ITO Ward 1(1), Gwalior v. Shri Sajan Das Gabra, Gwalior

ITA 417/AGR/2009 | 2005-2006
Pronouncement Date: 25-02-2011 | Result: Dismissed

Appeal Details

RSA Number 41720314 RSA 2009
Assessee PAN AJDPG3759J
Bench Agra
Appeal Number ITA 417/AGR/2009
Duration Of Justice 1 year(s) 5 month(s)
Appellant ITO Ward 1(1), Gwalior
Respondent Shri Sajan Das Gabra, Gwalior
Appeal Type Income Tax Appeal
Pronouncement Date 25-02-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted DB
Tribunal Order Date 25-02-2011
Date Of Final Hearing 23-02-2011
Next Hearing Date 23-02-2011
Assessment Year 2005-2006
Appeal Filed On 24-09-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH AGRA BEFORE SHRI P.K. BANSAL ACCOUNTANT MEMBER AND SHRI H.S. SIDHU JUDICIAL MEMBER ITA NO.417/AGR/2009 ASST. YEAR: 2005-06 INCOME TAX OFFICER VS. SHRI SAJANDAS GABRA WARD - 1(1) GWALIOR. KAMPOO ROAD LASHKAR GWALIOR. (PAN : AJDPG 3759 J). (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI VINOD KUMAR JR. D.R. RESPONDENT BY : SHRI NAVIN GARGH ADVOCATE ORDER PER H.S. SIDHU J.M. : THE REVENUE HAS FILED THE PRESENT APPEAL AGAINST TH E ORDER DATED 02.06.2009 PASSED BY THE CIT(A) ON THE FOLLOWING GROUND :- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE THE CIT(A) HAS ERRED IN DELETING THE ADDITION OF ` 8 34 000/- ON ACCOUNT OF UNEXPLAINED INVESTMENT U/S 69 OF THE IT ACT. 2. THE ASSESSEE IS AN INDIVIDUAL HAVING INCOME FROM PROPERTY INTEREST AND OTHER SOURCES FILED HIS RETURN OF INCOME DECLARING TOTAL INCOME O F ` 1 28 350/- ON 20.10.2008. THE ASSESSING OFFICER ISSUED NOTICE DATED 21.08.2007 UNDER SECTIO N 148 OF THE INCOME TAX ACT 1961 (THE ACT HEREINAFTER) WHICH WAS SERVED UPON THE ASSESSEE ON 27.08.2007. THE ASSESSING OFFICER ALSO ISSUED NOTICE UNDER SECTION 143(2) AND 142(1) OF TH E ACT. IN RESPONSE TO THE SAME THE LD. A.R. OF THE ASSESSEE APPEARED FROM TIME TO TIME AND FILED H IS REPLY. AFTER CONSIDERING THE SAME THE 2 ASSESSING OFFICER COMPLETED THE ASSESSMENT ON 22.12 .2008 BY PASSING THE ASSESSMENT ORDER UNDER SECTION 143(3)/147 OF THE ACT MAKING VARIOUS ADDITIONS INCLUDING THE ADDITION IN DISPUTE. AGGRIEVED BY THE SAME THE ASSESSEE FILED APPEAL BE FORE THE LD. FIRST APPELLATE AUTHORITY WHO VIDE ORDER DATED 02.06.2009 PARTLY ALLOWED THE APPE AL OF THE ASSESSEE AND DELETED THE ADDITION IN DISPUTE. NOW THE REVENUE HAS FILED THE PRESENT APP EAL. 3. AT THE TIME OF HEARING THE LD. D.R. RELIED UPON THE ORDER PASSED BY THE ASSESSING OFFICER. ON THE CONTRARY THE LD. COUNSEL FOR THE ASSESSEE R ELIED UPON THE ORDER PASSED BY THE LD. FIRST APPELLATE AUTHORITY. 4. AFTER HEARING BOTH THE PARTIES WE ARE OF THE CO NSIDERED OPINION THAT THE LD. FIRST APPELLATE AUTHORITY HAS DELETED THE ADDITION OF RS. 8 34 000/- ON ACCOUNT OF UNEXPLAINED INVESTMENT MADE UNDER SECTION 69 OF THE ACT ON THE BASIS OF DOCUMENTARY EVIDENCES FILED BY THE ASSESSEE BEFORE THE ASSESSING OFFICER AND SIMILARLY BEFORE HER. THE LD. FIRST APPELLATE AUTHORITY HAS HELD THAT THE ASSESSING OFFICER MADE THE ADDITI ON OF RS.8 34 000/- AS UNEXPLAINED INVESTMENT IN MONEY LENDING BUSINESS TO EARN RS.1 00 000/- PRE SUMING THE INTEREST @ 12%. THE ASSESSEE WAS OF 67 YEARS OLD DURING THE YEAR UNDER CONSIDERA TION AND HAS EARNED THE INCOME FOR LAST 50 YEARS. HE HAS TAKEN THE INCOME AS PER BASIC EXEMPT ION LIMIT WITH THE VERY CONSERVATIVE APPROACH. HE HAD GIVEN THE AMOUNT OF INCOME MINIMU M LIABLE TO INCOME TAX FOR LAST 50 YEARS. ACCORDINGLY THE ACCUMULATED INCOME FOR 50 YEARS CO MES TO RS.8 81 150/- AND FINALLY THE LD. FIRST APPELLATE AUTHORITY HAS ACCEPTED THE EXPLANAT ION OF THE ASSESSEE BY HOLDING THAT THE INVESTMENT IN DISPUTE COULD BE OUT OF HIS PAST SAVI NGS. THE LD. FIRST APPELLATE AUTHORITY HAS ALSO SUPPORTED HER VIEW BY THE DECISION OF HONBLE GUJAR AT HIGH COURT IN THE CASE OF USHA KANT N. 3 PATEL VS. CIT (2006) 282 ITR 553 (GUJ). AFTER GOIN G THROUGH THE IMPUGNED ORDER PASSED BY THE LD. FIRST APPELLATE AUTHORITY WE ARE OF THE CONSID ERED OPINION THAT NO INTERFERENCE IS CALLED FOR IN THE SAME. WE DISMISS THE APPEAL FILED BY THE REVEN UE 5. IN THE RESULT APPEAL FILED BY THE REVENUE IS D ISMISSED. (ORDER PRONOUNCED IN THE OPEN COURT ON 25.02.2011) . SD/- SD/- (P.K. BANSAL) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER PLACE: AGRA DATE: 25 TH FEBRUARY 2011 PBN/* COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT BY ORDER 3. CIT CONCERNED 4. CIT (APPEALS) CONCERNED 5. DR ITAT AGRA BENCH AGRA 6. GUARD FILE ASSIST ANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL AGRA TRUE COPY