. ACIT, Meerut V. M/s. The Baghpat Cooperative Sugar Mills Ltd., Baghpat

ITA 6058/DEL/2013

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 8315 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 4 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-04-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Next Hearing Date: 12-02-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 08-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Principle of natural justice

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH H, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER ITA NO. 6058/DEL/2013 A.Y. 2008-09 ASSISTANT COMMISSIONER OF INCOME TAX VS. M/S THE B AGHPAT COOPERATIVE CIRCLE-2, MEERUT SUGAR MILLS LTD., BAGHPAT, UP (PAN:AAAAT0568P) (APPELLANT) (RESPONDENT) DEPARTMENT BY : SH. SARABJEET SINGH, S R. DR ASSESSEE BY : SH. RAJ KUMAR, CA DATE OF HEARING : 16-02-2016 DATE OF ORDER : 05-04-2016 ORDER PER H.S. SIDHU, J.M. THE DEPARTMENT HAS FILED THIS APPEAL AGAINST THE IMPUGNED ORDER DATED 26.08.2013 PASSED BY THE LD. CIT(A), NOIDA RELEVANT TO ASSESSMENT YEAR 2008-09. 2. THE GROUNDS RAISED IN THE APPEAL READ AS UNDER:- 1. WHETHER IN THE FACTS AND CIRCUMSTANCES OF THE CA SE, THE LD. CIT(A) HAS ERRED IN LAW AND IN FACTS IN DELETING THE ADDIT ION OF RS. 25,00,000/- MADE BY AO ON ACCOUNT OF DISALLOWANCE O F MANUFACTURING EXPENSES UNDER THE HEAD MANUFACTURIN G MATERIAL AND CHEMICALS. ITA NO. 6058/DEL/2013 2 2. WHETHER IN THE FACTS AND CIRCUMSTANCES OF THE C ASE THE LD. CIT(A) HAS ERRED IN LAW IN FACTS IN DELETING THE ADDITION OF RS. 6,30,57,609/- MADE BY THE AO ON ACCOUNT OF DISALLOW ANCE OF ACCRUED INTEREST NOT PAID BY IT IN RESPECT OF SECUR ED / UNSECURED LOANS TAKEN FROM VARIOUS INSTITUTIONS OF UP GOVERNM ENT. THE ASSESSEE HAS VIOLATED SECTION 43B(D) OF THE I.T. AC T, 1961 BY NOT PAYING THE ACCRUED INTEREST BEFORE THE DUE DATE OF FILING OF RETURN. 3. THAT THE APPELLANT CRAVES LEAVE TO ADD, MODIFY A ND / OR DELETE ANY GROUND(S) OF APPEAL. 4. IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE ORDER OF THE CIT(A), NOIDA MAY BE SET ASIDE AND THAT OF THE AO R ESTORED. 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSES SEE IS A COOPERATIVE SOCIETY RUNNING SUGAR MILL AT DISTRICT BAGHPAT, UP. IN THIS CASE THE RETURN OF INCOME WAS FILED ON 10.9.2008 DECLARING CURRENT YEARS LOS S OF RS. 17,47,57,606/-. THE CASE WAS PICKED UP FOR SCRUTINY AND ASSESSMENT WAS COMPLETED ON THE TOTAL LOSS OF RS. 10,70,95,865/- VIDE ASSESSMENT ORDER U/S. 14 3(3) OF THE INCOME TAX ACT DATED 28.12.2013. . 4. AGGRIEVED WITH THE ASSESSMENT ORDER DATED 28.12. 