Assistant Commissioner of Income-Tax ,Amravati Circle-, Amaravati V. Dr.Shri.Datta Fertilizers And Chemicals Private Limited, Amaravati

ITA 187/NAG/2009

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3096 (ITAT-NAGPUR)
• Duration Of Justice: 9 year(s) 8 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 09-10-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 13-08-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DR MILIND BHUSARI
• Assessee Lawyers: R V LOYA
• Keywords: Business income; Earning of tax free income; Fair market value; Accommodation entries

Judgement Text

- 1 - ITA NO. 187/NAG/2009 IN THE INCOME TAX APPELLATE TRIBNAL NAGPUR BENCH, NAGPUR BEFORE SHRI P.K.BANSAL, ACCOUNTANT MEMBER AND SHRI D.T.GARASIA, JUDICIAL MEMBER ITA NO.1 87/ NAG/2009 (ASSESSMENT YEARS : 2006-07) THE ASST. COMMISSIONER OF INCOME TAX, M/S SHREE DATTA FERTILIZERS & , AMRAVATI CIRCLE , CHEMICAL PVT. LTD. , COTTON AMARAVATI . MARKET ROAD, AMRAVATI VS PAN NO. AA HCS 4149L APPELLANT RESPONDENT REVENUE BY : DR. MILIND BHUSARI, DR ASSESSEE BY : SHRI R.V.LOYA, CA DATE OF HEARING : 1 7 -10-2012 DATE OF PRONOUNCEMENT : 30 -11-2012 O R D E R PER SHRI D.T.GARASIA, JM: THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER OF CIT(A)-II, NAGPUR DATED 18-05-2009 RELATING TO ASSESSMENT YEAR 2006-07. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS IN ITS APPEAL: - (I) ON THE FACTS AND IN CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A)-II ERRED IN HOLDING THAT THE ASSESSEE WAS ELIGIBLE FOR CLAIMING OF EXEMPTION U/S 10(38) OF THE IT ACT 1961. (II) ON THE FACTS AND IN CIRCUMSTANCES OF THE CASE, THE LEARNED CIT(A)-II ERRED IN DELETING THE ADDITION MADE BY THE AO ON THE ACCOUNT OF DISALLOWANCE OF EXEMPTION U/S-10(38) OF THE INCOME TAX ACT 1961. THE SHORT FACTS OF THE CASE ARE AS UNDER: - 1) THE APPELLANT HAS SUBMITTED RETURN DECLARING INCOME AT RS.80,27,547/- ON 30/11/2006. THE REGULAR ASSESSMENT HAS BEEN COMPLETED ON A TOTAL INCOME OF RS.2,40,45,200/- VIDE ORDER DATED 29/12/2008. - 2 - ITA NO. 187/NAG/2009 2. THE A.O. HAS MADE ADDITION OF RS.1,30,725/- AT 50% OF EXPENDITURE INCURRED N CAMPAIGN. THE APPELLANT HAS SUBMITTED ENTIRE DETAILS AND HAS ALSO DEDUCTED TAX AT SOURCE IN RESPECT OF EXPENDITURE INCURRED. THE EXPENDITURE INCURRED IS SUPPORTED BY VOUCHERS. 3) THE A.O. HAS DISALLOWED SUM OF RS.41,200/- OUT OF TRAVELLING EXPENSES ON ADHOC BASIS. THE APPELLANT HAS MAINTAINED COMPLETE DETAILS OF TRAVELLING EXPENDITURE AND SAME WERE PRODUCED BEFORE ASSESSING OFFICER FOR VERIFICATION. 