Mr Vinod Kumar Khanna, New Delhi v. ITO, New Delhi

ITA 1332/DEL/2010 | 2005-2006
Pronouncement Date: 26-05-2010 | Result: Allowed

Appeal Details

RSA Number 133220114 RSA 2010
Assessee PAN DELOF2010A
Bench Delhi
Appeal Number ITA 1332/DEL/2010
Duration Of Justice 2 month(s)
Appellant Mr Vinod Kumar Khanna, New Delhi
Respondent ITO, New Delhi
Appeal Type Income Tax Appeal
Pronouncement Date 26-05-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted H
Tribunal Order Date 26-05-2010
Assessment Year 2005-2006
Appeal Filed On 26-03-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH `H: NEW DELHI BEFORE SHRI C.L.SETHI JM & SHRI R.C. SHARMA AM I.T. A. NO.1332/DEL OF 2010 ASSESSMENT YEAR: 2005-06 MR. VINOD KUMAR KHANNA INCOME-TAX OFFICER C-676 NEW FRIENDS COLONY VS WARD 14(1) NEW DELH I. NEW DELHI. PAN : AABPK7720N APPELLANT RESPONDENT APPELLANT BY: SHRI AMIT AGGARWAL CA RESPONDENT BY: MRS. MONA MOHANTY SR. DR ORDER ER C.L. SETHI JM: THE ASSESSEE IS IN APPEAL AGAINST THE ORDER DATED 2 7.1.2010 PASSED BY THE LD. CIT(A) IN THE MATTER OF AN ASSESSMENT MADE BY THE AO U/S 144 OF THE INCOME-TAX ACT 1961 (THE ACT) FOR THE ASSTT. YEAR 2005-06. THE ONLY ISSUE INVOLVED IN THIS APPEAL IS WITH REGARD TO THE ADDIT ION OF RS.22 LACS ON ACCOUNT OF INVESTMENT MADE IN MUTUAL FUND MADE BY THE AO IN THE LIGHT OF THE AIR DATA AVAILABLE WITH THE AO/ 2. WE HAVE HEARD BOTH THE PARTIES. THE ORDERS OF T HE AUTHORITIES BELOW HAVE BEEN CAREFULLY PERUSED. 2 3. IN THIS CASE THE AO HAS COMPLETED THE ASSESSMEN T TO THE BEST OF HIS JUDGMENT U/S 144 OF THE ACT WHERE HE MADE THE ADDI TION OF RS.22 LACS ON ACCOUNT OF INVESTMENT MADE IN MUTUAL FUNDS IN THE H ANDS OF THE ASSESSEE. THE LD. CIT(A) HAS CONFIRMED THE AOS ORDER AS NONE FOR THE ASSESSEE HAD APPEARED BEFORE HIM AND HAS OFFERED ANY EXPLANATIO N TO THE SOURCE OF INVESTMENT OF RS.22 LACS. IN THE COURSE OF HEARING OF THIS APPEAL THE LEARNED COUNSEL FOR THE ASSESSEE HAS POINTED OUT THAT THE P RESENT ASSESSEE AS WELL AS HIS WIFE ARE ASSESSED AT MUMBAI UNDER PAN AABPK772 0N AND AAPKG3938G RESPECTIVELY AND THE INVESTMENT MADE IN THE MUTUAL FUND HAS BEEN DISCLOSED IN THE HANDS OF WIFE AND ALL TH E INVESTMENTS MADE BY HIS WIFE AND BY HIM WERE MADE JOINTLY. HE THEREFORE SUBMITTED THAT ALL THESE FACTS HAVE NOT BEEN EXAMINED AND VERIFIED BY THE AO FROM THE AIR INFORMATION WHERE PERMANENT ACCOUNT NUMBER OF THE ASSESSEE AND HIS WIFE WERE DULY GIVEN. 4. IN THE LIGHT OF THE AFORESAID FACTS WE FIND IT FIT AND PROPER TOT LET THE ASSESSMENT GO BACK TO THE AO FOR HIS FRESH ADJUDICA TION AND ASSESSMENT AFTER PROVIDING REASONABLE OPPORTUNITY OF BEING HEA RD TO THE ASSESSEE. WE FURTHER DIRECT THE ASSESSEE TO FURNISH ALL RELEVANT DETAILS AND PARTICULARS BEFORE THE AO WITHIN TWO MONTHS FROM THE END OF THE MONTH IN WHICH THIS ORDER IS RECEIVED BY THE ASSESSEE WITHOUT WAITING F OR RECEIVING ANY NOTICE OF 3 HEARING FROM THE AO. THE ASSESSEE SHALL COOPERATE W ITH THE AO BY FURNISHING ALL THE DETAILS IN FAILURE OF WHICH THE AO SHALL BE AT LIBERTY TO DECIDE THE MATTER ON THE BASIS OF MATERIAL AVAILABL E ON RECORD AND AS PER LAW. WE ORDER ACCORDINGLY. 5. IN THE RESULT APPEAL FILED BY THE ASSESSEE IS T REATED TO BE ALLOWED FOR A STATISTICAL PURPOSE. 6. THIS DECISION WAS PRONOUNCED IN THE OPEN COURT O N 26 TH MAY 2010 IMMEDIATELY AFTER THE HEARING WAS OVER. (R.C. SHARMA) (C.L. SETHI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 26 TH MAY 2010 VIJAY COPY TO: 1. APPELLANT. 2. RESPONDENT. 3. CIT 4. CIT(A)-XXIII NEW DELHI 5. DR ASSISTANT REGISTRAR 4