2013, ASSESSEE FILED APPEAL BEFORE THE LD. CIT(A) WHO VIDE IMPUGNED ORD ER DATED 26.8.2013 HAS ALLOWED THE APPEAL OF THE ASSESSEE BY DELETING THE ADDITIONS IN DISPUTE. 5. AGGRIEVED WITH THE ORDER OF THE LD. CIT(A)S, RE VENUE IS IN APPEAL BEFORE THE TRIBUNAL. ITA NO. 6058/DEL/2013 3 6. LD. DR RELIED UPON THE ORDER OF THE ASSESSING OF FICER AND REITERATED THE CONTENTIONS RAISED IN THE GROUNDS OF APPEAL. 6.1 ON THE OTHER HAND, LD. COUNSEL OF THE ASSESSEE RELIED UPON THE ORDER OF THE LD. CIT(A) AND STATED THAT LD. CIT(A) HAS PAS SED A WELL REASONED ORDER WHICH DOES NOT NEED ANY INTERFERENCE AND THE SAME M AY BE UPHELD. 7. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE R ECORDS, ESPECIALLY THE ORDER OF THE REVENUE AUTHORITIES. 7.1 APROPOS GROUND NO. 1 RELATING TO DELETION OF A DDITION OF RS. 25 LACS MADE BY THE AO ON ACCOUNT OF DISALLOWANCE OF MANUFA CTURING EXPENSES UNDER THE HEAD MANUFACTURING, MATERIAL AND CHEMICALS. D URING THE COURSE OF ASSESSMENT PROCEEDINGS A.O. FOUND THAT THE ASSESSEE SOCIETY HAS CLAIMED RS. 1,01,78,326/- - UNDER THE HEAD 'MANUFACTURING M ATERIAL AND CHEMICALS' WHEREAS IN THE IMMEDIATELY PRECEDING YEAR I.E. F.Y. 2006-07 EXPENSES UNDER THE ABOVE HEAD WERE CLAIMED/SHOWN RS. 50,27,813/- T HUS THE EXPENSE CLAIMED UNDER THE ABOVE HEAD WERE MORE THAN DOUBLE THE EX PENSES OF THE LAST YEAR. ACCORDING TO A.O. THE AR OF THE ASSESSEE FAILED TO EXPLAIN THE REASONS FOR SUCH A HUGE INCREASE OF EXPENSES UNDER THE SAID HEAD, AN D FOR WANT OF PROPER EXPLANATION THE A.O. MADE AD-HOC DISALLOWANCE OF RS . 25 LACS OR ESTIMATE BASIS OUT OF TOTAL CLAIM UNDER THE SAID HEAD. AS AGAINST THE ABOVE ADDITION THE ASSESSEE HAS FURN ISHED THE DETAILS OF MANUFACTURING MATERIAL AND CHEMICALS EXPENSES AS PER SCHEDULE-'N' OF PROFIT AND LOSS ACCOUNTS WHICH IS REPRODUCED AS UNDER:- S.NO. PARTICULARS 2007-08 2006-07 ITA NO. 6058/DEL/2013 4 1 CHEMICAL CONSUMED 900231.55 399360.24 2 LAB CHEMICAL CONSUMED 55531.00 56038.75 3 LIME CONSUMED 2430189.61 17 59992.90 4 SULPHUR CONSUMED 5507503.36 1714905.40 5 CLEANING EQUIPMENT 198562.10 160517.25 6 E.T.P. EXPENSES 222883.00 165970.00 7 MFG CONTRACT EXPENSES 311999.45 373151.30 8 NICKEL SCREEN/ WIRENETTING 551426.00 397877.161 .. FROM THE AFORESAID DETAILS, IT IS OBSERVED THAT TH ERE IS MAXIMUM INCREASE IN THE AMOUNT SPENT ON SULPHUR WHEREAS MANY OTHER I TEMS SUCH AS CHEMICALS CONSUMED AND OTHERS HAVE ALSO REGISTERED MARGINAL I NCREASE. REGARDING SULPHUR IT HAS BEEN CONTENDED BY THE ASSESSEE THAT DURING T HE FINANCIAL YEAR UNDER CONSIDERATION RATE OF SULPHUR WENT UP FROM RS. 4370 /- PER MT DURING THE FY 2006-07 TO RS. 28,240/- PER MT DURING THE FY UNDER CONSIDERATION. BESIDES, STEEP PRICE RISE IN SULPHUR IT HAS ALSO BEEN STATED THAT THE INCREASE IN EXPENDITURE UNDER THE HEAD SULPHUR CONSUMED' IS A LSO BECAUSE THE ASSESSEE CRUSHED ADDITIONAL QUANTITY OF 7.81 QUINTALS OF CAN E AND THERE WAS EXCESS PRODUCTION OF 72,319 QUINTALS OF SUGAR IN COMPARISO N TO THE PREVIOUS YEAR. AS A RESULT OF ABOVE, THE CONSUMPTION OF SULPHUR WENT UP BY 57.02 METRIC TONS IN COMPARISON TO THE PREVIOUS YEAR. IN VIEW OF ABOVE EXPLANATION THE ASSESSEE HAS CONTENDED THAT DUE TO ABOVE REASONS THE OVERALL EXP ENSES ON ACCOUNT OF MANUFACTURING AND CHEMICAL EXPENSES HAD GONE UP. I N THIS REGARD THE AO IN ITA NO. 6058/DEL/2013 5 HIS REMAND REPORT DATED 22/2/2013 HAS REITERATED HI S STAND ON THIS ISSUE AND HAS JUSTIFIED THE DISALLOWANCE. IN RESPONSE TO AO'S JUSTIFICATION FOR THE SAID ADDITION THE ASSESSEE IN HIS REJOINDER DATED 21/3/ 2013 HAS PLACED HIS RELIANCE ON THE COMPARATIVE FIGURES OF VARIOUS ITEMS OF EXPE NSES FALLING UNDER THE HEAD 'MANUFACTURING MATERIAL AND CHEMICAL EXPENSES' AS P ER SCHEDULE-N OF PROFIT AND LOSS ACCOUNTS FOR THE F.Y. 2006-07 ALONG WITH Q UANTITATIVE DETAILS OF CANE CRUSHED SUGAR PRODUCED, AND CONSUMPTION OF SULPHUR. WE FIND THAT LD. CIT(A) HAVE GONE THROUGH THE DETAILS AS GIVEN BY THE ASSES SEE IN THIS REGARD AND FIND THAT DURING THE FINANCIAL YEAR UNDER CONSIDERATION THE QUANTUM OF CANE CRUSHED AND SUGAR PRODUCED HAVE GONE UP SUBSTANTIALLY AND A S A RESULT OF WHICH QUANTITY OF CONSUMPTION OF SULPHUR HAS ALSO GONE UP. THIS IS BESIDES THE FACTOR OF PRICE RISE IN SULPHUR WHICH HAS CAUSED FURTHER INCREASE I N THE QUANTUM OF EXPENDITURE SHOWN UNDER THE HEAD SULPHUR CONSUMED SUBSTANTIAL LY. THE DETAILS SHOWS THAT AS A RESULT OF INCREASE IN CANE CRUSHED AND SU GAR PRODUCED THE OTHER ITEMS OF EXPENDITURE UNDER THE HEAD MANUFACTURING MATERI AL AND CHEMICAL EXPENSES HAVE ALSO REGISTERED INCREASE OF EXPENSES IN COMPARISON TO THE LAST YEARS FIGURE OF EXPENSES. IN THIS REGARD, BESIDES ABOVE EXPLANATION FOR INCREASE IN MANUFACTURING MATERIAL AND CHEMICAL EXPENSES THE AR OF THE ASSESSEE HAS VEHEMENTLY ARGUED THAT THE ASSESSEE MAINTAINS R EGULAR BOOKS OF ACCOUNTS AND APPROPRIATE STOCK REGISTER WHICH ARE DULY AUDI TED BY THE CA AS WELL AS BY THE COOPERATIVE AUDITORS AND THAT NOWHERE, THE AO H AS DOUBTED THE GENUINENESS OF THE TRANSACTIONS RECORDED IN THE BOO KS OF ACCOUNTS IN SUPPORT OF EXPENDITURE CLAIMED UNDER THE HEAD MANUFACTURING MA TERIAL AND CHEMICAL EXPENSES NOR ANY ADVERSE OR INCRIMINATING MATERIALS HAVE BEEN PLACED