ACIT, New Delhi V. M/s Gangeshwari Metal Pvt. Ltd, Delhi

ITA 2886/DEL/2011

• Counselvise Citation: [2011] 119 COUNSELVISE.COM (IT) 7109 (ITAT-DELHI)
• Duration Of Justice: 6 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 19-12-2011
• Assessment Year: 2004-2005
• Appeal Filed On: 02-06-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B R R KUMAR
• Assessee Lawyers: O P SAPRA
• Keywords: Unexplained cash credit; Accommodation entries; Onus to prove
• Section: 68; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH C, NEW DELHI BEFORE SHRI G.D. AGRAWAL, HONBLE VICE PRESIDENT & SHRI C.L. SETHI, JUDICIAL MEMBER ITA NO. 2886/DEL/2011 ASSESSMENT YEAR: 2004-05 ACIT, VS. GANGESHWARI METAL P. LTD., CIRCLE 12(1), 6/233, DOONGAR MOHALLA, C.R. BLDG., FARASH BAZAR, NEW DELHI. SHAHDARA, NEW DELHI. AABCG 4856A (APPELLANT) (RESPONDENT) APPELLANT BY : SH. B.R.R. KUMAR, SR. DR RESPONDENT BY : SH. O.P. SAPRA, ADV. ORDER PER C.L. SETHI, J.M. IN THIS APPEAL FILED BY THE REVENUE AGAINST THE OR DER DATED 31.03.2011 PASSED BY THE LD. CIT(A) IN THE MA TTER OF AN ASSESSMENT MADE U/S 143(3)/147 OF THE INCOME TAX AC T, 1961 (THE ACT) FOR THE A.Y. 2004-05, THE ONLY GROUND RAI SED BY THE REVENUE IS DIRECTED AGAINST THE LD. CIT(A)S ORDER IN DELETING THE ADDITION OF RS. 55,50,000/- ON ACCOUNT OF ALLEG ED UNEXPLAINED SHARE APPLICATION MONEY U/S 68 OF THE A CT. ITA NO. 2886/D/11 2 2. IN THIS CASE, THE ASSESSEE FILED RETURN OF INCOM E DECLARING TOTAL INCOME AT RS. NIL ON 01.11.2004, WH ICH WAS PROCESSED U/S 143(1) OF THE ACT. SUBSEQUENTLY, THE AO ISSUED A NOTICE U/S 148 OF THE ACT ON 23.03.2009 FOR THE R EASON THAT THE ASSESSEE HAD ENTERED INTO BOGUS TRANSACTION WIT H SEVERAL PARTIES AND INTRODUCED RS. 1,11,50,000/- AS SHARE A PPLICATION MONEY FROM 13 PARTIES. IN REPLY TO THE NOTICE ISSU ED U/S 148 OF THE ACT, THE ASSESSEE SUBMITTED THE RETURN FILED OR IGINALLY ON 01.11.2004 MAY BE TREATED TO BE A RETURN FILED IN R ESPONSE TO A NOTICE U/S 148 OF THE ACT. THEREAFTER, THE AO CO MPUTED THE ASSESSMENT U/S 143(3)/148 OF THE ACT VIDE ORDER DAT ED 16.12.2009, WHEREIN AN ADDITION OF RS. 55,50,000/- WAS MADE BY THE AO. 3. IN THE COURSE OF ASSESSMENT PROCEEDINGS, IT WAS CLARIFIED BY THE ASSESSEE THAT THE ACTUAL AMOUNT RECEIVED BY THE ASSESSEE TOWARDS SHARE CAPITAL WAS ONLY RS. 55,50,0 00/- AND NOT RS. 1,11,50,000/- AS MENTIONED IN THE REASONS R ECORDED FOR ISSUING NOTICE U/S 148 OF THE ACT. THE ASSESSE ES AFORESAID CONTENTION WAS FOUND TO BE CORRECT, AND A O PROCEEDED TO EXAMINE THE NATURE AND SOURCE OF AFORE SAID CREDIT OF RS. 55,50,000/-, WHICH WAS