BILT GRAPHIC PAPER PRODUCTS LTD, Chandrapur V. ADDL. CIT, Chandrapur

ITA 344/NAG/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 3112 (ITAT-NAGPUR)
• Duration Of Justice: 2 year(s) 5 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-02-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 13-09-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA KANE
• Keywords: Business income; Business expenditure; Capital receipt
• Section: 115JB

Judgement Text

1 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. I.T.A. NO. 342/NAG/2013 ASSESSMENT YEAR : 2008 - 09. ASSTT. COMMISSIONER OF INCOME - TAX, M/S BILT GRAPHIC PAPER CIRCLE - 7, NAGPUR. VS. PRODUCTS LTD., BALLARPUR. PAN AADCB2230M. APPELLANT. RESPONDENT. I.T.A. NO. 344/NAG/2013 ASSESSMENT YEAR : 2008 - 09. M/S B ILT GRAPHIC PAPER PRODUCTS LTD., ADDLT. COMMISSIONER OF BALLARPUR. VS. INCOME - TAX, CHANDRAPUR RANGE, CHANDRAPUR. CHANDRAPUR. APPELLANT. RESPONDENT. DEPARTMENT BY : SHRI NA RENDRA KANE. ASSESSEE BY : SHRI K.P. DEWANI. DATE OF HEARING : 11 - 01 - 2016 DATE OF PRONOUNCEMENT : 25 - 02 - 2016. O R D E R PER SHRI SHAMIN YAHYA, A.M . THESE CROSS APPEALS BY THE REVENUE AND THE ASSESSEE EMANATE OUT OF THE ORDER OF LEARNED CIT(APPEALS) - II, NAGPUR DATED 27 - 06 - 2013 AND PERTAIN TO ASSESSMENT YEAR 2008 - 09. THE GROUNDS OF APPEAL RAISED IN REVENUES APPEAL READ AS UNDER : 1. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, LTD. CIT(A) WAS RIGHT IN HOLDING THAT SALES TAX INCENTIVE OF RS. 11,80,66,478/ - AVAILED UNDER THE PACKAGE SCHEME OF INCENTIVE OF 2 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 GOVERNMENT OF MAHARASHTRA IS CAPITAL RECEIPT AND NOT CHARGEABLE TO TAX? 2 WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, LD. CIT(A) WAS RIGHT IN HOLDING THAT SALES TAX INCENTIVE OF RS.11,80,66,478/ - IS LIABLE TO BE DEDUCTED WHILE COMPUTING BOOK PROFIT FOR THE PURPOSE OF PAYMENT OF TAX U/S. 115JB OF THE I.T. ACT? 3 WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, LD. CIT(A) WAS RIGHT IN HOLDING THAT THE ADDITION MADE BY A.O. OF RS. 75,91,335/ - ON ACCOUNT OF CONTRIBUTION TO VARIOUS INSTITUTIONS AND CLUBS IS UNSUSTAINABLE? 4 WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, LD. CIT(A) WAS RIGHT IN DIRECTING THE A.O. TO DECIDE THE ISSUE OF DISALLOWANCE OF RS.73,91,272/ - ON ACCOUNT OF CORPORATE SOCIAL RESPONSIBILITY EXPENSES TO THE FILE OF THE A.O.TO BE DE CIDED IN ACCORDANCE WITH THE DIRECTION OF THE HON'BLE ITAT IN THE ASSESSEE'S CASE FOR THE EARLIER ASSESSMENT? 