आयकर अपीलीय अिधकरण, राजकोटÆयायपीठ, राजकोट।

IN THE INCOMETAXAPPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER And SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलस.ं/IT(SS)A No. 06 & 07 & 08& 09/RJT/2019 Assessment Year: (2010-11 to 2012-13 &2014-15)

(Hybrid Hearing)

Shri Pankajkumar Chimanlal Vs. The DCIT, Central Circle -

Lodhiya 2, C/o, Shreeji Trading Co., 10- Aayakar Bhavan, Amruta Shaligram Complex, Estate, 2nd Floor, M. G.

Bhupendra Road, Opp. Road, Diwanpara Police Chowki, Rajkot - 360001 Rajkot - 360001 Öथायीलेखासं./जीआइआरसं./PAN/GIR No.:AAMPL3903F (Assessee) (Respondent)

IT(SS)A No. 46 to 49/RJT/2019 Assessment Year: (2010-11 to 2013-14)

(Hybrid Hearing)

The ACIT Central Circle Vs. Shri Pankaj Kumar Chiman – 2, Lal Lodhiya Amruta Estate, 2nd Floor, C/o, Shreeji Trading Co., 10-

M. G. Road, Shaligram Complex, Rajkot - 360001 Bhupendra Road, Opp.

Diwanpara Police Chowki, Rajkot - 360001 Öथायीलेखासं./जीआइआरसं./PAN/GIR No.: AAMPL3903F (Assessee) (Respondent)

ITA No.102 /RJT/ 2019 Assessment Year: (2014-15)

(Hybrid Hearing)

आदेश / O R D E R PER BENCH This is bunch of nine cross appeals, filed by the Assessee and Revenue, all are directed against the separate orders passed by the Learned Commissioner of Income Tax (Appeals) [ in brief, “Ld. CIT(A)”], which in turn arise out of separate assessment orders, passed by the Assessing Officer under section 143(3) r.w.s 153A of the Income Tax Act 1961, (hereinafter referred to as “the Act”).

2. Since, the issues involved in all these appeals are common and identical, therefore, we have clubbed these appeals and heard together and a consolidated order is being passed for the sake of convenience and brevity.

3.Although, these appeals filed by the Revenue and assessee, contain multiple ground of appeals. However, at the time of hearing, we have carefully perused all the grounds raised by the Revenue as well as Assessee. Most of the grounds raised by the Revenue, as well as Assessee, are either academic in nature or contentious in nature. However, to meet the end of justice, we confine ourselves to the core of the controversy and main grievances of Revenue and the Assessee, as well. With this background, we summarize and concise the grounds raised by the Revenue as well as Assessee, as follows:

(1) Ground No.1 - On the facts and in the circumstances of the case and in law, the Id. CIT(A) has erred in law and on facts in restricting the addition of Rs. 48,58,27,657/- made on account of income earned out of credit entries in undisclosed foreign Bank account to Rs.

1,80, 12,961/-

[Revenue has raised this ground No. 1 in ITA No. 46/RJT/2019 for AY 2010-11, ground No. 1 in ITA No. 47/RJT/2019 for AY 2011-12, ground No. 1 in ITA No. 48/RJT/2019 for AY 2012-13, ground No. 1 in ITA No. 49/RJT/2019 for AY 2013-14; and ground no. 3 in ITA No. 102/RJT/2019 for AY 2014-15, These grounds of Revenue are identical and arising out of same issue for addition deleted by Ld. CIT(A).]

[ Similarly, assessee has also raised ground, for addition sustained by Ld. CIT(A), Rs.1,80,12,961/-, stating that this addition sustained by the ld. CIT(A) should also be deleted, vide ground no.3 in IT(SS) No. 6/RJT/2019 for AY 2010-11, ground no.3 in IT(SS) No.

7/RJT/2019 for AY 2011-12; and ground no.3in IT(SS) No. 8/RJT/2019 for AY 2012-13]

(2) Ground No.2 - On the facts and in the circumstances of the case and in law, the Id. CIT(A) has erred in law and on facts in deleting the addition of Rs.3,41,02,862/-made on account of unexplained credits entries in unallocated gold/silver account of STCSH.

[ This is Revenue's ground no. 2 in ITA No. 46/RJT/2019 for AY 2010-11; and ground no. 4 in ITA No.48/RJT/2019, for AY 2012-13]

(3) Ground No.3 - On the facts and in the circumstances of the case and in law, the Id. Ground No.3 - On the facts and in the circumstances of the case and in law, the Id. CIT(A) has erred in law and on facts in deleting the addition of Rs.2,32,94,413/- made on account of cash/premium pa