M/s. R. V. Earthmovers (P) Ltd., New Delhi V. ACIT, Ghaziabad

ITA 3076/DEL/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 4143 (ITAT-DELHI)
• Duration Of Justice: 10 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-04-2011
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: F
• Next Hearing Date: 25-04-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 18-06-2010
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAVI RAMACHAN DRAN
• Assessee Lawyers: RAKESH GUPTA
• Keywords: Opportunity of being heard; Additional evidence
• Section: 40A(3); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH F NEW DELHI) BEFORE SHRI R.P. TOLANI, JUDICIAL MEMBER AND SHRI B.K. HALDAR, ACCOUNTANT MEMBER I.T.A. NO.3076 /DEL/2010 ASSESSMENT YEAR : 2006-07 M/S R.V. EARTHMOVERS (P) LTD., ACIT, C/O RRA TAXINDIA, D-28, CIRCLE-2, SOUTH EXTN. PART-I, N. DELHI. V. GHAZIABAD. (APPELLANT) (RESPONDENT) PAN /GIR/NO. PAN /GIR/NO. PAN /GIR/NO. PAN /GIR/NO.AACCR AACCR AACCR AACCR- -- -6512 6512 6512 6512- -- -M MM M APPELLANT BY : SHRI RAKESH GUPTA, ADVOCATE. RESPONDENT BY : SHRI RAVI RAMA CHANDRAN, SR. DR. ORDER PER B.K. HALDAR, AM: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF LD CIT(A), GHAZIABAD DATED 29.3.2010 FOR ASSESSMENT YEAR 2 006-07. THE APPELLANT HAS TAKEN THE FOLLOWING GROUNDS OF APPEALS:- 1.THAT HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE, LD. CIT(A) HAS ERRED IN LAW AND ON FACTS IN CONFIRMIN G THE ACTION OF LD. A.O. IN MAKING ADDITION OF RS.5,50,000/- OUT OF CONSOLIDATED AMOUNT OF RS.12,00,OOO/- RECEIVED BY TH E ASSESSEE AS SECURITY DEPOSIT FROM M/S SO OXYGEN GASES (P) LTD . (RS.6,50,000/-), SH. AJAY PRATAP SINGH (3,50,000/-), SH. ASHOK SHARMA (1,00,000/-) AND DIMPLE GARG (1,00,000/- ) PAGE 2 OF 11 ITA NO3076./DEL/10 2. THAT HAVING REGARD TO THE FACTS AND CIRCUMSTANCE S OF THE CASE, LD. CIT(A) HAS ERRED IN LAW AND ON FACT MAKING THE D ISALLOWANCE OF RS.23,328/- (I.E. 20% OF 1,16,640) 40A(3) N ACCO UNT OF MACHINE REPAIR AND MAINTENANCE EXPENDITURE INCURRE D IN CASH. - 3. THAT IN ANY CASE AND IN ANY VIEW OF THE MATTER, T HE ACTION OF LD. CIT(A) IN NOT DELETING THE ADDITIONS/DISALLOWANCE S FULLY AS MADE BY LD. A.O. IN THE IMPUGNED ORDER AND IN FRAMI NG THE IMPUGNED ASSESSMENT ORDER IS BAD IN LAW AND AGAINST THE FACTS AND CIRCUMSTANCES OF THE CASE, VOID AB INITIO, AND THE SAME IS NOT SUSTAINABLE ON VARIOUS LEGAL AND FACTUAL GROUNDS. 4. THAT THE ASSESSEE CRAVES THE LEAVE TO ADD,. ALTER OR AMEND THE GROUNDS OF APPEAL AT ANY STAGE AND ALL THE GROUNDS A RE WITHOUT PREJUDICE TO EACH OTHER. 