BHUPAL ANNA VIBHUTE,,KOLHAPUR vs. INCOME-TAX OFFICER, WARD - 2,, ICHALKARANJI

आदेश / ORDER

PER R.S.SYAL, VP :

This appeal by the assessee is directed against the order passed by the CIT(A)-2, Kolhapur on 05-02-2018 in relation to the assessment year 2003-04.

2 ITA No.465/PUN/2018 Bhupal A. Vibhute

148 of the Income-tax Act, 1961 (hereinafter also called `the

Act’), the assessee furnished a return declaring total income of

Rs.1,17,807/-. During the course of assessment proceedings,

the AO required the assessee to furnish details of the source of

repayment of loan of Rs.6,30,000/-. The assessee submitted

that a sum of Rs.5 lakhs was received as small gifts from his

friends and relatives for enabling him to repay the loan.

Details of the persons who gave gifts to the assessee were

submitted, which have been captured in para no. 6.1 of the

assessment order. The AO required the assessee to produce

the persons. Most of the persons were produced, all of whom

accepted the fact of having given gifts to the assessee. Not

convinced, the AO made addition. The ld. CIT(A) upheld the

same.

relevant material on record, it is observed that the assessee

received a sum of Rs.5 lakhs by way of small gifts from his

friends and relatives. All of such persons, except, Shri

Prakash B. Patil, were produced before the AO. They

accepted the fact of having given gifts to the assessee. The

AO doubted their genuineness on certain frivolous issues.

3 ITA No.465/PUN/2018 Bhupal A. Vibhute

Shri Prakash B. Patil, could not appear in person before the

AO, but furnished a confirmation letter on 13-12-2010

accepting the making of gift and a copy of his bank account to

support the withdrawal of cash and giving of gift. In my

considered opinion, the assessee cannot be said to have not

successfully discharged the burden cast upon him to prove the

genuineness of the credits. I, therefore, order to delete the

addition of Rs.5 lakhs.

against confirmation of addition of Rs.1,30,000/- made by the

AO.

submitted that a sum of Rs.1,30,000/- was received by him

from sale of plot of land. The AO did not accept the

explanation and made the addition, which came to be upheld

in the first appeal.

that the assessee categorically stated before the AO that he

sold a plot of land for Rs.1,30,000/-. A copy of Profit and loss

account of the assessee for the year under consideration also

4 ITA No.465/PUN/2018 Bhupal A. Vibhute

depicts the sale of plot amounting to Rs.1,30,000/-. Once the

income from sale of plot has been accepted by the AO, he

could not have rejected the explanation of the assessee towards

receipt of Rs.1,30,000/- for repayment of loan without any

valid reason. I, therefore, overturn the impugned order on this

score.

Sd/- (R.S.SYAL) उपा�य�/ VICE PRESIDENT उपा�य� उपा�य� उपा�य�

पुणे Pune; �दनांक Dated : 04th December, 2018 सतीश

आदेश आदेश क� आदेश आदेश क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत / Copy of the Order is forwarded to : क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत

// True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

ITA No.465/PUN/2018 Bhupal A. Vibhute

Date 1. Draft dictated on 03-12-18 Sr.PS 2. Draft placed before author 03-12-18 3. Draft proposed & placed before the second member 4. Draft discussed/approved by Second Member. 5. Approved Draft comes to the Sr.PS/PS 6. Kept for pronouncement on 7. File sent to the Bench Clerk 8. Date on which file goes to the AR 9. Date on which file goes to the Head Clerk. 10. Date of dispatch of Order. *