M/s. Dashant Sales, New Delhi V. DCIT, New Delhi

ITA 3140/DEL/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 2906 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-05-2017
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Next Hearing Date: 24-05-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 21-05-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Business income; Additional evidence; Reasonable cause
• Section: 143(3); 142(1); 144

Judgement Text

ITA NO. 3140 /DEL./201 4 ASSESSMENT Y EAR: 2010 - 11 PAGE 1 OF 10 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH B BENCH NEW DELHI) BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA NO. 3140 /DEL./2014 ASSESSMENT YEAR S : 20 10 - 1 1 DASHANT SALES 37, GAFFAR MARKET, KAROL BAGH, NEW DELHI VS. DCIT CENTRAL CIRCLE - 25, NEW DELHI (APPLICANT) (RESPONDENT) (PAN: AA AFD7113K ) ASSESSEE BY: SHRI VINOD BINDAL, CA REVENUE BY: SHRI ANIL KUMAR SHARMA, SR. DR DATE OF HEARING 2 4 /0 5 /2017 DATE OF PRONOUNCEMENT 2 9 /0 5 /2017 ORDER PER AMIT SHUKLA, JUDICIAL MEMBER : TH E AFORESAID APPEAL HA S BEEN FILED BY THE ASSESSEE AGAINST IMPUGNED ORDER DATED 10 . 0 3 .201 4 , PASSED BY LD. CIT (A PPEALS ) NEW DELHI , FOR THE QUANTUM OF ASSESSMENT PASSED U/S 14 4 FOR THE A.Y. 20 10 - 1 1 . THE ASSESSEE IN ITS GROUNDS OF APPEAL HAS RAISED FOLLOWING GROUNDS WHICH READS AS UNDER: - 1. THE CIT (APPEALS) ERRED IN LAW AND ON FACTS IN CONFIRMING AN ADDITION OF RS. 12,98,019/ - A) BY ALLOWING ONLY THE EMPLOYEE AND SELLING EXPENSES @ 3% OF THE TURNOVER AS DEDUCTION AND PAGE 2 OF 10 B) BY ESTIMATING THE NET PROFIT @ 10.75% OF THE TURNOVER AS AGAINST 7% ESTIMATED BY THE AO THOUGH CONSIDERING THE SAME TO BE ON HIGHER SIDE BY HOLDI NG THAT THE APPELLANT MUST SUFFER FOR ALL THE INFRACTIONS IGNORING THE REASON EXPLAINED FOR SUCH INFRACTION, THE FACTS OF THE CASE AND THE NET PROFIT RATIO OF THE EARLIER YEARS. THUS THE ADDITION SO MADE WITHOUT ANY ENHANCEMENT NOTICE SHOULD BE DELETED. 2. WITHOUT PREJUDICE TO THE ABOVE GROUND, IF THE PROFIT OF BUSINESS IS TO BE ESTIMATED, IT SHOULD BE ESTIMATED ON THE BASIS OF NET PROFIT DECLARED AND ASSESSED IN THE PRECEDING YEARS INSTEAD OF COMPUTING THE SAME ON SURMISES AND CONJECTURES. NECESSARY DIRECT IONS IN THIS REGARD MAY BE ISSUED . 3. THE APPELLANT CRAVES THE LEAVE TO ADD, SUBSTITUTE, MODIFY, DELETE OR AMEND ALL OR ANY GROUND OF APPEAL EITHER BEFORE OR AT THE TIME OF HEARING . 