Smt. Budwanti Devi Parihar, JODHPUR v. ITO, JODHPUR

ITA 463/JODH/2010 | 2007-2008
Pronouncement Date: 11-02-2011 | Result: Allowed

Appeal Details

RSA Number 46323314 RSA 2010
Assessee PAN AAOPP8382L
Bench Jodhpur
Appeal Number ITA 463/JODH/2010
Duration Of Justice 5 month(s) 22 day(s)
Appellant Smt. Budwanti Devi Parihar, JODHPUR
Respondent ITO, JODHPUR
Appeal Type Income Tax Appeal
Pronouncement Date 11-02-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted SMC
Tribunal Order Date 11-02-2011
Date Of Final Hearing 08-02-2011
Next Hearing Date 08-02-2011
Assessment Year 2007-2008
Appeal Filed On 20-08-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH JODHPUR BEFORE SHRI S.V. MEHROTRA ACCOUNTANT MEMBER AND SHRI V.D. RAO JUDICIAL MEMBER ITA NO: 463 / JU / 2010 ASSTT. YEAR: 2007 2008 SMT. BUDWANTI DEVI PARIHAR V/S INCOME-TAX OFFICER JODHPUR. WARD-3(3) PAN: AAOPP 8382 L JODHPUR. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAJEND RA JAIN A.R. RESPONDENT BY : SHRI AMIT NIG AM D.R. ORDER PER V.D. RAO: JM THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDERS OF THE LD. CIT (A) JODHPUR DATED 2 ND JUNE 2010 RELATING TO THE ASSESSMENT YEAR 2007 2008. THE ASSESSEE HAS RAISE D THE FOLLOWING SOLE GROUND OF APPEAL BEFORE THE TRIBUNAL . 2 THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD. CIT (A) GROSSLY ERRED IN SUSTAINING AN ADDI TION OF RS. 1 77 070/- ON A/C OF CLOSING STOCK. 2. THE FACTS ARE IN BRIEF THAT THE ASSESSEE IS AN I NDIVIDUAL AND DEALS IN TRADING OF TIMBER IN HER PROPRIETARY CONCE RN M/S BALAJI BAMBOO MART JODHPUR. DURING THE ASSESSMENT PROCEE DINGS THE ASSESSEE PRODUCED CASH BOOK LEDGER BILL VOUCHERS DETAILS OF CLOSING STOCK AND BANK STATEMENT ETC. THE ASSESS ING OFFICER HAS NOTICED FROM THE DETAILS SUBMITTED BY THE ASSESSEE AS PER THE AUCTION BILL BOOK SALE OF SWAROOPGANJ FOREST DEPOT THE ASSESSEE HAS PRODUCED BAMBOO WORTH RS. 6 59 465/- AND THE SA ME WAS REMAINED WITH SWAROOPGANJ FOREST DEPOT. ACCORDING TO THE ASSESSING OFFICER THE ENTIRE ABOVE GOODS RS.6 59 46 5/- REMAINED WITH SWAROOPGANJ FOREST DEPOT ITSELF TILL THE END O F THE YEAR 31 ST MARCH 2007. AS PER THE LIST SUBMITTED BY THE ASSE SSEE THE CLOSING STOCK STOCK OF WORTH RS. 4 19 154/- AS LYING AT SWA ROOPGANJ FOREST DEPOT AS AGAINST THE PURCHASE VALUE OF RS. 6 59 465 /-. THE ASSESSING OFFICER HAS ASKED EXPLANATION WITH REGARD TO THE 3 DIFFERENCE OF CLOSING STOCK RS. 2 40 311/- BUT THE ASSESSEE HAS NOT GIVEN ANY SATISFACTORY EXPLANATION AND THE ASSESSIN G OFFICER HAS MADE AN ADDITION OF RS.2 40 311/- IN THE HANDS OF T HE ASSESSEE. ON APPEAL THE LD.CIT (A) CONFIRMED THE ORDER PASSED BY THE ASSESSING OFFICER. AS AGAINST THE ORDER OF THE LD. CIT (A) THE ASSESSEE CARRIED THE MATTER IN APPEAL BEFORE THE TR IBUNAL. 3. THE LEARNED COUNSEL FOR THE ASSESSEE HAS FILED A PAPER BOOK CONSISTING THE PAGE NOS. FROM 19 TO 21 AND SUBMITTE D THAT THE ASSESSEE HAS LIFTED SOME OF THE BAMBOO ITEMS FROM SWAROOPGANJ FOREST DEPOT BY PAYING FULL AMOUNT OF CONSIDERATION . ON THE OTHER HAND THE LD. D.R. HAS SUBMITTED THAT THE ASSESSEE H AS NOT GIVEN ANY EXPLANATION WITH REGARD TO LESSER CLOSING STOCK SHO WN BY THE ASSESSEE. 4. WE HAVE HEARD BOTH THE SIDES PERUSE THE RECORDS AND GONE TO THE ORDERS OF THE AUTHORITIES BELOW. 5. THE ONLY DISPUTE IN THIS APPEAL WITH REGARD TO T HE VALUE OF THE CLOSING STOCK AMOUNTING TO RS. 2 40 311/-. THE LEA RNED COUNSEL FOR THE ASSESSEE HAS SUBMITTED BEFORE US THAT OUT OF TH E STOCK 4 PURCHASED FROM THE TIMBER DEPOT THE ASSESSEE ALREA DY LIFTED SOME OF THE ITEMS WHICH HE HAS POINTED OUT FROM THE PAPE R BOOK-2 FROM PAGE NOS. 19 TO 21. WE FIND THAT THE ABOVE EXPLANA TION SUBMITTED BEFORE US THE ASSESSEE NEITHER SUBMITTED BEFOFE THE AO NOR BEFORE THE CIT (A) AND THE PAPER BOOK FILED BY THE ASSESSE E REQUIRES VERIFICATION FROM THE AO. WE THEREFORE SET ASIDE THE ORDER PASSED BY THE LD. CIT (A) AND REMIT THE ISSUE BACK TO THE FILE OF THE ASSESSING OFFICER TO CONSIDER THE PAPER BOOK-2 FRO M PAGE NOS. 19 TO 21 AND DECIDE THE ISSUE FRESH AFTER BEING GIVEN THE REASONABLE OPPORTUNITY TO THE ASSESSEE. 6. IN THE RESULT THIS APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. 7. O RDER WAS PASSED IN THE OPEN COURT DATED ON 11 TH FEBRUARY 2011. SD/- SD/- (S.V. MEHROTRA) (V.D. RAO) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 11 TH FEBRUARY 2011 KAMAL KUMAR COPY FORWARDED TO:- 1. APPELLANT 2. RESPONDENT 5 3. INCOME-TAX OFFICER 4. CIT 5. D/R 6. GUARD FILE