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ITA 5680/DEL/2016

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5217 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 6 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-05-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 04-11-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHIMA NEB
• Keywords: Unexplained cash credit; Unexplained investment; Search and seizure; Source of fund
• Section: 133(6); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER & SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA NO. 5680/DEL/2016 ASSESSMENT YEAR: 2012-13 ITO WARD 6(2), ROOM NO. 380C, C.R. BUILDING, NEW DELHI. VS COMPUTER HOME INFORMATION PLUS PVT. LTD. F-114/A, MAYUR VIHAR, PHASE-II, DELHI. PAN NO. AABCC8767G APPELLANT RESPONDENT REVENUE BY MS. ASHIMA NEB, SR. DR ASSESSEE BY SHRI VED JAIN, SR. ADV. SH. RISHABH JAIN, CA MS. UMANG LUTHRA, ADV. ORDER PER SHRI N.K. BILLAIYA, A.M. WITH THIS APPEAL, THE REVENUE HAS CHALLENGED THE CO RRECTNESS OF THE ORDER OF CIT(A)-2, NEW DELHI DATED 29.07.201 6 PERTAINING TO AY 2012-13. DATE OF HEARING 23.05.2019 DATE OF PRONOUNCEMENT 24.05.2019 2 ITA NO . 5680/DEL/2016 2. THE SOLITARY GRIEVANCE OF THE REVENUE IS THAT TH E CIT(A) ERRED IN DELETING THE ADDITION OF RS. 1.14 CRORES ON ACCO UNT OF UNEXPLAINED CASH CREDIT U/S 68 OF THE IT ACT. 3. THE REPRESENTATIVES OF BOTH THE SIDES WERE HEARD AT LENGTH. CASE RECORDS CAREFULLY PERUSED AND WITH THE ASSISTA NCE OF THE COUNSEL, WE HAVE CAREFULLY PERUSED THE RELEVANT DOC UMENTARY EVIDENCES BROUGHT ON RECORD IN THE FORM OF PAPER BO OK IN THELIGHT OF RULE 18(6) OF THE ITAT RULES. 4. AT THE VERY OUTSET, WE HAVE TO STATE THAT IN OUR CONSIDERED VIEW, WHETHER A PERSON HAS DISCHARGED THE ONUS IS P URELY A QUESTION OF FACT AND, THEREFORE, THE JUDICIAL DECIS IONS RELIED UPON BY BOTH THE REPRESENTATIVES WILL BE CONSIDERED, IF WE FIND PARITY IN THE FACTS WITH THE FACTS OF THE CASE IN HAND. 5. FACTS EMANATING FROM THE RECORDS SHOW THAT THE A SSESSEE COMPANY IS ENGAGED IN TEACHING STUDENTS ACCOMMODATE D BY THE NATIONAL INSTITUTE FOR ENTREPRENEURSHIP AND SMALL B USINESS UNDER THE MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES , GOVERNMENT OF INDIA. THE RETURN OF INCOME FOR THE YEAR WAS FI LED ON 16.02.2013 WHICH WAS SELECTED FOR SCRUTINY ASSESSME NT AND, ACCORDINGLY, STATUTORY NOTICES WERE ISSUED AND SERV ED UPON THE ASSESSEE. 6. DURING THE COURSE OF SCRUTINY ASSESSMENT PROCEED INGS, THE AO FOUND THAT THE ASSESSEE HAS RECEIVED UNSECURED L OANS AMOUNTING TO RS. 1.14 CRORES FROM THE FOLLOWING COM PANIES: 3 ITA NO . 