The ACIT, Central Circle-2, Baroda V. Shri Pramod A. Amlani, Baroda

ITA 3340/AHD/2007

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 9152 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 3 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-12-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 02-12-2010
• Assessment Year: 2001-2002
• Appeal Filed On: 03-08-2007
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRAVEEN VARMADR
• Assessee Lawyers: S N SOPARKAR
• Keywords: Unexplained investment; Loose papers; Principle of natural justice; Bogus loan; Set aside
• Section: 132

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH 'D' BEFORE SHRI T K SHARMA,JM & SHRI A N PAHUJA,AM ITA NOS.3340, 3341, 3342 & 3345/AHD/2007 (ASSESSMENT YEAR:-2001-02, 2002-03, 2003-04 & 2004- 05) ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE- 2, BARODA V/S SHRI PRAMODKUMAR A AMLANI, C/7-8, ANURAG SOCIETY, AKOTA, BARODA PAN: ACDPA 3109 K [APPELLANT] [RESPONDENT] ITA NO.3344/AHD/2007 (ASSESSMENT YEAR:-2003-04) ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE- 2, BARODA V/S SHRI DHIRAJLAL A AMLANI, SNEHDHARA NEAR ASHIRWAD SOCIETY, AKOTA, BARODA PAN: ABOPA 4405 C [APPELLANT] [RESPONDENT] REVENUE BY :- SHRI PRAVEEN VARMA,DR ASSESSEE BY:- SHRI S N SOPARKAR, AR O R D E R A N PAHUJA: THESE FIVE APPEALS BY THE REVENUE DIRECTED AGAIN ST FIVE SEPARATE ORDERS-FOUR DATED 21 ST MARCH, 2007 IN THE CASE OF SHRI PRAMODKUMAR A AMLANI AND ANOTHER DATED 15 TH MARCH, 2007 IN THE CASE OF SHRI DHIRAJLAL A AMLANI, OF THE LD. CIT(AP PEALS)-IV, AHMEDABAD, RAISE THE FOLLOWING GROUNDS:- ITA NOS.3340/AHD/2007[AY 2001-02] 1. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF TH E CASE IN DELETING THE ADDITION OF RS.5,40,000/- ON ACCOUNT OF UNACCOU NTED INVESTMENT IN FDR IN UMA CO-OPERATIVE BANK. 2. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.3,05,000/- ON ACCOUNT OF UNACCOU NTED INVESTMENT IN FDR IN PATNI CO-OPERATIVE BANK, 3. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.5,03,000/- ON ACCOUNT OF UNDISCL OSED INVESTMENT MADE ALONG WITH HIS BROTHER. ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 2 4. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.40,000/- ON ACCOUNT OF UNACCOUNT ED LOAN TO MEMBERS. 5. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.2,56,000/- ON ACCOUNT OF UNACCOU NTED ADVANCES BY WAY OF CHEQUE DISCOUNTING. 6. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE ID CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESSING OFF ICER ON THE ABOVE POINTS, 7. IT IS, THEREFORE, PRAYED THAT THE ORDER OF THE I D. CIT(A) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED TO THE ABOVE EXTENT. ITA NOS.3341/AHD/2007[AY 2002-03] 1. