ITO, New Delhi V. M/s. Real Value Plastics Pvt. Ltd., New Delhi

ITA 3924/DEL/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 61812 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 11 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-07-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 22-02-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 20-08-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DEVENDER SINGH
• Keywords: Additional evidence; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH F NEW DELHI) BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI T.S. KAPOOR, ACCOUNTANT MEMBER I.T.A. NO.3924/DEL/2010 ASSESSMENT YEAR : 2007-08 ITO, M/S REAL VALUE PLASTIC (P) WARD-15 (3), LTD. E-41, NEW MULTAN NAGAR, NEW DELHI. V. NEW DELHI. (APPELLANT) (RESPONDENT) PAN /GIR/NO. PAN /GIR/NO. PAN /GIR/NO. PAN /GIR/NO.AACCR AACCR AACCR AACCR- -- -4620 4620 4620 4620- -- -A AA A APPELLANT BY : SHRI DEVENDER SINGH, CIT-DR. RESPONDENT BY : SHRI SANJAY JAIN, C.A. ORDER PER TS KAPOOR, AM: THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE OR DER OF LD CIT(A) DATED 19.5.2010. THE GROUNDS RAISED BY THE REVENUE AR E AS UNDER:- 1. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD CIT(A) ERRED IN DELETING THE ADDITION BEING 20% OF SELLING & ADMINISTRATION EXPENSES IN THE ABSENCE OF PRODUCTION OF BOOKS OF ACCOUNTS AND VOUCHERS. 2. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD CIT(A) ERRED IN DELETING THE ADDITION ` .1,02,896/- BEING DIFFERENCE IN STOCK IN THE ABSENCE OF COMPLETE DETAIL S AND PRODUCTION OF BOOKS OF ACCOUNTS. 3. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD CIT(A) ERRED IN DELETING THE ADDITION ` . 67,241/- BEING DEBTORS ITA NO3924/DEL/2010 2 ON ACCOUNT OF OUT OF BOOKS SALES IN ABSENCE OF COMPLET E DETAILS AND PRODUCTION OF BOOKS OF ACCOUNTS. 4. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD CIT(A) ERRED IN DELETING THE ADDITION ` . 3,30,156/- BEING CREDITORS ON ACCOUNT OF BOGUS LIABILITY IN ABSENCE OF COMPLETE DETAILS AND PRODUCTION OF BOOKS OF ACCOUNTS. 5. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD CIT(A) ERRED IN DELETING THE ADDITION BY IGNORIN G THE FACTS BROUGHT OUT IN THE ASSESSMENT ORDER AS WELL AS ADMITTING ADDITIONAL EVIDENCE OF APPELLATE STAGE REJECTING THE OBJECTIONS OF THE ASSESSING OFFICER ION THIS REGARD IN THE REMAND REPO RT. 6. THE APPELLANT CRAVES TO BE ALLOWED TO ADD, DELETE OR AMEND ANY OTHER GROUNDS OF APPEAL. 2. AS CAN BE SEEN FROM THE GROUNDS OF APPEAL AND FORM NO.36, THAT TOTAL ADDITIONS TO THE TUNE OF ` .7,77,780/- WERE MADE. THE TOTAL INCOME OF THE ASSESSEE ASSESSED BY THE ASSESSING OFFICER IS ` .8,83,320/- ON WHICH TAX EFFECT COMES TO LESS THAN ` .3,00,000. ACCORDING TO THE RECENT INSTRUCTION NO.3/2011 OF 9 TH FEBRUARY, 2011 ISSUED BY THE CBDT, MONETARY LIMIT FOR FILING THE APPEAL IN INCOME TAX MATTERS BEFORE THE TRIBUNAL HAS BEEN FIXED AT ` . 3 LAKHS. THESE INSTRUCTIONS HAVE BEEN HELD TO BE APPLICABLE TO ALL PENDING APPEALS BY THE JURISDICTIONAL HIGH COURT IN THE DECISIONS OF THE CASES:- 1. CIT V. M/S PS JAIN & CO. IN I.T.A. NO. 179/1991 ORDE R DATED 2 ND AUGUST, 2010. 2. CIT V. DELHI RACE CLUB IN I.T.A. NO.128/2008, ORDER DATED 3 RD MARCH, 2011. 3. IN THIS VIEW OF THE SITUATION, THE APPEAL FILED BY THE REVENUE BEING BELOW THE MONETARY LIMIT FIXED BY THE AFOREME NTIONED CIRCULAR, IS UN-ADMITTED AND DISMISSED IN LIMINE. ITA NO3924/DEL/2010 3 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. 5. ORDER PRONOUNCED IN THE OPEN COURT ON THE 27TH DAY OF JULY, 2012. SD/- SD/- (RAJPAL YADAV) (T.S. KAPOOR) JUDICIAL MEMBER ACCOUNTANT MEMBER DT.27.7.2012. 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 14.6.2012 DATE OF DICTATION 20.7.2012 DATE OF TYPING 23.7.2012 DATE OF ORDER SIGNED BY 27.7.2012 BOTH THE MEMBERS & PRONOUNCEMENT. DATE OF ORDER UPLOADED ON NET 27.7.2012 & SENT TO THE BENCH CONCERNED.