SHRI UMMAID MAL SINGHVI,JODHPUR V. ACIT, JODHPUR

ITA 158/JODH/2011

AI Insights

The case involves an appeal by Sh. Ummaid mal Singhvi against the order of the CIT(A) which sustained an addition of Rs. 5,66,600 made by the AO under section 69 of the Income Tax Act, 1961. This addition represented the difference between undisclosed investments and the amount declared in the return of income for the Assessment Year 2008-09. The assessee challenged the CIT(A)'s finding by submitting a statement of rotation of funds, claiming it was based on seized records. Both parties agreed to a remand to the AO for a detailed examination of this statement. The Tribunal, considering the principles of natural justice, decided to restore the matter to the AO for a fresh examination.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 828602 (ITAT-JODHPUR)
• Duration Of Justice: 14 year(s) 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Jodhpur
• Assessment Year: misc
• Appeal Filed On: 27-04-2011
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASSESSEE RAJENDRA JAIN; PHYSICAL; REVENUE M.K. JAIN; LD. VIRTUAL
• Keywords: Opportunity of being heard; Principle of natural justice; Source of fund
• Section: 69

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR BEFORE DR. MITHA LAL MEENA, HON’BLE ACCOUNTANT MEMBER AND SHRI SUDHIR PAREEK, HON’BLE ACCOUNTANT MEMBER I.T.A No.158/Jodh/2011 (Assessment Year : 2008-09) Sh. Ummaid mal Singhvi U.C. Jain, Advocate ‘Shatrunjay’ Hari Singh Nagar, Pali Road, Jodhpur PAN : ABPPS 7429 D vs ACIT, Central Circle – 2 Jodhpur APPELLANT RESPONDENT Date of hearing 12/01/2026 Date of pronouncement 13/01/2026 O R D E R Per DR. MITHA LAL MEENA: This appeal in ITA No. 158/Jodh/2011 in respect of Assessment Year 2008-09 has been recalled by allowing the miscellaneous application no. 1/Jodh/2013 of the assessee vide Tribunal order dated 08.10.2014 for adjudication of ground no. 5, regarding confirmation of addition of Rs. 5,66,600/-. 3. Having heard both the sides and perusal of record, we find that Ld. CIT(A) has sustained the addition of Rs. 5,66,600/- made by the AO u/s 69 of Present for Assessee Shri Rajendra Jain, Advocate (Physical) Present for Revenue Shri M.K. Jain, Ld. CIT (DR) (Virtual) Printed from counselvise.com MA No. 01/Jodh/2013 Asst. Year: 2008-09 2 the Act being the difference between the undisclosed investment and the amount declared in the return of income. 4. The AR for the assessee has submitted that to challenge the finding of the Ld. CIT(A), the appellant has furnished the statement of rotation of funds from 01.04.2007 to 31.03.2008. This statement was prepared based on the seized annexure which shows the source of money received and utilised. The Ld. AR contended that the statement of rotation of fund prepared was based on the seized records disclosed. The finding of the Ld. CIT(A) which remained uncontroverted by the CIT(A) and the Tribunal. The Ld. AR has made a prayer that the matter of source of fund of Rs. 5,66,600/- though stands explained based on the statement of rotation of funds, may be restated to the file of the AO for fresh examination and verification. The AR under takes to cooperate in the proceedings before the AO in verification of the source of the disputed amount of Rs. 5,66,600/- being claimed to be out of the rotation of funds during the financial year. 5. The Ld. DR on the other hand has no objection to the request of the assessee and sending the matter back to the file of the AO for the limited purpose for examination of statement of rotation of fund claimed to be prepared by the assessee based on the seized annexure. 6. Considering the factual matrix and in view of the principles of natural justice, we deem it appropriate to restore the matter to the file of the AO to examine the statement of rotation of funds from 01.04.2007 to 31.03.2008 as claimed by assessee to be prepared on the basis of seized annexure. The AO Printed from counselvise.com MA No. 01/Jodh/2013 Asst. Year: 2008-09 3 may examine the source of the money received and utilised to explain the difference between the undisclosed investment and amount declared to the extent of Rs. 5,66,600/- after granting opportunity of being heard to the assessee. 7. Accordingly, the issue of source of availability of funds of Rs. 5,66,600/- for advancing loans has been restored back to the file of the AO to be examined afresh in accordance with law. 8. In the result, the appeal of the assessee is allowed for statistical purpose. Order pronounced in the open court on 13th January, 2026 Sd/- Sd/- (SUDHIR PAREEK) (DR. MITHA LAL MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER Jodhpur, Dt : 13th January, 2026 Nimisha TRUE COPY Copy of the Order forwarded to: 1. अपीलाथŎ/The Appellant , 2. Ůितवादी/ The Respondent. 3. आयकरआयुƅ CIT 4. िवभागीयŮितिनिध, आय.अपी.अिध., मुबंई/DR, ITAT, Jodhpur 5. गाडŊफाइल/Guard file. BY ORDER, (Asstt. Registrar), ITAT, Jodhpur Printed from counselvise.com "