Income Tax Appellate Tribunal - Kolkata
Md. Akhtar Hussain, Kolkata vs Department Of Income Tax
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IN THE INCOME TAX APPELLATE TRIBUNAL,
KOLKATA 'B' BENCH, KOLKATA
Before Shri Pramod Kumar (Accountant Member),
and Shri George Mathan (Judicial Member)
I. T.A. No.: 172 8/ Kol. / 2 011
Asse ssment yea r : 20 07-08
In come Tax Officer, ........................................A ppellan t
Ward-53(3),
Aayaka r Bh avan, Dakshin,
2, Ga riahat Road (S outh), 2 n d floo r,
Kolka ta-700 068
-Vs.-
Md. Akhtar Huss ain,................................. ......Resp ondent
G-38/2 , Bangla Ba sti , Ga rd en R each,
Kolka ta-700 024
[PAN : ABLPH 6394 J]
Appearances by:
Shri D.J. Mehata, Sr.D.R. for the appellant
Shri Shital Khemka, for the respondent
Date of co ncluding t he hea ri ng : August 08, 2 012
Date of prono unci ng the o rde r : August 08, 2 012
O R D E R
Per George Mathan :
1. This is an appeal filed by the Revenue against the order of ld.
Commissioner of Income Tax (Appeals)-XXXIII, Kolkata in Appeal No. 244/CIT(A)-XXXIII/Wd.53(3)/09-10 dated 28.09.2011, for the assessment year 2007-08.
2. 2. In Revenue's appeal, the revenue has raised the following ground:-
I . T. A . N o . 1 7 2 8 / K o l . / 2 0 11 A s s e s s m e nt y e a r : 2 0 0 7- 0 8 Page 2 of 4 "Th e ld. CIT(A) ha s erred in d el eting Rs.9,39,113/- in the b ank acc ount remai n ed un explained u/s. 69 of the Incom e Tax Ac t, 1961".
3. Shri D.J. Mehata, ld. Sr. D.R. represented on behalf of the revenue and Shri Shital Khemka, C.A. represented on behalf of the assessee.
4. It was submitted by the ld. D.R. that in the course of assessment, it was noticed that the assessee had deposited Rs.13,42,850/- in his Bank A/c. in the Standard Chartered Bank, Chowringhee Road, Kolkata. The assessee has been asked to explain the cash deposits. The assessee had explained that the amounts were from business transactions as also cash withdrawn from his Savings A/c. The explanation given by the assessee had not been accepted by the Assessing Officer and an addition of Rs.9,99,113/- had been made. It was the submission that on appeal, the ld. CIT(Appeals) had accepted the explanation of the assessee that there were withdrawals from the three Bank accounts of nearly Rs.12,09,000/- and part of this had been deposited in his Bank a/c. It was the submission that the ld. CIT(Appeals) erred in deletin g the addition made by the Assessing Officer. The ld. D.R. vehemently supported the order of the Assessing Officer.
5. In reply, ld. A.R. vehemently supported the order of the ld. CIT(Appeals). He drew our attention to paras 6 & 7 of the order of the ld. CIT(Appeals), wherein the ld. CIT(Appeals) had verified the combined statement of cash transactions in the three Bank accounts maintained by the assessee, which shows that the cash withdrawals from the three Savings Bank accounts were to the extent of I . T. A . N o . 1 7 2 8 / K o l . / 2 0 11 A s s e s s m e nt y e a r : 2 0 0 7- 0 8 Page 3 of 4 Rs.12,09,688/- and the withdrawals from business were to the extent of Rs.8,44,737/-. It was the submission that the assessee had explained the deposits in the bank accounts. It was the submission that the order of the ld. CIT(Appeals) is liable to be confirmed.
6. We have considered the rival submissions. A perusal of the assessment order clearly shows that the assessee had specifically explained that the amounts dep osited were out of business funds as also out of the withdrawals made from his other bank accounts. This submission of the assessee has been brushed aside by the Assessing Officer. A perusal of the order of the ld. CIT(Appeals) shows that the ld. CIT(Appeals) has clearly verified the correctness of the claim based on the combined statement of the cash transactions in the Savings Bank A/c. It is after verifying the said combined statement that the ld. CIT(Appeals) has deleted the addition. This verification was done by the ld. CIT(Appeals) and has not been dislodged by the Revenue. In these circumstances, we are of the view that the finding of the ld. CIT(Appeals) on the issue in deleting the addition is on right footing and does not call for any interference. In these circumstances, the appeal of the revenue stands dismissed.
7. In the result, the appeal of the revenu e is dismissed.
Order pronounced in the open Court on 8 t h August, 2012.
Sd/- Sd/-
Pramod Kumar George Mathan
(Accountant Member) (Judicial Member)
Kolkata, the 8 t h day of August, 2012
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Copies to : (1) Th e app ell ant
(2) Th e respon dent
(3) CIT
(4) CIT(A)
(5) Th e D ep artment al Rep resentativ e
(6) Guard File
By order etc
Assis tant Registrar
Income Tax Appe llate Tribunal
Kolkata benches, Kolkata
Laha/Sr. P.S.