2. THE BRIEF FACTS OF THE CASE QUA THE AFORESAID ISSUE OF ADDITION OF PROFIT RATE ARE THAT , THE ASSESSEE IS A PARTNERSHIP FIRM , ENGAGED IN THE BUSINESS OF DISTRIBUTION OF THE PRODUCTION OF MDH SPICES AND D HOOP BATTI , ETC. AND IS ONE OF DISTRIBUTOR OF DHARAM LEELA SALES CORPORATION . THE ENTIRE PURCHASES HAVE BEEN MADE FROM THIS PARTY. THE ASSESSEE GETS THE DISCOUNT /COMMISSION OF CERTAIN PERCENTAGES ON SALES UNDER VARIOUS SCHEMES OF DISCOUNT S FLOATED BY THE PRINCIPAL COMPANY . THE LD. ASSESSING OFFICER NOTED THAT THE ASSESSEE LIKE IN THE EARLIER ASSESSMENT YEAR HAS NOT FILED ITS RETURN OF INCOME FOR THE RELEVANT ASSESSMENT YEAR ALSO AND ACCORDINGLY , NOTICE U/S 142(1) DATED 6.2.2014 ALONG WITH THE QUESTIONNAIRE WAS SENT TO THE ASSESSEE. AS NOTE BY HIM IN THE ASSESSMENT ORDER, O N VARIOUS DATES , THE ASSESSEE EITHER DID NOT APPEAR BEFORE THE ASSESSING OFFICER OR MADE ONLY PART COMPLIANCE TO THE VARIOUS DETAILS REQUIRED BY HIM FROM TIME TO TIME . ASSESSING OFFICER FURTHER FOUND THAT THE ASSESSEE IS NEITHER MAINTAINING ANY BOOKS OF AC COUNT NOR ANY DETAILS OF PAGE 3 OF 10 DEBTORS, CREDITORS, OPENING STOCK, CLOSING STOCK OR LOANS , ETC. UNDER THESE FACTS AND CIRCUMSTANCES, HE CAME TO THE CONCLUSION THAT HE HAS NO ALTERNATIVE BUT TO COMPLETE THE ASSESSMENT ON THE BASIS OF MATERIAL ON RECORD UNDER BEST JUDGMENT ASSESSMENT U/S 144 . FIRST OF ALL , AO HELD THAT THE ASSESSEE BEING A PARTNERSHIP FIRM IS REQUIRED TO MAINTAIN PROPER BOOKS OF ACCOUNT AND ALSO DEFINE AND DETERMINE THE SHARE OF PROFITS. IN A BSENCE OF SUCH A MANDATORY REQUIREMENT AS CONTAINED IN SECTION 184(5) , AO HELD THAT NO DEDUCTION ON ACCOUNT OF PAYMENT OF INTEREST, SALARY , BONUS , ETC . PAID CAN BE ALLOWED OUT OF THE INCOME ASSESSED IN THE HANDS OF THE FIRM. HE THUS, PROCEEDED TO ESTIMATE THE ASSESSEE S BUSINESS INCOME AFTER OBSERVING AND HOLD ING AS UNDER: - LAST ASSESSMENT YEAR, THE ASSESSEE HAD STATED THE TOTAL SALES AT RS.2,01,07,479/ - DURING THE PERIOD FROM 1.4.2009 TO 31.03.2010 RELEVANT TO ASST, YEAR UNDER CONSIDERATION THE ASSESSEE CLAIMS THE TOTAL SALES AT RS.120,76,727/ - AS AGAINST T HE PURCHASES OF 1,02,43,702/ - GIVING A G.P. RATE OF 17.89%. THE DECLINE IN TOTAL SALES FROM 201,07,479/ - TO A MERE RS. 120,76,727/ - IS NEITHER BELIEVABLE OR ACCEPTABLE THE VAT RETURN SHOWING SALES OF RS.1,20,76,727/ - IS NOT A CONCLUSIVE PROOF AS THE SALES ARE NOT RECORDED IN THE PROPER BOOKS OF ACCOUNT, THE ASSESSEE S SUBMISSION IS NOT REPORTED TO EVEN VAT DEPARTMENT. WHAT IS MORE, DURING THE PERIOD UNDER CONSIDERATION A SUM OF RS.2,00,000/ - HAS BEEN DEBITED TO DASHAANT SALES ACCOUNT (AS APPEARING IN THE BO OKS OF ACCOUNT OF M/S DHARAM LEELA SALES CORPORATION) AS ON 30.04.200& WITH A NARRATION AS 'BEING TEMPO PURCHASED IN DASHAANT . IT INDICATES THAT THE BUSINESS OF DASHAANT SALES HAD BEEN ON THE RISE AS COMPARED TO THE LAST YEAR. THE ASSESSEE HAD