TREATED BY HIM TO BE UNEXPLAINED BY OBSERVING AS UNDER: - ITA NO. 2886/D/11 3 INVESTIGATIONS MADE BY THE INVESTIGATION WING OF THE DEPARTMENT CLEARLY SHOWED THAT THIS WAS NOTHING BUT A SHAM TRANSACTION OF ACCOMMODATION ENTRY. THE ASSESSEE WAS ASKED TO EXPLAIN AS TO WHY THE SAID AMOUNT OF RS. 1,11,50,000/- MAY NOT BE ADDED TO ITS INCOME. IN RESPONSE, THE ASSESSEE HAS SUBMITTED THAT THERE IS NO SUCH CREDIT IN THE BOOKS OF THE ASSESSEE. RATHER, THE ASSESSEE COMPANY HAS RECEIVED THE SHARE APPLICATION MONEY FOR ALLOTMENT OF ITS SHARE. IT WAS STATED THAT THE ACTUAL AMOUNT RECEIVED WAS RS. 55,50,000/- AND NOT RS. 1,11,50,000/- AS MENTIONED IN THE NOTICE. THE ASSESSEE HAS FURNISHED DETAILS OF SUCH RECEIPTS AND THE CONTENTION OF THE ASSESSEE IN RESPECT OF THE AMOUNT IS FOUND CORRECT. AS SUCH THE UNEXPLAINED AMOUNT IS TO BE TAKEN AT RS. 55,50,000/-. THE ASSESSEE HAS FURTHER TRIED TO EXPLAIN THE SOURCE OF THIS AMOUNT OF RS. 55,50,000/- BY FURNISHING COPIES OF SHARE APPLICATION MONEY, BALANCE SHEET, ETC. OF THE PARTIES MENTIONED ABOVE AND ASSERTED THAT THE QUESTION OF ADDITION IN THE INCOME OF THE ASSESSEE DOES NOT ARISE. THIS EXPLANATION OF THE ASSESSEE HAS BEEN DULY CONSIDERED AND FOUND NOT ACCEPTABLE. THIS ENTRY REMAINS UNEXPLAINED IN THE HANDS OF THE ASSESSEE AS HAS BEEN ARRIVED BY THE INVESTIGATION WING OF THE DEPARTMENT. AS SUCH ENTRIES OF RS. ITA NO. 2886/D/11 4 55,50,000/- RECEIVED BY THE ASSESSEE ARE TREATED AS AN UNEXPLAINED CASH CREDIT IN THE HANDS OF THE ASSESSEE AND ADDED TO ITS INCOME. SINCE I AM SATISFIED THAT THE ASSESSEE HAS FURNISHED INACCURATE PARTICULARS OF ITS INCOME, PENALTY PROCEEDINGS U/S 271(1)(C) ARE BEING INITIATED SEPARATELY. 4. BEING AGGRIEVED, THE ASSESSEE PREFERRED AN APPEA L BEFORE THE LD. CIT(A). 5. BEFORE THE LD. CIT(A), IT WAS SUBMITTED BY THE A SSESSEE THAT ASSESSEE SUBMITTED VARIOUS DETAILS WITH REGARD TO THE SHARE APPLICATION MONEY RECEIVED FROM VARIOUS PARTI ES VIDE LETTERS DATED 20.11.2009, 04.12.2009 AND LETTER DAT ED NIL BEFORE THE AO. THE VARIOUS DETAILS FILED BY THE AS SESSEE CONSIST OF COMPLETE NAME AND ADDRESS OF SHARE APPLI CANTS, PAN/GIR NUMBER, CONFIRMATORY LETTERS FROM THE SHARE APPLICANTS, COPY OF BANK STATEMENT OF THE SHARE APP LICANTS, COPY OF BANK ACCOUNT OF THE ASSESSEE, CERTIFICATE O F INCORPORATION OF THE SHARE APPLICANTS, MEMORANDUM O F ASSOCIATION OF SHARE APPLICANTS, COPY OF SHARE APPL ICATION FORM AND AFFIDAVIT FROM THE DIRECTOR OF THE SHARE APPLIC ANTS. THE DETAILS OF DOCUMENTS FURNISHED BY THE ASSESSEE BEFO RE THE AO AS WELL AS BEFORE THE LD. CIT(A) ARE LISTED OUT IN