ON ITA NO. 6058/DEL/2013 6 RECORD BY THE A.O. SO AS TO SHOW THAT THE PURCHASES ARE BOGUS. THE AO HAS ALSO NOT DOUBTED THE AUTHENTICITY OF THE BOOKS OF ACCOUN TS WHICH WAS PRODUCED BEFORE HIM DURING THE ASSESSMENT PROCEEDINGS. IN FA CT THE AO., HAS NOT DOUBTED THE GENUINENESS OF THE BOOKS OF ACCOUNTS AND THE AU THENTICITY OF THE TRANSACTIONS RECORDED THEREIN. MOREOVER, AO HAS ALS O NOT RECORDED ANY JUSTIFICATION FOR ARRIVING AT A FIGURE OF RS. 25 LACS FOR AD-HOC DISALLOWANCE UNDER THIS HEAD. THUS, THE AO HAS ALSO FAILED TO SP ECIFY ANY SPECIFIC ITEMS OF EXPENDITURE COMPRISING TOTAL AD-H OC DISALLOWANCE OF RS. 25 LACS AS ABOVE. IT WAS ALSO FOUND THAT THAT AS PER RECORD THAT THE AO DID NOT ISSUE ANY SHOW CAUSE NOTICE IN THIS REGARD WHILE MA KING THIS ADDITION AND TO THAT EXTENT AGREE THAT IT AMOUNTS TO BREACH OF PRIN CIPLES OF NATURAL JUSTICE. IN VIEW OF ABOVE DISCUSSIONS, WE FIND THAT THERE WAS NO NO JUSTIFICATION FOR ADHOC DISALLOWANCE OF RS. 25 LACS UNDER THE HEAD MANUFAC TURING MATERIAL AND CHEMICAL EXPENSES, HENCE, THE SAME WAS RIGHTLY DEL ETED BY THE LD. CIT(A). KEEPING IN VIEW OF THE FACTS AND CIRCUMSTANCES OF THE CASE, WE DO FIND ANY INFIRMITY IN THE ORDER OF THE LD. CIT(A), HENCE, WE UPHOLD THE ORDER OF THE LD. CIT(A) ON THE ISSUE IN DISPUTE AND DISMISS THE GROU ND RAISED BY THE REVENUE. 8. APROPOS GROUND NO. 2 RELATING TO DELETION OF AD DITION OF RS. 6,30,57,609/- MADE BY THE AO ON ACCOUNT OF DISALLOW ANCE OF ACCRUED INTEREST NOT PAID BY IT IN RESPECT OF SECURED / UNSECURED LO ANS TAKEN FROM VARIOUS INSTITUTIONS OF UP GOVERNMENT. AT THE THRESHOLD, LD . COUNSEL OF THE ASSESSEE STATED THAT THIS ISSUE IS FULLY COVERED BY THE ITAT S ORDER IN ASSESSEES CASE FOR AY 2007-08. ITA NO. 6058/DEL/2013 7 DURING THE ASSESSMENT PROCEEDINGS THE AO NOTICED THAT IN THE SCHEDULE C OF THE BALANCE SHEET THE ASSESSEE HAD SHOWN INT EREST ACCRUED BUT NOT PAID AS UNDER:- - AGAINST SECURED LOANS RS. 96,10,292/- - AGAINST UNSECURED LOANS RS. 5,34,47,317/- TOTAL RS. 6,30,57,609/- IN THIS REGARD THE AO OBSERVED THAT THE ABOVE LOANS HAVE BEEN TAKEN FROM PUBLIC FINANCIAL INSTITUTIONS AND STATE FINANC IAL CORPORATION. ACCORDING TO AO INTEREST ACCRUED ON THESE LOANS SHOULD HAVE B EEN PAID BEFORE THE DUE DATE FOR FILING OF RETURN U/S. 43B(D) OF THE I.T. ACT. S INCE THE PROOF OF PAYMENT OF ABOVE INTEREST ACCRUED WAS NOT FURNISHED BY THE ASS ESSEE, THE AO DISALLOWED THE SAME AND ADDED TO THE INCOME OF THE ASSESSEE U/ S. 43B(D) OF THE ACT. IN THIS REGARD VIDE REMAND REPORT DATED 23/2/2013 THE AO HA S REITERATED THE STAND TAKEN BY HIM IN THE ASSESSMENT