KULANAND PANDEY,JAMSHEDPUR vs. ITO,WARD-2(4), JAMSHEDPUR

1 ITA No.163/Ran/2015

IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI BENCH, RANCHI

BEFORE SHRI N.S.SAINI, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA No.163/Ran/2015 A.Y. : 2007-2008 Kulanand Pandey, vs ITO Ward-2(4), C/o-CA Nawal Kishore Bagmati Road, Mahato, Flat No.401, 4th Bistupmur, Floor, K.C.Apartment, 137 Jamshedpur-831001 Ambagan Road, Sakchi, Jamshedpur-831001 PAN No. : AFQPP 1788 P Respondent (Appellant) .

Assessee by :None Revenue by :Shri P.K.Mondal, JCIT

Date of Hearing : 24.05.2018 Date of Pronouncement : 25.05.2018

O R D E R Per Pavan Kumar Gadale, JM: This is an appeal filed by the assessee against the order of CIT(A),

Jamshedpur, dated 27.08.2015, for the assessment year 2007-08.

filed an application dated 26.02.2016 for condoantion of delay. Considering

the facts and circumstances of the case, we condone the delay of 7 days in

filing the present appeal and appeal is heard finally.

neither any adjournment application has been filed by the assessee,

2 ITA No.163/Ran/2015 therefore, the Bench proceeded to disposed off the appeal considering the

submissions of ld. DR and the material available on record.

erred in confirming the addition made u/s.68 of the Act.

salary/pension from LIC and share income from Demat account and filed

return of income on 26.07.2007 with total income of Rs.1,59,350/-. The

return of income was processed u/s.143(1) of the Act. Subsequently the

case was selected for scrutiny on CASS and notices u/s.143(2) & 142(1) of

the Act were issued to the assessee. In compliance, the AR of the

assessee appeared from time to time. Thereafter the AO completed the

assessment and made the addition of Rs.20,25,000/- u/s.68 of the Act and

assessed total income at Rs.21,84,360/- and passed order u/s.143(3) of

the Act.

appeal with the CIT(A). In the appellate proceedings ld. AR of the

assessee argued the grounds and reiterated the submissions and ld.CIT(A)

having considered the findings and the submissions of the assessee dealt

on the disputed issue and dismissed the appeal of the assessee.

before the Tribunal.

other hand, submitted that the assessee has not complied the requisite

3 ITA No.163/Ran/2015 details before the AO, nor in the appellate proceedings, therefore, the

appeal of the assessee deserves to be dismissed.

record. Prima facie, on perusal of the assessment order we found that the

AO has made addition u/s.68 of the Act in respect of cash deposits made

in the assessee’s bank account and it was submitted that the assessee

was required to make submission in respect of the source but it was stated

that the assessee has explained earlier that deposits are made by the

assessee’s son-in-law and the submissions made in the grounds of appeal

that the son-in-law has taken temporary loan from his father-in-law and the

amount has been returned to the assessee as the assessee had to

purchase a flat during the year, without considering the above facts the AO

made the addition. However, in the AO’s order, these facts have not been

considered. Therefore, considering the facts and circumstances of the case

and the submissions of the assessee and in the interest of substantial

justice, we are of the opinion that the matter needs to be relooked upon the

disputed issue. Hence, we remit the disputed issue to the file of AO, who

shall examine and verify the facts submitted by the assessee before the

Tribunal. It is nevertheless to say that the assessee shall be provided

adequate opportunity of hearing and the assessee is also directed to

cooperate in submitting the information before the AO. Accordingly, we

allow this ground of appeal of assessee for statistical purposes.

4 ITA No.163/Ran/2015

purposes.

Order pronounced in the open court on 25/05 /2018

Sd/- Sd/- (N.S.SAINI) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER Ranchi, Dated 25/05/2018 Prakash Kumar Mishra , Sr. Ps Copy of the Order forwarded to : 1. The Appellant – 2. The Respondent – 3. The CIT(A) concerned 4. CIT , concerned 5. DR, ITAT, Ranchi BY ORDER, 6. Guard file.

//True Copy// SR.PS, ITAT, RANCHI