M/s. G.K. Dairy & Milk Products Pvt. Ltd., New Delhi V. Addl. CIT, New Delhi

ITA 3064/DEL/2014

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 2870 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 3 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-09-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Next Hearing Date: 20-06-2017
• Assessment Year: 2009-2010
• Appeal Filed On: 16-05-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES C: DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA.NO.3064/DEL./2014 ASSESSMENT YEAR 2009-2010 M/S. G.K. DAIRY & MILK PRODUCTS PVT. LTD., B-5, PRAGATI CHAMBERS, RANJIT NAGAR, NEW DELHI. PAN AAACG3118J VS., THE ADDL. CIT, RANGE-12, NEW DELHI. (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI ABHISHEK MATHUR, ADVOCATE. FOR REVENUE : SHRI AMIT KATOCH, SR. D.R. DATE OF HEARING : 21.08.2019 DATE OF PRONOUNCEMENT : 02.09.2019 ORDER PER BHAVNESH SAINI, J.M. THIS APPEAL BY ASSESSEE HAS BEEN DIRECTED AGAINST THE ORDER OF THE LD. CIT(A)-XV, NEW DELHI, DATED 31.03.2014 FOR THE A.Y. 2009-2010. 2. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. 2 ITA.NO.3064/DEL./2014 M/S. G.K. DAIRY & MILK PRODUCTS PVT. LTD., NEW DELHI. 3. LEARNED COUNSEL FOR THE ASSESSEE DID NOT PRES GROUND NOS. 1 AND 2 OF THE APPEAL OF ASSESSEE. THE SAME ARE ACCORDINGLY DISMISSED AS NOT PRESSED. 4. ON GROUND NO.3, ASSESSEE CHALLENGED THE ADDITION OF RS.5,09,155/- UNDER SECTION 41(1) OF TH E I.T. ACT. THE A.O. NOTED THAT DURING THE COURSE OF ASSESSMENT PROCEEDINGS IT WAS SEEN THAT FOLLOWING SUNDRY CREDI TORS ARE OUTSTANDING FOR THE LAST THREE CONSECUTIVE YEARS : I. NEW MODEST ENGINEERS RS.1,04,500/- II. GRAPHICS ADS P. LTD., RS.3,16,761/- III. JMD PROJECTS P. LTD., RS. 87,894 ------------------ RS.5,09,155/- ------------------- 4.1. THE ASSESSEE CONTENDED BEFORE THE A.O. THAT THESE CREDITORS ARE STILL PAYABLE. THE AMOUNT PAYAB LE TO THEM HAS ACCRUED TO THEM IN THE COURSE OF RUNNING O F BUSINESS AND THE COMPANY PLANS TO MAKE PAYMENT TO T HESE CREDITORS ON THE BASIS OF DEMAND RAISED BY THEM. TH E A.O. HOWEVER, DID NOT ACCEPT THE CONTENTION OF ASSESSEE AND MADE THE ADDITION. THE LD. CIT(A) CONFIRMED THE ADD ITION. 3 ITA.NO.3064/DEL./2014 M/S. G.K. DAIRY & MILK PRODUCTS PVT. LTD., NEW DELHI. 5. AFTER CONSIDERING THE RIVAL SUBMISSIONS, WE ARE OF THE VIEW THAT THE ADDITION IS NOT JUSTIFIED. THE LI ABILITY EXIST IN THE BOOKS OF ACCOUNT ARE PERTAIN TO THE EARLIER YEARS. THE SUNDRY CREDITORS ARE BROUGHT FORWARD FROM THE EARLI ER YEARS WHICH HAVE NOT BEEN DOUBTED BY THE A.O. THEREFORE, THERE IS NO QUESTION OF MAKING ADDITION IN THE ASSESSMENT YE AR UNDER APPEAL. IN VIEW OF THE ABOVE, WE SET ASIDE TH E ORDERS OF THE AUTHORITIES BELOW AND DELETE THE ADDITION. 6. IN THE RESULT, APPEAL OF ASSESSEE PARTLY ALLOWE D. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (O.P. KANT) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DELHI, DATED 2 ND SEPTEMBER, 2019 VBP/- COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT(A) CONCERNED 4. CIT CONCERNED 5. D.R. ITAT C BENCH 6. GUARD FILE //BY ORDER// ASST. REGISTRAR : ITAT : DELHI BENCHES : DELHI. 4 ITA.NO.3064/DEL./2014 M/S. G.K. DAIRY & MILK PRODUCTS PVT. LTD., NEW DELHI. DATE OF DICTATION 21.08.2019 DATE ON WHICH THE TYPED DRAFT ORDER IS PLACED BEFOR E THE DICTATION MEMBER 29.08.2019 DATE ON WHICH THE APPROVAL DRAFT COMES TO THE SR. P S 02.09.2019 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATION MEMBER FOR PRONOUNCEMENT 02.09.2019 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. P.S. 02.09.2019 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 02.09.2019 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 03. 09.2019 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER.