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Income Tax Appellate Tribunal, JAIPUR BENCHES,”B” JAIPUR
Before: SHRI RAMESH. C. SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 474 to 476/JP/2018
per these annexures. Hence the addition confirmed by Ld. CIT(A) is
uncalled for and be deleted. The ld. AR further pointed out that
assessee has separately offered a sum of Rs.1,35,00,000/- on the basis
of annexure A-2. The peak of annexure A-2 was only Rs.90,35,400/-.
However, the assessee offered Rs.1,35,00,000/- to cover the 48
ITA No. 474 to 476/JP/2018 Shri Banna Lal Jat vs. ACIT
discrepancies in other annexures. The difference as per various papers
of in this regard is only Rs.6,32,171/- which is covered by the extra
income offered in respect of annexure A-2. Hence no separate addition
in respect of these papers is called for. It is further submitted that
assessee has offered an income of Rs.2,80,00,000/- as per Annexure A-
2 which includes Rs.93,00,000/- on account of miscellaneous surrender.
Therefore, no separate addition of Rs.7,14,920/-should be made as the
same is covered by the disclosure already made by the assessee.
On the other hand, the ld. DR has relied upon the orders of the
authorities below.
We have considered the rival submissions as well as the relevant
material on record. The assessee in the statement recorded U/s 132(4)
of the Act has made surrendered of Rs. 1,67,00,000/- on account of
unaccounted expenditure of the assessee. During the course of the
assessment proceedings, the AO noted that the actual account of
expenditure recorded in the seized material is Rs. 1,73,72,171/- and
there is excess expenditure of Rs. 6,32,171/- which was added to the
income of the assessee. The ld.CIT(A) restricted the addition by apply
the NP @ 13.28% which comes to Rs. 83,952/-.We find that this
amount of Rs. 83,952/- is also covered by the miscellaneous 49
ITA No. 474 to 476/JP/2018 Shri Banna Lal Jat vs. ACIT surrendered of Rs. 93,00,000/- by the assessee on account of the surdry/irregularity in the accounts of the assessee. Accordingly without going into the other contention raised by the ld AR when this amount is also covered by the said miscellaneous surrendered the addition is not justified and the same is deleted.
In the result, theses appeals filed by the assessee are allowed. Order pronounced in the open court on 24/04/2019.
Sd/- Sd/- ¼ jes’k lh0 “kekZ ½ ¼fot; iky jko½ (Ramesh. C. Sharma) (Vijay Pal Rao) ys[kk lnL;@Accountant Member U;kf;d lnL;@Judicial Member Tk;iqj@Jaipur fnukad@Dated:- 24/04/2019. *Santosh. आदेश की प्रतिलिपि अग्रेf’ात@ब्वचल वf जीम वतकमत वितूंतकमक जवरू 1. vihykFkhZ@The Appellant- Shri Banna Lal Jat, Bhilwara. 2. izR;FkhZ@ The Respondent- ACIT, Central Circle, Ajmer. 3. vk;dj vk;qDr@ CIT 4. vk;dj vk;qDr@ CIT(A) 5. विभागीय प्रतिनिधि] आयकर अपीलीय अधिकरण] जयपुर@क्त्ए प्ज्Aज्ए Jंपचनत. 6. xkMZ QkbZy@ Guard File {ITA No. 474 to 476/JP/2018} vkns'kkuqlkj@ By order,
सहायक पंजीकार@Aेेज. त्महपेजतंत