PARA (A) TO (M) ITA NO. 2886/D/11 5 AT PAGES 4 TO 10 OF THE LD. CIT(A)S ORDER. THE AO HAS ALSO STATED IN THE ASSESSMENT ORDER THAT ASSESSEE FURNIS HED COPIES OF SHARE APPLICATION MONEY, BALANCE SHEETS E TC. OF THE SHARE APPLICANTS BEFORE HIM. AFTER EXAMINING THE D ETAILS FURNISHED BY THE ASSESSEE BEFORE THE AO AND PERUSIN G THE MATERIAL AVAILABLE ON RECORD, THE LD. CIT(A) HAD GI VEN THE FOLLOWING FINDINGS THAT THE ASSESSEE HAS FURNISHED VARIOUS DOCUMENTS IN SUPPORT OF SHARE CAPITAL BEFORE THE AO AND ALSO DURING THE APPELLATE PROCEEDINGS AS UNDER: - (I) COMPLETE NAME AND ADDRESS OF SHARE APPLICANT & PAN/GIR DETAILS. (II) CONFIRMATORY LETTERS OF THE SHARE APPLICANT. (III) COPY OF BANK STATEMENT OF THE SHARE APPLICANTS. (IV) COPY OF BANK A/C OF THE APPELLANT. (V) CERTIFICATE OF INCORPORATION OF THE SHARE APPLICANT. (VI) MEMORANDUM OF ASSOCIATION OF THE SHARE APPLICANT. (VII) COPY OF SHARE APPLICATION FORM. 6. THEREAFTER, THE LD. CIT(A) DISCUSSED ABOUT THE T HREE BASIC REQUIREMENTS TO BE LOOKED INTO FOR THE PURPOS E OF PROVING CASH CREDIT ENTERED INTO THE BOOKS. IN THA T REGARD, THE LD. CIT(A) OBSERVED AS UNDER: - ITA NO. 2886/D/11 6 THE ONUS OF PROVING CASH CREDIT IN THE BOOKS IS REBUTTABLE. THE ASSESSEE HAS TO DISCHARGE THE INITIAL ONUS BY PROVING THE IDENTITY OF THE CREDITOR BY FILING THE CONFIRMATORY LETTER AND OTHER RELEVANT DETAILS. THE PRESUMPTION IS REBUTTABLE AND THE DEPARTMENT IS ALSO REQUIRED TO BRING EVIDENCE ON RECORD IF WANTS TO REJECT THE EXPLANATION OF THE ASSESSEE. IT IS NOW SETTLED LAW THAT THERE ARE BASIC REQUIREMENTS IN CASE OF A CASH CREDIT: 1. THE IDENTITY OF THE CREDITOR. 2. THE CREDITWORTHINESS OF THE CREDITOR, AND 3. THE GENUINENESS OF THE TRANSACTION. 7. REGARDING ASSESSEES ONUS TO PROVE THE IDENTITY OF THE CREDITORS, THE LD. CIT(A) HAS OBSERVED AND HELD AS UNDER: - THE FIRST ISSUE IS THE IDENTITY OF THE CREDITORS. THE APPELLANT FILED THE FOLLOWING DETAILS IN REGARD TO THE CREDITORS: I) CONFIRMATORY AFFIDAVIT OF THE SHARE APPLICANTS II) PAN/GIR NO. III) COPY OF CERTIFICATE OF INCORPORATION OF SHARE APPLICANT. IV) COPY OF MEMORANDUM OF ASSOCIATION ALONG WITH NAME AND ADDRESS OF THE DIRECTORS. ITA NO. 2886/D/11 7 V) COMPLETE ADDRESS OF THE SHARE APPLICANT. VI) COPY OF ITR AND AUDITED ACCOUNTS OF THE SHARE APPLICANTS. THESE FACTS WERE SUBMITTED BY THE APPELLANT BEFORE THE AO. THIS SHOWS THAT THE IDENTITY OF THE SHARE APPLICANT HAS BETWEEN ESTABLISHED BEYOND DOUBT BY THE APPELLANT. IN THIS REGARD IT IS NOTICED THAT IN CASE OF P.K. SETHI VS. CIT (2006) 286 ITR 318 (GAU.), IT WAS HELD BY THE HONBLE HIGH COURT THAT THE IDENTITY OF THE CREDITOR IS PROVED WHEN A CREDITOR IS SHOWN TO BE AN INCOME TAX ASSESSEE. 