2. AT THE OUTSET IN THIS CASE LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT THE ISSUES INVOLVED IN THIS CASE HAVE ALREA DY BEEN ADJUDICATED BY THIS TRIBUNAL IN EARLIER YEARS. IN THIS REGARD LEARNED COUNSEL SUBMITTED AS UNDER : GR. NO.1: SALES TAX INCENTIVE UNDER PACKAGE SCHEME OF INCENTIVE OF GOVERNMENT OF MAHARASHTRA. AO PARA - 4.1 PAGE - 2 8 CIT(A) PARA - 5 PAGE - 3 A) SAL ES TAX INCENTIVE AVAILED UNDER THE PACKAGE SCHEME OF INCENTIVES, 1993 OF GOVT. OF MAHARASHTRA FOR SETTING UP OF INDUSTRIAL UNIT IS CAPITAL RECEIPT. B) HONBLE ITAT, NAGPUR BENCH, NAGPUR IN THE CASE OF M/S BALLARPUR INDUSTRIES LTD. HAS DECIDED SIMILAR ISSUE IN FAVOUR OF ASSESSEE. I) ITA NO. 332/NAG/2014 VIDE ORDER DATED 24 - 11 - 2015 . II) ITA NO. 262/NAG/2007 VIDE ORDER DATED 12 - 08 - 2009. GR. NO.2: SALES TAX INCENTIVES TO BE EXCLUDED FOR COMPUTING PROFIT U/S 115JB. A.O. PARA - 4.2 PAGE - 8 TO 10. CIT(A) PARA - 14 PAGE - 6 & 7. 3 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 A) HONBLE ITAT, NAGPUR BENCH, NAGPUR IN THE CASE OF M/S BALLARPUR INDUSTRIES LTD. HAS DECIDED SIMILAR ISSUE IN FAVOUR OF ASSESSEE. I) ITA NO. 332/NAG/2014 ORDER DATED 24 - 11 - 2015 . II) ITA NO. 226/NAG/2008 VID E ORDER DATED 12/08/2009 . GR. NO. 3 ADDITION OF RS.75,91,335/ - U/S 40A(9). CONTRIBUTION TO VARIOUS INSTITUTIONS AND STAFF/WORKMEN S CLUB E ETC. A.O. PARA - 4.3 PAGE - 11 & 12 CIT(A) PARA - 4 PAGE - 3. A) EXPENDITURE IS IN THE NATURE OF STAFF WELFARE OR MEANT FOR BUSINESS DEVELOPING AND IS IN THE NATURE OF ALLOWABLE BUSINESS EXPENDITURE. B) HONBLE ITAT, NAGPUR BENCH, NAGPUR IN THE CASE OF M/S BALLARPUR INDUSTRIES LTD. HAS DECIDED SIMILAR ISSUE IN FAVOUR OF ASSESSEE. I) ITA NO. 332/NAG/2 014 VIDE ORDER DATED 24/11/200 5. II) ITA NO. 22 6 /NAG/2008 VIDE ORDER DATED 12/08/2009 . GR.NO.4: SETTING ASIDE THE MATTER ON ACCOUNT OF CSR EXPENSES A.O. PARA - 4.4 PAGE - 12 - 13 CIT(A) PARA - 8 - 9 PAGE - 4 - 5. A) HONBLE CIT(A) DIRECTED A.O. TO CONSIDER CLAIM OF ASSESSEE AS PER DIRECTION OF HONBLE ITAT IN ITA NO.261/NAG/2007 IN THE CASE OF BALLARPUR INDUSTRIES LTD. B) EXPENDITURE IS IN THE NATURE OF STAFF WELFARE OR MEANT FOR BUSINESS DEVELOPMENT AND IS IN THE NATURE OF ALLOWABLE BUSINESS EXPENDITURE. C) RELIANCE ON : I) 266 ITR 0170 (MAD). D) HONBLE CIT(A) HAS NOT GRANTED ANY RELIEF TO ASSESSEE. CIT(A) MERELY DIRECTED A.O. TO CONSIDER CLAIM AS PER DIRECTION OF HONBLE ITAT IN THE CASE OF BALLARPUR INDUSTRIES LTD. IN ITA NO. 261/NAG/2007. NO GRIEVANCE TO REVENUE. 