Sri Manish Bothra Kolkata v. Ito Ward 46 2 Kolkata Kolkata

In The Income Tax Appellate Tribunal Smc Bench Kolkata Before Shri J Sudhakar Reddy Am I T A No 1846 Kol 20 17 Assessment Year 2012 1 3 Shri Manish Bothra Vs Ito Wa Rd 46 2 Kolkata Pan Amlpb 5827 H Appellant Respondent For The Appellant Shri S M Surana Advocate For The Revenue Shri Pijush Mukherjee Jcit Date Of Hearing 14 11 2017 Date Of Pronouncement 20 12 2017 Order 1 This Appeal By The Assessee Arises Out Of The Order Of The Learned Commissioner Of Income Tax Appeals 14 Kolkata In Short The Ld Cita Dated 03 07 2017 Against The Order Passed By The Ito Ward 47 2 Kolkata In Short The Ld Ao Under Section 143 3 Of The Income Tax Act 1961 In Short The A Ct Dated 17 09 2014 For The Assessment Year 2012 13 On The Following Grounds 2 For That The Ld Cit A Erred In Confirming The Addition Of Rs 2 89 066 On Mere Assumption And Hypothetically Calculating The Cash Balance Available For Deposits In Bank When Regularly Maintained Cash Boo K Was Produced Wherein All The Deposits And Withdrawal Were Incorporated A Nd Examined By The Ao 2 The Assessing Officer In This Case Made An Addit Ion Of Rs 2 89 066 Being 20 Of The Deposits In The Bank Account Which As Per The Ld Ao Was Excess Sales Turnover Of The Assessee The Same Has Been Confirmed By The Ld Cit A Aggrieved The Assessee Is In Appeal 3 After Hearing The Rival Contention I Find That As Per The Assessing Officer The Unexplained Deposits In The Bank Account Is Rs 12 28 029 The Assessee Was 2 Ita No 1846 Kol 2017 Manish Bothra A Yr 2012 13 2 Maintaining Books Of Accounts And The Assessing Off Icer Verified These Books Of Accounts All The Deposits And Withdrawals Mentione D In The Bank Account Were Recorded In The Books Of Accounts The Ld Ao Dispu Ted Credit Sales Of Rs 23 27 149 Without Any Basis When All The Transactions In The Bank Are Recorded In The Books Of Accounts The Question Of Making An Addition Of An Amount As Unexplained Deposit Does Not Arise Be As It May An Ad Hoc Addition Of 20 Of Rs 12 28 029 The So Called Unexplained Deposits Cannot Be Countenanced Either The Entire Unexplained Deposit As Ascertained By The Ld Ao Has To Be Added Or Additi On Has To Be Made By Evaluating Each Credit In The Bank Account I Do Not Understan D How 20 Ad Hoc Addition Of The Total Deposit Made In The Account Can Be Made Thus The Said Addition Is Hereby Deleted And The Appeal Of The Assessee Allowed 4 In The Result The Appeal Of The Assessee Is All Owed Order Pronounced In The Court On 20 12 2017 Sd J Sudhakar Reddy Accountant Member Dated 20 12 2017 Sb Sr Ps Copy Of The Order Forwarded To 1 Shri Manish Bothra 21 Khetra Mitra Lane 7 Th Floor R No 7 A Salkia Howrah 711106 2 Ito Ward 46 2 3 Government Place West Kol Kata 700001 3 C I T A Kolkata 4 C I T Kolkata 5 Cit Dr Kolkata Benches Kolkata True Copy By Order Senior Privat E Secretary Head Of Office D D O Itat Kolkata Benche S