2. AT THE TIME OF HEARING, LD AUTHORIZED REPRESENTAT IVE FOR THE ASSESSEE HAS NOT PRESSED GROUND NO.2 TAKEN BY THE APPELLAN T. THE ONLY GROUND PRESSED BY HIM WAS THE CONFIRMATION OF ADDITION OF `.5,50,000/- U/S 68 OF THE INCOME TAX ACT, 1961 BY THE LD CIT(A) WITH REFERENCE TO SHRI AJAY PRATAP SINGH, SHRI ASHOK SHARMA AND DIMPLE GARG. 3. DURING THE ASSESSMENT PROCEEDINGS, IT WAS NOTICED BY THE ASSESSING OFFICER THAT THE ASSESSEE DISCLOSED RECEIPT OF SECUR ITY DEPOSIT OF `.32,00,000/- OUT OF WHICH `.12,00,000/- WAS SHOWN TO HAVE BEEN RECEIVED FROM M/S SD OXYGEN GASES (P) LTD. & OTHE RS. THE ASSESSING OFFICER IN THE ASSESSMENT ORDER ADDED `.12,00,000 /- U/S 68 OF THE ACT BY OBSERVING AS UNDER:- PAGE 3 OF 11 ITA NO3076./DEL/10 FURTHER FROM THE COPY OF ACCOUNT OF M/S S.D. OXYGEN GASES (P) LTD., IT IS REVEALED THAT THE ASSESSEE RECEIVED A SUM OF RS. 3,50,0001- ON 11.10.2005 THROUGH I CHEQUE FROM SH. AJAY PRATAP SINGH AND CREDITED THE ACCOUNT OF S.D. OXYGEN GASES ( P) LTD. ON 27.03.2006. A SUM OF RS. 1,00,000/- RECEIVED FROM DIM PLE GARG AND RS. 1,00,0001- FROM ASHOK SHARMA BY CREDITING TH E ACCOUNT OF S.D. OXYGEN GASES (P) LTD. WHICH IS IN CLEAR VIOL ATION OF SECTION 269SS AND PENALTY PROCEEDINGS ULS 271D WILL BE INITI ATED ON THIS ISSUE. SIMILARLY IN THE SAME COPY OF ACCOUNT A SUM OF RS. 3,50,0001- SHOWN REPAID TO SH. AJAY PRATAP SINGH, RS. 1,00,000/- TO ASHOK SHARMA AND RS. 1,00,0001- TO DIMPLE GARG BY DEBITING THE ACCOUNT OF M/S S.D .. OXYGEN GASES (P) LTD. WHICH IS ALSO IN CLEAR VIOLATION OF \ PROVISIONS OF SECTION 269T OF THE LT. ACT AND THE ASSESSEE IS LIABLE FOR PENAL ACTION ULS 271 E ON THIS ISSUE FOR WHICH PROCEEDINGS ARE BEING INITIATED SEPARATELY. IT IS WORTHWHILE TO MENTION HERE THAT TOTAL AMOUNT O F RS. 12,00,0001RECEIVED DURING THE YEAR HAVE BEEN REPAI D LEAVING THE CLOSING BALANCE AT RS. NIL WHILE IN THE LIST OF SEC URITY DEPOSITS A SUM OF RS. 12,00,0001- IS SHOWN AS IN THE NAME OF MIS S .D. OXYGEN GASES (P) LTD. THEREFORE THE PLEA OF THE ASSESSEE THAT IT IS A SECURITY DEPOSIT CANNOT BE ACCEPTED AS IF IT IS SO W HY THE SAME HAS BEEN REPAID BACK TO M/S S.D. OXYGEN GASES LTD. 4. AGGRIEVED THE ASSESSEE FILED APPEAL BEFORE THE LD C IT(A). BEFORE THE LD CIT(A), THE ASSESSEE IN ITS WRITTEN SUBMISSIONS STATE D AS UNDER:- II. MIS S.D. OXYGEN GASES PVT. LTD. & OTHERS (RS. 12,00 J)001-) THE AMOUNT OF RS. 12,00,000/- WAS RECEIVED AS PER DET AILS FOLLOWS: PAGE 4 OF 11 ITA NO3076./DEL/10 RS. 3,50,000/- FROM SH. AJAY PRATAP SINGH ON 11-10-0 5 RS. 6,50,000/0 FROM S. D.OXYGEN GASES PVT. ON 15-10-20 05 RS. 1,00,000/- FROM DIMPLE GARG ON 27-03-2006 RS. 1,00,000/- FROM ASHOK SHARMA ON 27-03-2006 CONFIRMED COPY OF ACCOUNT WITH COPY OF ACKNOWLEDGEM ENT OF ITR WERE FILED BEFORE A.O. COPY OF BANK ACCOUNT OF S.D. OXYGEN GASSES PVT. ITD. WAS NEVER CALLED BY A.O. DURING ASSESSMEN T PROCEEDINGS. (ANNEXURE 14 & 15) . COPY OF BANK STATEM ENT OF S.D. OXYGEN GASES, CONFIRMATION OF SH. AJAY PRATAP SI NGH, DIMPLE GARG, ASHOK SHARMA ALONG WITH THEIR BANK STATE MENTS ARE ENCLOSED. (A SEPARATE APPLICATION UNDER RULE 46A OF LT. RULES IS FILED FOR ADMITTING AS ADDITIONAL EVIDENCES WHICH C OULD NOT BE FILED IN ASSESSMENT PROCEEDINGS BECAUSE NOT ASKED BY A.O). FURTHER ASSESSEE HAS REPAID THE AMOUNT OF RS. 12,00,000/THROUGH ALE PAYEE CHEQUE IN FINANCIAL YE AR 2007-08 BEFORE THE FINALIZATION OF ASSESSMENT PROCEEDINGS. THE ABOVE AMOUNT WAS REPAID DURING THE FINANCIAL YEA R 2007-08 BEFORE ASSESSMENT LEAVING NIL BALANCES. RS. 6,50,0001- WA S RECEIVED FROM BANK ACCOUNT OF S.D. OXYGEN GASES PVT. LTD. DIRECTLY AND REST AMOUNT OF RS. 5,50,000/- WAS RECEIVE D FROM THE ACCOUNT OF SH. AJAY PRATAP SINGH, DIMPLE GARG AND A SHOK SHARMA. THIS AMOUNT OF RS. 5,50,000/- WAS RECEIVED THR OUGH ACCOUNT PAYEE CHEQUE FROM THE BANK ACCOUNT OF SH. A JAY PRATAP SINGH, DIMPLE GARG AND ASHOK SHARMA. ACCOUNT OF S.D . OXYGEN GASES PVT. LTD. WAS CREDITED AS DIRECTION OF ABOVE. LD. A.O. HAD INITIATED THE PROCEEDINGS U/S 271 D & 271 E TREATING THE PAGE 5 OF 11 ITA NO3076./DEL/10 ACCEPTANCE OF LOAN! DEPOSITS AND REPAYMENT THEREOF IN CONTRAVENTION OF SECTION 269SS AND 269T OF I.T. ACT . IT IS PERTINENT TO MENTION HERE THAT A.O. IN LAST PAR A OF PAGE 5 OF THE ASSESSMENT ORDER WHICH IS REPRODUCED HERE ' IT IS WOR THWHILE TO MENTION HERE THAT TOTAL AMOUNT OF RS. 12,00,000/- RECEIVED DURING THE YEAR HAVE BEEN REPAID LEAVING THE CLOSING BALANCE AT RS. NIL WHILE IN THE LIST OF SECURITY DEPOSITS A SUM OF RS. 12,00,000/- IS SHOWN AS IN THE NAME OF MIS S. D. OXYGEN GASES (P) LTD. THEREFORE THE PLEA OF THE ASSESSEE THAT IT IS A SECURITY DEPOSITS CANNOT BE ACCEPTED AS IF IT IS SO WHY THE SAME HAS BEEN REPAID BACK TO MIS S.D. OXYGEN GASES (P) LTD' . THE ASSESSING OFFICER HAD OVERLOOKED THE FACT THAT REPA YMENT WAS MADE THOUGH ACCOUNT PAYEE CHEQUE IN THE FINANCIA L YEAR 2007-08 BEFORE THE DATE OF FINALIZATION OF ASSESSMENT O RDER AND CONSOLIDATED COPY OF CONFIRMED ACCOUNT WAS FILED. ON 31.3.2006 I.E. THE DATE OF BALANCE SHEET FOR THE YEAR UNDER AP PEAL THERE WAS AMOUNT OUTSTANDING. A.O. HAD INITIATED THE PROCEEDINGS U/S 271D & 271E O F THE ACT FOR ALLEGED CONTRAVENTION OF SECTION 26988 & 269T OF THE ACT. APPELLANT COMPANY IN PENALTY PROCEEDINGS U/S 271 D & 271 E OF THE ACT FILED THE REPLY ALONG WITH COPY OF BANK STAT EMENTS OF ALL ABOVE NAMED THESE PERSONS AND AFTER SATISFYING THE REPLY ADDL. COMMISSIONER OF 1. TAX RANGE-2 DROP THE PROCEEDINGS U/ S 271D AND 271E OF THE ACT. COPY OF THE ORDER DATED 22.06. 