5680/DEL/2016 S.NO. NAME OF LENDERS AMOUNT 1. M/S AVS ALLOY INDIA PVT. LTD. 6,50,000/- 2. M/S PHV SECURITIES PVT. LTD. 22,50,000/- 3. M/S ROYAL MIRAGE FINANCIAL CONSULTANT PVT. LTD. 35,00,000/- 4. M/S SNG SECURITIES PVT. LTD. 30,00,000/- 5. M/S SUPER SINE TECHNOLOGIES PVT. LTD. 20,00,000/- TOTAL 1,14,00,000/- 7. THE ASSESSEE WAS ASKED TO JUSTIFY THE UNSECURED LOANS IN THE LIGHT OF THE PROVISIONS OF SECTION 68 OF THE ACT. IN ITS REPLY, THE ASSESSEE FURNISHED THE MASTER DATA OF ALL LENDER CO MPANIES, ACKNOWLEDGEMENT OF INCOME-TAX RETURNS, BANK STATEME NT AND CONFIRMATION OF ACCOUNT OF LENDER COMPANIES. THE A SSESSEE ALSO FILED AFFIDAVITS FROM THE LENDER COMPANIES IN RESPE CT OF UNSECURED LOANS ALONG WITH AUDITED FINANCIAL STATEMENTS OF LE NDER COMPANIES. 8. THE AO EXAMINED THE DOCUMENTS FURNISHED BY THE A SSESSEE AND FOUND THAT OUT OF FIVE LENDER COMPANIES, THREE COMPANIES HAVE NIL INCOME AND THE INCOME OF REMAINING TWO COMPANIE S WAS MINISCULE. ON EXAMINING THE BANK STATEMENTS, THE A O NOTICED THAT PRIOR TO THE ISSUE OF CHEQUES BY THESE LENDER COMPANIES TO THE ASSESSEE, SIMILAR AMOUNT WAS FOUND TO BE DEPOSITED/ TRANSFERRED FROM OTHER ACCOUNTS. 9. PROCEEDINGS FURTHER IN HIS INVESTIGATION, THE AO ISSUED NOTICES U/S 133(6) OF THE ACT WHICH WERE RETURNED B ACK BY THE POSTAL AUTHORITY WITH REMARKS INCOMPLETE ADDRESS. 10. THE ASSESSEE WAS CONFRONTED WITH THIS WHO FILED FRESH AFFIDAVITS ALONGWITH THE CURRENT ADDRESSES OF THE L ENDER 4 ITA NO . 5680/DEL/2016 COMPANIES. THE AO DID NOT ACCEPT THE GENUINENESS O F THE AFFIDAVITS AND DEPUTED INSPECTOR FOR FIELD ENQUIRY. 11. THE INSPECTOR IN HIS REPORT STATED THAT THESE C OMPANIES ARE FUNCTIONALLY NON-EXISTENT AND NO BUSINESS ACTIVITY WAS CARRIED OUT BY THESE COMPANIES. 12. ON THE BASIS OF THE FACTS GATHERED BY HIM, THE AO CONCLUDED AS UNDER: I. IT IS CLEARLY EVIDENT FROM THE ABOVE DISCUSSION THAT NONE OF THESE COMPANIES WERE ENGAGED IN ANY WORTHWHILE BUSI NESS ACTIVITY. EVEN THE ENQUIRIES CONDUCTED BY THE INSP ECTOR HAVE CONFIRMED THAT NO BUSINESS IS BEING CARRIED OUT BY THESE COMPANIES. II. EXAMINATION OF BANK ACCOUNTS OF THESE COMPANIES CLEARLY EVIDENCE THAT THESE COMPANIES WERE ACTING AS CONDUI T TO TRANSFER FUNDS FROM ONE ENTITY TO ANOTHER IN THE GA RB OF LOAN/ADVANCES. THE ASTOUNDING VOLUME OF TRANSACTIO NS REFLECTED IN THESE BANK ACCOUNTS, AS WELL AS,THE RE CURRING PATTERN OF CREDIT OF FUNDS INTO THESE ACCOUNTS FROM SOME SOURCE FOLLOWED BY ITS IMMEDIATE TRANSFER TO SOME OTHER EN TITY FORMS CLEAR PROOF THAT THESE BANK ACCOUNTS WERE UTILIZED JUST TO CONFER SEMBLANCE OF GENUINENESS TO CREDIT INTRODUCED IN TH E BOOKS OF THE ASSESSEE. III. THESE COMPANIES, WHICH THE ASSESSEE HAS CLAIME D TO HAVE ADVANCED SUCH HUGE AMOUNT OF FUNDS TO THE ASSESSEE DO NOT ANY FUNCTIONAL BUSINESS ACTIVITY, THEIR ANNUAL INCO ME AS DECLARED IN THEIR ITRS IS VERY NOMINAL, AND THE ANN UAL TURNOVER DECLARED BY THESE COMPANIES IN THEIR P&L ACCOUNT IS IN NO WAY COMMENSURATE WITH THE VOLUMINOUS FINANCIAL 13. HAVING OBSERVED AS HEREINABOVE, THE AO FURTHER FOUND THAT THESE LENDER COMPANIES ARE OPERATED BY ONE SHRI HIM ANSHU VERMA WHO HAD ADMITTED HIMSELF AS ENTRY PROVIDER IN HIS STATEMENT RECORDED AN OATH BY THE INVESTIGATION WIN G, DELHI DURING THE COURSE OF SEARCH AND SEIZURE OPERATION C ONDUCTED ON 29.03.2012. 