Miller Knits, Tiruppur V. ITO, Tiruppur

ITA 1942/CHNY/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 96401 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2015
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 03-11-2015
• Assessment Year: 2011-2012
• Appeal Filed On: 04-09-2015
• Court: TRIBUNAL

Judgement Text

- - ITA 1942/15 7 CREDITORS IN THE BOOKS OF ACCOUNT ARE GENUINE. THE ASSESSEE FAILED TO DISCHARGE ITS ONUS CAST ON IT, TO SUBSTAN TIATE ITS CLAIM. BEING SO, CIT(A) IS JUSTIFIED IN HOLDING THAT SUCH LIABILITIES DID NOT EXIST AT THE END OF THE ACCOUNTING YEAR AND RIGHTLY SUSTAINED THE SAID LIABILITIES WHICH HAS CEASED TO EXIST. ACCORD INGLY, WE CONFIRM THE FINDINGS OF THE LOWER AUTHORITIES. 9. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. ORDER PRONOUNCED ON FRIDAY, THE 27 TH OF NOV., 2015 AT CHENNAI. SD/- SD/- ( . ) ( ) (G. PAVAN KUMAR) (CHANDRA POOJARI) #$ %$ &'($ /JUDICIAL MEMBER )*+ &'($/ACCOUNTANT MEMBER *#3 /CHENNAI, 4' /DATED, THE 27 TH NOV., 2015. MPO* 5'*6 7 8%9:); <=*;>9 /COPY TO: 1. <) ?@ /APPELLANT 2. 8A$?@ /RESPONDENT 3. 5$ 5$ B9 (<)) /CIT(A) 4. 5$ 5$ B9 /CIT 5. ;C D$ 8%9%EF /DR 6. D GH I 3) /GF.