2009 ENCLOSED AND MARKED AS ANNEXURE 16, 17, 18 & 19). PAGE 6 OF 11 ITA NO3076./DEL/10 FROM THE ABOVE IT IS CLEAR THAT ASSESSEE HAD DISCHARGED T HE INITIAL BURDEN AND LD. A.O. HAS FAILED TO INQUIRE IN TO FURTHER IF HE WAS NOT SATISFIED ABOUT THE TRANSACTION AND PAPERS FILED BY APPELLANT COMPANY. UNDER THE ABOVE CIRCUMSTANCES ADDI TION OF RS. 12,00,000/- MADE BY LD. A.O. DESERVES TO DELETED. 5. THE LD CIT(A) SENT THE WRITTEN SUBMISSION FURNISHED BY THE ASSESSEE TOGETHER WITH THE ADDITIONAL EVIDENCE WHICH WA S PRODUCED BEFORE HIM TO THE ASSESSING OFFICER FOR HIS COMMENT. WIT H REFERENCE TO THE ADDITION OF `.12,00,000/- MADE U/S 68 OF THE ACT RELATING TO M/S SD OXYGEN GASES (P) LTD. & OTHERS, THE ASSESSING OFFICERS RE MAND REPORT READS AS UNDER:- (B) M/S SD OXYGEN GASES PVT. LTD. & OTHERS `.12,00,000 /- : ON EXAMINATION DURING THE COURSE OF ASSESSMENT PROCEEDING ASSESSEE FILED THE COPY OF CONFIRMATION GIVING PAN AND COPY OF ITR. BANK ACCOUNT WAS NOT FILED, NOW WHICH IS FILED W ITH THE APPLICATION UNDER RULE 46A. AS THE ASSESSEE FILED THE CONSOLIDATED COPY COVERING FINANCIAL YEAR 2005-06 & 2006-07 OF CONFIRMED /AC OF DEPOSITOR IN WHICH LAST BALANCE WAS N IL THEREFORE, BY MISTAKE IN ASSESSMENT ORDER IT WAS CONSTRUED THAT ASSESSEE HAD REPAID THE AMOUNT WHILE IT IS SHOWN IN THE B ALANCE SHEET. FACTUALLY ASSESSEE HAS TAKEN THE MONEY FROM THE A CCOUNT OF THE FOLLOWING PERSONS:- SD OXYGEN (P) LTD. `.6,50,000/- SHRI AJAY PRATAP SINGH `. 3,50,000/- SHRI ASHOK SHARMA. `. 1,00,000/- DIMPLE GARG. `. 1,00,000/- TOTAL `.12,00,000/- PAGE 7 OF 11 ITA NO3076./DEL/10 THE ACCOUNT OF THE SD OXYGEN (P) LTD. TRANSACTED THE ABOVE AMOUNT ON THEIR ACCOUNT. LATER ON, IN THE FINANCIAL YEAR 2007-08, THE ABOVE AMOUNT WAS RETURNED BACK. ACCOUNT OF M/S SD OXYGEN (P) LTD. WAS CREDITED/DEBITED ON THEIR INSTRUCTION. O N EXAMINATION OF BANK STATEMENT (WHICH IS FILED AS AN ADDITIONAL EV IDENCE), IT IS REVEALED THAT THE SAID TRANSACTION OF `.12,00,000/- I S DULY DISCLOSED IN THE BANK ACCOUNT OF THE LENDER WITH CORR ESPONDING CLEARING IN THE BANK ACCOUNT OF THE ASSESSEE COMPANY. T HE ABOVE AMOUNT WAS REPAID DURING THE FINANCIAL YEAR 20 07-08 BEFORE ASSESSMENT LEAVING NIL BALANCE. FROM THE BANK AC COUNT OF M/S SD OXYGEN GASES (P) LTD. IT IS REVEALED THAT `.6,5 0,000/- WAS RECEIVED FROM COMPANY DIRECTLY AND `.5,50,000/- WAS