Ita/1643/2009 Of Commissioner Of Income Tax, Trivandrum v. A.shahul Hameed, P/O.m/S.city Shoe Mart

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN TUESDAY, THE 13TH OCTOBER 2009 / 21ST ASWINA 1931 ITA.No. 1643 of 2009() ---------------------- AGAINST THE ORDER DATED 31/12/2008 IN COCH IN ITA.654/COCH/2008 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/RESPONDENT ---------------------------------------- THE COMMISSIONER OF INCOME TAX, THIRUVANANTHAPURAM. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): APPELLANT ------------------------ A.SHAHUL HAMEED, P/O.M/S.CITY SHOE MART,CHALAI, TRIVANDRUM. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ON 13/10/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: -------------------------------------------- -------------------------------------------- Dated this the 13th day of October, 2009 JUDGMENT Ramachandran Nair, J. Heard standing counsel for the appellant. The only issue raised iswhether the Tribunal was justified in cancelling the order issued underSection 263 of the I.T. Act by the CIT directing the Officer to verifythe source of deposit in a bank amounting to around Rs. 2,35,000/-. Itis seen that the very same amount withdrawn from the Bank wasaccepted by the assessing officer as source for investment in a building.The Tribunal cancelled the order of the Commissioner because theTribunal noticed that in the appeal against first round assessment, theCIT (Appeals) cancelled the addition on cash credit. We do not findany substantial question of law arising from the order of the Tribunalbecause in the appeal against first round assessment, the assessee'sexplanation was accepted. Consequently we dismiss the appeal. (C.N.RAMACHANDRAN NAIR) Judge. (V.K. MOHANAN) Judge.