Shri Sanjeev Garg, Bhopal v. The ACIT 2(1), Bhopal

ITA 253/IND/2013 | 2007-2008
Pronouncement Date: 11-10-2013 | Result: Partly Allowed

Appeal Details

RSA Number 25322714 RSA 2013
Assessee PAN ACOPG5693F
Bench Indore
Appeal Number ITA 253/IND/2013
Duration Of Justice 5 month(s) 11 day(s)
Appellant Shri Sanjeev Garg, Bhopal
Respondent The ACIT 2(1), Bhopal
Appeal Type Income Tax Appeal
Pronouncement Date 11-10-2013
Appeal Filed By Assessee
Order Result Partly Allowed
Bench Allotted DB
Tribunal Order Date 11-10-2013
Assessment Year 2007-2008
Appeal Filed On 30-04-2013
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH INDORE BEFORE SHRI JOGINDER SINGH J.M. AND SHRI R.C.SHARM A A.M. PAN NO. : ACOPG5693F I.T.A.NO. 253 /IND/201 3 A.Y. : 2007-08 SHRI SANJEEV GARG BHOPAL. VS. ACIT BHOPAL APPELLANT RESPON DENT APPELLANT BY : SHRI H.P.VERMA AND SHRI N. D. PATWA ADV. RESPONDENT BY : SHRI R. A. VERMA SR. DR DATE OF HEARING : 10 . 10 .201 3 DATE OF PRONOUNCEMENT : 11 . 10 .201 3 O R D E R PER R. C. SHARMA A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER PASSED BY THE CIT(A) DATED 11.3.2013 FOR THE ASSE SSMENT YEAR 2007-08 IN THE MATTER OF ORDER PASSED U/S 143( 3) OF THE INCOME-TAX ACT 1961. -: 2: - 2 2. IN THE APPEAL THE ASSESSEE IS BASICALLY AGGRIEVED FOR THE ADDITION MADE U/S 68 AMOUNTING TO RS. 1 40 000/ -. FROM THE RECORD WE FOUND THAT THE ASSESSEE HAD TAKEN A LOAN OF RS. 1 LAKH FROM ONE SHRI NANURAM IN SUPPORT OF GENUINE NESS AND CREDITWORTHINESS THE ASSESSEE HAS FURNISHED BANK P ASS BOOK OF SHRI NANURAM. THE LD. CIT(A) HAS CONFIRMED THE A CTION OF THE ASSESSING OFFICER MERELY ON THE PLEA THAT THE A SSESSEE HAS NOT PRODUCED ANY EVIDENCE TO PROVE THE CREDITWORTHI NESS OF THE LOAN CREDITOR. FROM THE BANK PASS BOOK OF NANURAM WE FOUND THAT THERE IS A CREDIT IN HIS BANK ACCOUNT THROUGH CLEARING NO.82507 AMOUNTING TO RS. 1 LAKH. THUS THERE WAS A DEPOSIT OF CHEQUE/DD AND THERE WAS NO CASH DEPOSIT. ADVANCE WAS GIVEN BY THE ASSESSEE ON 3.5.2006 AND THERE WAS A G AP OF ELEVEN DAYS BETWEEN THE CREDIT OF AMOUNT IN THE ACC OUNT OF NANURAM AND THE DATE OF ADVANCING TO THE ASSESSEE. THUS WE FOUND THAT AS ON THE DATE OF ADVANCE THERE WAS SUF FICIENT CREDIT BALANCE IN THE ACCOUNT OF NANURAM WHICH PRO VED CREDITWORTHINESS OF LOAN CREDITORS. SIMILARLY THER E WAS A CREDIT IN THE BANK ACCOUNT OF SMT. PUSHPA VIDE CLEARING CH EQUE NO. 461428 AMOUNTING TO RS. 40 000/- AND ASSESSEE WAS G IVEN -: 3: - 3 ADVANCE THROUGH CHEQUE ON 8.4.2006. THUS THERE WAS NO CASH DEPOSIT IN THE ACCOUNT OF SMT. PUSHPA. SINCE T HERE WAS SUFFICIENT CREDIT BALANCES IN THE ACCOUNT OF PUSHPA AS ON THE DATE OF ADVANCING THE CHEQUE TO THE ASSESSEE THERE IS NO MERIT IN THE ADDITION SO MADE BY THE ASSESSING OFFICER AN D CONFIRMED BY THE LD.CIT(A). 3. AS THE ASSESSEE WAS CARRYING ON BUSINESS OF TRADING AND JEWELLERY THE EXPENDITURE WAS CLAIMED UNDER TH E HEAD TELEPHONE ADVERTISEMENT DEPRECIATION ON CAR ETC. BY OBSERVING THAT THE EXPENDITURE WAS PERSONAL IN NATU RE THE ASSESSING OFFICER MADE AD HOC DISALLOWANCE OF RS. 50 000/-. BY THE IMPUGNED ORDER THE LD. CIT(A) CONFIRMED THE DISALLOWANCE OF RS. 30 000/-. HOWEVER NOTHING WAS PLACED BEFORE US SO AS TO PERSUADE US TO DEVIATE FROM THE FINDING RECORDED BY THE LD.CIT(A) WITH REGARD TO DISALLOWAN CE OF RS. 30 000/- RETAINED BY HIM. ACCORDINGLY WE CONFIRM T HE DISALLOWANCE OF RS. 30 000/- AS SUSTAINED BY THE LD .CIT(A). -: 4: - 4 4. IN THE RESULT THE APPEAL OF THE ASSESSEE IS ALLOWE D IN PART. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 11 TH OCTOBER 2013. SD/- SD/- (JOGINDER SINGH) (R. C. SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 11 TH OCTOBER 2013. CPU* 101110