ORDER AND PLEADED FO R DISALLOWANCE OF THE SAME. DURING THE APPELLATE PROCEEDINGS THE COUNSEL OF THE ASSESSEE HAS POINTED OUT SOME FIGURE RELATED TO MISTAKE COMMITTED BY AO WHIL E WORKING OUT QUANTUM OF INTEREST ACCRUED BUT NOT PAID DURING THE YEAR UNDER CONSIDERATION. WITH THE HELP OF ANNEXURES TO THE BALANCE SHEET OF THE ASSESSEE F ILED DURING THE APPELLATE PROCEEDINGS IT WAS POINTED OUT THAT INSTEAD OF RS. 6,30,57,609/- (FIGURE OF INTEREST ACCRUED BUT NOT PAID AS ADOPTED BY THE AO FOR DISALLOWANCE I.E. INTEREST AGAINST SECURED LOAN OF RS. 96,10,292 + INTEREST A GAINST UNSECURED LOAN OF RS. 5,34,47,317/-) THE CORRECT FIGURE OF DISALLOWAN CE UNDER ABOVE HEAD SHOULD HAVE BEEN 5,61,06,320/- ONLY WHICH REPRESENT INTER EST DUE BUT NOT PAID IN RESPECT OF UNSECURED LOAN APPEARING IN THE BALANCE SHEET. WE FIND THAT LD. CIT(A) HAS OBSERVED THAT THE MISTAKES AS POINTED OUT BY THE COUNSEL, AS ITA NO. 6058/DEL/2013 8 ABOVE, ARE DULY SUPPORTED BY THE RELEVANT FIGURES A PPEARING IN THE BALANCE SHEET. THIS FACTUAL POSITION MAY BE NOTED BY THE A. O. FOR NECESSARY AND APPROPRIATE ACTION AS DEEMED FIT AS PER THE PROVISI ONS OF LAW. SO FAR AS THE CLAIM FOR DEDUCTION AGAINST INTEREST ACCRUED BUT NOT PAID IS CONCERNED THE ASSESSEE HAS SUBMITTED THAT DURING THE FINANCIAL YEAR UNDER CONSIDERATION THE ASSESSEE HAS CLAIMED TOTAL DEDUCTION OF RS. 5,61,06,320/- I N RESPECT OF INTEREST ACCRUED BUT NOT PAID ON UNSECURED LOANS FROM SHAKKAR VISES H NIDHI, U.P. STATE GOVERNMENT LOAN AND U.P. CO-OPERATIVE SUGAR FACTORI ES FEDERATION LTD. THE ASSESSEE HAS CLAIMED THAT THESE LOANS HAVE BEE N RECEIVED BY THE ASSSESSEE FROM THE U.P. GOVERNMENT THROUGH ITS INST ITUTIONAL MACHINERY FOR CLEARING ALL OUTSTANDING CANE DUES OF FARMERS AND F OR OTHER SPECIFIED PURPOSES ONLY. IN THIS REGARD, COPY OF SANCTION LETTER FOR A BOVE LOAN WAS PLACED BEFORE THE LD. CIT(A) FROM WHICH IT WAS SEEN THAT THE LOAN UND ER CONSIDERATION HAS BEEN SANCTIONED BY THE U.P. STATE GOVERNMENT ALSO SPECIF YING THAT HON'BLE GOVERNOR OF U.P. HAS SANCTIONED THESE, LOANS FOR SPECIFIED P URPOSES FOR WHICH THE FUNDS HAVE BEEN WITHDRAWN FROM CONSOLIDATED FUNDS OF U.P. GOVERNMENT AND THAT THE UTIIIZATION CERTIFICATE IS TO BE SUBMITTED BY T HE RESPECTIVE MILLS TO THE DESIGNATED AUTHORITIES OF U.P. GOVERNMENT AND THAT ITS RE-PAYMENT IS ALSO TO BE MADE BY THE MILLS TO THE U.P. GOVERNMENT ONLY. IN T HIS REGARD, THE ASSESSEE HAS VEHEMENTLY ARGUED BEFORE THE LD. CIT(A) THAT THE DE FINITION OF PUBLIC FINANCIAL INSTITUTIONS/STATE FINANCIAL CORPORATION/STATE INDU STRIAL INVESTMENT CORPORATION AS GIVEN UNDER THE