8. WITH REGARD TO THE REQUIREMENT TO PROVE THE GENU INENESS OF THE TRANSACTION THE LD. CIT(A) HAS OBSERVED AS U NDER: - THE GENUINENESS OF THE TRANSACTIONS ARE ESTABLISHED AS THE TRANSACTIONS ARE ROUTED THOUGHT BANKING CHANNELS. IT IS SEEN THAT THE SHARE APPLICATION MONEY WAS RECEIVED THROUGH A/C PAYEE CHEQUES, DETAIL OF WHICH HAD BEEN FILED BY THE APPELLANT BY FILING THE COPY OF BANK A/C OF THE SHARE APPLICANTS. THUS, WHERE THE RETURN OF INCOME IS FILED BY THE CREDITORS OF THE ASSESSEE AND IS ACCEPTED BY THE DEPARTMENT, AND THE PAYMENTS ARE THROUGH A/C PAYEE CHEQUES THE GENUINENESS OF THE TRANSACTION CANNOT BE DOUBTED. ITA NO. 2886/D/11 8 9. THE LD. CIT(A) THEN MADE A REFERENCE TO THE DECI SION OF HONBLE DELHI HIGH COURT IN THE CASE OF CIT VS. M/S STELLAR INVESTMENT LTD., 192 ITR 287, AND STATED THAT THE F OLLOWING OBSERVATIONS OF THE TRIBUNAL HAS BEEN CONFIRMED BY THE HIGH COURT: - IT IS EVIDENT THAT EVEN IF IT BE ASSUMED THAT THE SUBSCRIBERS TO THE INCREASED SHARE CAPITAL WERE NOT GENUINE, NEVERTHELESS, UNDER NO CIRCUMSTANCES, CAN THE AMOUNT OF SHARE CAPITAL BE REGARDED AS UNDISCLOSED INCOME OF THE ASSESSEE. IT MAY BE THAT THERE ARE SOME BOGUS SHAREHOLDERS IN WHOSE NAMES SHARES HAD BEEN ISSUED AND THE MONEY IS SOUGHT TO BE REOPENED, THAT WOULD HAVE MADE SOME SENSE BUT WE FAIL TO UNDERSTAND AS TO HOW THIS AMOUNT OF INCREASED SHARE CAPITAL CAN BE ASSESSED IN THE HANDS OF THE COMPANY ITSELF. 10. THEREAFTER, THE LD. CIT(A) MADE A REFERENCE TO THE DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF M/S MONNET ISPAT AND ENERGY LTD. VS. DCIT (2008) 171 TA XMAN 27 (DEL.) AND IN THE CASE OF CIT VS. DIAMOND PRODUC TS LTD. AND RELYING ON THESE DECISIONS AND CONSIDERING THE TOTALITY OF FACTS AND CIRCUMSTANCES OF THE PRESENT CASE, HAS HE LD AND OBSERVED AS UNDER: - ITA NO. 2886/D/11 9 AFTER CONSIDERING THE TOTALITY OF ALL THE FACTS AND CIRCUMSTANCES AND THE LATEST JUDICIAL PRONOUNCEMENTS MADE BY THE JURISDICTIONAL DELHI HIGH COURT AND HONBLE SUPREME COURT, IT CAN BE CONCLUDED THAT THE APPELLANT COMPANY HAS UNDOUBTEDLY PROVED AND ESTABLISHED THE IDENTITY OF THE SHARE APPLICANT. ONCE THE IDENTITY OF THIS SHARE APPLICANT IS PROVED, NO ADDITION CAN BE MADE IN THE HAND OF THE APPELLANT COMPANY EVEN IF THE SHARE APPLICANTS HAVE BEEN FOUND PERSONS OF NO MEANS UNTIL AND UNLESS OTHERWISE IT IS PROVED BY THE REVENUE. THE REVENUE COULD NOT PROVE THAT THE MONEY RECEIVED BY THE APPELLANT IN THE FORM OF THE SHARE APPLICATION HAS COME FROM