ITO, Baghpat V. Shri Lokesh Kumar Jain, Baghpat

ITA 4293/DEL/2012

• Counselvise Citation: 429320114 RSA 2012
• Duration Of Justice: 2 year(s) 5 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 08-01-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 07-08-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: GAURAV DUDEJA
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : D NEW DELHI BEFORE SHRI I.C. SUDHIR, J.M. AND SHRI J.SUDHAKAR REDDY, A.M. ITA NO. 4293 /DEL/20 12 ASSESSMENT YEAR : 200 7 - 08 ITO, BHAGWAN MAHAVIR MARG VS. SH. LOKESH KUMAR JAIN BARAUT, BAGHPAT S/O SH RAGHUVIR SHARAN JAIN PATHSHALA ROAD, KHEKRA, BAGHPAT PAN: AAOPJ 4844 P (APPELLANT) (RESPONDENT ) APPELLANT BY : - SH. GAURAV DUDEJA, SR.D.R. RESPONDENT BY : - SHRI VINOD KUMAR GOEL, ADV. O R D E R PER J.SUDHAKAR REDDY, AM THIS APPEAL IS FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE LD.CIT(APPEALS), MEERUT DT. 22.0 5 .20 12 PERTAINING TO THE AY 200 7 - 08 . 2. AT THE OUTSET WE SHOULD MENTION THAT THE GROUNDS RAISED BY THE REVENUE ARE NOT IN CONSONANCE WITH RULE 8 OF ITAT RULES. 3. THE LD. SR. D.R. SUBMITTED THAT THE REVENUE IS AGITATING THE DELETION OF AN ADDITION OF RS.10,30,120/ - BY THE LD.CIT(A). THE AO HAD MADE THE SAID ADDITION U/S 68 OF THE ACT. 4. AFTER HEARING SH. GAURAV DADEJA, LD.SR.D.R. ON BEHALF OF THE REVENUE AND SHRI VINOD KUMAR GOEL THE LD.COUNSEL FOR THE ASSESSEE, WE FIND THAT THE FIRST APPELLATE AUTHORITY HAS COME TO A CONCLUSION THAT NONE OF THE CREDITS IN QUESTION PERTAIN TO THE CURRENT AY. THESE ARE ALL OPENING BALANCES. UNDER THE CIRCUMSTANCES WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE FIRST APPELLATE AUTHORITY, WHEREIN HE DELETED THE ABOVE ADDITIONS. HENCE WE UPHOLD THE SAME AN D DISMISS THIS APPEAL BY THE REVENUE. ITA 4293/DEL/2012 AY 2007 - 08 SH.LOKESH KUMAR JAIN 2 5. IN THE RESULT REVENUE S APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16 TH JANUARY, 2015 . SD/ - SD/ - ( I.C. SUDHIR ) (J.SUDHAKAR REDDY) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: THE 16 TH JANUARY, 2015 *MANGA COPY OF THE ORDER FORWARDED TO: 1.APPELLANT; 2.RESPONDENT; 3.CIT; 4.CIT(A); 5.DR; 6.GUARD FILE BY ORDER ASST. REGISTRAR