5 ITA NO . 5680/DEL/2016 14. THE AO FINALLY CONCLUDED BY HOLDING THAT THE AS SESSEE HAS FAILED TO DISCHARGE ITS ONUS OF ESTABLISHING THE ID ENTITY, GENUINENESS AND CREDITWORTHINESS OF THE SOURCE OF F UNDS INTRODUCED IN HIS BOOKS OF ACCOUNT AND ADDED RS. 1. 14 CRORES U/S 68 OF THE ACT. 15. ASSESSEE CARRIED THE MATTER BEFORE THE CIT(A) A ND ONCE AGAIN FURNISHED THE RELEVANT DOCUMENTARY EVIDENCES. THE CIT(A) CONSIDERED THE SUBMISSIONS AND THE DOCUMENTARY EVID ENCES AND EXAMINED EACH LENDER COMPANY AS UNDER: (A) AVS ALLOY INDIA PRIVATE LIMITED THE APPELLANT COMPANY HAS RECEIVED UNSECURED LOAN O F RS. 6,50,000/- FROM M/S AVS ALLOY INDIA PVT. LTD. THE APPELLANT COMPANY SUBMITTED THE COPY OF BANK STATEMENT, INCOM E TAX RETURN, PAN AND AUDITED FINANCIAL STATEMENTS FOR THE AY 201 2-13 OF THE LENDER COMPANY IN SUPPORT OF ITS CLAIM. CONFIRMED LEDGER A/C OF LENDER COMPANY AS APPEARING IN THE BOOKS OF ACCOUNT S OF THE APPELLANT HAS ALSO BEEN SUBMITTED BY THE APPELLANT COMPANY. ON PERUSAL OF BALANCE SHEET OF THE LENDER COMPANY IT WAS NOTICED THAT THE COMPANY HAS OWNED FUNDS IN THE FOR M OF SHARE CAPITAL, RESERVE AND SURPLUS OF RS. 31,13,29,096/- AND DEBT FUNDS OF RS. 64,15,000/-. THE APPELLANT COMPANY HAS ALSO SU BMITTED THE COPY OF BANK STATEMENT OF THE LENDER COMPANY WITH AXIS B ANK, DELHI AND HIGHLIGHTED THE AMOUNT RECEIVED BY IT ON ACCOUNT OF UNSECURED LOANS. THE PARTICULARS OF THE BANK STATEMENT HAVE BEEN VER IFIED BY THE AO FROM THE BANKER ITSELF U/S 133(6) OF THE ACT. THER E ARE NO CASH DEPOSITS IN BANK A/C OF THE LENDER COMPANY PRIOR TO ISSUE OF FUNDS TO THE APPELLANT. THE LENDER COMPANY IS ASSESSED TO T AX UNDER PAN AAHCA1513G AND HAS FILED INCOME TAX RETURN OF THE Y EAR UNDER CONSIDERATION WHEREIN LOSS OF RS. 10,804/- HAS BEEN DECLARED. 6 ITA NO . 5680/DEL/2016 (B) PHV SECURITIES PRIVATE LIMITED THE APPELLANT COMPANY HAS RECEIVED UNSECURED LOAN O F RS. 22,50,000/- FROM M/S PHV SECURITIES PVT. LTD. THE APPELLANT COMPANY SUBMITTED THE COPY OF BANK STATEMENT, INCOM E TAX RETURN, PAN AND AUDITED FINANCIAL STATEMENTS FOR THE AY 201 2-13 OF THE LENDER COMPANY IN SUPPORT OF ITS CLAIM. CONFIRMED LEDGER ACCOUNT OF LENDER COMPANY AS APPEARING IN THE BOOKS OF ACCO UNTS OF THE APPELLANT HAS ALSO BEEN SUBMITTED. ON PERUSAL OF BALANCE SHEET OF THE LENDER COMPANY I T WAS NOTICED THAT THE COMPANY HAS OWNED FUNDS IN THE FOR M OF SHARE CAPITAL, RESERVE AND SURPLUS OF