RECEIVED FROM THE ACCOUNT OF SHRI AJAY PRATAP SINGH, DIMPLE GARG AND SHRI ASHOK SHARMA. THIS AMOUNT OF `.5,50,000/- WAS RECEIVE D THROUGH ACCOUNT PAYEE CHEQUE FROM THE BANK ACCOUNT OF SHRI AJAY PRATAP SINGH, DIMPLE GARG AND SHRI ASHOK SHARMA. ACCOUNT OF SD OXYGEN GASES (P) LTD. WAS CREDITED AS DIRECTION OF ABOV E. DURING THE COURSE ASSESSMENT PROCEEDINGS PENALTY FOR CONTRAVENTION OF PROVISIONS OF SECTION 271D & 271E OF THE ACT WAS INITIATED. ASSESSEE FILED THE EVIDENCES AND SUPPORTI NG DOCUMENTS IN SUPPORT OF ITS CLAIM THAT TRANSACTION W AS GENUINE AND NO CASH TRANSACTION WERE MADE, ON BEING SATISFIED. ADDL. CIT RANGE-2 HAS DROPPED THE PROCEEDINGS U/S 271D & 271E O F THE INCOME TAX ACT, 1961 VIDE ORDER DATED 22.6.2009. UNDER THE ABOVE CIRCUMSTANCES DEPOSIT OF `.6,50,000/- STAND DULY EXPLAINED, BUT IN LACK OF ITR COPY OF BANK ACC OUNTS OF AJAY PAGE 8 OF 11 ITA NO3076./DEL/10 PRATAP SINGH, ASHOK SHARMA & DIMPLE GARG `.5,50,000 /- REMAIN UNEXPLAINED. 6. IN THE ABOVE FACTS AND CIRCUMSTANCES OF THE CASE, L D CIT(A) UPHELD THE ADDITION OF `.5,50,000/- ON ACCOUNT OF F OLLOWING CREDITORS:- 1. SHRI AJAY PRATAP SINGH `.3,50,000/- 2. SHRI ASHOK SHARMA. `.1,00,000/- 3. MS. DIMPLE GARG. `. 1,00,000/- THE REASON FOR DOING SO WAS THAT THE ASSESSEE FAILED TO FU RNISH COPY OF THE CREDITORS BANK ACCOUNTS AND INCOME TAX RETURNS. I T WAS OPINED BY HIM THAT THE GENUINENESS OF THE CREDITS IN THE NAME OF ABOVE PARTIES WAS NOT ESTABLISHED BY THE ASSESSEE. AGGRIEVED, THE ASSESSEE HAS FILED APPEAL BEFORE THE TRIBUNAL. 7. BEFORE US THE LD AUTHORIZED REPRESENTATIVE FOR THE ASSESSEE HAS REITERATED THE SUBMISSIONS MADE BEFORE THE AUTHORITIES B ELOW. HE HAS EMPHASIZED THE FACT THAT PENALTY PROCEEDINGS U/S 271D & 271E OF THE ACT WAS INITIATED BY THE ADDL. CIT WITH REFERENCE TO THE AMOUNT RECEIVED FROM AND PAID BACK TO THE SE CREDITORS AND SU BSEQUENTLY SUCH PROCEEDINGS WERE DROPPED BY ACCEPTING THE SUBMISSIONS OF THE ASSESSEE. ACCORDING TO HIM THIS WOULD SHOW THAT THE AMOUN TS WERE TAKEN AS WELL AS REPAID BY THE A/C PAYEE CHEQUES ONLY. IN SUCH CIRCUMSTANCES, IT WAS CONTENDED BY HIM THAT THE IMPUG NED ADDITION WAS NOT CORRECTLY SUSTAINED BY THE LD CIT(A). IN SUPPO RT OF THE ABOVE CONTENTION THE LD AUTHORIZED REPRESENTATIVE FOR THE ASSESSEE RELIED ON ASSESSEES PAPER BOOK PAGES 6-8, 10,21,22,26,28,12,14 & 1 5. HOWEVER, WHEN ASKED BY THE BENCH AS TO WHETHER COPIES OF BANK ACCOUNT OF THE IMPUGNED CREDITORS WERE FURNISHED DURI NG THE APPELLATE PAGE 9 OF 11 ITA NO3076./DEL/10 PROCEEDINGS BEFORE THE LD CIT(A) AS ADDITIONAL EVID ENCE, IT WAS SUBMITTED BY THE LD AR FOR THE ASSESSEE THAT IN FACT THE SAME WAS NOT DONE. IT WAS, THEREFORE, SUBMITTED BY HIM THAT IN THE ABOVE FACTS, THE MATTER MAY BE REMITTED BACK TO THE FILE OF THE ASSESSIN G OFFICER FOR FRESH CONSIDERATION. 