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF TH E CASE IN DELETING THE ADDITION OF RS.15,03,000/- ON ACCOUNT OF UNDISC LOSED INVESTMENT IN CROSS ROAD SHOP. 2. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.5,94,645/- ON ACCOUNT OF UNACCOU NTED BAN TO MEMBERS. 3. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE EASE IN DELETING THE ADDITION OF RS.1,59,000/- ON ACCOUNT OF UNACCOU NTED ADVANCES BY WAY OF CHEQUE DISCOUNTING. 4. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE ASSESSING OFF ICER ON THE ABOVE POINTS. 5. IT IS, THEREFORE, PRAYED THAT THE ORDER OF THE I D, CIT(A) MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED TO THE ABOVE EXTENT. ITA NOS.3342/AHD/2007[AY 2003-04] 1. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF TH E CASE IN DELETING THE ADDITION OF RS.15,47,000/- ON ACCOUNT OF UNACCO UNTED LOANS TO MEMBERS. ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 3 2. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.2,85,000/- ON ACCOUNT OF UNACCOU NTED ADVANCES BY WAY OF CHEQUE DISCOUNTING. 3. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE AO ON THE ABO VE POINTS. 4. IT IS, THEREFORE PRAYED THAT THE ORDER OF THE LD . CIT(A) MAY BE SET ASIDE AND THAT OF THE AO BE RESTORED TO THE ABOVE E XTENT. ITA NOS.3345/AHD/2007[AY 2004-05] 1. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.10,76,700/- ON ACCOUNT OF UNACCO UNTED LOANS TO MEMBERS. 2. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.2,97,000/- ON ACCOUNT OF UNACCOU NTED ADVANCES BY WAY OF CHEQUE DISCOUNTING. 3. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.5,00,000/- ON ACCOUNT OF UNDISCL OSED LOAN / ADVANCES. 4. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE AO ON THE ABO VE POINTS. 5. IT IS, THEREFORE PRAYED THAT THE ORDER OF THE LD . CIT(A) MAY BE SET ASIDE AND THAT OF THE AO BE RESTORED TO THE ABOVE E XTENT. ITA NOS.3344/AHD/2007[AY 2003-04] 1. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CAS E IN DELETING THE ADDITION OF RS.2,00,000/- ON ACCOUNT OF UNDISCL OSED INVESTMENT IN PROMISSORY NOTE. 2. THE LEARNED CIT(A) ERRED IN LAW AND ON FACTS OF THE CASE IN DELETING THE ADDITION OF RS.6,44,160/- ON ACCOUNT OF UNDISCL OSED INVESTMENT IN CROSS ROAD BUILDING. 3. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E, THE LD. CIT(A) OUGHT TO HAVE UPHELD THE ORDER OF THE AO ON THE ABO VE POINTS. ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 4 4. IT IS, THEREFORE PRAYED THAT THE ORDER OF THE LD . CIT(A) MAY BE SET ASIDE AND THAT OF THE AO BE RESTORED TO THE ABOVE E XTENT. 