RS. 18,17,71,954.75 /-. THE APPELLANT COMPANY HAS ALSO SUBMITTED THE COPY OF BA NK STATEMENT OF THE LENDER COMPANY WITH DHANLAXMI BANK, DELHI AND H IGHLIGHTED THE AMOUNT RECEIVED BY IT ON ACCOUNT OF UNSECURED L OANS. THERE ARE NO CASH DEPOSITS IN BANK A/C OF THE LENDER COMPANY PRIOR TO ISSUE OF FUNDS TO THE APPELLANT. THE LENDER COMPANY IS ASSE SSED TO TAX UNDER PAN AAFCP3048M AND HAS FILED INCOME TAX RETURN OF T HE YEAR UNDER CONSIDERATION WHEREIN LOSS OF RS. 23,73,593/- FOR THE AY 2012-13 HAS BEEN DECLARED. (C) ROYAL MIRAGE FINANCIAL CONSULTANT PRIVATE LIMITED THE APPELLANT COMPANY HAS RECEIVED UNSECURED LOAN O F RS. 35,00,000/- FROM M/S AVS ALLOY INDIA PVT. LTD. THE APPELLANT COMPANY SUBMITTED THE COPY OF BANK STATEMENT, INCOM E TAX RETURN, PAN AND AUDITED FINANCIAL STATEMENTS FOR THE AY 201 2-13 OF THE APPLICANT COMPANY IN SUPPORT OF ITS CLAIM. CONFIRM ED LEDGER ACCOUNT OF LENDER COMPANY AS APPEARING IN THE BOOKS OF ACCOUNTS OF THE APPELLANT HAS ALSO BEEN SUBMITTED. ON PERUSAL OF BALANCE SHEET OF THE LENDER COMPANY I T WAS NOTICED THAT THE COMPANY HAS OWNED FUNDS IN THE FOR M OF SHARE CAPITAL, RESERVE & SURPLUS OF RS. 12,85,25,493.27 A ND DEBT FUNDS OF RS. 13,50,000/-. THE APPELLANT COMPANY HAS ALSO SU BMITTED THE COPY OF BANK STATEMENT OF THE LENDER COMPANY WITH AXIS B ANK, DELHI AND HIGHLIGHTED THE AMOUNT RECEIVED BY IT ON ACCOUNT OF UNSECURED LOANS. THE PARTICULARS OF THE BANK STATEMENT HAVE BEEN VER IFIED BY THE AO FROM THE BANKER ITSELF U/S 133(6) OF THE ACT. THER E ARE NO CASH DEPOSITS IN BANK A/C OF THE LENDER COMPANY BEFORE I SSUE OF FUNDS TO THE APPELLANT. THE LENDER COMPANY IS ASSESSED TO T AX UNDER PAN AAECR6098N AND HAS FILED INCOME TAX RETURN OF THE Y EAR UNDER 7 ITA NO . 5680/DEL/2016 CONSIDERATION WHEREIN GROSS TOTAL INCOME OF RS. 62, 414/- FOR THE AY 2012-13 HAS BEEN DECLARED. (D) SNG SECURITIES PRIVATE LIMITED] THE APPELLANT COMPANY HAS RECEIVED UNSECURED LOAN O F RS. 30,00,000/- FROM M/S SNG SECURITIES PVT. LTD. THE APPELLANT COMPANY SUBMITTED THE COPY OF BANK STATEMENT, INCOM E TAX RETURN, PAN AND AUDITED FINANCIAL STATEMENTS FOR THE AY 201 2-13 OF THE LENDER COMPANY IN SUPPORT OF ITS CLAIM. CONFIRMED LEDGER ACCOUNT OF LENDER COMPANY AS APPEARING IN THE BOOKS OF ACCOUNT S OF THE APPELLANT HAS ALSO BEEN SUBMITTED. ON PERUSAL OF BALANCE SHEET OF THE LENDER COMPANY I T WAS NOTICED THAT THE COMPANY HAS OWNED FUNDS IN THE FOR M OF SHARE CAPITAL, RESERVE & SURPLUS OF RS. 5,63,29,673.01 AN D DEBT FUNDS OF RS. 6,54,00,000/-. THE APPELLANT COMPANY HAS ALSO SUBM ITTED THE COPY OF BANK STATEMENT OF THE LENDER COMPANY WITH AXIS BANK , DELHI AND HIGHLIGHTED THE AMOUNT RECEIVED BY IT ON ACCOUNT OF UNSECURED LOANS. THE PARTICULARS OF THE BANK STATEMENT HAVE BEEN VER IFIED BY THE AO FROM THE BANKER