FELT THE NE ED FOR A NEW TEMPO TO SUPPLY THE GOODS. IN THE ABSENCE OF BOOKS OF ACCOUNT, PURCHASE, SALE PARTY LEDGER AND VOUCHERS, THE SALES ARE NOT VERIFIABLE AND HENCE THE TOTAL SALES THIS YEAR ARE ESTIMATED AT RS.220,00,000/ - , A 10% INCREASE OVER THE LAST YEAR S. PAGE 4 OF 10 A S REGARDS THE APPLICABLE NET PROFIT RATE, LAST YEAR THE ASSESSEE PRODUCED DOCUMENTS SHOWING A TRADE DISCOUNT MARGIN OF 5% WHEN THE A.O. APPLIED A NET PROFIT RATE OF 2.46% TO THE TOTAL SALES. DURING THE PREVIOUS YEAR, RELEVANT TO ASSESSMENT YEAR UNDER CONSI DERATION , THE ASSESSEE THROUGH ITS COUNSEL HAS SUBMITTED A COPY OF BILL OF DHARAM LEELA SALES COPR. DRAWN IN FAVOUR OF M/S DASHAANT SALES(INVOICE NO.M0078) DATED 25/05/2009 WHICH STATES THE FOLLOWING DISCOUNTS TO THE DEALER: BIRTHDAY SCHEME @ 4.75% TRADE DISCOUNT @ 6.00% CASH DISCOUNT @ 2.00% THUS A TOTAL OF GROSS DISCOUNT/COMMISSION OF 12 . 75% IS GIVEN TO THE DISTRIBUTOR. SINCE ASSESSEE IS NOT INCURRING ANY EXPENDITURE ON MAINTENANCE OF BOOKS OF ACCOUNT & VOUCHERS IT WOULD BE VERY REASONABLE TO A SSESS NET PROFIT @ 7% RESULTING INTO TAXABLE INCOME OF RS. 15,40,000/ - . 3. BEFORE THE LD. CIT (A), THE ASSESSEE SUBMITTED THAT THERE WERE ONLY TWO PARTNERS IN THE FIRM , SH RI DHARAMPAL GULATI ; AND SMT. MEENAKSHI MOHAN ( M ANAGING P ARTNER) . S INCE THE HUSBAND OF MANAGING PARTNER (SMT. MEENAKSHI MOHAN) WAS TERMINALLY ILL FOR THE CONSIDERABLE PERIOD OF TIME , AND HAD DIED DURING THE PENDENCY OF ASSESSMENT PROCEEDINGS, THEREFORE , PROPER COMPLIANCE BEFORE THE LD. ASSESSING OFFICER COULD NOT BE MADE IN THAT PERIOD. ACCORDINGLY , THE ASSESSEE REQUESTED FOR ADMISSION OF CERTAIN ADDITIONAL EVIDENCES UNDER RULE 46A. T HE LD. CIT (A) LOOKING TO THE FACT THAT THERE WAS A REASONABLE CAUSE FOR IMPROPER COMPLIANCE , THEREFORE , HE ADMITTED THAT THE ADDITIONAL EVID ENCES FILED BY THE ASSESSEE AND CALLED FOR REMAND REPORT FROM THE ASSESSING OFFICER . THE MAIN CONTENTION OF THE ASSESSEE BEFORE THE AO IN REMAND PROCEEDINGS AS WELL AS BEFORE LD. CIT(A) WAS THAT , THE ASSESSEE FIRM COULD NOT PRODUCE THE BOOKS OF PAGE 5 OF 10 ACCOUNT OR COULD NOT G E T IT AUDITED FOR THE REASON THAT , THE MANAGING PARTNER S HUSBAND WAS SUFFERING FROM HEART PROBLEM WHO HAD LATER ON DIED ON 3.10.2012 . THAT APART, I N RESPONSE TO THE NOTICES ISSUED TO THE ASSESSING OFFICER THE ASSESSEE HAD SUBMITTED FOLLOWING DO CUMENTS: - 1. SALES TAX/VAT RETURN DECLARING TURNOVER OF RS. 1,20,76,727/ - 2. COPY OF PURCHASE ACCOUNT WITH DHARAM LEELA SALES GROUP. 