ITS OWN SOURCES. NO EVIDENCES REGARDING THIS HAVE BEEN BROUGHT ON RECORD BY THE AO. 11. THEREAFTER, THE LD. CIT(A) MADE A REFERENCE TO THE DECISION IN THE CASE OF CIT VS. DIVINE LEASING & FI NANCE LTD. (2007) 158 TAXMAN 440, CIT VS. LOVELY EXPORTS P. LT D. 116 CTR 185 (SC), CIT VS. STELLAR INVESTMENT LTD. (2001 ) 251 ITR 263 (SC), CIT VS. ORISSA CORPORATION P. LTD. (1986) 159 ITR 78 (SC), CIT VS. VALUE CAPITAL SERVICES P. LTD. 307 ITR 334, DECISION OF HONBLE DELHI HIGH COURT IN THE CASE OF CIT VS. SUNTECH VISION LTD. (ITA NO. 463/2010), CIT VS. DWA RKASHIS FINANCIAL SERVICES P. LTD. (ITA NO. 439/2010 OF HON BLE DELHI ITA NO. 2886/D/11 10 HIGH COURT), CIT VS. VICTOR ELECTRODES LTD. 42 DTR 152 (DEL.), CIT VS. ARUNANANDA TEXTILES P. LTD. (ITA NO. 1515/2 005, DECIDED ON 02.03.2010) OF KARNATAKA HIGH COURT, CIT VS. OASIS HOSPITALITIES (P) LTD. 2011-TIOL-69-HC-DEL-IT AND SOME OTHER DECISIONS, HAS CONCLUDED AND HELD AS UND ER: - IN THE INSTANT CASE NO EVIDENCE HAS BEEN BROUGHT ON RECORD BY THE AO TO PROVE THAT THE SHARE APPLICATION MONEY EMANATED FROM THE COFFERS OF THE APPLICANT. MOREOVER, THE AO HAS NOT BROUGHT ANY EVIDENCES ON RECORD TO SHOW THAT THE IDENTITY OF THE SHARE APPLICANT OR THE GENUINENESS OF THE TRANSACTION WAS NOT PROVED BY THE APPELLANT. REGARDING THE CREDITWORTHINESS THE APPELLANT HAS SUBMITTED THE BANK STATEMENTS OF THE SHARE APPLICANTS WHICH SHOW THAT SUFFICIENT BALANCE WAS THERE IN THE ACCOUNTS TO SUBSCRIBE TO THE SHARE CAPITAL WHICH IS IN ACCORDANCE WITH THE OBSERVATION OF THE HONBLE DELHI HIGH COURT IN THE CASE OF CIT VS. OASIS HOSPITALITIES (P) LTD. DISCUSSED ABOVE. RELYING ON THE VARIOUS DOCUMENTS PLACED ON RECORD AND THE PRINCIPLE LAID DOWN BY THE HONBLE SUPREME COURT IN THE CASE OF M/S LOVELY EXPORTS PVT. LTD. WHICH IS DIRECTLY ON THE ISSUE OF SHARE CAPITAL AND IN VIEW OF THE DECISIONS CITED ABOVE THE ADDITION ON ACCOUNT ITA NO. 2886/D/11 11 OF SHARE CAPITAL CANNOT BE SUSTAINED. THE AO HAS NO WHERE PROVED THAT DOCUMENTS IN SUPPORT OF THE IDENTITY OF THE PARTY HAVE NOT BEEN PLACED ON RECORD OR THEY WERE FORGED DOCUMENTS. THE AO ALSO HAS NOT BROUGHT ANY EVIDENCE ON RECORD REGARDING THE FACTS THAT THE SHARE APPLICANTS WERE NOT CREDITWORTHY OR GENUINE, DESPITE THE FACT THAT THEIR PAN AND CONFIRMATORY AFFIDAVIT AND THE DETAILS OF THE AO WHERE THE SHARE APPLICANTS WERE ASSESSED WERE SUBMITTED BY THE APPELLANT ALONG WITH COPY OF BANK ACCOUNTS OF THE SHARE APPLICANTS. IN VIEW OF THE FINDINGS ABOVE AND THE JUDICIAL PRECEDENTS ON THE SUBJECT THAT ONCE THE IDENTITY OF THE SHARE APPLICANTS WERE PROVED BY THE APPELLANT, WHICH IN THE INSTANT CASE HAS NOT BEEN CONTROVERTED BY THE AO, THE ADDITION OF RS. 55,50,000/- MADE BY THE AO ON ACCOUNT OF UNEXPLAINED SHARE APPLICATION MONEY IS DELETED. HOWEVER, THE AO IS FREE TO TAKE APPROPRIATE ACTION AS MAY BE PERMISSIBLE UNDER THE LAW IN THE CASE OF VARIOUS SHARE HOLDERS ALLEGED TO BE ENTRY PROVIDERS. 