Smt. Manju Kunchal, Ghaziabad V. ITO, Ghaziabad

ITA 5239/DEL/2014

• Counselvise Citation: 523920114 RSA 2014
• Duration Of Justice: 9 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-07-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC 2
• Next Hearing Date: 13-07-2015
• Assessment Year: 1997-1998
• Appeal Filed On: 25-09-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANOJ KR CHOPRA
• Assessee Lawyers: L M AGARWAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH SMC - II , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO. 5239 /DEL/2014 ASSESSMENT YEAR : 1997 - 98 APPELLANT BY : SH. L.M. AGARWAL, CA RESPONDENT BY : SH. MANOJ KR. CHOPRA, SR. DR DATE OF HEARING : 13.07.2015 DATE OF PRONOUNCEMENT : 17 .07.2015 ORDER THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER DATED 04.10.2013 OF LD.CIT(A), MUZAFFARNAGAR PERTAINING TO THE ASSESSMENT YEAR 1997 - 98 ON THE FOLLOWING GROUND WHICH READS AS UNDER: - 1. THAT THE LEARNED CIT (A) ERRED IN LAW AS WELL AS ON FACT BY REJECT THE APPELLANT GROUND NO 1 'REGARDING AGAIN ADDITION OF RS. 160224/ - U/S 68 OF I. TAX ACT, AS MADE BY AO WHEN ALL BOOKS OF ACCOUNTS WAS PRODUCED WITH EVIDENCE AS PER DIRECTION OF 1TAT' VIDE ITA NO. 5022/DEL/03 DT 07/11/2 008. 2. THAT THE LEARNED CIT (A) ERRED IN LAW AS WEL L AS ON FACT BY REJECT GROUND NO. 2 & 3 IN SPITE OF THAT ALL INFORMATION AND EVIDENCE HAS BEEN PLACE ON RECORDS AND COPY OF BOOKS OF ACCOUNTS ALSO FILED. 3. THAT IN ANY CASE SUSTAINED OF ADDITION OF R S. 1,60,224/ - IS ILLEGAL AND AGAINST MATERIAL AVAILABLE ON THE RECORDS. 2. THIS IS THE SECOND ROUND OF APPELLATE PROCEEDINGS. THE SHORT POINT FOR CONSIDERATION IS WHETHER ADDITION OF RS.1 , 60 , 224/ - U/S 68 OF THE INCOME TAX ACT, 1961 IS SUSTAINABLE. THE ASS ESSEE SUBMITS THAT THESE ARE NOT FRESH CREDITS, BUT ONLY REPAYMENTS OF AMOUNT DUE FROM THE PARTIES AND THESE AMOUNTS ARE PART OF THE O PENING OUTSTANDING BALANCE S . AN AFFIDAVIT TO THAT EXTENT AND COPY OF ACCOUNTS HAVE BEEN FILED BY THE ASSESSEE . THE AO HAS NOT PRODUCED ANY EVIDENCE TO CONTRADICT THE MANJU KUNCHAL, C/O. L. M. AGARWAL & CO, CHARTERED ACCOUNTANT, KA - 32, KAVI NAGAR, GHAZIABAD PAN:AEHPK2374J VS. ITO, WARD - 1( 4 ), GHAZIABAD (APPELLANT) (RESPONDENT) PAGE 2 OF 2 SUBMISSION OF THE ASSESSEE. NO INVESTIGATION OR VERIFICATION IS DONE BY THE AO . THERE IS NO EVIDENCE TO DISBELIEVE THE AFFIDAVIT AND MATERIAL EVIDENCE PRODUCED BY THE ASSESSEE. UNDER THESE CIRCUMSTAN CES THE ADDITION IN QUESTION CANNOT BE SUSTAINED. IN THE RESULT THE ADDITION IS DELETED AND THE GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 7 T H JULY, 2015 . - S D / - ( J. SUDHAKAR REDDY ) ACCOUNTANT MEMBER DATED: 1 7 T H JULY, 2015 AKK COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT TRUE COPY BY ORDER, ASSISTANT REGISTRAR