3. COPY OF SALE PURCHASE AND VAT PAID SUMMARY 4. COPY OF ONE PURCHASE BILL FROM M/S. DHARAMLEELA SALES CORP. 5. COPY OF TWO PURCHASE BILL OF SIMILAR DISTRIBUTOR OF MDH PRODUCTS (M/S. SADHDEVA ENTERPRISES). IT WAS SUBMITTED THAT, D ESPITE ALL THESE EVIDENCES THE ASSESSING OFFICER HAS ESTIMATED THE TURNOVER AT RS. 2,20,00,000/ - AND NOT ONLY THAT , IT WAS POIN TED OUT THAT THE G.P. RATE OF 6% AND NP RATE OF 2.46% WAS ASSESSED IN THE PREVIOUS YEAR UNDER SIMILAR CIRCUMSTANCES WHEN THERE WAS SAME ALLEGATION OF NON MAINTENANCE OF BOOKS OF ACCOUNTS. INSTEAD OF GOING BY THE PRECEDEN CE OF THE EARLIER, THE ASSESSING OFF ICER HAS ESTIMATED THE G.P. RATE OF 12.75% AND NET PROFIT RATE OF 7% OF RS. 2,20,00,000/ - RESULTING INTO ADDITION OF RS. 15,40,000/ - . 4. IN THE REMAND REPORT THE ASSESSING OFFICER S SUBMISSION IN THIS REGARD HAS BEEN AS UNDER: - ILLEGAL ADDITION OF RS. 15.40.000.00 AS BUSINESS INCOME THE ADDITION WAS MADE IN TWO ACCOUNTS: - 1) BY INCREASE OF THE TURNOVER TO RS.2,20,00,000.00 FROM 1,20,76,727.00 PAGE 6 OF 10 2) BY INCREASE OF THE GP FROM 6% TO 12.75% AND NP FROM 2.46 TO 7%. IN SUPPORT OF THE TURNOVER, THE ASSE SSEE HAS FURNISHED SALE TAX ASSESSMENT ORDER, SALE AND VAT RETURN, COPY OF PURCHASE ACCOUNT IN DHARAM LEELA SALES CORPORATION, COPY OF PURCHASE BILL ETC. AFTER VERIFICATION OF THE DOCUMENTS NO ADVERSE INFERENCE IS DRAWN ON THE ISSUE OF TURNOVER . IN REGA RD TO GP AND NP, THE ASSESSEE HAS EXPLAINED 'THAT BIRTHDAY DISCOUNT IS GIVEN NEAR THE BIRTHDAY OF MR. DHARAM PAL GULATI, THE CHAIRMAN OFMDH AND NOT THROUGHOUT THE YEAR. FURTHER, THIS IS PASSED ON THE CUSTOMER AS PER THE TRADE PRACTICE. THIS DISCOUNT IS NOT GIVEN ON ALL THE PRODUCTS BUT VERY LIMITED PRODUCTS OFMDH. IN THIS REGARD, THE RELEVANT SCHEME IS BEING ENCLOSED ON PAGE NO. 40A OF THE PAPER BOOK. AS FAR AS THE CASH DISCOUNT IS CONCERNED, IT IS ALSO PASSED ON TO THE CUSTOMER FOR REALIZATION OF MONEY FRO M HIM. THIS IS ALSO NOT CASE THAT IN EVERY CASE, CASH DISCOUNT IS GIVEN @4%. THIS DEPENDS UPON THE CASE TO CASE DEPENDING UPON EARLY PAYMENT'. THE REPLY OF THE ASSESSEE HAS BEEN DULY CONSIDERED. THAT THE TURNOVER MAY BE ACCEPTED AS PER THE SALE TAX ORDER B UT THE RATIO OF NET PROFIT MAY BE KEPT AT THE RATE OF 1% OF THE TURNOVER CONSIDERING OVER ALL CIRCUMSTANCES OF THE CASE. 5. THE LD. CIT(A) HAS REDUCED THE ASSESSED INCOME AT RS. 13,98,019/ - IN THE FOLLOWING MANNER: - AS PER THE DETAILS AVAILABLE, THE SALES AMOUNT TO RS. 1,20,76,727/ - AND THE PURCHASES AMOUNT TO RS.1,03,82,412/ - . VAT PAID IS RS.33,994/ - . NO OTHER DETAILS ARE AVAILABLE. ACCORDINGLY, EMPLOYEES AND SELLING EXPENSES ARE TAKEN AT 3 F. OF THE TURNOVER AT RS.3,62,302/ - . THE TOTAL EXPENSES COME TO RS.3.90,296/ - , AND THE BALANCE EXPENSES ARE TREATED US PARTNER S REMUNERATION AND DRAWINGS AND ARE