12. IN THE COURSE OF HEARING OF THIS APPEAL, THE LD . DEPARTMENTAL REPRESENTATIVE HAS NOT BEEN ABLE TO PO INT OUT ANY MATERIAL TO REBUT THE FINDINGS RECORDED BY THE LD. CIT(A) IN THE LIGHT OF THE VARIOUS DOCUMENTS AND EVIDENCES FU RNISHED BY THE ASSESSEE BEFORE THE AO AS WELL AS BEFORE THE LD . CIT(A). ITA NO. 2886/D/11 12 THE LD. DR HAS MERELY RELIED UPON THE AOS ORDER TO CONTEND THAT SINCE THERE WAS AN INFORMATION FROM THE INVEST IGATION WING THAT ALL THE SHARE APPLICANTS WERE ENGAGED IN PROVIDING ACCOMMODATION ENTRIES, THE AO WAS JUSTIFIED IN TREA TING THE CREDIT ENTRIES AS UNEXPLAINED LIABLE TO BE TAXED IN THE HANDS OF THE ASSESSEE. HOWEVER, NEITHER THE AO NOR THE LD. DR BEFORE US HAS BEEN ABLE TO PROVE AND ESTABLISH THAT THE VA RIOUS DOCUMENTS AND EVIDENCES FILED BY THE ASSESSEE ARE I N ANY MANNER FALSE AND FABRICATED, AND ASSESSEE HAS NOT B EEN ABLE TO DISCHARGE ITS INITIATION ONUS. THEREFORE, IN TH E LIGHT OF THE DETAILED DISCUSSIONS MADE BY THE CIT(A) IN HIS ORDE R AND FOR THE REASONS GIVEN BY HIM, WE ARE IN FULL AGREEMENT WITH HIM IN DELETING THE ADDITION OF RS. 55,50,000/- MADE BY TH E AO AFTER GIVING A FINDING BY HIM THAT THE AO HAS NOWHERE BEE N ABLE TO PROVE THAT THE DOCUMENT IN SUPPORT OF THE IDENTITY OF THE PARTIES HAVE NOT BEEN PLACED ON RECORD OR OTHERWISE THERE WERE FORGED DOCUMENTS, AND FURTHER THE AO HAS ALSO NOT BROUGHT ANY EVIDENCE ON RECORD REGARDING THE FACTS THAT THE SHARE APPLICANTS WERE NOT CREDITWORTHY OR GENUINE D ESPITE THE FACT THAT THEIR PAN AND CONFIRMATORY AFFIDAVITS AND THE DETAILS OF THE AO, WHERE THE SHARE APPLICANTS WERE ASSESSED WERE SUBMITTED BY THE ASSESSEE ALONG WITH COPY OF BANK A CCOUNTS OF THE SHARE APPLICANTS. IN THIS VIEW OF THE MATTE R, WE, ITA NO. 2886/D/11 13 THEREFORE, UPHELD THE ORDER OF LD. CIT(A) AND REJEC T THIS GROUND RAISED BY THE REVENUE. 13. IN THE RESULT, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. THIS DECISION WAS PRONOUNCED IN THE OPEN COURT ON 19.12.2011 IMMEDIATELY AFTER THE HEARING WAS OVER. SD/- SD/- (G.D. AGGRAWAL) (C.L. SETHI ) VICE PRESIDENT JU DICIAL MEMBER DATED: 19.12.11 *KAVITA COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT TRUE COPY BY ORDER, DEPUTY REGISTRAR ITA NO. 2886/D/11 14 ITA NO. 2886/D/11 15