Anita S. Katara, Mumbai vs Assessee

आयकर अपील य अ धकरण, मंब ु ई IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES 'A' MUMBAI सव ी आय.पी. बंसल, या यक सद य एवं डी. क णाकर राव,ु लेखा सद य

BEFORE SHRI I.P. BANSAL, JUDICIAL MEMBER AND

SHRI D.KARUNAKARA RAO, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.1788/MUM/2013 नधा रण वष /Assessment Year 2006-07 Mrs. Anita S. Katara, बनाम/ The ITO-19(3)(1), 1205-C Wing, Raheja 3rd Floor, Piramal Chambers, Vs. Sherwood, Lalbaug, Parel, Near NSE Grounds, Mumbai 400063 Goregaon (East), Mumbai 400063 थायी ले खा सं . /जीआइआर सं . /PAN/GIR No. : AHBPK0947N (अपीलाथ /Appellant) .. ( यथ / Respondent)

Appellant by Ms. Mrugakshi K. Joshi Respondent by Shri Jeevanlal Lavidiya सनु वाई क" तार$ख / Da te o f Hearing : 08/06/2015 घोषणा क" तार$ख /Date of Pronouncement : 08/06/2015 आदे श / O R D E R

PER I.P.BANSAL, J.M:

This is an appeal filed by the assessee and it is directed against order passed by Ld. CIT(A) -18, Mumbai dated11.01.2013 for assessment year 2006-

07. Grounds of appeal read as under:

"On the facts and circumstances of the case and in law:

1. The learned CIT(A) erred in upholding the penalty levied by the learned Assessing Officer of Rs.3,67,985/- u/s.271(1)(c) of the Income tax Act, 1961, in respect of disallowance of genuine gifts received by the Assessee from her sister, under section 68 of the Income Tax Act, 1961.

2. The impugned penalty has been levied on the addition of Rs.7,90,000/-

and Rs.1,55,000/-, which were added to the income of the assessee being unexplained cash credit.

2 आयकर अपील सं. / ITA No.1788/MUM/2013 नधा रण वष /Assessment Year 2006-07

3. During the course of hearing, it was brought to our notice that the impugned addition on which the penalty has been levied was set aside by the Tribunal to the file of AO vide order dated 21/2/2012 in ITA No.3294/Mum/2011 with the following observations:

3. We have considered the issue and are of the opinion that the matter is to be re-

examined by the Assessing Officer afresh. The contention that the provisions of section 56(1)(v) regarding the amount received from the relative was not there before Revenue authorities. Moreover it is to be established that the person who gifted money is assessee's sister as claimed. It was also to be established that the said sister is working as Dentist in U.K. The audit certificate placed before the CIT (A) with reference to the creditworthiness should have been admitted and examined by the CIT (A) which was not done. Therefore, without going to the merits of various claims, we restore the issue to the file of the Assessing Officer to consider the additional evidence filed before the CIT (A) and also examine other contentions afresh. The assessee is directed to furnish the necessary evidence to the Assessing Officer to substantiate the claims. Needless to state that adequate opportunity should be given to assessee in the consequential assessment proceedings. With these directions the issue of gift is restored to the file of the Assessing Officer to examine afresh on the basis of facts and law.

4. It was further brought to our notice that in pursuance to aforementioned order of the Tribunal, the AO has considered this issue and after examining the evidence submitted by the assessee addition has been deleted and returned income of the assessee has been accepted. Reference in this regard was made to order passed by AO dated 30/11/2012, copy of which was placed on our record and was also given to Ld. DR.

5. In this view of the situation, after hearing both the parties we delete the impugned penalty and appeal filed by the assessee is allowed.

Order pronounced in the open court on 08/06/2015 आदे श क" घोषणा खुले यायालय म* +दनांकः 08/06/2015 को क" गई ।

Sd/- Sd/- (डी. क णाकर रावु / D.KARUNAKARA RAO) (आय.पी. बंसल / I.P. BANSAL) लेखा सद य / ACCOUNTANT MEMBER या यक सद य / JUDICIAL MEMBER मंब ु ई Mumbai; +दनांक Dated 08/06/2015 3 आयकर अपील सं. / ITA No.1788/MUM/2013 नधा रण वष /Assessment Year 2006-07

आदे श क त ल प अ!े षत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent. 3. आयकर आयु/त(अपील) / The CIT(A)- 4. आयकर आय/ ु त / CIT 5. 0वभागीय त न2ध, आयकर अपील$य अ2धकरण, मंब ु ई / DR, ITAT, Mumbai 6. गाड फाईल / Guard file.

आदे शानुसार/ BY ORDER, स या0पत त //True Copy//

उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील य अ धकरण, मुंबई / ITAT, Mumbai व. न.स./Vm, Sr. PS