2. SUBSEQUENTLY, THE REVENUE RAISED COMMON ADDITIO NAL GROUNDS IN THE AFORESAID THREE APPEALS IN ITA NOS.3340, 33 41, 3342/AHD/2007 FOR AYS 2001-02 TO 2003-04, WHICH REA D AS UNDER:- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E AND IN LAW, THE LD. CIT(A) ERRED IN GIVING RELIEF TO THE ASSESSEE ON TH E BASIS OF THE SAID CASH FLOW-STATEMENT SUBMITTED BY THE ASSESSEE. THE ASSE SSEE HAD SUBMITTED THE CASH FLOW-STATEMENT BEFORE THE ASSESSING OFFI CER AT THE FAG END OF FINALIZING THE ASSESSMENT, AND HENCE, ITS CORRECTNE SS COULD NOT BE EXAMINED WHILE PASSING THE ASSESSMENT ORDER. THEREF ORE, THE LD. CIT(A) OUGHT TO HAVE CALLED FOR THE COMMENTS / REMAND REPO RT FROM THE ASSESSING OFFICER ON THE CASH FLOW-STATEMENT SUBMITTED BEFO RE HIM. AS SUCH THE ASSESSEE HAD FILED RETURNS VERY LATE BY 267 DAYS. 2. THE APPELLANT CRAVES LEAVE TO ADD TO AMEND OR AL TER THE ABOVE GROUNDS AS MAY BE DEEMED NECESSARY. RELIEF CLAIMED IN APPEAL THE ORDER OF THE CIT(A) ON THE ABOVE ISSUE MAY BE SET ASIDE AND THAT OF THE AO BE RESTORED OR IN THE ALTERNATIVE THE ASSESS MENTS MAY BE REMANDED BACK TO THE AO TO EXAMINE THE CORRECTNESS OF THE ASSESSEES CLAIMS. 3 THE LD. AR ON BEHALF OF THE ASSESSEE APPEAR ING BEFORE US DID NOT RAISE ANY OBJECTION TO THE ADMISSION OF AFORESA ID ADDITIONAL GROUNDS. SINCE THE RELEVANT CASH FLOW STATEMENT MEN TIONED IN THE ADDITIONAL GROUNDS FORMS THE BASIS FOR THE FINDINGS OF THE LD. CIT(A) IN THESE FIVE APPEALS, WE ADMIT THESE ADDITIONAL G ROUNDS. 4. ADVERTING NOW TO THE FACTS, IN BRIEF, AS PE R RELEVANT ORDERS IN THE CASE OF SHRI PRAMODKUMAR A AMLANI FOR THE AY 20 01-02 THAT A SEARCH ACTION U/S 132 OF THE INCOME-TAX ACT, 1961 [ HEREINAFTER REFERRED TO AS THE ACT] WAS CONDUCTED IN THE RESI DENTIAL AND BUSINESS PREMISES OF UNION PETROCHEM GROUP OF CASES ON 30-1- 2004,WHEN CERTAIN LOOSE PAPERS AND DOCUMENTS BELONG ING TO THESE ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 5 TWO ASSESSEES WERE SEIZED . THE ASSESSEE SHRI PRAMO DKUMAR A AMLANI IS PROPRIETOR OF M/S VISHAL TRADERS, ONE OF THE GROUP CONCERN, CARRYING ON THE BUSINESS OF CHEQUE DISCOUN TING AND SHROFF BUSINESS. CONSEQUENT TO THE SEARCH, A NOTICE U/S 15 3A(A) OF THE ACT WAS ISSUED ON 22-12-2004, REQUIRING THE ASSESSEE TO FILE RETURN OF INCOME FOR THE YEARS UNDER CONSIDERATION WITHIN 40 DAYS OF RECEIPT OF THE NOTICE. IN RESPONSE, THE ASSESSEE FILED RETU RN DECLARING INCOME OF RS.1,45,045/- ON 02/02/2006 I.E AFTER A D ELAY OF 367 DAYS FOR THE AY 2001-02. THE ORIGINAL RETURN FILED ON 30/07/2001 REFLECTED INCOME OF RS.87,979/-.AS A RESULT OF DOCU MENTS SEIZED DURING THE SEARCH, THE ASSESSEE ADMITTED UNDISCLOS ED INCOME/INVESTMENT AMOUNTING TO RS.98.08 