Ms. Farhana Khanam, New Delhi v. ITO, New Delhi

ITA 3215/DEL/2017 | 2009-2010
Pronouncement Date: 29-11-2017 | Result: Allowed

Appeal Details

RSA Number 321520114 RSA 2017
Assessee PAN AKGPK0354B
Bench Delhi
Appeal Number ITA 3215/DEL/2017
Duration Of Justice 6 month(s) 7 day(s)
Appellant Ms. Farhana Khanam, New Delhi
Respondent ITO, New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 29-11-2017
Appeal Filed By Assessee
Tags No record found
Order Result Allowed
Bench Allotted SMC
Tribunal Order Date 29-11-2017
Assessment Year 2009-2010
Appeal Filed On 22-05-2017
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI SMC BENCH NEW DELHI BEFORE SHRI B.P. JAIN ACCOUNTANT MEMBER ITA NO. 3215 /DEL/201 7 [A.Y. 20 09 - 10 ] M/S FARHANA KHANAM VS. THE I.T. O 1378 STREET PAHARIMLI WARD 48 ( 1 ) JAMA MASJID DELHI N EW DELHI PAN : A KGPK 0354 B [APPELLANT] [RESPONDENT] DATE OF HEARING : 27 . 1 1 .2017 DATE OF PRONOUNCEMENT : 29 . 1 1 .2017 ASSESSEE BY : SHR I R.S. SINGHVI CA REVENUE BY : SHRI ATIQ AHMED SR. DR ORDER THIS APPEAL OF THE ASSESSEE ARISES F ROM THE ORDER OF THE LD. CIT(A) - 16 NEW DELHI VIDE ORDER DATED 1 0 .0 3 .201 7 FOR A.Y. 20 09 - 10 . 2 . THE ASSESSEE HAS RAISED AS MANY AS 12 GROUNDS OF APPEAL MAINLY AGAINST THE ADDITION OF RS. 12 97 850/ - U/S 69 OF THE INCOME - TAX ACT 1961 [HEREINAFTER REFERRED TO AS 'THE ACT' FOR SHORT]. 2 ITA NO. 4690 /DEL/2017 3 . BRIEFLY STATED THE FACTS OF THE CASE ARE THAT THE ASSESSING OFFICER FOUND DEPO SITS TO THE TUNE OF RS. 12 97 850/ - IN THE S.B. A/C NO. 603210100018960 IN BANK OF INDIA ANSARI ROAD DARYA GAN J NEW DELHI OUT OF WHICH RS. 10 LAKHS WERE DEPOSITED ON 08/10/2008. THE ASSESSEE WAS ASKED TO FURNISH SOURCE OF CASH. THE ASSESSEE SUBMITTED T HAT IT WAS RECEIVED AS GIFT FROM CLOSE RELATIVES AND UNSECURED LOANS FOR PURCHASE OF A HOUSE. THE ASSESSING OFFICER WAS NOT SATISFIED WITH THE EXPLANATION OF THE ASSESSEE AND STATEMENT RECORDED AND ACCORDINGLY MADE ADDITION OF RS. 12 97 850/ - WHICH WAS CO NFIRMED BY THE LD. CIT(A). 4. I HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS A MATTER OF FACT THAT DURING THE COURSE OF STATEMENT THE ASSESSEE SUBMITTED THAT THESE ARE THE SALE PROCEEDS OF THE GOODS WHICH WAS EXPLAI NED BEFORE THE LD. CIT(A) AS WELL. ON PERUSAL OF THE RECORD IT IS EVIDENT THAT THE ASSESSEE HAS FILED RETURN OF INCOME U/S 44AF OF THE ACT AND AS PER PAPER BOOK II RECEIPTS ARE RS. 12 97 850/ - AS AGAINST WHICH THE ASSESSEE HAS DECLARED G.P. OF 27.3% WH ICH IS MUCH ABOVE AS REQUIRED U NDER THE PROVISIONS OF SECTION 44AF OF THE ACT. THE ASSESSEE HAS ALSO PRODUCED CASH FLOW STATEMENT WHICH IS AVAILABLE AT PAGES 3 - 11 OF THE PAPER BOOK AND BANK STATEMENT AT 3 ITA NO. 4690 /DEL/2017 PAGES 12 TO 18 OF THE PAPER BOOK. THE ASSESSING OF FICER AND THE LD. CIT(A) HAVE IGNORED SUCH IMPORTANT EXPLANATION GIVEN BY THE ASSESSEE AND ACCORDINGLY NO ADDITION ON THIS COUNT CAN BE MADE. ACCORDINGLY ADDITION SO MADE IS DIRECTED TO BE DELETED. THUS THE GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED. 5 . IN THE RESULT THE APPEAL OF THE ASSESSEE IN ITA NO. 3215 /DEL/2017 IS ALLOWED . THE ORDER IS PRO NOUNCED IN THE OPEN COURT ON 29 . 1 1 .2017. SD/ - [B.P. JAIN] ACCOUNTANT MEMBER DATED: 29 TH NOVEMBER 2017 VL/ COPY FORWARDED TO: 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) 5 . DR ASST. REGISTRAR ITAT NEW DELHI