8. THE LD DEPARTMENTAL REPRESENTATIVE, ON THE OTHER HAND, IN ADDITION TO RELYING ON THE ORDERS OF THE AUTHORITIES BELOW SUBMITTED THAT DROPPING OF PROCEEDINGS INITIATED U/S 271D & 271 E OF THE ACT HAVE NO RELEVANCE IN DECIDING THE ISSUE OF ADDITION MADE U /S 68 OF THE ACT. IT WAS CONTENDED BY HIM THAT AS THE IMPUGNED AMOUNTS HAVE BEEN TREATED AS THE INCOME OF THE ASSESSEE, THE SAME COULD NOT HAVE BEEN CONSIDERED AS LOAN TAKEN FROM THESE PARTIES. IT WAS ALSO SUBMITTED BY HIM THAT ARGUMENTS MADE BY THE LD AR ARE NOT SUPPORT ED BY ANY EVIDENCE ON RECORD. IT WAS, THEREFORE, ARGUED BY HIM THAT THE LD CIT(A) HAS CORRECTLY SUSTAINED THE IMPUGNED ADDITION OF `.5,5 0,000/-. 9. WE HAVE HEARD THE PARTIES AND PERUSED THE RECORD. WE FIND THAT THE REVENUE HAS NOT DISPUTED THAT THE IMPUGNED AMOUN TS WERE RECEIVED BY THE ASSESSEE FROM THE CREDITORS BY A/C PAYE E CHEQUES. ASSESSEES PAPER BOOK PAGE 26, WHICH IS COPY OF BANK ACCO UNT OF THE ASSESSEE IN CANARA BANK, REFLECTS THAT THE IMPUGNED AMOU NTS WERE PAID BACK TO THE PARTIES BY CHEQUE NOS. 821926, 8219 28 & 821929 ON 14.11.2007, 19.11.2007 AND 20.11.2007 RESPECTIVELY. IN THE ABOVE FACTS, WE ARE OF THE CONSIDERED OPINION THAT THE ISSUE INVOLVED IN THE PRESENT CASE REQUIRES RE-CONSIDERATION ESPECIALLY WHEN T HE LD CIT(A) HAS SUSTAINED THE ADDITION ON THE GROUND THAT THE GENU INITY OF THE TRANSACTION WAS NOT PROVED BY THE APPELLANT. THUS, WE SET ASIDE THE IMPUGNED ORDERS OF THE AUTHORITIES BELOW ON THE ISSUE I NVOLVED IN THE PRESENT APPEAL AND REMIT THE MATTER BACK TO THE FILE OF THE ASSESSING PAGE 10 OF 11 ITA NO3076./DEL/10 OFFICER WITH THE DIRECTION THAT A FRESH ORDER BE PASSE D AS PER LAW AFTER GIVING THE ASSESSEE ADEQUATE OPPORTUNITY OF BEING HEARD . 10. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS AL LOWED IN PART FOR STATISTICAL PURPOSES. 11. ORDER PRONOUNCED IN THE OPEN COURT ON THE DAY 2 9TH OF APRIL, 2011. SD/- SD/- (R.P. TOLANI) (B.K. HAL DAR) JUDICIAL MEMBER ACCOUNTANT MEMBER DT. 29.4.2011. HMS COPY FORWARDED TO:- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT (A)-, NEW DELHI. 5. THE DR, ITAT, LOKNAYAK BHAWAN, KHAN MARKET, NEW DEL HI. TRUE COPY. BY ORDER (ITAT, NEW DELHI). DATE OF HEARING 25/4/2011 DATE OF DICTATION 25/4/2011 DATE OF ORDER SIGNED BY THE HON'BLE MEMBER. 29.4.2011 DATE OF ORDER SENT TO THE CONCERNED BENCH 29.4.2011 PAGE 11 OF 11 ITA NO3076./DEL/10