Surinder Malhotra (Prop. M/s. Craft India), New Delhi V. ACIT, Circle-54(1), New Delhi

ITA 2284/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 9748 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-06-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: G
• Assessment Year: 2013-2014
• Appeal Filed On: 13-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 68; 6; 2; 43

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G” DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER I.T.A. No.2284/DEL/2019 Assessment Year 2013-14 Surinder Malhotra (Prop. M/s. Craft India), O-34, Lajpat Nagar-II, New Delhi. v. ACIT, Circle-54(1), New Delhi. TAN/PAN: AAIPM8332K (Appellant) (Respondent) Appellant by: Shri Abhishek Jain, CA Respondent by: Shri Abhishek Kumar, Sr.DR Date of hearing: 25 05 2022 Date of pronouncement: 07 06 2022 O R D E R PER PRADIP KUMAR KEDIA, A.M.: The c apt io ne d ap p eal ha s be en f i le d at th e i ns ta nc e o f the ass es se e a ga in st t he or der of t he Co mmi s si on er of Inc o me Ta x (Ap pe al s) -X VI II, [ ‘CI T( A)’ in sh or t] , dat ed 11 .0 1. 20 19 a ris in g f ro m the as se ss me nt or der da te d 1 7.0 3. 2 01 6 pa ss ed b y th e As se ss in g Of f icer (A O) , u nd er Sec ti on 1 43 (3) of th e I nc o me T ax Ac t, 19 61 (th e Ac t) co nc er ni n g A Y 2 01 3-1 4. 2. As pe r g ro un ds of ap pea l, th e a ss es see ha s c ha llen ge d th e dis al lo wa nc e of R s.9 9, 09 1/ - a ll eg ed to be bo gu s an d f ict it io us lia bi li tie s s ho wn b y the a ss es se e in it s bo ok of acco un t. T he a ss es see als o c ha ll en ged th e di sa ll ow an ce un der Se ct io n 1 4A of the Ac t a mou nti ng to R s. 1 0,5 00 /- whi ch wa s how ev er w it hd ra wn a nd n ot pre ss ed at t he ti me of he ar in g. He nc e , t hi s g ro un d i s di s mis sed a s I.T.A. No.2284/Del/2019 2 not p re ss ed . 3. W it h th e as si st an ce of the ld. c ou ns el f or the ass es see , w e f ind tha t t he a dd it io n h as b ee n ma de b y a ppl yi n g Se ct io n 68 of the A ct due t o no n a va il ab ili t y of c onf i r mati o n f ro m su ch su nd r y c re dit or s tab ul at ed he re in : S . N o . N a m e o f t h e p a r t y O p e n i n g B a l a n c e D e b i t C r e d i t C l o s i n g B a l a n c e 1 . A r o r a H a n d i c r a f t s 1 7 , 7 0 7 / N i l N i l 1 7 , 7 0 7 / - 2 . D e v A r t & H a n d i c r a f t 7 8 , 8 9 0 / - 1 9 , 5 0 0 / - N i l 5 9 , 3 9 0 / - T o t a l ( A ) 9 6 , 5 9 7 / - 1 9 , 5 0 0 / - N i l 7 7 , 0 9 7 / - 3 . F i r s t R e c o u r s e & M o v e r s 3 0 , 5 8 1 / - 3 9 , 6 8 7 / - 1 2 , 9 6 5 / - 3 , 8 5 9 / - 4 . S u n i l K u m a r N i l N i l 1 8 , 1 3 5 / - 1 8 , 1 3 5 / - T o t a l ( B ) 3 0 , 5 8 1 3 9 , 6 8 7 / - 3 1 , 1 0 0 / - 2 1 , 9 9 4 / - 1 , 2 7 , 1 7 8 / - 5 9 , 1 8 7 / - 3 1 , 1 0 0 / - 9 9 , 0 9 1 / - 4. As re gar ds cr ed it f or ‘ Ar or a Han di cr a f ts’ ( su pr a) an d ‘ D ev Art & Ha nd icr af t’, i t was p oi nt ed o ut t h at no c re dit h as b e en re ce ive d dur in g th e ye a r an d t he li ab il it y d ec lar ed is o n acco un t of car r y f orwa rd o ut st an di n g, a p ar t of whi c h ha s be en r ep aid dur in g th e ye a r. I n th e li ght o f these f act s, t he r esp ec ti ve amo un ts out st an di ng to war ds t hes e tw o par ti es ca nn ot be a dde d un de r S ecti on 68 of t he Act . 4.1 As r eg ar ds ou tst an din g f ro m ‘ Fi rs t R eco ur se & Mov er s’ , it is con te nd ed t ha t th e out st an di ng of R s. 38 59/ - ha s b een ret urn ed bac k in t he s ub se qu e nt a sse ss me nt year , an d th er ef o re, mea ge r out st an di ng h as be e n d ul y r e pai d ul ti m ate l y. 4.2 As re ga rd s ‘ S un i l K u mar ’, it w a s s ub mi tt ed t hat th e out st an di ng of Rs .1 8,1 35 /- st oo d rep ai d in th e sub se qu en t ass es s men t ye a r, a nd th eref o re , a dd it ion u nd er Se ctio n 68 is n ot I.T.A. No.2284/Del/2019 3 jus tif i ed me rel y o w nin g t o n on co nf ir mat io n i n v ie w of t he d ec is io n in t he ca se of CI T v s. Ay ach i Ch an dr as ekh ar N a rsa n gji , 4 2 Ta xm an n.c o m 2 51 (Gu j ). 5. In vi ew of th e f act ual mat ri x po in te d out a s no te d ab ov e , we f ind n o ju st if ica ti o n f or i mpu gn ed a d dit io ns of Rs.99 ,0 91/ - u nd er cha ll en ge. Th e ac ti on of th e CI T( A) i s acco rd in gl y se t as i de a nd t he cla i m of th e as se s see i s di re ct ed t o be re st or ed b y th e Ass es si ng Of f icer . 6. In th e res ul t, t he ap pea l of th e as se ss ee is p artl y a ll ow ed . Order was pronounced in the open Court on 07/06/2022. Sd/- Sd/- [KUL BHARAT] [PRADIP KUMAR KEDIA] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: /06/2022 Prabhat