4) THE APPELLANT HAD HELD CERTAIN SHARES AS INVESTMENT. THE SURPLUS ARISING ON SALE OF SHARES WAS CLAIMED AS NOT CHARGEABLE TO TAX U/S 10(38) OF INCOME TAX ACT, 1961. THE PURCHASE AND SALE OF SHARES WAS EXPLAINED WITH REFERENCE TO BROKER NOTES. THE PURCHASE AND SALE OF SHARES ARE THROUGH PROPER BANKING CHANNEL. THE TRANSACTIONS ARE ALSO SUPPORTED BY DEMAT ACCOUNT. THE A.O. ON THE REPORT OF DDIT (INV.), KOLKATTA HAS CONCLUDED THAT THE TRANSACTIONS OF SALE OF SHARES IS NOT GENUINE IGNORING THE LEGAL AND COGENT EVIDENCE PLACED ON RECORD. THE A.O. HAS HELD THAT APPELLANT IS LIABLE TO BE ASSESSED FOR SUM OF RS.1,58,45,758/- AS BUSINESS INCOME. 2. MATTER CARRIED TO CIT (A) AND CIT (A) HAS DELETED THE ADDITION BY OBSERVING AS UNDER: - 6.1 IT IS SUBMITTED THAT THE ADDITION MADE BY THE A.O. IS UNJUSTIFIED, UNWARRANTED AND BAD IN LAW. THE APPELLANT HAD PURCHASED SHARE OF RAMKRISHNA FINCAP LTD ON 27/11/2003 AND SAME HAVE BEEN SOLD BY THE APPELLANT DURING THE PREVIOUS YEAR UNDER CONSIDERATION. THE SALE CONSIDERATION RECEIVED BY THE APPELLANT IS RS.1,62,55,270/-. THE APPELLANT HAD RECEIVED THE SALE CONSIDERATION BY ACCOUNT PAYEE CHEQUE WHICH IS DULY CREDITED IN THE REGULAR BOOKS OF ACCOUNT OF THE APPELLANT. THE APPELLANT IN SUPPORT OF SALE CONSIDERATION HAD SUBMITTED THE SALE NOTE ISSUED BY BROKER. THE APPELLANT HAD ALSO SUBMITTED EVIDENCE OF STT PAID ON THE SALE PRICE OF THE SHARES. THE PERIOD OF HOLDING OF SHARES IS MORE THAN 12 MONTHS. SHARES WERE SOLD AT THE RECOGNIZED STOCK EXCHANGE. THE APPELLANT HAS FULFILLED THE REQUISITE CONDITION FOR GRANT OF EXEMPTION IN RESPECT OF CAPITAL GAIN U/S 10(38) OF I.T. ACT 1961. THE LEGAL AND COGENT EVIDENCE PRODUCED BY THE APPELLANT HAS NOT BEEN FOUND TO BE INCORRECT OR FALSE. THE APPELLANT HAD ALSO SUBMITTED CONFIRMATION FROM THE BROKER WHEREIN IT WAS CLEARLY CONFIRMED THAT THE TRANSACTIONS OF SALE OF SHARES WERE THOUGH SUCH BROKER. THE BROKER WAS EXAMINED BY THE INVESTIGATION WING AT KOLKATA. BROKER HAD AFFIRMED THE TRANSACTION OF PURCHASE AND SALE BY THE APPELLANT THROUGH HIM. ON THE BASIS OF - 3 - ITA NO. 187/NAG/2009 LEGAL AND COGENT EVIDENCE PLACED ON RECORD THE APPELLANT HAS DISCHARGED ITS ONUS TO EXPLAIN THE TRANSACTIONS OF PURCHASE AND SALE OF SHARES. IN VIEW OF ABOVE THERE IS NOTHING ADVERSE ON RECORD TO CONCLUDE THAT TRANSACTIONS OF PURCHASE AND SALE BY THE APPELLANT IS NOT GENUINE. THE APPELLANT HAS SUBMITTED COPY OF DEMAT ACCOUNT WITH ANAND RATHI SECURITIES LTD. THE AFORESAID ACCOUNT EVIDENCE THAT THE APPELLANT HAD PURCHASED SHARES IN NOV'2003 WHICH HAVE BEEN PARTLY SOLD DURING THE PREVIOUS YEAR UNDER