Income Tax Appellate Tribunal - Pune
Shri Radheyshyam R.Agarwal, Pune vs Department Of Income Tax on 26 December, 2011
IN THE INCOME TAX APPELLATE TRIBUNAL
Pune Bench B, Pune
Before Shri Shailendra Kumar Yadav, Judicial Member
and Shri D. Karunakara Rao, Accountant Member
I.T.A. No. 885/PN/2010 : A.Y. 1998-99
I.T.O. Ward 2(3) Pune Appellant
Vs.
Radheshyam R. Agarwal
25/37/1 Vishrantwadi,
Pune-411 015
PAN AAOPA 7152 M Respondent
Appellant by: Smt. Neera Malhotra
Respondent by: Shri Nikhil Pathak
Date of hearing: 26-12-2011
Date of pronouncement: 30-12-2011
ORDER
PER SHAILENDRA KUMAR YADAV, JM
This appeal by the department is directed against the orders of the CIT-(A)-II Pune dated 19-3-2010 for A.Y. 1998-99 deleting the addition of Rs. 9,61,990/- made by the Assessing Officer u/s 68 of the Act on account of unexplained money/investment in respect of the bogus sales of diamonds. .
2. At the outset of hearing, the learned counsel for the assessee pointed out that the issue raised in this appeal is fully covered by the decision of co-ordinate Bench of the Tribunal in the case of Asstt. CIT Vs. Mrs. Gunwanti Omprakash Ranka in ITA No. 665/PN/2009 for AY. 1998- 99 wherein vide its order dated 30-9-2010 the Tribunal has 2 ITA No.885/PN/2010 Radheshyam R Agarwal A.Y. 1998-99 decided the issue in favour of the assessee and against the department. Similarly, the issue is covered by the decision of ITAT Jaipur Bench of the Tribunal in the case of Balbhim Dattatray shinde and Shri Bhagwan Duttatray shinde in ITA No. 1362 and 1364 of 2005 vide order dated 31-8-2007 and also by the judgment of Bombay High Court in the case of CIT Vs. Uttamchand Jain (2010) 320 ITR 554 (Bom). In this view of the matter, we do not find any infirmity in the order of the CIT(A). We uphold the same.
3. In the result, the appeal of the revenue is dismissed.
Decision pronounced in the open court on 30-12-2011.
Sd/- sd/- D. KARUNAKARA RAO SHAILENDRA KUMAR YADAV Accountant Member Judicial Member
Pune dated the 30th December 2011 Ankam Copy of the order is forwarded to :
1. The Appellant
2. The Respondent
3. The CIT-(A)- II Pune
4. The CIT II Pune
5. The D.R, ITAT Pune Bench, Pune
6. Guard File By order Sr. Private Secretary Income Tax Appellate Tribunal