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Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE
Before: SHRI R.S. SYAL
PER R.S.SYAL, VP : This appeal by the assessee arises out of the order passed
by the CIT(A)-2, Kolhapur on 13-04-2016 in relation to the
assessment year 2008-09.
The only issue raised in this appeal is against the
confirmation of addition of Rs.3,63,504/-, being, unexplained
investment made in purchase of a piece of land.
Briefly stated, the facts of the case are that the Assessing
Officer (AO) got information about the assessee having
2 ITA No.181/PUN/2019 Manik Bapu Kamble
purchased a plot of land for a sum of Rs.3,87,000/- on which
registration charges and stamp duty etc. were incurred making
total investment at Rs.4,10,660/-. On being called upon to
furnish the source of investment, the assessee submitted that he
was working as a Peon in Shri Swami Vivekanand Shikshan
Sanstha, Vivekanand College, Kolhapur and his take-home
salary for the year was Rs.47,156/- He further submitted that
the purchase of plot was made by utilizing his past savings from
salary, sale of gold and raising of hand-loans from his relatives
etc. Not convinced with the assessee’s submission, the AO
made an addition of Rs.3,63,504/- after allowing deduction of
Rs.47,156/-, being, take-home salary for the year from the total
amount spent on purchase of plot of land. The ld. CIT(A)
confirmed the addition.
Having heard both the sides and gone through the relevant
material on record, it is seen that the assessee is a Peon working
in a college at a meager salary of around Rs.4,000/- per month.
He made purchase of a plot for a sum of Rs.4,10,660/- including
stamp duty. In order to finance such a plot, he utilized his past
savings from salary for earlier years. He sold certain gold
jewellery and also raised certain loans. The AO has rejected the
3 ITA No.181/PUN/2019 Manik Bapu Kamble
explanation of the assessee without assigning any reasons.
Considering the entirety of the facts and circumstances of the
instant case, I find that the assessee has successfully tendered
explanation about the source of investment in the purchase of
plot. Overturning the impugned order, I order to delete the
addition of Rs.3,63,504/-.
In the result, the appeal is allowed. Order pronounced in the Open Court on 30th April, 2019.
Sd/- (R.S.SYAL) उपा�य� उपा�य�/ VICE PRESIDENT उपा�य� उपा�य�
पुणे Pune; �दनांक Dated : 30th April, 2019 सतीश आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत / Copy of the Order is forwarded to : क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत आदेश आदेश आदेश अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. आयकर आयु�(अपील) / 3. The CIT (Appeals)-2, Kolhapur 4. The Pr. CIT-2, Kolhapur िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे “SMC” / 5. DR ‘SMC’, ITAT, Pune; गाड� फाईल / Guard file. 6. // True copy // आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार
// True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune
ITA No.181/PUN/2019 Manik Bapu Kamble
Date 1. Draft dictated on 30-04-2019 Sr.PS 2. Draft placed before author 30-04-2019 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *