Murlidhar C. Sarda, v. ITO(CIB)-2,

ITA 407/PUN/2009 | 2005-2006
Pronouncement Date: 28-09-2010 | Result: Allowed

Appeal Details

RSA Number 40724514 RSA 2009
Assessee PAN BOFPS3731C
Bench Pune
Appeal Number ITA 407/PUN/2009
Duration Of Justice 1 year(s) 5 month(s) 24 day(s)
Appellant Murlidhar C. Sarda,
Respondent ITO(CIB)-2,
Appeal Type Income Tax Appeal
Pronouncement Date 28-09-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted SMC
Tribunal Order Date 28-09-2010
Assessment Year 2005-2006
Appeal Filed On 03-04-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES PUNE SINGLE MEMBER CASE BEFORE SHRI SHAILENDRA KUMAR YADAV JUDICIAL MEMBE R I.T.A. NO. 407/PN/2009 : A.Y. 2005-06 MURLIDHAR C. SARDA SONPETH PARBHANI PAN BOFPS 3731 C : APPELLANT VS. I.TO. CIB 2 PUNE : RESPONDENT APPELLANT BY : NONE RESPONDENT BY: SHRI HEMANTKUMAR C. LEUVA ORDER THIS APPEAL HAS BEEN FILED BY THE ASESSEE AGAINST THE ORDER OF THE CIT(A) AURANGABAD DATED 12-1-2009 AGAINST THE CONFIRMATION OF ADDITION OF RS. 1 78 00 0/. 2. THE ASSESSEE IS AN INDIVIDUAL. DURING THE YEAR UNDER CONSIDERATION A TRANSACTION WAS REPORTED IN THE ANNUAL INFORMATION RETURN FILED BY THE STATE BANK O F HYDERABAD U/S 285BA OF THE I.T. ACT 1961 IN RESPEC T OF CASH DEPOSIT OF RS. 10 38 600/- BY THE ASSESSEE. T HE A.O AFTER TAKING INTO CONSIDERATION VARIOUS CONTENTIONS MADE ON BEHALF OF THE ASSESSEE MADE AN ADDITION OF RS. 1 78 000/- WHICH WAS CONFIRMED BY THE CIT(A). SAME HAS BEEN OPPOSED BEFORE ME. 3. THE STAND OF THE ASSESSEE HAS BEEN THAT THE AMOU NT IN QUESTION I.E. RS. 1 78 00/- WAS DEPOSITED OUT OF CASH ITA NO. 407/PN/09 MURLIDHAR C SARDA A.Y. 2005-06 2 BALANCE AVAILABLE FROM SALE OF AGRICULTURAL LAND. T HE ASSESSEE SUBMITTED THAT HE HAS NOT UTILIZED THE CAS H RECEIVED ON SALE OF LAND AND SURPLUS OF RS. 2 72 00 0/- WAS LYING WITH HIM. OUT OF WHICH RS. 1 78 000/- WAS DEPOSITED IN BANK WHICH IS THE SUBJECT MATTER OF AP PEAL BEFORE ME. CERTAIN FAMILY DISPUTES HAVE BEEN CLAIME D AT RELEVANT POINT OF TIME. SO THE SAME WAS KEPT WITH THE WIFE OF THE ASSESSEE AT THE RELEVANT POINT OF TIME AND THE SAME WAS DEPOSITED IN THE BANK SUBSEQUENTLY WHEN TH E SITUATION ALLOWED THE SAME. SO ADDITION IN QUESTION BE DELETED. ON THE OTHER HAND LEARNED DR SUPPORTED T HE ORDERS OF AUTHORITIES BELOW. 4. I FIND THAT THE REVENUE HAS NOT DISPUTED THE FAC T THAT THE ASSESSEE HAS SOLD AGRICULTURAL LAND FOR RS . 8 32 000/- AND RS. 3 00 000/- ON 8-6-2004 AND 13-12 - 2004 RESPECTIVELY. THE MAJOR AMOUNT WAS CLAIMED TO BE DEPOSITED IN BANK IN CASH BECAUSE IT WAS RECEIVED B Y THE ASSESSEE IN CASH. THE SAID TRANSACTION IS NOT IN DI SPUTE AT ALL. IT IS NOT ON RECORD TO SUGGEST THAT THE AS SESSEE HAS OTHER SOURCE OF INCOME OTHER THAN THE AGRICULTURAL INCOME. IT IS NOT N DISPUTE THAT TRANSACTION WAS I N CASH. SO KEEPING OF CERTAIN CASH OUT OF RS. 2 72 000/- AT THE RELEVANT POINT OF TIME CANNOT BE RULED OUT IN THE R URAL INDIAN FAMILY CIRCUMSTANCES. THE EXPLANATION GIVEN BY THE ASSESSEE SHOULD NOT BE REJECTED SUMMARILY. IT HAS TO ITA NO. 407/PN/09 MURLIDHAR C SARDA A.Y. 2005-06 3 BE LOOKED INTO IN THE LIGHT OF FAMILY CIRCUMSTANCES I.E. SOCIAL AND ECONOMICAL BACKGROUND OF THE ASSESSEE. THE EXPLANATION OF THE ASSESSEE CAN BE REJECTED WITHOUT BRINGING OUT ANY EVIDENCE ON RECORD TO SUGGEST THAT THE ASSESSEE WAS HAVING ANY OTHER INCOME OTHER THAN THE AGRICULTURAL ONE. UNDER THE FACTS AND CIRCUMSTANCES THE REVENUE IS NOT JUSTIFIED IN MAKING THE ADDITION IN QUESTION. THE A.O IS DIRECTED ACCORDINGLY. HOWEVE R HE IS AT LIBERTY TO COMPUTE LONG TERM CAPITAL GAIN AS PER LAW. THE APPEAL IS DISPOSED OFF AS INDICATED ABOVE. SIN CE I AM DECIDING THE ISSUE ON FACTS I AM REFRAINED TO M AKE ANY COMMENT ON THE PRELIMINARY ISSUES RAISED ON BEH ALF OF THE ASSESSEE MORE SO BECAUSE NONE WAS PRESENT ON BEHALF OF THE ASSESSEE AT THE RELEVANT POINT OF TIM E. THE SAME MAY BE AGITATED IN CASE SITUATION ARISES FOR T HE SAME. 5. IN THE RESULT THE APPEAL IS DISPOSED OFF AS IND ICATED ABOVE. PRONOUNCED IN THE OPEN COURT ON 28 TH SEPTEMBER 2010 . SD/- (SHAILENDRA KUMAR YADAV) JUDICIAL MEMBER PUNE DATED THE 28 TH SEPTEMBER 2010 ANKAM ITA NO. 407/PN/09 MURLIDHAR C SARDA A.Y. 2005-06 4 COPY FORWARDED TO: (1) ASSESSEE (2) DEPARTMENT (3) CIT- IV PUNE (4) CIT(A)- III PUNE (5) THE D.R. ITAT PUNE BENCH PUNE TRUE COPY BY ORDER ASSISTANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL PUNE BENCHES PUNE