NANDIKISHOR TRIPATHY,SAMBALPUR V. ITO,WARD-1, PALANPUR

ITA 381/CTK/2024

AI Insights

The case involves Nanda Kishore Tripathy, an agriculturist dealing in paddy, who appealed against the order of the CIT(A), NFAC, Delhi, which was dated 18.7.2024. The primary contention was regarding the treatment of deposits in the assessee's bank account, which the Assessing Officer initially treated as unexplained cash credit. The CIT(A) partially accepted the assessee's arguments, allowing a portion of the claims and restoring the issue of interbank transfers back to the Assessing Officer. The Tribunal's decision to restore the matter to the Assessing Officer was influenced by the introduction of new evidences, specifically a bank account statement from The Sambalpur Dist. Co-operative Central Bank Ltd, which was not available during the initial assessment.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 473627 (ITAT-CUTTACK)
• Duration Of Justice: 1 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-11-2024
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Next Hearing Date: 11-11-2024
• Assessment Year: 2016-2017
• Appeal Filed On: 20-09-2024
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: S.C.MOHANTY
• Assessee Lawyers: P.K.MISHRA
• Keywords: Unexplained cash credit

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL, BEFORE MANISH AGARWAL Nanda Kishore Tripathy, At/PO/PS- Sindurpank, Dist: Sambalpur PAN/GIR No. (Appellant Per Bench This is an CIT(A), NFAC, Delhi dated 18.7.2024 16/10333592 for the ass 2. Shri P.K.Mishra, S.C.Mohanty, Sr. IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.381/CTK/2024 Assessment Year : 2016-17 Nanda Kishore Tripathy, Sindurpank, Dist: Vs. Assessing Unit, Income Tax Department, Delhi No.AHEPT 2184 R (Appellant) .. ( Respondent Assessee by : Shri P.K.Mishra, Adv Revenue by : Shri S.C.Mohanty, Sr DR Date of Hearing : 11/11/20 Date of Pronouncement : 11/11/20 O R D E R This is an appeal filed by the assessee against the order of the CIT(A), NFAC, Delhi dated 18.7.2024 in Appeal No. for the assessment year 2016-17. P.K.Mishra, ld AR appeared for the assessee and Shri S.C.Mohanty, Sr. DR appeared for the revenue. P a g e 1 | 4 IN THE INCOME TAX APPELLATE TRIBUNAL, MEMBER , ACCOUNTANT MEMBER Assessing Unit, Income Tax Department, Delhi Respondent) , Adv S.C.Mohanty, Sr DR 2024 024 appeal filed by the assessee against the order of the ld in Appeal No. NFAC/2015- the assessee and Shri ITA No.381/CTK/2024 Assessment Year : 2016-17 P a g e 2 | 4 3. The appeal is delayed by 4 days. The assesseer has filed condonation petition supported by affidavit, stating that as the assessee had undergone medical treatment due to viral fever and chest pain from 14.9.2024 to 19.9.2024, the appeal could not be filed within the stipulated time. It was the contention that the delay be condoned and appeal be heard on merits. As the contention pleaded by the assessee has not been found to be false, we condone the delay of 4 days and admit the appeal for hearing on merits. 4. It was submitted by ld AR that the assessee is an agriculturist and had been dealing in paddy. It was the submission that the Assessing Officer did not accept the claim of the assessee and treated the entire deposits in the bank account of the assessee as unexplained cash credit. On appeal, the ld CIT(A) accepted the contention of the assessee to an extent of Rs.66,43,769/- and had restored the issue to the file of the Assessing Officer in respect of interbank transfer of Rs.22,30,000/-. It was the submission that in respect of balance of Rs.44,33,589/-, this was out of paddy credit account of the assessee. Ld AR has placed before us a copy of the bank account with The Sambalpur Dist. Co-operative Central Bank ltd.,, which shows the paddy cost etc. It was the submission that the issue may be restored to the file of the Assessing Officer so that the assessee would be able to provide all the evidences before the Assessing Officer. ITA No.381/CTK/2024 Assessment Year : 2016-17 P a g e 3 | 4 5. In reply, ld Sr DR submitted that the issue of interbank transfer has already been restored by the ld CIT(A). It was the submission that the addition of Rs.44,33,589/- is liable to be upheld. 6. We have considered the rival submissions. A perusal of the facts in the present case clearly shows that before the AO, the assessee had not produced any evidences, which have been produced before the ld CIT(A) as also before us. The said bank account with The Sambalpur Dist. Co- operative Central Bank ltd also was not before the Assessing Officer. This being so, in the interest of justice, the issues in this appeal are restored to the file of the Assessing officer for readjudication denovo after granting the assessee due opportunity of hearing. 7. In the result, appeal of the assessee stands partly allowed for statistical purposes. Order dictated and pronounced in the open court on 11/11/2024. Sd/- sd/- (Manish Agarwal) (George Mathan) ACCOUNTANT MEMBER JUDICIAL MEMBER Cuttack; Dated 11/11/2024 B.K.Parida, SPS (OS) ITA No.381/CTK/2024 Assessment Year : 2016-17 P a g e 4 | 4 Copy of the Order forwarded to : By order Sr.Pvt.Secretary ITAT, Cuttack 1. The Appellant : Nanda Kishore Tripathy, At/PO/PS- Sindurpank, Dist: Sambalpur 2. The Respondent: Assessing Unit, Income Tax Department, Delhi 3. The CIT(A)- NFAC, Delhi 4. Pr.CIT, Sambalpur 5. DR, ITAT, 6. Guard file. //True Copy// "