CONSIDERATION. THE DEMAT ACCOUNT OF THE APPELLANT HAS NOT BEEN FOUND TO BE INCORRECT OR FALSE. ON THE FACE OF SUCH LEGAL EVIDENCE THE CONCLUSION OF THE A.O. THAT THE TRANSACTION IS NOT GENUINE IS UNJUSTIFIED. THE TRANSACTION OF PURCHASE AND SALE ARE MADE AT KOLKATA STOCK EXCHANGE THROUGH BROKER M/S BASANT PERIWAL AND CO. THE AFORESAID BROKER IS MEMBER OF KOLKATA STOCK EXCHANGE AND IS ALSO HOLDING REGISTRATION UNDER SEBI. THE ABOVE FACTS ARE EVIDENT FROM THE CONTRACT NOTE ISSUED BY THE SAID BROKER. THE SAID BROKER ON INDEPENDENT VERIFICATION MADE HAS AFFIRMED THE TRANSACTION OF PURCHASE AND SALE OF SHARES WITH APPELLANT. THE PAYMENT HAS BEEN MADE BY HIM THROUGH ACCOUNT PAYEE CHEQUE. THE COPY OF ACCOUNT OF THE APPELLANT IN THE BOOKS OF ACCOUNT OF BROKER IS ALSO PLACED ON RECORD. THE SECURITY TRANSACTION TAX AS WELL SERVICE TAX HAS BEEN PAID IN RESPECT OF SALE TRANSACTION BY THE APPELLANT AS IS EVIDENT FROM THE CONTRACT NOTE. ON ABOVE LEGAL AND COGENT EVIDENCE THERE IS NO JUSTIFICATION TO CONCLUDE THAT THE TRANSACTION OF APPELLANT IS NOT GENUINE. THE SHARES HAVE BEEN SOLD IN THE PREVAILING MARKET QUOTED RATE AT STOCK EXCHANGE AND MARKET QUOTATIONS OF KOLKATTA STOCK EXCHANGE ARE PLACED ON RECORD. IN THE CASE OF APPELLANT THE PURCHASE OF SHARES IS MADE IN THE MONTH OF NOV'2003, WHICH HAVE BEEN SHOWN AS INVESTMENT IN THE BALANCE SHEET OF THE APPELLANT. THE COPY OF BALANCE SHEET AS WELL AS LEDGER ACCOUNT OF INVESTMENT IS SUBMITTED. IN THE CASE OF APPELLANT THE AFORESAID INVESTMENT HAS BEEN ACCEPTED BY REVENUE IN THE REGULAR ASSESSMENT FRAMED. THE A.O. HAS RAISED SUSPICION AS ACCORDING TO HIM THE UNIQUE CLIENT CODE IS DIFFERENT IN PURCHASE AND SALE TRANSACTION. IT IS SUBMITTED THAT THE NOMENCLATURE OF CLIENT CODE IS IN THE RECORD OF BROKER. THE APPELLANT HAS NO CONTROL OVER METHOD OF RECORDING OF CLIENT CODE BY BROKER. CLERICAL MISTAKE IN THE OFFICE OF THE BROKER CANNOT OUT WEIGH _THE_LEGAL AND COQENT_EVIDENCE PLACED ON RECORD FOR DETERMINING THE GENUINENESS OF TRANSACTION. THE CONCLUSION OF THE A.O. IS HIGHLY ARBITRARY CONSIDERING THE FACTS THAT NO DEFECT MISTAKE OR OMISSION HAS BEEN FOUND IN THE LEGAL AND COGENT EVIDENCE PLACED ON RECORD. THE APPELLANT PLACED RELIANCE ON (I) 7 DTR (AGRA) (TRIB) 158 SMT. MEMO DEVI VS. ASST. CIT, (II) 5 TO (JD.) 265 ITO VS. SMT. KUSUMLATA, (III) 264 ITR 579 (GAU.) CIT VS JANKI TEXTILES & IND. LTD., (IV) 299 ITR 179 (P & H) CIT VS. ANUPAM KAPOOR, (V) 18 SOT 390 (MUM) ASST. CIT VS. CLARIDGES INVESTMENTS FIN. (P) LTD. AND (VI) 5 SOT 94 (DEL) ITO VS. NAVEEN GUPTA. THE RATIO AS LAID DOWN IN THE