4 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 E) SIMILAR MATTER RESTORED FOR RE - ADJUDICATION BY THE A.O. IN THE CASE OF BALLARPUR INDUSTRIES LTD. BY HONBLE CIT(A) FOR A.YR. 2008 - 09. HONBLE ITAT IN ITA NO. 332/NAG/2014 VIDE ORDER DATED 24/11/2015 HAS CONFIRMED DIRECTIO N OF HONBLE CIT(A). 3. PER CONTRA LEARNED D.R. ALSO ACCEPTED THAT THE SUBMISSION OF THE LEARNED COUNSEL OF THE ASSESSEE DO NOT HAVE ANY INFIRMITY AS THE ISSUES INVOLVED HAVE ALREADY BEEN ADJUDICATED BY THE TRIBUNAL IN EARLIER YEARS. 4. UPON CAREFUL CONSIDERATION WE HOLD AS UNDER : GROUND NO. 1 RELATING TO SALES TAX INCENTIVE PACKAGE SCHEME OF INCENTIVE OF GOVERNMENT OF MAHARASHTRA HAS ALREADY BEEN HELD BY THIS TRIBUNAL IN ASSESSEES OWN CASE AS CAPITAL RECEIPT NOT CHARGEABLE TO TAX, IN FOLLOWING APPEALS: I) ITA NO. 332/NAG/2014 VIDE ORDER DATED 24 - 11 - 2015. II) ITA NO. 263/NAG/2007 VIDE ORDER DATED 12 - 08 - 2009. HENCE WE UPHOLD THE ORDER OF LEARNED CIT(APPEALS) ON THIS ISSUE. 5. REGARDING GROUND NO.2, WE HOLD THAT SALES - TAX INCENTIVE IS TO BE EXCLUDED FROM COMPUTING PROFIT U/S 115JB AS HELD BY ITAT, NAGPUR BENCH IN ASSESSEES OWN CASE AS UNDER : I) ITA NO. 332/NAG/2014 VIDE ORDER DATED 24 - 11 - 2015 II) ITA NO. 226/NAG/2008 VIDE ORDER DATE D 12 - 08=2009 HENCE WE UPHOLD THE ORDER OF LEARNED CIT(APPEALS) ON THIS ISSUE. 6. AS REGARDS GROUND NO. 3, WE HOLD THAT CONTRIBUTION MADE BY THE ASSESSEE ON ACCOUNT OF CONTRIBUTION TO VARIOUS INSTITUTIONS AND CLUBS IS NOT TO BE DISALLOWED AS SIMILAR ISSUE WAS DECIDED IN FAVOUR OF ASSESSEE BY ITAT DECISION IN ASSESSEES OWN CASE AS UNDER: I) ITA NO. 332/NAG/2014 VIDE ORDER DATED 24 - 11 - 2015. II) ITA NO. 263/NAG/2007 VIDE ORDER DATED 12 - 08 - 2009. 5 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 HENCE WE UPHOLD THE ORDER OF LEARNED CIT(APPEALS). 7. AS REGARDS GROUND NO. 4 REGARDING DISALLOWANCE OF RS.73,91,272/ - ON ACCOUNT OF CORPORATE SOCIAL RESPONSIBILITY EXPENSES, WE HOLD THAT SIMILAR ISSUE WAS DECIDED BY THE ITAT IN ASSESSEES OWN CASE IN ITA NO. 261/NAG/2007 AND IN ITA NO. 332/NAG/2014 VIDE ORDER DATED 24 - 11 - 201 5. IN THESE DECISIONS THE TRIBUNAL HAD AFFIRMED THE CIT(APPEALS) ORDER THAT THE ISSUE MAY BE EXAMINED BY THE AO AS PER DIRECTIONS OF ITAT. IN THESE CIRCUMSTANCES, WE ARE OF THE OPINION THAT THE CIT(APPEALS) ORDER DIRECTING THE AO TO CONSIDER THE ISSUE AFR ESH IN THE LIGHT OF THE ITATS DIRECTION DOES NOT NEED ANY INTERFERENCE. 8. ACCORDINGLY IN THE BACKGROUND OF AFORESAID DISCUSSION, THE GROUNDS RAISED BY THE REVENUE STAND DISMISSED. 9. ASSESSEES APPEAL: THE ISSUE RAISED IN GROUND IS AN UNDER : THAT THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) - II, NAGPUR WAS WRONG IN DISALLOWING EXPENSES RS.23 , 92,039/ - INCURRED BY THE APPELLANT COMPANY TOWARDS FESTIVAL (DIWALI) CELEBRATION EXPENSES AT IS MILLS PREMISES. 10. IN THIS CASE THE AO MADE THE DISALLOWANCE HOLDING AS UNDER : THE ASSESSEE COMPANY HAS CLAIMED AN AMOUNT OF RS.23,92,039/ - UNDER THE HEAD FESTIVAL CELEBRATION EXPENSES. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE A.R. WAS ASKED TO SUBSTANTIATE THE CLAIM ALONG WITH DOCUMENTARY EVIDENCES. TH E AR HAS NOT BEEN ABLE TO SUBSTANTIATE THE CLAIM OF FESTIVAL CELEBRATION EXPENSES WITH ANY SUPPORTING DOCUMENTARY EVIDENCE. HENCE, IN THE ABSENCE OF ANY SUPPORTING DOCUMENTARY EVIDENCES, THE SAME IS DISALLOWED. PROFIT AS PER PROFIT & LOSS ACCOUNT IS INCREA SED BY RS.23,92,039/ - FOR THE PURPOSE OF COMPUTATION OF BUSINESS INCOME. 11. UPON ASSESSEES APPEAL, LEARNED CIT(APPEALS) AFFIRMED THE AOS ORDER HOLDING AS UNDER : THIS GROUND IS DIRECTED TOWARDS DISALLOWANCE OF EXPENSES OF RS.23,92,039/ - CLAIMED TO HA VE BEEN INCURRED BY THE APPELLANT TOWARDS FESTIVAL CELEBRATION. THE APPELLANT HAS RELIED ON CERTAIN JUDICIAL 6 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 PRONOUNCEMENTS SO AS TO JUSTIFY THE ALLOWANCE OF THE SAID EXPENDITURE. HOWEVER THE LD. AO HAS NOTED IN THE ASSESSMENT ORDER (PARA 4.5) THAT DURING THE COURSE OF ASSESSMENT PROCEEDINGS THE APPELLANT WAS ASKED TO SUBSTANTIATE THE CLAIM OF SAID EXPENSES WITH DOCUMENTARY EVIDENCES AND THE DISALLOWANCE WAS MADE ONLY BECAUSE THE APPELLANT WAS NOT ABLE TO SUBSTANTIATE THE SAID CLAIM WITH ANY DOCUMENTARY EVI DENCES. WHENEVER ANY CLAIM OF EXPENDITURE IS MADE THE ONUS IS ON THE APPELLANT TO ESTABLISH THE ALLOWABILITY OF THE SAID CLAIM ALONG WITH APPROPRIATE EVIDENCES. SINCE THE APPELLANT HAS FAILED TO DO SO THE SAID DISALLOWANCE OF RS.23,92,039/ - IS UPHELD. THIS GROUND IS THEREFORE DISMISSED. 12. AGAINST THE ABOVE ORDER, ASSESSEE IS IN APPEAL BEFORE US. 13. WE HAVE HEARD BOTH THE COUNSEL AND PERUSED THE RECORDS. LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT THE ASSESSEE HAS INCURRED THESE EXPENDITURE ON ACCOUNT OF FESTIVAL CELEBRATION. THESE ARE IN THE NATURE OF EMPLOYEES WELFARE EXPENSES . LEARNED COUNSEL SUBMITTED THAT DETAILS OF THE SAME HAVE ALSO BEEN SUBMITTED BEFORE THE AO AS WELL AS THE CIT(APPEALS). IN THIS REGARD LEARNED COUNSEL REFERRED TO THE PAPER BOO K PAGE NO. 77 TO 96 WHICH GIVE THE DETAILS OF EXPENDITURE IN THIS REGARD. LEARNED COUNSEL SUBMITTED THAT PERUSAL OF THE NATURE OF EXPENSES CLEARLY INDICATE THAT THE SAME ARE ALLOWABLE BUSINESS EXPENDITURE IN THE COURSE OF CARRYING ON OF ACTIVITY OF BUSINE SS. IN THIS REGARD LEARNED COUNSEL PLACED RELIANCE ON THE FOLLOWING CASE LAWS: 1. PUNJAB POWER PACKS LTD. VS. DCIT 71 ITD 163 (CHD). 