ITSELF U/S 133(6) OF THE ACT. THER E ARE NO CASH DEPOSITS IN BANK A/C OF THE LENDER COMPANY BEFORE I T ISSUED FUNDS TO THE APPELLANT. THE LENDER COMPANY IS ASSESSED TO T AX UNDER PAN AANCS3668J AND HAS FILED INCOME TAX RETURN OF THE Y EAR UNDER CONSIDERATION WHEREIN GROSS TOTAL INCOME OF RS. 23 ,704/- FOR THE AY 2012-13 HAS BEEN DECLARED. (E) SUPER SINE TECHNOLOGIES PRIVATE LIMITED THE APPELLANT COMPANY HAS RECEIVED UNSECURED LOAN O F RS. 20,00,000/- FROM M/S SUPER SINE TECHNOLOGIES PVT. L TD. THE APPELLANT COMPANY SUBMITTED THE COPY OF BANK STATEM ENT, INCOME TAX RETURN, PAN AND AUDITED FINANCIAL STATEMENTS FOR TH E AY 2012-13 OF THE LENDER COMPANY IN SUPPORT OF ITS CLAIM. CONFIR MED LEDGER ACCOUNT OF LENDER COMPANY AS APPEARING IN THE BOOKS OF ACCOUNTS OF THE APPELLANT HAS ALSO BEEN SUBMITTED. ON PERUSAL OF BALANCE SHEET OF THE LENDER COMPANY I T WAS NOTICED THAT THE COMPANY HAS OWNED FUNDS IN THE FOR M OF SHARE CAPITAL, RESERVE & SURPLUS OF RS. 5,41,44,077.60 IN ITS BALANCE SHEET. THE APPELLANT COMPANY HAS ALSO SUBMITTED THE COPY O F BANK STATEMENT OF THE LENDER COMPANY WITH AXIS BANK, DEL HI AND HIGHLIGHTED THE AMOUNT RECEIVED BY IT ON ACCOUNT OF UNSECURED LOANS. THE PARTICULARS OF THE BANK STATEMENT HAVE BEEN VER IFIED BY THE AO FROM THE BANKER ITSELF U/S 133(6) OF THE ACT. THER E ARE NO CASH DEPOSITS IN BANK A/C OF THE LENDER COMPANY BEFORE I T ISSUED FUNDS TO 8 ITA NO . 5680/DEL/2016 THE APPELLANT COMPANY. THE LENDER COMPANY IS ASSES SED TO TAX UNDER PAN AAOCS6718G AND HAS FILED INCOME TAX RETURN OF T HE YEAR UNDER CONSIDERATION WHEREIN LOSS OF RS. 98,351/- FO R THE AY 2012-13 HAS BEEN DECLARED. 16. AFTER ANALYZING EACH LENDER COMPANY THE CIT(A) CAME TO THE CONCLUSION THAT THE SOURCE OF THE LOAN GIVEN BY THE SE COMPANIES TO THE ASSESSEE HAVE BEEN EXPLAINED. 17. THE CIT(A) FURTHER ANALYZED THE STATEMENT OF SH RI HIMANSHU VERMA AND FOUND THAT NOWHERE SHRI VERMA HAD STATED TO HAVE GIVEN ANY ACCOMMODATION ENTRY IN THE FORM OF UNSECU RED LOAN TO THE ASSESSEE. AFTER DISCUSSING CERTAIN JUDICIAL DE CISIONS, THE CIT(A) DELETED THE ADDITION. 18. WE HAVE ALSO THOROUGHLY EXAMINED THE FINANCIAL ACCOUNTS OF THE FIVE LENDER COMPANIES. AT THE VERY OUTSET, WE HAVE TO STATE THAT THAT INCOME MAY BE A GOOD REASON FOR EXAMINING THE SOURCE OF A PERSON BUT IT IS CERTAINLY NOT THE BE ALL END AL L. LET US TAKE AN EXAMPLE, IF PERSON IS DRAWING SALARY OF RS. 10 LAKH S P.A. AND PURCHASES A RESIDENTIAL FLAT OF RS. 50 LAKHS. CAN MERELY ON THE BASIS OF HIS INCOME ADDITION BE MADE AS UNEXPLAINED INVESTMENT? THE ANSWER IS EVIDENTLY NO BECAUSE THAT PERSON MA Y HAVE TAKEN HOUSING LOAN OF RS. 40 LAKHS TO PURCHASE THE RESIDE NTIAL FLAT. 19. BY THE SAME ANALOGY ON EXAMINING THE BALANCE SH EET OF EACH OF THE LENDER COMPANY WHICH ARE EXHIBITED FROM PAGE S 233 TO 330 OF THE PAPER BOOK. WE FIND THAT EACH OF THE LENDER COMPANY HAS GENERATED EITHER SHORT TERM BORROWINGS OR HAVE LIQU IDATED CURRENT ASSETS WHICH ARE MORE THAN SUFFICIENT TO EXTEND THE LOAN TO THE 9 ITA NO . 