LACS ON AC COUNT OF FDRS IN THE NAMES OF VARIOUS FAMILY MEMBERS, IMMOVABLE P ROPERTIES, LOANS/ ADVANCES ETC. THE RELEVANT DETAILS OF THE S AID AMOUNT MENTIONED IN THE STATEMENT DATED 28.2.2004 OF THE A SSESSEE, EXTRACTED FROM THE ASSESSMENT ORDER, REVEAL AS UNDE R: UNACCOUNTED FDRS IN UMA CO-OPERATIVE BANK RS. 5.4 0 LACS UNACCOUNTED FDRS IN PATNI CO-OPERATIVE BANK RS. 3 .95 LACS UNDISCLOSED INVESTMENT IN THE CROSS ROAD SHOP RS. 1 5.03 LACS UNDISCLOSED INVESTMENT MADE ALONG WITH BROTHERS RS. 5.03 LACS UNACCOUNTED LOAN TO MEMBERS AS PER ANN A-L/17 RS. 32.60 LACS UNACCOUNTED DISCLOSED ADVANCES BY WAY OF CHEQUE DISCOUNTING AS PER ANN A- 1/2 8 RS. 31.07 LACS UNACCOUNTED LOAN/ADVANCES AS PER ANN A-L/27 RS. 5.0 0 LACS TOTAL RS. 98.08 LACS 4.1 THE AO NOTICED THAT OUT OF THE AFORESAID UNAC COUNTED INVESTMENTS ADMITTED BY THE ASSESSEE, THE FOLLOWING AMOUNT RELATED TO THE AY 2001-02: ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 6 UNACCOUNTED FDRS IN UMA CO-OPERATIVE BANK RS. 5,4 0,000 UNACCOUNTED FDRS IN PATNI CO-OPERATIVE BANK RS. 3 ,05,000 UNDISCLOSED INVESTMENT MADE ALONG WITH BROTHERS RS. 5,03,000 UNACCOUNTED LOAN TO MEMBERS AS PER ANN A-L/17 RS. 40,000 UNACCOUNTED DISCLOSED ADVANCES BY WAY OF CHEQUE DISCOUNTING AS PER ANN A-L/28 RS. 2,56,000 TOTAL RS. 16,44,000 4.2 IN RESPONSE TO VARIOUS NOTICES ISSUED BY TH E AO, THE ASSESSEE FILED HIS SUBMISSION DATED 24/03/2006, W HEREIN WHILE REFERRING TO HIS STATEMENTS DATED 28.2.2004 & 2.3.2 004, IT WAS SUBMITTED THAT THE AFORESAID INVESTMENTS WERE MADE OUT THE AMOUNT RECEIVED FROM THE MEMBERS TOWARDS THE SCHEME RECEIP TS AND THAT THE AMOUNT OF INVESTMENT OF RS. 98.08 LACS WAS OUT OF THE UNEXPLAINED SOURCES AND ACCORDINGLY, THE ASSESSEE O FFERED TO PAY TAX THEREON. IT WAS POINTED OUT THAT SINCE MOST OF THE MEMBERS HAD ALSO CONTRIBUTED OUT OF UNDISCLOSED SOURCES, NONE W AS FORTHCOMING TO GIVE THE CONFIRMATION ETC. AND, THEREFORE, IT W AS IMPOSSIBLE TO EITHER PRODUCE THEM IN PERSON OR FURNISH ANY CONFIR MATION FROM THEM. HOWEVER, WHILE REFUNDING THESE AMOUNTS ON THE COMPL ETION OF THE VARIOUS SCHEMES, THE ASSESSEE OBTAINED CONFIRMATIO NS FROM THE INDIVIDUAL MEMBERS. SINCE THE SAID REPLY WAS FILED JUST TWO DAYS BEFORE THE COMPLETION OF ASSESSMENT AND COULD NOT B E VERIFIED, THE AO REJECTED THE CONTENTIONS OF THE ASSESSEE THAT T HE AFORESAID INVESTMENT WAS MADE OUT OF THE FUNDS RECEIVED FROM MEMBERS FOR SCHEMES. SINCE THE AO COULD NOT VERIFY THE CONFIRMA TIONS FILED BY THE ASSESSEE TOWARDS THE FAG END OF THE LIMITATION , ACCORDINGLY, THE AO REJECTED THE EXPLANATION OF THE ASSESSEE AND DE TERMINED TOTAL INCOME OF THE ASSESSEE ON ACCOUNT OF UNACCOUNTED INVESTMENTS IN FDRS, UNACCOUNTED LOANS TO MEMBERS AND UNACCOUNTED ADVANCES ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 7 ETC. TO THE EXTENT OF RS. 17,32,207/- IN THE AY 200 1-02, AS A RESULT OF NET ADDITION OF RS.15,87,162/-. 