DECISIONS REFERRED HEREINABOVE SQUARELY APPLIES TO THE FACTS IN THE CASE OF APPELLANT. THE ONUS ON - 4 - ITA NO. 187/NAG/2009 APPELLANT TO SHOW THE GENUINENESS OF THE TRANSACTION IS SATISFACTORILY DISCHARGED BY PLACING LEGAL AND COGENT EVIDENCE ON RECORD. THE A.O. HAS ARBITRARILY MADE THE ADDITION WITHOUT BRINGING ANY EVIDENCE ON RECORD TO SHOW THAT THE TRANSACTION OF SALE OF SHARE IS NOT GENUINE. CONSIDERING THE SUBMISSION MADE HEREINABOVE IT IS SUBMITTED THAT ADDITION MADE BY A.O. BE DIRECTED TO BE DELETED. 6.2 I HAVE CONSIDERED THE SUBMISSION OF THE APPELLANT. BRIEF FACTS IN THE CASE OF APPELLANT ARE THAT APPELLANT HAS PURCHASED SHARES OF RAM KRISHNA FIN CAP LTD. DURING NOVEMBER 2003. THE AFORESAID SHARES WERE SHOWN AS INVESTMENT IN BALANCE SHEET FOR THE YEAR ENDING 31/3/2004. THE SHARES HAVE BEEN SOLD BY THE APPELLANT THROUGH BROKER SHRI BASANT PERIWAL & CO. THE BROKER IS REGISTERED WITH SEBI AS IS EVIDENT FROM CONTRACT NOTES. THE APPELLANT HAS RECEIVED SALE CONSIDERATION BY ACCOUNT PAYEE CHEQUE AT RS.1,62,55,270/-. THE BROKER HAS CONFIRMED THE TRANSACTION OF THE SALE TO BE GENUINE. THE BROKER WAS INDEPENDENTLY EXAMINED BY THE INVESTIGATION WING OF KOLKATA AND IN THE STATEMENT RECORDED HE HAS AFFIRMED THAT TRANSACTION OF SALE OF SHARES BY APPELLANT. THE APPELLANT HAS SUBMITTED CONTRACT NOTE ISSUED BY BROKER. THE PERUSAL OF CONTRACT NOTE BY THE BROKER CLEARLY EVIDENCE THAT SECURITY TRANSACTION TAX (STT) AND SERVICE TAX HAS BEEN PAID ON SALE OF SHARES. THE SHARES ARE SOLD AT RECOGNIZED STOCK EXCHANGE AND WERE HELD BY THE APPELLANT FOR MORE THAN 12 MONTH. THE SHARES ARE SOLD AT PREVAILING MARKET RATE AT KOLKATTA STOCK EXCHANGE. THE APPELLANT HAS SUBMITTED DEMAT ACCOUNT FOR SHARES PURCHASED AND SOLD WITH ANAND RATHI SECURITIES LTD. DEPOSITORY PARTICIPANT, CENTRAL DEPOSITORY SECURITIES LTD. THE DEMAT ACCOUNT OF THE APPELLANT EVIDENCES THAT APPELLANT HAS PURCHASED SHARE IN NOV. 2003 PART OF WHICH HAVE BEEN SOLD DURING THE PREVIOUS YEAR UNDER CONSIDERATION. THE LEGAL & COGENT EVIDENCE PLACED ON RECORD BY THE APPELLANT IS NOT FOUND TO BE INCORRECT OR FALSE. THE A.O. AT PAGE-8 HAS OBSERVED THAT THE BROKER BASANT PERIWAL & CO. HAS PURCHASED THE SHARES FOR THE APPELLANT UNDER DIFFERENT CLIENT CODE AND AS PURCHASE IS NOT GENUINE, THE CORRESPONDING SALES IS BY ACCOMMODATION ENTRIES. THE FINANCIAL RESULTS OF COMPANY RAMKRISHNA FINCAP LTD. DOES NOT WARRANT FOR SUCH HUGE INCREASE IN PRICE OF SHARES. THE PAY IN AND PAY OUT ARE NOT AS PER T - 2 NORMS AND BROKER WAS SUSPENDED FROM TRADING ON CSE ON 01.12.2005. THUS, CONSIDERING