DISALLOWED U/S 184(5). AS PER THIS VIEW, THE PROFIT CHARGEABLE TO TAX COMES TO RS. 12,98,019/ - , WHICH IS 10.75% OF THE SALES TURNOVER. I AM AWARE THAT THE AMOUNT IS ON THE HIGHER SIDE, AND EVEN HIGHER THAN THE GP / N P MARGINS DECLARED AND ACCEPTED IN EARLIER YEARS. BUT, THE APPELLANT HAS FAILED TO FILE THE RETURN, FAILED TO PAY DU E TAXES, FAILED TO MAINTAIN BOOKS PAGE 7 OF 10 OF ACCOUNT, AND FAILED TO GET ITS ACCOUNT AUDITED, FOR ALL THESE INFRACTIONS, THE APPELLANT MUST SUFFER. THE APPELLANT HAS ALSO FAILED TO FILE PARTICULARS TO SUPPORT ITS CLAIM OF GROSS PROFIT & NP RATIOS AND EVIDENCES TO SUPPORT I T S CLAIM O F EXPENSES, THEREF ORE THESE RATES ARE NOT TO BE ACCEPTED. RES JUDICATA IS NOT APPLICABLE TO THESE PROCEEDINGS. I LIE INCOME OF THE APPELLANT CHARGEABLE UNDER THE HEAD PROFITS OR GAINS FROM BUSINESS OR PROFESSION IS HELD TO BE RS. 12,98,019/ - , THE AO IS DIRECTED TO CHARGE TH IS AMOUNT TO TAX. THIS GROUND OF APPEAL IS DISPOSED OF IN THESE TERMS. 6. F ROM THE ABOVE IT CAN BE SEEN THAT THE LD. CIT (A) HAS THOUGH ALLOWED SELLING EXPENSES AT 3% OF THE TOTAL TURNOVER OF RS. 1,20,76,377/ - BUT APPLIED HIGHER NET PROFIT RATE OF 10.7 5% OF THE SALES/TURNOVER . THUS, THE NET PROFIT FATE WAS ENHANCED FROM 7% TO 10.75%. 7. BEFORE US, THE LD. COUNSEL OF THE ASSESSEE , SHRI B INOD KUMAR BINDAL, AFTER EXPLAINING THE ENTIRE FACT S OF THE CASE SUBMITTED THAT , NOW THE ISSUE WHICH IS MAINLY INVOLVED IS HOW MUCH SHOULD BE THE ESTIMATE OF NET PROFIT RATE. HE SUBMITTED THAT THE ASSESSEE IS MAINLY RECEIVING COMMISSION AND DISCOUNT LIKE BIRTHDAY DISCOUNT WHICH IS GIVEN AT THE TIME BIRTHDAY OF MR. DHARAM PAL GULATI , CHAIRMAN OF MDH ; VARIOUS TRAD E DISCOUNT S AND CASH DISCOUNT S . SO FAR AS THE BIRTHDAY DISCOUNT IS CONCERNED THE SAME IS TO BE PASSED OVER TO THE CUSTOMER AS A MATTER OF TRADE PRACTICE AND IT IS NOT GIVEN ON ALL THE PRODUCTS. THE REFORE , THE NET PROFIT RATE AS ASSESSED BY THE ASSESSING OF FICER AS WELL AS BY THE LD. CIT IS FAR TOO HIGH. HE FURTHER SUBMITTED THAT IN THE IMMEDIATELY PRECEDING ASSESSMENT YEAR , G.P. RATE OF 6% AND N .P. RATE OF 2.46% HAS BEEN ASSESSED . THEREFORE , IN LIGHT OF PAST PRECEDENCE THE NET PROFIT RATE SHOULD BE TAKEN AT 2.46%. SO FAR AS PAGE 8 OF 10 THE ESTIMATION OF SELLING EXPENSES ARE CONCERNED TAKEN AT 3% OF THE TURNOVER , THE SAME IS NOT BEING CHALLENGED BY THE ASSESSEE. 8. ON THE OTHER HAND THE LD. DR STRONGLY RELIED UPON THE ORDER OF THE LD . CIT AND SUBMITTED THAT , WHEN THE ASSESSEE HAS FAILED TO GETS THE ACCOUNT S AUDITED AND NO PROPER BOOKS OF ACCOUNTS HAS BEEN MAINTAINED , THEREFORE , THE ESTIMATE MADE BY THE LD. CIT (A) AT 10.75% OF THE TURNOVER IS QUITE JUSTIFIED. 9. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUS ED THE RELEVANT FINDING GIVEN IN THE IMPUGNED ORDER. HERE IN THIS CASE , IT IS NOT DISPUTED THAT THE BEST JUDGMENT ASSESSMENT U/S 144 IS JUSTIFIED IN LAW AND ON FACTS DUE TO NOT MAINTENANCE OF BOOKS OF ACCOUNTS AND FAILING TO GETS THE ACCOUNT AUDITED. THE T URNOVER OF THE ASSESSEE AS PER THE SALES TAX RETURN HAS BEEN ACCEPTED TO BE AT RS. 1,20,76,727/ - BY THE CIT(A) AND ALSO BY THE AO IN HIS REMAND REPORT, INSTEAD OF RS. 2.20 CRORES AS ESTIMATED BY THE ASSESSING OFFICER IN HIS ASSESSMENT ORDER. FURTHER T HE ASSESSING OFFICER IN THE HIS REMAND REPORT HAS SUGGESTED THAT NET PROFIT RATE SHOULD BE KEPT A T 7% , WHEREAS THE LD. CIT HAS ENHANCED IT AT 10.75% WHICH HAS BEEN WORKED OUT IN THE FOLLOWING MANNER: - SALES AMOUNTS IN RUPEES LESS PURCHASES 1,20,76,727/ - LESS EXPENSES 1,03,82,412/ - A ) 3% OF TURNOVER 3,62,302/ - B ) VAT PAID 33,334/ - TOTAL 12,98,019/ - [ADDITION FINALLY SUSTAINED BY LD. CIT(A)] PAGE 9 OF 10 BEFORE US, THE LD. COUNSEL HAD BROUGHT ON RECORD THAT IN THE EARLIER YEAR, THE NET PROFIT RATE OF 2.46% WAS APPLIED IN SCRUTINY PROCEEDINGS IN SECTION 143(3) IN THE A.Y. 2009 - 10 ON A TURNOVER OF RS. 2.01 CRORE. APART FROM THAT , THE LD. COUNSEL HAS ALSO POINTED OUT THAT SOME OF DISCOUNTS AVAILABLE FROM THE DISTRIBUTOR IS PASSED ON TO THE CUSTOMERS AND THEREFORE, THE ASSESSEE S PROFIT MARGIN GETS FURTHER REDUCED. LOOKING TO THE FACT THAT IT IS A CASE OF BEST JUDGMENT ASSESSMENT ; OTHER ATTENDED CIRCUMSTANCES; MATERIALS AVAILABLE ON RECORD; AND ALSO ASSESSEE S PAST HISTORY , WE ARE OF THE OPINION THAT IT WO ULD BE FAIR TO APPLY A NET PROFIT OF 3% OF THE TOTAL SALES OF RS. 1,20,76,727/ - . SUCH AN ESTIMATE OF AN INCOME WOULD BE REASONABLE TAKING INTO CONSIDERATION THE PAST HISTORY WHEREIN THE NET PROFIT RATE HAS BEEN ESTIMATED 2.46%. AO IS THUS DIRECTED TO ASSESS THE INCOME ACCORDINGLY. 1 0 . I N THE RESULT, THE APPEAL OF THE ASSESSEE IS PARTLY ALLOWED. ORDER P RONOUNCED IN THE OPEN COURT ON 29 . 0 5 .201 7. S D / - S D / - ( PRASHANT MAHARSHI) (AMIT SHUKLA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 29 . 0 5 .2017 NARENDER COPY FORWARDED TO: 1) APPELLANT 2) RESPONDENT PAGE 10 OF 10 3) CIT 4) CIT (APPEALS) 5) DR: ITAT ASSISTANT REGISTRAR DATE DRAFT DICTATED ON 2 3 .0 5 .2017 DRAFT PLACED BEFORE AUTHOR 2 4 .0 5 .2017 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. APPROVED DRAFT COMES TO THE SR.PS/PS 2 9 . 5 .2017 KEPT FOR PRONOUNCEMENT ON FILE SENT TO THE BENCH CLERK 2 9 . 5 .2017 DATE ON WHICH FILE GOES TO THE AR DATE ON WHICH FILE GOES TO THE HEAD CLERK. DATE OF DISPATCH OF ORDER.