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INCOME TAX OFFICER, WARD 35 (1) , NEW DELHI Versus MS. VINEETA KHANNA

2016 (4) TMI 165 - ITAT DELHI

Additions u/s. 68 - Held that:- CIT(A) has rightly deleted the addition in dispute, because the assessee has furnished satisfactory explanation in regard to the nature and source of each and every deposit made in cash / by cheque in her aforesaid bank accounts. Therefore, we do not find any infirmity in the well reasoned order passed by the Ld. CIT(A) on the issue - Decided in favour of assessee - ITA No. 3502/Del./2008 - Dated:- 1-3-2016 - SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, AC .....

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AO u/s. 68 of the I.T. Act. 2. In the facts and circumstances of the case, the Ld. CIT(A) has erred in admitting the additional evidence during the appellate proceedings without following the procedure and principle as per Rule 46A of the Act. 2. The brief facts of the case are that the Return of income was filed on 30.8.2005 at an income of ₹ 1,47,200/- and the same was processed u/s. 143(1). Subsequently, the case was picked up for scrutiny assessment and notice under section 143(2) was .....

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essee. 4. Aggrieved with the aforesaid order of the Ld. CIT(A), the Revenue is in appeal before the Tribunal. 5. At the time of hearing, Ld. DR has argued on the issue of raised in ground no. 2 regarding admission of additional evidence filed before the Ld. CIT(A) without following the procedure and principles laid down under Rule 46A of the Income Tax Rules, 1962. He also draw our attention towards the impugned order and stated that the Ld. CIT(A) has not given opportunity to the AO before rely .....

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case he relied upon the order of the AO and the addition made by the AO may be upheld. 6. On the other hand, Ld. Counsel of the Assessee stated that as regards the arguments advanced by the Ld. DR on the admission of additional evidence by the Ld. CIT(A) is concerned, he stated that the decision of Hon ble Jurisdictional High Court in the case of CIT vs. Manish Buildwell reported in 204 Taxmann vs. 106 (Del.) is not applicable in the present case. Because during the course of assessment proceed .....

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e, there is no violation of Rule 46A at all. As regards the merits of the case he relied upon the order of the Ld. CIT(A) and stated the same may be upheld. 7. We have heard both the parties and perused the records. As regards ground no. 2 relating to admission of additional evidence during the appellate proceedings is concerned, we find considerable cogency in the assessee s counsel contention that the decision of Hon ble Jurisdictional High Court in the case of CIT vs. Manish Buildwell reporte .....

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to Section 250(4) of the Income Tax, 1961 under which Ld. CIT(A) has called for the additional documents, which is permissible under the law, hence, there is no violation of Rule 46A at all. In view of the above, we dismiss the Ground No. 2 raised by the Revenue. 8. As regards the ground no. 1 relating to deletion of addition of ₹ 57,10,566/- is concerned, we find that Ld. CIT(A) has deliberately adjudicated the issue in dispute vide para nos. 6 to 6.9 at page no. 10 12 vide his impugned o .....

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his, however, cannot be taken as a sufficient ground for making such addition in the absence of any cogent reasons or evidence to the contrary brought on record. 6.1. During the course of the appellate proceedings, the appellant was, therefore, asked to furnish her explanation in regard to the nature and sources of trade in cash/by cheques in her aforesaid two bank accounts along with documentary evidence in support thereof. The appellant was also asked to submit the cash flow statement for the .....

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30.8.2005 declaring an income of ₹ 1,47,200/-. The Assessing Officer has completed the assessment on an amount of ₹ 58,57,766/- by adding all the credit entries whether made in cash or by cheque in the two bank accounts of the assessee referred above, without considering the explanation furnished by her during the course of the assessment proceedings and without taking into account the debit entries in the statement of account of the banks. 6.4. It has been submitted that the assesse .....

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ds the cheque entries in the Savings Bank Alc No. 935 with Canara Bank, Vasant Vihar Branch, it has been submitted that during the year under consideration, the assessee has made purchase of gold by cheque from M/s Khandelwal & Sons, part of which was sold to M/s Unique Gems and payment received by cheque. The corresponding debit and credit entries accordingly appear in the bank account. Copies of sale bills/purchase vouchers have been furnished in support. She has also done certain transact .....

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the cheque entries in the Savings Bank Account No. 76368 with Syndicate Bank, C-18, Paschimi Marg, New Delhi, from the perusal of the bank account it will be found that most of the cheques have bounced. It has been submitted that there are transactions with Mr. Chander Bhan and Mr. R. K. Kapoor. Confirmations of accounts alongwith PAN and assessment particulars have been furnished. As regards Mr. R.K. Kapoor, he is an NRI and copy of his passport and bank statement maintained with Syndicate Ban .....

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