VICKY JAIKISHAN BANSAL,PIMPARI CHINCHWAD V. IT OFFICER, AKURDI

ITA 1862/PUN/2024

AI Insights

The case involves Vicky Jaikishan Bansal, who appealed against the order of the Ld. Addl/JCIT(A)-3, Bengaluru, which arose from an assessment order under section 144 of the Income Tax Act for the Assessment Year 2017-18. The primary contention was the assessee's inability to comply and provide necessary details before the Ld. CIT(A) due to the premature passing of the impugned order. The Assessing Officer had made an addition of Rs.21,99,406 by applying a 1% net profit rate on 50% of the undisclosed turnover, allegedly from a money transfer business. The Tribunal noted the assessee's failure to provide credible evidence to substantiate the additions and decided to remand the matter back to the Assessing Officer for a fresh assessment after giving the assessee a fair opportunity to present his case.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 32560 (ITAT-PUNE)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-03-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2017-2018
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AVIYOGI AMADKAR
• Assessee Lawyers: MAHAVIR JAIN
• Section: 144

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI MANISH BORAD, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1862/PUN/2024 िनधाᭅरण वषᭅ / Assessment Year : 2017-18 Vicky Jaikishan Bansal, D24, Indraprastha Housing Society, Dehu Road, Pune- 412201. PAN : AMQPB4511P Vs. ITO, Ward-9(1), Pune. Appellant Respondent आदेश / ORDER PER MANISH BORAD, AM: This appeal filed at the instance of assessee is directed against the order of Ld. Addl/JCIT(A)-3, Bengaluru [Ld. CIT(A)’] dated 10.07.2024 which is arising out of the assessment order u/s 144 of the Act for Assessment Year 2017-18 framed on 30.12.2019 by the ITO, Ward-9(1), Pune. 2. Apart from various grounds, one ground raised by the assessee is that before he could make necessary compliance before Ld. CIT(A) and could file details, the impugned order was passed. Assessee by : Shri Mahavir Jain Revenue by : Shri Aviyogi Amadkar Date of hearing : 10.03.2025 Date of pronouncement : 24.03.2025 ITA No.1862/PUN/2024 2 3. A perusal of the impugned order clearly indicates that various details were called for by Ld. CIT(A) but the assessee failed to produce any credible documentary evidence to substantiate that the impugned additions are uncalled for. 4. We have heard rival contentions and perused the records placed before us. We notice that the assessee is an individual and the return of income for assessment year 2017-18 was filed on 12.12.2017 declaring income of Rs.4,06,800/-. The case selected for scrutiny for larger cash deposit and thereafter Ld. Assessing Officer passed best judgment assessment by making addition of Rs.21,99,406/- by applying 1% rate of net profit on 50% of the undisclosed turnover allegedly on account of money transfer business. Though the assessee failed to succeed before Ld. CIT(A), we considering the facts of the case and also observing the observation of Ld. Assessing Officer about the undisclosed turnover and then application of net profit rate on 50% of the undisclosed turnover and that the assessee having failed to furnish relevant details before both the lower authorities deem it appropriate to restore the issue raised on merits to the file of Ld. Assessing Officer for de novo assessment which is to be carried out after giving reasonable opportunity to the assessee to furnish the requisite ITA No.1862/PUN/2024 3 details. Effective grounds of appeal raised by the assessee are allowed for statistical purposes. 5. In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced on 24th day of March, 2025. Sd/- Sd/- (VINAY BHAMORE) (MANISH BORAD) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 24th March, 2025. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The Addl/JCIT(A)-3, Bengaluru. 4. The Pr. CIT/CIT concerned. 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “SMC” बᱶच, पुणे / DR, ITAT, “SMC” Bench, Pune. 6. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune. "