2. ACIT VS. ANIL ALUMS (P) LTD. 98 TTJ 56 (ASR). 3. VIJAY SEEDS CO. (P) LTD. VS. ACIT 79 ITD 233 (PUNE). (P - 15) 4. ITO VS. SIM MANEKLAL INDUSTRIES LTD. 5. HINDUSTAN CONSTRUCTION CO. LTD. VS. DCIT 140 ITD 642 (MUM). LEARNED COUNSEL FURTHER SUBMITTED THAT THE EXPENDITURE IN THIS REGARD ARE ALSO ALLOWABLE AS THE ASSESSEE HAS BEEN SUBJECTED TO FRINGE BENEFIT TAX BY THE AO U/S 7 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 115WB(2)(L) OF THE I.T. ACT, 1 961. HE SUBMITTED THAT THE EXPENDITURE HAVING BEEN ASSESSED TO FRINGE BENEFIT TAX OF I.T. ACT, 1961 CANNOT BE DISALLOWED FOR DETERMINING THE BUSINESS INCOME OF THE ASSESSEE. FOR THIS PROPOSITION LEA RNED COUNSEL PLACED RELIANCE UPON FOLLOWING ITAT DECISIONS : 1. ITAT ORDER IN ITA NO. 2397/MUM/2010 IN THE CASE OF HANSRAJ MATHURDAS VIDE ORDER DATED 16/09/2011. 2. ITAT ORDER IN ITA NO. 1605/DEL/2010 IN THE CASE OF M/S INDIAR CARRIERS PVT. LTD. VIDE ORDER DATED 13/05/2011 . 14. PER CONTRA LEARNED D.R. SUPPORTED THE ORDERS OF THE AUTHORITIES BELOW. 15. WE HAVE CAREFULLY CONSIDERED THE SUBMISSIONS. WE FIND THAT THE AO HAS MADE THE DISALLOWANCE OF THE EXPENDITURE ON THE GROUND THAT THE ASSESSEE HAS NOT BEEN ABLE TO SUBSTANTIATE THE CLAIM ALONG WITH DOCUMENTARY EVIDENCE. WE FIND THAT THE AO IN THE INITIAL PART OF THE ASSESSMENT ORDER HAS ADMITTED THAT THE ASSESSEE HAS SUBMITTED THE DETAILS OF ACCOUNTS USING THE WORD ETC. . HENCE THE AO HAS NOT DRAWN ANY ADVER SE INFERENCE REGARDING SUBMISSION OF BOOKS OF ACCOUNTS AND RECORDS QUA THE RETURN OF INCOME. NOW COMING TO THIS POINT OF THE ASSESSMENT ORDER, THE AO OBSERVED THAT THE ASSESSEE HAS NOT BEEN ABLE TO GIVE THE NECESSARY DOCUMENTARY EVIDENCE. IN THIS REGARD IT IS TH E CLAIM OF THE LEARNED COUNSEL OF THE ASSESSEE THAT THE ASSESSEE IS A HUGE ORGANISATION WITH BRANCHES AND OFFICES SPREAD ACROSS VAST AREA. LEARNED COUNSEL HAS CLAIMED THAT THE AO HAS NEVER PUT BEFORE THE ASSESSEE AS TO WHAT DOCUMENTARY EVIDENCE IN THIS REGARD WAS REQUIRED. LEARNED COUNSEL SUBMITTED T HAT NECESSARY DETAILS OF THE EXPENDITURE HAVE BEEN DULY GIVEN. THAT THE AO WAS DISALLOWING THE CLAIM FOR LACK OF ANY DOCUMENTARY EVIDENCE CAME TO THE KNOWLEDGE OF THE ASSESSEE ONLY WHEN IT RECEIVED THE A SSESSMENT ORDER. HENCE LEARNED COUNSEL SUBMITTED THAT WHEN NO DEFECT HAS BEEN FOUND IN THE BOOKS OF ACCOUNTS AND NO SPECIFIC REQUISITION HAS BEEN DONE BY THE AO, NO DISALLOWANCE CAN BE MADE ON THE GROUND THAT DOCUMENTARY EVIDENCES WERE NOT PRODUCED. 