5680/DEL/2016 ASSESSEE COMPANY. IT IS PERTINENT TO MENTION THAT THE AO HAD ALSO SERVED NOTICES U/S 133(6) OF THE ACT TO THE BANKS O F EACH LENDER COMPANY WHO HAS FURNISHED THE BANK STATEMENT OF THE LENDER COMPANIES. THE BANK STATEMENTS ARE EXHIBITED FROM PAGES 31 TO 56 OF THE PAPER BOOK. A PERUSAL OF THE SAME REVEAL S THAT NO CASH WAS FOUND TO BE DEPOSITED PRIOR TO THE DATE OF THE ISSUE OF CHEQUES TO THE ASSESSEE COMPANY. THIS CONCLUSIVELY PROVES THAT THE ASSESSEE HAS NOT PURCHASED CHEQUES BY PAYING CASH T O THE LENDER COMPANIES. SINCE, THE BANKS HAVE RESPONDED TO THE NOTICE BY FURNISHING THE ARTICLES OF ASSOCIATION, MEMORANDUM OF ASSOCIATION, BANK OPENING FORMS OF THE LENDER COMPA NIES WHICH CLEARLY DEMONSTRATED THAT ALL THE COMPANIES HAVE FU LFILLED KYC NORMS OF BANKS. THEREFORE, THE IDENTITY OF THESE L ENDER COMPANIES HAVE BEEN ESTABLISHED BEYOND DOUBTS. 20. THE GENUINENESS OF THE TRANSACTION CAN BE SAFEL Y CONCLUDED AS ALL THE TRANSACTIONS HAVE BEEN DONE THROUGH PROP ER BANKING CHANNEL. 21. THE SOURCE OF FUNDS ARE CLEARLY ESTABLISHED FRO M THE FINANCIAL STATEMENTS OF THESE LENDER COMPANIES IRRESPECTIVE O F THEIR MEAGER INCOME OR NIL INCOME. 22. CONSIDERING THE FACTS OF THE CASE IN TOTALITY, IN OUR CONSIDERED VIEW, THE ASSESSEE HAS DISCHARGED THE ONUS CAST UPO N IT BY THE PROVISIONS OF SECTION 68 OF THE ACT AND, THEREFORE, WE DO NOT FIND ANY REASON TO INTERFERE WITH THE FINDINGS OF THE CI T(A). 10 ITA NO . 5680/DEL/2016 23. APPEAL FILED BY THE REVENUE IS DISMISSED. 24. BEFORE CLOSING AS MENTIONED ELSE WHERE, THE JUD ICIAL DECISIONS RELIED UPON BY THE REPRESENTATIVES OF BOTH THE SIDE S HAVE BEEN DULY CONSIDERED. IN OUR CONSIDERED VIEW, WE DO NOT FIND ANY PARITY IN THE FACTS OF THE DECISIONS RELIED UPON WITH THE PECULIAR FACTS OF THE CASE IN HAND. 25. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (BHAVNESH SAINI) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 24/05/2019 *KAVITA ARORA COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT TRUE COPY ASSISTANT REGISTRAR ITAT NEW DELHI 11 ITA NO . 5680/DEL/2016 DATE OF DICTATION 23.05.2019 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 24.05.2019 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P S/PS 24.5.19 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 24.5.19 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS 24.5.19 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT 24.5.19 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 24.5 .19 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER