Appeal details
Counselvise Citation
[2025] 140 COUNSELVISE.COM (IT) 397229 (ITAT-COCHIN)
Assessee PAN
Bench
Appeal Number
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
30-05-2025
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
DB
Assessment Year
2014-2015
Judgement Text
"IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Inturi Rama Rao, Accountant Member & Shri Prakash Chand Yadav, Judicial Member ITA No.672/Coch/2024 : Asst.Year 2013-2014 ITA No.674/Coch/2024 : Asst.Year 2014-2015 ITA No.680/Coch/2024 : Asst.Year 2015-2016 ITA No.681/Coch/2024 : Asst.Year 2015-2017 Pathirikattu Kalam Kunhiraman, TC 48/72, Remya Civil Lines Road Ayyanthole, Trichur-680003 PAN : ANIPK6883C. v. The Dy.Commissioner of Income-tax, Circle 2(1) Thrissur. (Appellant) (Respondent) Appellant by : Sri.V.N.Guruvayurappan, CA Respondent by : Sri.Sundarasan S, CIT-DR & Smt.Leena Lal, Sr.AR Date of Hearing : 27.05.2025. Date of Pronouncement : 30.05.2025 O R D E R Per Prakash Chand Yadav, JM : The present appeal of the assessee is arising from the order of the National Faceless Appeal Centre / learned Commissioner of Income-tax (Appeals) [“CIT(A)” for short] dated 26.07.2024, having DIN & Order No.ITBA/NFAC/S/250/2024- 25/1067071732(1) and relates to the assessment year 2017- 2018. 2. All these appeals are arising from the order of the National Faceless Appeal Centre / learned Commissioner of ITA No.672/Coch/2024. Pathirikattu Kalam Kunhiraman. 2 Income-tax [“the CIT(A) for short] and relates to assessment years 2013-2014, 2014-2015, 2015-2016 and 2016-2017, respectively. 3. Since common issues are involved in these appeals, they were heard together and are being disposed of by this consolidated order, for the sake of convenience. We take ITA No.672/Coch/2024 for assessment year 2013-2014, as a lead appeal for adjudication, and to state that the decision that would arrive at therein, would be applicable mutatis mutandis to other appeals as well. 3. The assessee is an individual filed his return of income on 12th June, 2013 declaring total income of Rs.1,27,39,160. The same was processed u/s.143(1) of the Income-tax Act, and thereafter the case of the assessee was reopened u/s.148 vide notice dated 29th March, 2019. The solitary issue involved in these appeal is the claim of the assessee u/s.10(4)(ii), earned by the assessee as interest on NRE deposit with various banks. 4. During the course of assessment proceedings, the Assessing Officer observed that the assessee derived income from capital gain, interest from bank deposit, etc. The A.O. disallowed the claim of the assessee on the ground that the assessee failed to furnish any evidence with respect to the interest earned on NRE deposits. The AO has relied upon the provisions of FEMA for disallowing the claim of the assessee u/s.10(4) of the Act. The AO further observed that the assessee was a resident of India and holding trade licence in Dubai. ITA No.672/Coch/2024. Pathirikattu Kalam Kunhiraman. 3 5. Aggrieved with the order of the AO, the assessee filed an appeal before the CIT(A) and argued that the AO has wrongly relied upon the provisions of FEMA for construing that the assessee was not NRI during the relevant period. However, the CIT(A) could not find any force in the arguments of the assessee and dismissed the appeal of the assessee. 6. Aggrieved with the order of the AO, the assessee has come up in appeal and filed certain additional evidences in order to show that he was non-resident during the relevant period and has earned interest in NRE account. However, the assessee failed to satisfy the bench with documentary evidences. 7. The learned DR appearing on behalf of the Revenue fairly admitted that on oral inquiry from the bank, the bank has accepted that deposits were there in the NRE account of the assessee. Therefore, in the interest of justice, we remit the issue to the files of the CIT(A) to examine the issue afresh in the light of the documentary evidences filed before us. 8. In the result, all the appeals filed by the assessee are allowed for statistical purposes. Order pronounced on this 30th day of May, 2025. Sd/- (Inturi Rama Rao) Sd/- (Prakash Chand Yadav) ACCOUNTANT MEMBER JUDICIAL MEMBER Cochin; Dated : 30th May, 2025. Devadas G* ITA No.672/Coch/2024. Pathirikattu Kalam Kunhiraman. 4 Copy to : 1. The Appellant. 2. The Respondent. 3. The CIT, Cochin. 4. The DR, ITAT, Cochin. 5. Guard File. Asst.Registrar/ITAT, Cochin "
AI Insights
The case involves multiple appeals by the assessee, Pathirikattu Kalam Kunhiraman, against the orders of the Deputy Commissioner of Income-tax and the Commissioner of Income-tax (Appeals) concerning the assessment years 2013-2014 to 2016-2017. The primary issue in these appeals was the disallowance of the assessee's claim under section 10(4)(ii) of the Income-tax Act, which pertains to interest earned on NRE deposits. The Assessing Officer initially disallowed the claim citing lack of evidence and reliance on FEMA provisions, which the CIT(A) upheld. The Tribunal, after considering the additional evidence provided by the assessee, decided to remit the matter back to the CIT(A) for a detailed examination.
