VASU KUMAR VADDI,MACHILIPATNAM vs. INCOME TAX OFFICER, WARD-1, MACHILIPATNAM
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Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM
Before: SHRI DUVVURU RL REDDY, HON‟BLE & SHRI S BALAKRISHNAN, HON‟BLE
Per contra, the Ld. Departmental Representative [“Ld. DR”] heavily relied on the orders of the Ld. Revenue Authorities and argued in support of the same.
We have heard both the sides and perused the material available on record as well as the orders of the Ld. Revenue Authorities. It is an admitted fact that the assessee has made cash deposits amounting to Rs. 1,25,94,308/- in the bank account of the assessee but has failed to file the return of income during the impugned assessment year. It is also noticed that the assessee has not appeared before the Ld. AO and submitted the evidences in support of his contention that the assessee does not have taxable income for the AY 2013-14. Section 249(4)(b) of the Act will be triggered only when there is an obligation cast upon the assessee to pay advance tax. The assessee in his reply to the Ld. CIT(A)-NFAC, dated 11/11/2023, has stated that he does not have any taxable income for the AY 2013-14. We also find that the assessee has not utilized the opportunity as per the proviso to section 249(4) of the Act to make an application to the Ld. CIT(A)-NFAC citing good and sufficient reason to be recorded in
7 writing exempting him from the operation of the aforesaid statutory provisions. We therefore are of the considered view that it is a fit case to be remitted back to the file of the Ld. AO to examine the facts by providing one more opportunity of being heard to the assessee and decide the case in accordance with law. We therefore set-aside the order of the Ld. CIT(A)-NFAC and remit the matter back to the file of the Ld. AO for fresh adjudication as above. Accordingly, the grounds raised by the assessee are allowed for statistical purposes.
In the result, appeal of the assessee (ITA No. 20/Viz/2024) is allowed for statistical purposes as indicated herein above.
ITA No. 21/Viz/2024 (AY 2013-14)
Since the grounds raised in quantum appeal of the assessee in ITA No. 20/Viz/224 (AY 2013-14) (supra) are allowed for statistical purposes and remitted the matter back to the file of the Ld. AO for fresh adjudication, this penalty appeal being consequential in nature is also being remitted back to the file of the Ld.AO. Accordingly, the grounds raised in this appeal (ITA No. 21/Viz/2024) are allowed for statistical purposes.
8 7. In the result, appeal of the assessee (ITA No. 21/Viz/2024) is allowed for statistical purposes. 8. Ex-consequenti, both the appeals of the assessee are allowed for statistical purposes.
Pronounced in the open Court on 25th June, 2024.
Sd/- Sd/- (दुव्िूरु आर.एलरेड्डी) (एसबालाकृष्णन) (DUVVURU RL REDDY) (S.BALAKRISHNAN) न्याधयकसदस्य/JUDICIAL MEMBER लेखासदस्य/ACCOUNTANT MEMBER Dated : 25.06.2024 OKK - SPS Copy of the order forwarded to:- धनधााररती/ 1. The Assessee–Vasu Kumar Vaddi, 16/372-16-1, Valandapalem, Industrial Estate Road, Machilipatnam – 521002, Andhra Pradesh. राजस्ि/The Revenue –Income Tax Officer, Ward-1, Machilipatnam. 2. 3. The Principal Commissioner of Income Tax, आयकरआयुक्त (अपील)/ The Commissioner of Income Tax 4. धिभागीयप्रधतधनधध, आयकरअपीलीयअधधकरण, धिशाखापटणम/ 5. DR,ITAT, Visakhapatnam गाडाफ़ाईल / Guard file 6. आदेशानुसार / BY ORDER
Sr. Private Secretary ITAT, Visakhapatnam
