेखा सदस्य क े सिक्ष BEFORE HON’BLE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND HON’BLE SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1097/Chny/2025 Assessment Years: 2014-15 Ms.Ranjana Rungta, No.127A, TVH Lumbini Square 3071, Bricklim Road, Vepery, Chennai-600 007. [PAN: AGBPR0526M] Income Tax Officer, Non-Corp Ward-9(1), Chennai. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee by : Mr.R.Vijayaraghavan, Advocate (Virtual) प्रत्यर्थी की ओर से /Revenue by : Ms.Anitha, Addl.CIT सुनवाई की तारीख/Date of Hearing : 17.06.2025 घोषणा की तारीख /Date of Pronouncement : 19.06.2025 आदेश / O R D E R PER AMITABH SHUKLA, A.M : This appeal is filed by the assessee against the order bearing DIN & Order No.ITBA / NFAC / S / 250 / 2024-25 / 1073564311(1) dated 21.02.2025 of the Learned Commissioner of Income Tax [herein after “CIT(A), National Faceless Appeal Center[NFAC], Delhi, for the assessment year 2014-15. The reference to the word “Act” in this order hereinafter shall mean the Income Tax Act, 1961 as amended from time to time. ITA No.1097/Chny/2025 Page - 2 - of 3 2.0 At the outset, the Ld.Counsel for the assessee submitted that the only issue raised by it through grounds of appeal qua addition of Rs.62,55,000/- u/s 68 made by the Ld.AO is that no addition was liable to be made in its case since the impugned transactions were already offered for taxation by the assessee within the meanings of income declaration scheme 2016. The Ld.Counsel for the assessee submitted that as a sequel to its application PCIT-8, Chennai had accepted its declaration and issued Form-4 dated 11.01.2018. The said matter was brought to the knowledge of the Ld.CIT(A) through the ground of appeal no.2, 3 & 4 but the same was ignored and addition confirmed by him. 3.0 Per contra, the Ld.DR relied upon the order of lower authorities. 4.0 We have heard rival submissions in the light of material available on records. We have perused the documents produced by the appellant assessee indicating prima facie veracity of its contentions. We have also noted that the Ld.CIT(A) has brushed aside the arguments without any comment. The only issue is that when the assessee has already made a declaration qua income declaration scheme 2016 and the Ld.PCIT-8, Chennai had accepted its declaration and issued Form-4 dated 11.01.2018 same income cannot be taxed again in the terms of the immunity available to the appellant w.r.t. Circular No.24 of 2016 dated 27.06.2016 issued by the CBDT. Accordingly, in the interest of justice, we remit the case to the file of the Ld.AO for limited verification of the ITA No.1097/Chny/2025 Page - 3 - of 3 facts qua declaration made by the assessee under the income declaration scheme 2016 in the light of Form-4 dated 11.01.2018 issued by the Ld.PCIT-8, Chennai. In case the assessee has made the impugned declaration qua transactions material to addition made by the Ld.AO and the same has been accepted by the Revenue through Form-4 dated 27.06.2016, the addition would stand deleted. Accordingly, all the grounds of appeal raised by the assessee are allowed for statistical purposes. 5.0 In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced on 19th , June-2025 at Chennai. Sd/- (मनु क ुमार धिरर) (MANU KUMAR GIRI) न्याधयक सदस्य / Judicial Member Sd/- (अधमताभ शुक्ला) (AMITABH SHUKLA) लेखा सदस्य /Accountant Member चेन्नई/Chennai, धदनांक/Dated: , June-2025. KB/- आदेश की प्रतितिति अग्रेतिि/Copy to: 1. अिीिार्थी/Appellant 2. प्रत्यर्थी/Respondent 3. आयकर आयुक्त/CIT - 4. तिभागीय प्रतितिति/DR 5. गार्ड फाईि/GF "