Rajendra Prasad Jayaswal, Kolkata V. ITO, Ward - 36(1), Kolkata, Kolkata

ITA 1275/KOL/2011

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 83058 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2014
• Appeal Filed By: Assessee
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 28-09-2011
• Court: TRIBUNAL
• Department Lawyers: M L SARDAR
• Assessee Lawyers: ARVIND AGARWAL
• Section: 143(3)

Judgement Text

, A , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: KOL KATA () BEFORE , /AND , ! ) [BEFORE SHRI MAHAVIR SINGH, JM & SHRI SHAMIM YAHYA, AM] ' / I.T.A NO.1275/KOL/2011 #$ %&/ ASSESSMENT YEAR: 2007-08 RAJENDRA PRASAD JAYASWAL VS. INCOME-TAX OFFICER, WD. 36(1), KOLKATA. (PAN: (ACOPJ1997P) (() /APPELLANT ) (*+()/ RESPONDENT ) DATE OF HEARING: 13.08.2014 DATE OF PRONOUNCEMENT: 28.08.2014 FOR THE APPELLANT: SHRI ARVINDAGARWAL, ADVOCATE FOR THE RESPONDENT: SHRI M. L. SARDAR, JCIT, SR. DR / ORDER PER SHRI MAHAVIR SINGH, JM : THIS APPEAL BY ASSESSEE IS ARISING OUT OF ORDER OF CIT(A)-XX, KOLKATA IN APPEAL. NO. 113/CIT(A)-XX/WD-36(1)/09-10/KOL DATED 12.08.2011. ASSESSMENT WAS FRAMED BY ITO, WARD-36(1), KOLKATA U/S. 143(3) OF THE INCOME-TAX A CT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEAR 2007-08 VIDE HIS ORDER DA TED 14.09.2009. 2. THE ONLY ISSUE IN THIS APPEAL OF ASSESSEE IS AGA INST THE ORDER OF CIT(A) CONFIRMING THE ADDITION OF RS.6,06,102/- ON ACCOUNT OF DIFFERENCE IN THE RECONCILIATION OF SUNDRY DEBTORS. 3. AT THE OUTSET, LD. COUNSEL FOR THE ASSESSEE SHRI ARVIND AGARWAL, ADVOCATE FILED COPIES OF TRIBUNALS ORDER IN ITA NO. 1275/K/2011 WHEREBY VIDE ORDER DATED 23.03.2012 THE UNRECONCILED FIGURES OF SUNDRY CREDITORS TO THE TUN E OF RS.5,58,729/- WAS DELETED BUT THE REMAINING AMOUNT OF RS.47,373/- BEING DIFFERENCE ON ACCOUNT OF SIMPLEX INFRASTRUCTURE LTD. WAS NOT ADJUDICATED. RELEVANT PARA 5 OF TRIBUNALS ORDER READS AS UNDER: 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PE RUSED THE MATERIAL AVAILABLE ON RECORD INCLUDING THE PRECEDENTS CAREFULLY. THE ASSESSMENT YEAR UNDER APPEAL IS FOR THE ASSESSMENT YEAR 2007-08 ENDING ON 31.03.2008. THE LETTER DATE D 3-7-2009 OF M/S. NEW CENTRAL JUTE MILLS CO. LTD. ADDRESSED TO THE ASSESSEE IN THE PRO PRIETORY CAPACITY OF M/S. BHARAT MARKETING COMPANY, (WHICH IS AVAILABLE IN ASSESSEE S PAPER BOOK PAGE NO. 6), WHEREIN IT IS STATED THAT M/S. NEW CENTRAL JUTE MILLS CO. LTD. WA S NOT IN A POSITION TO ACCEPT YOUR OPENING BALANCE FIGURE OF RS.6,68,833.45 AS ON 1-4- 2006 AND CLOSING BALANCE OF RS.9,40,943.52 AS ON 31.3.2007 AS ACCOUNTING FIGURE S WERE NOT AVAILABLE WITH M/S. NEW CENTRAL JUTE MILLS CO. LTD. THIS JUTE MILL IS AN E NTERPRISE OF NEW CENTRAL COOPERATIVE CREDIT SOCIETY LTD. THEREFORE, THE RECONCILIATION OF DIFFERENCE COULD NOT BE TAKEN AS INCOME OF THE ASSESSEE. THIS DIFFERENCE MADE OUT OF DIFFE RENCE IN OPENING BALANCE AS RIGHTLY CONTENDED BY THE LEARNED COUNSEL FOR THE ASSESSEE. HENCE, IT CANNOT BE TREATED AS INCOME ON THE ACCOUNT OF DIFFERENCE IN BALANCE. 2 ITA NO.1275/K/2011 RAJENDRA PRASAD JAYASWAL AY 2007-08 4. LD. COUNSEL FOR THE ASSESSEE STATED THAT THIS OR DER OF TRIBUNAL QUA THIS AMOUNT OF RS.47,373/- WAS RECALLED VIDE MA NO.71/K/2012 ORDER DATED 28.09.2012 I.E. THE DISPUTE REGARDING UNRECONCILED FIGURES OF RS.47,373/- IN RE SPECT OF SIMPLEX INFRASTRUCUTRE . NOW LD. COUNSEL FOR THE ASSESSEE, IN VIEW OF THE ABOVE FACT S STATED THAT ONLY LEFT OUT AMOUNT OF RS.47,373/- ON ACCOUNT OF SIMPLEX INFRASTRUCTURE LT D. IS TO BE ADJUDICATED. LD. COUNSEL FOR THE ASSESSEE SHRI ARVIND AGRAWAL STATED THAT THIS AMOUN T WAS ALSO RECONCILED TO THE EXTENT OF RS.47,373/- AND FOR THIS, HE DREW OUR ATTENTION TO A LETTER WRITTEN TO THE ITO DATED 15.06.2009 WHEREIN THIS BALANCE OF RS.47,373/- WAS EXPLAINED. WHEN THIS WAS CONFRONTED TO LD. SR. DR, HE FAIRLY CONCEDED THE POSITION. IN SUCH CIRCUMSTA NCES, WE HAVE NO HESISTATION IN DELETING THIS ADDITION AND THIS ISSUE OF ASSESSEES APPEAL IS ALL OWED. 5. IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED. 6. ORDER IS PRONOUNCED IN THE OPEN COURT ON 28.08.2 014. SD/- SD/- , ! , (SHAMIM YAHYA ) (MAHAVIR SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 28TH AUGUST, 2014 ,- #./ 0 JD.(SR.P.S.) 1 *2 3 2%4- COPY OF THE ORDER FORWARDED TO: 1 . () / APPELLANT SHRI RAJENDRA PRASAD JAYASWAL, C/O, BHA RAT MARKETING CO. 1, BONFIELD LANE, KOL-700001 2 *+() / RESPONDENT ITO, WARD-36(1), KOLKATA. 3 . # ( )/ THE CIT(A), KOLKATA 4. 5. # / CIT KOLKATA 2:; *# / DR, KOLKATA BENCHES, KOLKATA +2 */ TRUE COPY, #