THE ABOVE, A.O. CONCLUDED THAT PURCHASE AND SALE OF SHARES THROUGH BASANT PERIWAL & CO. ARE NOT GENUINE AND APPELLANT HAS ADOPTED COLOURABLE DEVICE TO MAKE CAPITAL WITHOUT PAYMENT OF TAX BY AVAILING EXEMPTION ;.U/S. 10(38) OF THE ACT. IT IS SEEN FROM THE RECORD THAT THE SHARES WERE PURCHASED IN V ATIFE MONTH OF NOVEMBER, 2003. THE SHARES WERE PURCHASED BEFORE INTRODUCTION OF PROVISIONS OF SECTION 10(38) BY FINANCE ACT (NO.2) OF 2004. THE SALE CONSIDERATION - 5 - ITA NO. 187/NAG/2009 SHARES IS SUBSTANTIATED BY THE PREVAILING MARKET PRICE TRADED AT KOLKATTA STOCK EXCHANGE. NECESSARY EVIDENCE FOR THE SAME WAS PLACED BEFORE A.O. AND SAME HAS NOT BEEN FAULTED WITH. ANY LISTED SECURITY TRADED AS STOCK EXCHANGE CAN BE SAID TO HAVE THE FAIR MARKET VALUE AT A PRICE AT WHICH SAME IS TRADED AT STOCK EXCHANGE. THE CLIENT CODE IS THE INTERNAL ACCOUNTING PROCEDURE OF THE BROKER. ANY DIFFERENCE IN CLIENT CODE CANNOT BE VIEWED ADVERSELY SO LONG AS THE TRANSACTION OF SALE AND PURCHASE OF SHARE IS CONFIRMED BY BROKER AND ARE MADE THROUGH PROPER BANKING CHANNEL. SIMILARLY, T-2 NORMS IS A CONTRACTUAL MATTER BETWEEN PARTIES AND NOTHING ADVERSE CAN BE HELD THEREFORM AS TO GENUINENESS OF TRANSACTION. THE TRANSACTION OF SALE OF SHARES ARE ALL BEFORE 01.12.2005 AND THUS SUSPENSION OF TRADING BROKER BY KOLKATTA STOCK EXCHANGE CANNOT HAVE ANY ADVERSE BEARING ON TRANSACTIONS BEFORE 01.12.2005. THE PURCHASE AND SALE OF SHARES ARE ALSO SUBSTANTIATED THROUGH DEMAT ACCOUNT OF SHARES WITH ANAND RATHI SECURITIES LTD. DEPOSITORY PARTICIPANT, CENTRAL DEPOSITORY SECURITIES LTD. THUS, THE OBSERVATION OF A.O. BASED ON THE FINDINGS OF THE INVESTIGATION WING OF KOLKATA ARE CONTRARY TO LEGAL EVIDENCE ON RECORD. THE INFERENCE DRAWN BY A.O. IS UNJUSTIFIED CONSIDERING THE LEGAL EVIDENCE ON RECORD. ON ABOVE ADMITTED FACTUAL POSITION THE ONUS ON APPELLANT TO EXPLAIN THE GENUINENESS OF TRANSACTION HAS BEEN SATISFACTORILY DISCHARGED. THE GENUINENESS OF TRANSACTION HAS BEEN DEMONSTRATED BY PLACING LEGAL AND COGENT EVIDENCE ON RECORD. THE RATIO LAID DOWN BY THE FOLLOWING DECISIONS FULLY SUPPORTS THE SUBMISSION OF APPELLANT : (I) 7 DTR (AGRA) (TRIB) 158 SMT. MEMO DEVI VS. ASST. CIT, (II) 5 TTJ (JD.) 265 ITO VS. SMT. KUSUMLATA, (III) 264 ITR 579 (GAU.) CIT VS JANKI TAXTILES & IND. LTD., (IV) 299 ITR 179 (P & H) CIT VS. ANUPAM KAPOOR, (V) 18 SOT 390 (MUM) ASST. CIT VS. CLARIDGES INVESTMENTS FIN. (P) LTD. AND (VI) 5 SOT 94 (DEL) ITO VS. NAVEEN GUPTA. CONSIDERING THE TOTALITY OF FACTS AND CIRCUMSTANCES OF THE CASE AND EVIDENCE ON RECORD IN THE CASE OF APPELLANT I HOLD THE TRANSACTION OF PURCHASE AND SALE OF SHARES TO BE GENUINE. THE CLAIM OF APPELLANT U/S 10(38) OF INCOME TAX ACT, 1961 IS CORRECT AND GENUINE. THUS, THE ADDITION MADE BY A.O. AT RS.1,58,45,758/- IS HELD TO BE UNJUSTIFIED. I HEREBY DIRECT TO DELETE THE ADDITION MADE BY AO AT RS.1,58,45,758/-. ACCORDINGLY, THE GROUNDS OF APPEAL OF APPELLANT ARE ALLOWED. 