MR. ARUN KUMAR GUPTA,NEW DELHI vs. ACIT, MEERUT

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ITA 4413/DEL/2014Status: DisposedITAT Delhi06 October 2015AY 2009-103 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the facts of this case were identical to that of the assessee's son, whose appeal was previously restored to the AO. Therefore, the Tribunal set aside the impugned order and sent the matter back to the AO for fresh adjudication.

What were the facts?

During a search operation, unexplained cash of Rs. 40.44 lac was found from the assessee and his son. The Assessing Officer made an addition of Rs. 1,57,654/- on account of unexplained cash in the hands of the assessee.

What were the issues?

Whether the addition of unexplained cash in the hands of the assessee was justified, considering the identical facts as in the case of his son.

Which sections of the Income-tax Act were involved?

Section 69A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : SMC-I : NEW DELHI

Before: SHRI R.S. SYAL

For Appellant: Shri Prashant Narang, CA
For Respondent: Shri S.L. Anuragi, Sr.DR
Hearing: 01.10.2015Pronounced: 06.10.2015

(Appellant) (Respondent) Appellant by : Shri Prashant Narang, CA Respondent by: Shri S.L. Anuragi, Sr.DR Date of Hearing : 01.10.2015 Date of Pronouncement: 06.10.2015 ORDER

This appeal by the assessee is directed against the order passed by the CIT(A) on 19.05.2014 in relation to the Assessment Year 2009-10.

2.

The only issue raised in this appeal is against confirmation of addition of Rs.1,57,654/-.

3.

Briefly stated, the facts of the case are that a search and seizure operation u/s 132 was conducted on 6.2.2009 in the cases of Supertech & Crossing Infrastructure groups of Ghaziabad and at the residences of directors of the companies, namely, M/s Crossing Infrastructure (P)

Ltd., and M/s Surya Merchants Ltd. Cash of Rs.40.44 lac was found from Shri Arun Gupta, the assessee in question and Goldy Gupta, S/o the assessee. After making certain adjustments, an addition of Rs.1,57,654/- was made on account of unexplained cash u/s 69A in the hands of the assessee. Simultaneously, an addition of Rs.6,57,620/- was made in the hands of Shri Goldy Gupta. The addition so made by the AO has been confirmed in the first appeal. The assessee is aggrieved against this confirmation of addition.

4.

I have heard the rival submissions and perused the relevant material on record. It is observed that the case of Shri Goldy Gupta came up for consideration before the Tribunal in ITA No.4411/Del/2014. Vide its order dated 31.8.2015, the Tribunal has restored the matter to the file of AO for examining the veracity of the statements and then disposing of the appeal, after allowing an opportunity of hearing. Both the sides are in agreement that the facts and circumstances of the instant addition made in the hands of the assessee amounting to Rs.1,57,654/- are identical with those of Shri Goldy Gupta. Respectfully following the precedent, I set aside the impugned order and send the matter back to the file of AO for deciding this issue afresh in conformity with the directions given by the Tribunal in the case of Shri Goldy Gupta.

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