8 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 16. U PON CAREFUL CONSIDERATION W E FIND CONSIDERABLE COGENCY IN THE SUBMISSION OF THE LEARNED COUNSEL OF THE ASSESSEE IN THIS REGARD. FURTHER MORE WE ALSO NOTE THAT IT IS THE PLEA OF THE LEARNED COUNSEL OF THE ASSESSEE THAT THE SAID EXPENDITURE HAS ALSO BEEN SU BJECTED TO FRINGE BENEFIT TAX BY THE AO U/S 115WB(2)(L) OF THE I.T. ACT, 1961 . THIS IS NOT DISPUTED BY THE REVENUE. WE FIND THAT IN ITA NO. 2397/MUM/2010 IN THE CASE OF HANSRAJ MATHURADAS VS. ITO VIDE ORDER DATED 16 - 09 - 2011, ITAT HAS HELD THAT IN OUR OPI NION, ONCE FRINGE BENEFIT TAX IS LEVIED ON SUCH EXPENSES AS HAS BEEN DONE IN THE PRESENT CASE, IT FOLLOWS THAT THE SAME ARE TREATED AS FRINGE BENEFITS PROVIDED BY THE ASSESSEE AS EMPLOYER TO ITS EMPLOYEES AND THE SAME HAVE TO BE APPROPRIATELY ALLOWED AS EX PENSES INCURRED WHOLLY AND EXCLUSIVELY INCURRED BY THE ASSESSEE FOR THE PURPOSE OF ITS BUSINESS. 17. SIMILARLY, ITAT DELHI BENCH IN THE CASE OF ACIT VS. M/S INDIA CARRIERS PVT. LTD. IN ITA NO. 1605/DEL/2010 HAS HELD THAT WHEN THE ASSESSEE HAD MADE PAYMENT OF TAX ON FRINGE BENEFIT, NO FURTHER DISALLOWANCE CAN BE MADE IN THE HANDS OF THE ASSESSEE ON THE GROUND THAT EXPENDITURE WAS NOT INCURRED WHOLLY AND EX CLUSIVELY FOR THE PURPOSE OF BUSINESS. 18. THUS WE FIND THAT THE ISSUE IS DULY COVERED IN FAVOUR OF THE ASSESSEE BY THE ITAT DECISIONS CITED ABOVE. NO CASE HAS BEEN MADE OUT BEFORE US THAT THE AO HAS NOT ASSESSED THE IMPUGNED AMOUNT AS FRINGE BENEFIT AND SUBJECTED THE ASSESSEE TO FRINGE BENEFIT TAX ON THE SAID AMOUNT. HENCE RESPECTFULLY FOLLOWING THE PRECEDENTS AS ABOVE, WE HOLD THA T THE IMPUGNED EXPENDITURE CANNOT BE DISALLOWED IN THE HANDS OF THE ASSESSEE. HENCE WE SET ASIDE THE ORDERS OF AUTHORITIES BEL OW AND DECIDE THE ISSUE IN FAVOUR OF THE ASSESSEE. 9 ITA NOS. 342/NAG/2013 & ITA NO. 344/NAG/2013 1 9 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED AND THE APPEAL FILED BY THE ASSESSEE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 25 TH DAY OF FEB. , 2016 SD/ - SD/ - (MUKUL K. SHRAWAT) ( SHAMIM YAHYA) JUDICIAL MEMBER ACCOUNTANT MEMBER. NAGPUR, DATED: 25 TH FEB. , 2016. COPY FORWARDED TO : 1. M/S BILT GRAPHIC PAPER PRODUCTS LTD., P.O. BALLARPUR PAPER MILLS, BALLARPUR, DIST. CHANDRAPUR - 442901. 2. A.C.I.T., 7 , NAGPUR. 3. ADDL. C.I.T., CHANDRAPUR RANGE, CHANDRAPUR. 4. COMMISSIONER OF INCOME - TAX - , NAGPUR. 5. CIT(APPEALS) - I I, NAGPUR. 6. D.R., ITAT, NAGPUR. 7. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR, ITAT, NAGPUR WAKODE.