PROVISION OF SECTION 4A(2) OF TH E COMPANIES ACT 1956 DO NOT COVER U.P. STATE GOVERNMENT; U.P. SAHAKARI CHIN NI MILLS SANGH LIMITED AND SAKKAR VIKASH NIKDHI FROM WHERE THE ASSESSEE HA S TAKEN LOAN AND ITA NO. 6058/DEL/2013 9 THEREFORE, NO DISALLOWANCE ON THIS ACCOUNT SHOULD B E MADE AND THAT THE ADDITION MADE BY THE A.O. DESERVES TO BE DELETED. T HE ASSESSEE HAS FURTHER SUBMITTED THAT THE PROVISIONS OF 43B(D) OF THE INCO ME TAX ACT GIVES EXHAUSTIVE DEFINITION OF ALL PUBLIC FINANCIAL INSTITUTIONS/STA TE FINANCIAL CORPORATION/STATE INDUSTRIAL INVESTMENT CORPORATION WHICH HAS BEEN PR ESCRIBED U/S. 4A(2) OF THE COMPANIES ACT AND ON CAREFUL PERUSAL OF THE SAME SH OWS THAT THE NAMES OF U.P. STATE GOVERNMENT, U,P. SAHAKARI CHINI MILL SAN GH LIMITED AND SAKKAR VIKASH NIDHI ARE NOWHERE MENTIONED IN THE LIST OF SUCH INVESTMENT INSTITUTIONS. FURTHER, THE ASSESSEE ALSO CONTENDED THAT IN THE TA X AUDIT REPORT U/S.44AB EVEN THE AUDITOR HAS NOT MENTIONED IN CLAUSE 21 THAT THE INTEREST ACCRUED AND DUE BUT NOT PAID ON ABOVE LOANS ARE COVERED BY SECTION 43B( D) OF THE INCOME TAX ACT. WE FIND THAT LD. CIT(A) HAS RIGHTLY HELD THAT THE U P STATE GOVERNMENT ITSELF AND ALSO ITS INSTITUTIONS NAMELY UP SAHAKARI CHINI MILL SANGH LIMITED AND SAKKAR VIKASH NIKDHI ARE NOT COVERED BY THE DEFINIT ION OF PUBLIC FINANCIAL INSTITUTIONS / STATE FINANCE INSTITUTIONS/ STATE IN DUSTRIAL FINANCE INSTITUTIONS AS DEFINED U/S. 4A(2) OF THE COMPANIES ACT, 1956 AND T HEREFORE PROVISIONS OF SECTION 43B(D) OF THE I.T. ACT ARE NOT ATTRACTED IN THIS CASE. ACCORDINGLY, DISALLOWANCE MADE ON THIS ACCOUNT WAS RIGHTLY DELET ED BY THE LD. CIT(A). WE ALSO FIND FORCE IN THE ASSESSEES COUNSEL CONTENTIO N THAT THE ISSUE IN DISPUTE IS SQUARELY COVERED BY THE DECISION OF THE ITAT, H B ENCH, DELHI IN ASSESSEES OWN CASE FOR THE ASSESSMENT YEAR 2007-08 IN ITA NO. 6157/DEL/2012 IN THE CASE OF ACIT VS. THE BAGHPAT COOPERATIVE SUGAR MILL S LTD. WHEREIN IT WAS HELD THAT AS THE INTEREST IN QUESTION IS PAYABLE T O GOVT. OF INDIA AND THE STATE OF UP GOVERNMENT, SECTION 43B(D) DOES NOT APPLY. IN VIEW OF THE ABOVE, WE DO ITA NO. 6058/DEL/2013 10 NOT FIND ANY INFIRMITY IN THE ORDER OF THE LD. CIT( A), HENCE, WE UPHOLD THE SAME AND DISMISS THE ISSUE IN DISPUTE RAISED BY THE REVENUE. 9. IN THE RESULT, THE REVENUES APPEAL STAND DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 05/04/2016. SD/- SD/- (O.P. KANT) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIA L MEMBER DATED: 05/04/2016 *SR BHATNAGAR* COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT TRUE COPY BY ORDER, ASSITANT REGISTRAR