Shri Mohanlal Patidar,, Indore v. The I.T.O., Dhar

ITA 306/IND/2010 | 2001-2002
Pronouncement Date: 20-07-2011 | Result: Allowed

Appeal Details

RSA Number 30622714 RSA 2010
Assessee PAN ABCPP6306P
Bench Indore
Appeal Number ITA 306/IND/2010
Duration Of Justice 1 year(s) 2 month(s) 7 day(s)
Appellant Shri Mohanlal Patidar,, Indore
Respondent The I.T.O., Dhar
Appeal Type Income Tax Appeal
Pronouncement Date 20-07-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 20-07-2011
Assessment Year 2001-2002
Appeal Filed On 13-05-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH INDORE BEFORE SHRI JOGINDER SINGH J.M. AND SHRI R.C.SHARMA A.M. PAN NO. : ABCPP6306P I.T.A.NO. 306 / IND /20 10 A.Y. : 2001 - 02 SHRI MOHANLAL PATIDAR BLOCK COLONY INCOME - TAX OFFICER DHAR GANDH WANI VS INDORE. APPELLANT RESPONDENT APPELLANT BY : SHRI ASHISH GOYAL AND SHRI GIRISH AGARWAL ADVOCATES RESPONDENT BY : SHRI ARUN DEWAN SR. DR O R D E R PER R. C. SHARMA A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF CIT(A) DATED 3 RD FEBRUARY 2010 FOR THE ASSESSMENT YEAR 200 1 - 02 IN THE MATTER OF LEVY OF PENALTY U/S 271(1)(C) OF THE INCOME - TAX ACT 1961 AMOUNTING TO RS. 71 057/ - . 2. RIVAL CONTENTIONS HAVE BEEN HEARD AND RECORDS PERUSED. THE AO HAS LEVIED PEN ALTY WITH REGARD TO CASH - : 2 : - 2 CREDITOR SHOWN BY THE ASSESSEE AMOUNTING TO RS. 1 58 230/ - . DURING THE COURSE OF ASSESSMENT THE ASSESSEE HAS FURNISHED FULL DETAILS OF THE CREDITORS OUT OF WHICH TWO WERE INCOME TAX ASSESSEES AND THE REMAINING AMOUNTS PERTAINED TO DEPOSITS FROM THE LABOURERS WHO WERE FROM U.P. AND BIHAR. THESE PERSONS WERE NOT GIVEN LOANS TO THE ASSESSEE BUT THEY HAD DEPOSITED THE AMOUNT WITH THE ASSESSEE AS THEY HAD NO PLACE TO KEEP THEIR SAVINGS. THE CONTENTION OF THE LOWER AUTHORITIES THAT THE SE LABOURERS WERE NOT HAVING PAN NUMBERS IS OF NO SUBSTANCE IN SO FAR AS THEIR INCOME WAS NOT TAXABLE. GENUINENESS OF THE CREDIT WAS NOT DOUBTED. WE ALSO FOUND THAT THESE LABOURERS WERE PAID SUBSEQUENTLY IN THE NEXT YEAR AS IS EVIDENT FORM PAGE NO.11 OF THE PAPER BOOK. P.B.NO.14 IS THE LIST OF ANNEXURE WHEREIN NO CREDITS WERE REFLECTED. THE REPAYMENT TO THESE PARTIES WAS ALSO NOT DOUBTED. KEEPING IN VIEW THE EXPLANATION FURNISHED BY THE ASSESSEE AND TOTALITY OF THE FACTS AND CIRCUMSTANCES OF THE CASE WE DO NOT FIND ANY MERIT FOR IMPOSITION OF PENALTY WITH REGARD TO CASH CREDIT S FOR WHICH THE ASSESSEE HAS DULY DISCHARGED HIS BURDEN TO PROVE THEIR GENUINENESS MERELY BECAUSE THE ADDITION WAS MADE IN - : 3 : - 3 QUANTUM PROCEEDINGS WILL NOT LEAD TO THE INFERENCE THAT TH E ASSESSEE HAS CONCEALED PARTICULARS OF INCOME. 3. IN THE RESULT THE APPEAL OF THE ASSESSEE IS ALLOWED. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 20 TH JU LY 2011. S D/ - S D/ - (JOGINDER SINGH) ( R.C.SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 20 TH JU LY 2011 . CPU* 207