ITA No. 614/Ind/2016 M/s Hotel Vikramaditya IN INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER . . ./I.T.A. No. 614/Ind/2016 /Assessment Year: 2004-05 M/s Hotel Vikramaditya Ujjain PAN AACCV0170H :: /Appellant Vs ACIT 2(1) Ujjain :: /Respondent /Assessee by Shri S.S. Deshpande /Revenue by Shri Mohd. Javed 28.9.2016 Date of hearing 21.10.2016 Date of pronouncement /O R D E R PER SHRI D.T. GARASIA, JM This appeal by assessee is directed against order of CIT(A) Ujjain dated 19.02.2016. 1 ITA No. 614/Ind/2016 M/s Hotel Vikramaditya 2. appeal has been filed with delay of 31 days. assessee has filed affidavit explaining delay in filing appeal. application for condonation of delay is considered and delay is condoned. 3. Brief facts of case are that assessee filed its return in response to notice u/s 148 declaring income at Nil. Assessing Officer found that assessee has received investments of Rs. 13,24,500/- from three shareholders. 1. Ghanshyam Rathore Rs. 4,59,000/- 2. Dinesh Rathore Rs. 5,40,500/- 3. Smt. Kanchan Rathore Rs. 3,25,000/- Assessing Officer treated this amount of Rs.13,24,500/- as unaccounted capital introduced in business out of undisclosed income. 3. matter was carried in appeal to learned CIT(A). After considering evidences filed and remand report, learned CIT(A) observed that it is 2 ITA No. 614/Ind/2016 M/s Hotel Vikramaditya duty of assessee to discharge initial burden of proving genuineness of transaction which assessee has failed to discharge. learned CIT(A), therefore, dismissed appeal of assessee. Now assessee is in appeal before Tribunal. 4. learned counsel for assessee submitted that amounts for shareholders have been introduced through banking channel. amount standing to credit of Shri Ghanshyam Rathore and Shri Dinesh Rathore has been taxed as unexplained cash credit and part of amount has been explained in their respective cases. In case of Shri Ghanshyam Rathore amount of Rs. 4,70,000/- has been taxed as unexplained cash credit and in case of Shri Dinesh Rathore, amount of Rs. 6,21,500/- is taxed as unexplained cash credit. Part of this amount was accepted in appeal as explained. It was submitted by learned counsel for 3 ITA No. 614/Ind/2016 M/s Hotel Vikramaditya assessee that since amounts are already taxed in respective cases of creditors, same cannot be taxed again as credit not explained. 5. On other hand, Ld DR relied on orders of lower authorities. 6. We have considered rival contentions of both parties and have perused orders of lower authorities and orders of respective creditors. amount of Rs. 4,70,000/- has already been taxed in case of Shri Ghanshyam Rathore vide order dated 18.12.2008. amount of Rs. 6,21,500/- has been taxed in hands of Shri Dinesh Rathore on 18.12.2008 out of which part of amount stands explained. Thus, to extent of these amounts no addition could have been made in hands of assessee since, they are already taxed in respective hands. This would amount to double taxation. Thus to 4 ITA No. 614/Ind/2016 M/s Hotel Vikramaditya extent of amount already taxed in respective hands, no addition can be sustained in case of assessee. On this basis amounts of Rs. 4,59,000/- in name of Ghanshyam Rathore and amount of Rs.5,40,500/- in name of Dinesh Rathore are deleted. However, credits in name of Kanchan Rathore at Rs. 3,25,000/- have not been explained satisfactorily and to this extent addition is sustained. assessee gets relief of Rs. 9,99,50/-. appeal is, therefore, partly allowed to this extent. order has been pronounced in open Court on 21 October, 2016. Sd/- sd/- ( . . ) ( . . ) (O.P.Meena) (D.T.Garasia) Accountant Member Judicial Member /Dated : 21 October, 2016. Dn/ 5 ITA No. 614/Ind/2016 M/s Hotel Vikramaditya 6 M/s Hotel Vikramaditya v. ACIT 2(1), Ujjain