4.3. LIKE WISE ,INCOME OF RS. 24,04,675/- WAS DET ERMINED IN THE AY 2002-03 DUE TO NET ADDITION OF RS.22,31,645/- , RS. 20,97,520/- IN THE AY 2003-04 DUE TO NET ADDITION OF RS. 14,32,000 AN D RS.41,64,330/- IN THE AY 2004-05 ON ACCOUNT OF NET ADDITION OF RS. 30,98,700/-, IN THE CASE OF SHRI PRAMOD A AMLANI. 4.4 IN THE CASE OF SHRI DHIRAJLAL A AMLANI, BROT HER OF THE ASSESSEE, INCOME OF RS.9,11,500/- WAS DETERMINED IN THE AY200 3-04 AS A RESULT OF ADDITION OF RS.8,44,160/-.. 5. ON APPEAL, THE LD. CIT(A) WHILE RELYING UPON A CASHFLOW STATEMENT STATED TO HAVE BEEN PREPARED BY THESE ASS ESSEES ON THE BASIS OF SEIZED MATERIAL ,DELETED THE ADDITIONS MAD E BY THE AO IN THE AFORESAID ASSESSMENT YEARS, WITHOUT EITHER GIVI NG ANY OPPORTUNITY OF HEARING TO THE AO AND IGNORING THE F ACT THAT THE SAID CASH FLOW STATEMENT WAS SUBMITTED TOWARDS THE FAG E ND OF LIMITATION FOR COMPLETION OF THESE ASSESSMENTS AND IN FACT, J UST TWO DAYS BEFORE THE DATE OF COMPLETION OF ASSESSMENTS. IT MA Y BE POINTED OUT THAT EVEN THE RETURNS IN RESPONSE TO NOTICE U/S 153 A(A) OF THE ACT WERE ALSO FILED MUCH BEYOND THE STIPULATED TIME. 6. THE REVENUE IS NOW IN APPEAL BEFORE US AGAINST THE AFORESAID FINDINGS OF THE LD. CIT(A). THE LD. DR WHILE REFERR ING TO AFORESAID ADDITIONAL GROUNDS RAISED IN THE THREE ASSESSMENT YEARS IN THE CASE OF SHRI PRAMOD A AMLANI CONTENDED THAT THE LD. CI T(A) DELETED THE ADDITIONS MADE BY THE AO ON THE BASIS OF AFORESAID CASH FLOW STATEMENTS, WITHOUT EVEN CONFRONTING THE SAID CASH FLOW STATEMENTS TO THE AO NOR EVEN CARED TO ASCERTAIN THE GENUINENE SS OF RECEIPTS REFLECTED IN THE SAID CASH FLOW STATEMENTS AND IGNO RING THE FACT THAT ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 8 THE ASSESSEE SUBMITTED CONFIRMATIONS FROM CERTAIN P ARTIES ONLY AT THE FAG END OF LIMITATION FOR COMPLETION OF THESE A SSESSMENTS, LEAVING NO TIME FOR THE AO TO VERIFY THE CONFIRMAT IONS NOR THE ASSESSEE CARED TO PRODUCE THE SAID PARTIES, PROVIDI NG CONFIRMATIONS, DESPITE HIS EARLIER ASSURANCE . ACCORDINGLY, HE ARG UED THAT MATTER NEEDS TO BE RESTORED TO THE FILE OF THE LD. CIT(A ) FOR ALLOWING SUFFICIENT OPPORTUNITY TO THE AO IN ORDER TO ASCERT AIN THE GENUINENESS OF RECEIPTS REFLECTED IN THE CASHFLOW S TATEMENTS. THE LD. AR ON BEHALF OF THE ASSESSES DID NOT OPPOSE THESE S UBMISSIONS ON BEHALF OF THE REVENUE. 