Assessee's Appeal Partly Allowed with Relief for Specific Amount under Section 69A The appeal filed by the assessee was partly allowed, with relief granted for a specific amount and the remaining addition confirmed under section 69A of ...
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Assessee's Appeal Partly Allowed with Relief for Specific Amount under Section 69A
The appeal filed by the assessee was partly allowed, with relief granted for a specific amount and the remaining addition confirmed under section 69A of the Act for A.Y. 2011-12. The Tribunal addressed the delay in filing the appeal, directed the calculation of interest as per law, and mentioned the necessary action to be taken for the remaining amount regarding the initiation of penalty under section 271(1)(c) of the Act. The judgment was pronounced on 22/01/2018 by the Appellate Tribunal ITAT Ahmedabad.
Issues Involved: 1. Addition u/s.69A of the Act for A.Y. 2011-12 2. Delay in filing the appeal 3. Levying interest u/s 234A/B/C/D of the Act 4. Initiating penalty u/s.271(1)(c) of the Act
Analysis:
1. Addition u/s.69A of the Act for A.Y. 2011-12: The case involved an appeal by the assessee against the order confirming the addition of &8377; 6,79,900/- u/s.69A of the Act for A.Y. 2011-12. The assessee explained that the cash deposits were sourced from family funds, including gifts given to a handicapped son. However, the AO was not satisfied and made the addition. The Appellate Tribunal noted the explanations provided but found discrepancies in the daughter's bank account withdrawals and the cash deposits in the appellant's account. Relief was granted for a specific amount given for charity, while the remaining addition was confirmed u/s.69A.
2. Delay in filing the appeal: There was a delay of 127 days in filing the appeal, which the appellant supported with an affidavit. The Tribunal agreed with the explanation provided and condoned the delay, allowing the appeal to proceed.
3. Levying interest u/s 234A/B/C/D of the Act: The Tribunal directed the AO to calculate the interest as per law, addressing the issue raised regarding the levying of interest under various sections of the Act.
4. Initiating penalty u/s.271(1)(c) of the Act: The Tribunal mentioned that for the remaining amount above the relief granted, the AO would take necessary action as per law concerning the initiation of penalty u/s.271(1)(c) of the Act.
In conclusion, the appeal filed by the assessee was partly allowed, with relief granted for a specific amount and the remaining addition confirmed u/s.69A. The Tribunal addressed the delay in filing the appeal, directed the calculation of interest as per law, and mentioned the necessary action to be taken for the remaining amount regarding the initiation of penalty. The judgment was pronounced on 22/01/2018 by the Appellate Tribunal ITAT Ahmedabad.
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