3. WE HAVE HEARD THE RIVAL CONTENTION OF BOTH THE PARTIES LOOKING TO THE FACTS AND CIRCUMSTANCES OF THE CASE WE FIND THAT AO HELD THAT LONG TERM CAPITAL GAIN IS ACCESSIBLE INCOME OF THE ASSESSEE. THE AO HELD THAT PURCHASE AND SALE OF THE SHARE IS NOT GENUINE. LD. DR SUBMITTED THAT ASSESSEE HAS PRODUCED THE COPY OF PURCHASED BILLS, SALES BILLS AND BANK STATEMENT AND DEMAT ACCOUNT. FROM THE VERIFICATION OF THE CODE NUMBER OF ASSESSEES BILL WHERE THE NUMBER IS WRITTEN AS 618 FOR 2,00,000 SHARES. THE AO HAS VERIFIED THE STATEMENTS OF BILLS OF BASANT PERIWAL & CO WHEREIN THE CODE NUMBER IS SHOWN AS SHRUTT. THEREFORE, AO - 6 - ITA NO. 187/NAG/2009 HAS TREATED THIS SHARE TRANSACTION IS NOT GENUINE THEREFORE, ENTIRE CAPITAL GAIN WAS TREATED AS INCOME OF THE ASSESSEE. THEREFORE INCOME OF THE ASSESSEE WAS NOT EXEMPT INCOME U/S 10(38). THE LD. AR RELIED UPON THE ORDER OF THE REVENUE AUTHORITIES. 4. WE FIND THAT THE ASSESSEE HAS PURCHASED THE SHARE OF SHRI RAMKRISHNA FINCAB LTD DURING NOVEMBER 2003, THE AFORESAID SHARES WERE SHOWN AS INVESTMENT IN THE BALANCE SHEETS FOR THE YEAR ENDING 31 ST MARCH 2004. THE BROKER IS REGISTER WITH SEBI. THE ASSESSEE HAS RECEIVED THE SALE CONSIDERATION BY ACCOUNT PAYEE CHEQUE. THE BROKER HAS CONFIRMED THE TRANSACTION OF SALE TO BE GENUINE. THE BROKER HAS CONFIRMED THE TRANSACTION AND NECESSARY TAX HAS BEEN PAID ON SHARES. WE FIND THE SHARES ARE SOLD AT PREVAILING MARKET RATE AT KOLKATA. THE DEMAT ACCOUNT OF THE SHARES PURCHASED AND SOLD WITH ANAND RATHI SECURITIES LTD. THE DEMAT ACCOUNT OF THE ASSESSEE SHOWS THAT ASSESSEE HAS PURCHASED SHARES IN NOVEMBER 2003 AND PART OF THE SALES DURING THE PREVIOUS YEAR UNDER CONSIDERATION. THEREFORE, THE CIT (A) HAS VERIFIED SALE TRANSACTION AND HE HAS ALLOWED THE APPEAL. THE LD. DR COULD NOT BRING ANY EVIDENCE CONTRARY TO THE FINDING OF CIT (A), THEREFORE WE DISMISSED THE DEPARTMENTS APPEAL. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 30/11/2012. SD/- SD/- (P.K. BANSAL) (D.T. GARASIA) ACCOUNTANT MEMBER JUDICIAL MEMBER PANAJI 30/11/2012 *NANU* COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A), NAGPUR 4 CIT 5 DR, ITAT, NAGPUR BY ORDER ASSISTANT REGISTRAR, ITAT, NAGPUR - 7 - ITA NO. 187/NAG/2009