7. WE HAVE HEARD BOTH THE PARTIES AND GONE THROUGH THE FACTS OF THE CASE. WE FIND THAT DESPITE SUFFICIENT OPPORT UNITY ALLOWED BY THE AO , THESE ASSESSEES, INDISPUTABLY, DID NOT EITHER SUBMI T CONFIRMATIONS FROM THE MEMBERS STATED TO HAVE PARTICIPATED IN THE PRIZE S CHEME, WITHIN THE TIME STIPULATED BY THE AO NOR PRODUCED SUCH MEMBERS BEFO RE HIM IN SUPPORT OF RECEIPTS STATED TO HAVE BEEN REFLECTED IN THE AFORE SAID CASH FLOW STATEMENTS. THE LD. CIT(A) DELETED THE ADDITIONS MADE BY THE AO IN THE ASSESSMENT YEARS BEFORE US, WITHOUT EVEN EITHER AFFORDING ANY OPPORTUNITY OF HEARING TO THE AO AND IGNORING THE FACT THAT THE S AID CASH FLOW STATEMENT WAS SUBMITTED TOWARDS THE FAG END OF LIMI TATION FOR COMPLETION OF ASSESSMENTS AND IN FACT, JUST TWO DAY S BEFORE THE DATE OF COMPLETION OF ASSESSMENTS. THERE IS NO MATERIAL BEFORE US IN ORDER TO ASCERTAIN AS TO WHETHER OR NOT THE SAID CASHFLOW S TATEMENTS OR SUBMISSIONS OF THE ASSESSEE BEFORE THE LD. CIT(A) WERE CONFRONTED TO THE AO OR THE LD. CIT(A) UNDERTOOK ANY INDEPENDENT ENQUIRIES OR EVEN CALLE D FOR ANY REPORT FROM THE AO IN THE LIGHT OF HIS FINDINGS IN THE ASSESSME NT ORDER. THIS APPROACH OF THE LD. CIT(A) IS NOT IN ACCORDANCE WIT H LAW AND ESTABLISHED PRINCIPLES OF NATURAL JUSTICE. IN THESE CIRCUMSTANC ES AND IN THE INTEREST OF NATURAL JUSTICE, ESPECIALLY WHEN THE LD. CIT(A) HAV E NOT ASCERTAINED THE COMPLETE FACTS NOR ALLOWED SUFFICIENT OPPORTUNITY T O THE AO AND NOR EVEN SEEMS TO HAVE UNDERTAKEN ANY INDEPENDENT ENQUIRES ON THE RECEIPTS REFLECTED IN THE ITA NOS.3340 TO 3342,3344 & 3345/AHD/2007 9 AFORESAID CASH FLOW STATEMENTS, WE CONSIDER IT F AIR AND APPROPRIATE TO SET ASIDE THE ORDER OF THE LD. CIT(A) AND RESTORE THE ISSUES RAISED BEFORE US TO HIS FILE WITH THE DIRECTIONS TO READJUDICATE THESE ISSUES IN A CCORDANCE WITH LAW IN THE LIGHT OF OUR AFORESAID OBSERVATIONS , AFTER ALLOWING SUFFICI ENT OPPORTUNITY TO BOTH THE PARTIES, BRINGING OUT CLEARLY AS TO WHETHER OR NOT RECEIPTS REFLECTED IN THE AFORESAID CASHFLOW STATEMENTS ARE GENUINE . SUBJECT TO THESE DIRECTIONS, AFORESAID ADDITIONAL GROUNDS AND GROUNDS RAISED IN THE APPEAL S BEFORE US, ARE DISPOSED OF. 8. IN THE RESULT, ALL THE FIVE APPEALS ARE ALLOWED, BUT FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT TODAY ON 2-12-2010 SD/- SD/- (T K SHARMA) JUDICIAL MEMBER (A N PAHUJA) ACCOUNTANT MEMBER DATE : 2-12-2010 MRVALERA COPY OF THE ORDER FORWARDED TO: 1. SHRI PRAMODKUMAR A AMLANI, C/7-8, ANURAG SOCIETY , AKOTA, BARODA, & SHRI DHIRAJLAL A AMLANI, SNEHDHARA NR. ASHIRWAD S OCIETY, AKOTA, BARODA 2. ACIT, CENTRAL CIRCLE-2, BARODA 3. CIT CONCERNED 4. CIT(A)-IV, AHMEDABAD 5. DR, ITAT BENCH-D, AHMEDABAD 6. GUARD FILE BY ORDER DEPUTY REGISTRAR ASSISTANT REGISTRAR ITAT, AHMEDABAD