Kannayalal C. Manwani, Nashik vs Assistant Commissioner of Income-tax.

आयकर आयकर आयकर आयकर अपीलीय अपीलीय अपीलीय अपीलीय अिधकरण अिधकरण अिधकरण अिधकरण, पुणे पुणे पुणे पुणे
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यायपीठ “ए” पुणे पुणे पुणे पुणे मममम IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE ी ी ी ी डी डी डी डी. क णाकरा क णाकरा क णाकरा क णाकरा राव राव राव राव , लेखा लेखा लेखा लेखा सदय सदय सदय सदय एवं एवं एवं एवं ी ी ी ी िवकास िवकास िवकास िवकास अवथी अवथी अवथी अवथी,
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याियक सदय सदय सदय सदय केकेकेके सम सम सम सम BEFORE SHRI D.KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर आयकर आयकर आयकर अपील अपील अपील अपील संसंसंसं. / ITA Nos.1390 & 1391/PUN/2015 िनधारण िनधारण िनधारण िनधारण वष वष वष वष / Assessment Years : 2009-10 & 2010-11 Shri Kannayalal C.

Manwani, 7A, Holaram Colony, Sadhy Waswani Road, Nashik – 422002 PAN : AEGPM7310B …. अपीलाथ/Appellant Vs.

ACIT, Central Circle-1, Nashik ….  यथ / Respondent अपीलाथ क ओर से / Appellant by : Shri Sanket Joshi
थ की ओर से / Respondent by : Shri Ajay Modi सुनवाई क तारीख / Date of Hearing : 26.10.2017 घोषणा क तारीख / Date of Pronouncement:27.10.2017 आदेश आदेश आदेश आदेश / ORDER PER D.

KARUNAKARA RAO, AM : There are 2 appeals under consideration filed by the assessee for the A.Yrs.

2009-10 and 2010-11.

They relate to levy of interest u/s.234B of the Act qua the seized cash.

In both the appeals, assessee raised an identical grounds stating that it is a case where there was action u/s.132 of the Act which resulted in the discovery of seizure of cash.

The said cash was not adjusted towards the advance tax liability of the assessee for both the assessment years under consideration.

2.

In the grounds, assessee is aggrieved with the order of the AO in charging the said interest while making the assessment when the assessee’s seized cash is with the Revenue.

CIT(A) confirmed the said order of the AO.

Aggrieved with the same, the assessee is in appeal before us for both the assessment years.

ITA Nos.

1390 & 1391/PUN/2015 Shri Kannayalal C.

Manwani 2 3. nwani 2 3.

At the outset, Ld.

Counsel for the assessee filed a letter stating the following : “The above appeals have been filed by the assessee for A.Y.

2009-10 and 2010- 11.

The assessee requests to withdraw the above appeals filed by him.

The assessee would be grateful if the above request is accepted.” 4.

Giving the reasons for the above request, Ld.

Counsel for the assessee submitted that this is a case where assessee failed to make a request to the AO as per the provisions of section 132B of the Act asking for adjustment of the seized cash towards “any existing liabilities”.

He also mentioned fairly that although a letter dated 14-10-2010 was written with similar request for the A.Y.

2010-11, the same could not be filed within 30 days from the end of the month in which asset was seized.

This condition is specified in the first proviso to clause (i) of section 132B(i) of the Act.

Thus, the assessee failed to meet this condition for A.Y.

2010-11.

Assessee did not make any request at all for A.Y.

2009-10.

This is a case where the cash was seized in the search conducted on 06-01-2010.

5.

After hearing both the sides and considering the above request of the assessee, we are of the opinion that the request of the assessee should be favourably allowed.

Accordingly, the grounds raised by the assessee are dismissed as ‘withdrawn’.

6.

In the result, both the appeals of the assessee are dismissed as ‘withdrawn’.

Order pronounced in the open court on this 27th day of October, 2017.

Sd/- Sd/- (VIKAS AWASTHY) (D.

KARUNAKARA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे Pune;
दनांक Dated : 27th October, 2017. सतीश ITA Nos.

Manwani 3 आदेश आदेश आदेश आदेश क क क क ितिलिप ितिलिप ितिलिप ितिलिप अ ेिषत अ ेिषत अ ेिषत अ ेिषत/Copy of the Order forwarded to : आदेशानुसार आदेशानुसार/ BY ORDER,स स यािपत ित //True Copy// Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune 1. अपीलाथ / The Appellant 2. pellant 2. यथ / The Respondent 3.

The CIT(A)-12, Pune 4.

CIT –12, Pune 5. िवभागीय
ितिनिध, आयकर अपीलीय अिधकरण, “A Bench” Pune; 6. गाड फाईल / Guard file.