Jyoti Herbs (India) Pvt. Ltd., Dehradun V. DCIT, Dehradun

ITA 76/DEL/2015

• Counselvise Citation: 7620114 RSA 2015
• Duration Of Justice: 6 month(s) 11 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: 15-07-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 05-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANOJ KR CHOPRA
• Section: 133(6); 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH SMC-2, NEW DELHI) BEFORE SHRI J. S. REDDY, ACCOUNTANT MEMBER I.T.A. NO.76 /DEL/2015 ASSESSMENT YEAR : 2006-07 M/S. JYOTI HERBS (INDIA) P. LTD., VS. DCIT, CIRCL E-1, SBI ROAD, MOHEBEWALA DEHRADUN INDUSTRIAL AREA, DEHRADUN-248001 GIR / PAN:AABCJ4403E (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAHUL KHARE, ADV. RESPONDENT BY : SHRI MANOJ KR. CHOPRA, SR. DR DATE OF HEARING : 15.07.2015 DATE OF PRONOUNCEMENT : 17.07.2015 ORDER THIS IS AN APPEAL FILED BY ASSESSEE DIRECTED AGAIN ST THE ORDER OF LD. CIT(A) II, DEHRADUN, DATED 17.09.2014 FOR THE ASSES SMENT YEAR 2006-07. 2. I HAVE HEARD RIVAL CONTENTIONS. THE CREDITS IN THIS CASE WERE RECORDED IN THE BOOKS OF ACCOUNTS OF ASSESSEE DURING THE ASS ESSMENT YEAR 2003-04 RELEVANT TO FINANCIAL YEAR 2002-03. THIS IS EVIDE NT FROM THE SUBMISSIONS MADE BY SHRI CHAMPALAL CHUNNILAL MEHTA AND ANSIBEN CHAMPALAL MEHTA IN RESPONSE TO NOTICE U/S 133(6) OF THE ACT WHICH IS R ECORDED AT PAGE 2 PARA 3 OF ASSESSMENT ORDER. THE ADDITION IS MADE U/S 68 OF T HE ACT DURING THE CURRENT ASSESSMENT YEAR. SUCH ADDITION CANNOT BE MADE WHEN THE CASH CREDIT DOES NOT PERTAIN TO THE IMPUGNED ASSESSMENT YEAR.. ITA NO.76/DEL/2015 2 3. LD. D.R. SUBMITTED THAT THERE IS A DIFFERENCE BE TWEEN CLOSING BALANCE OF SHARE APPLICATION MONEY AS ON 31.03.2005 AND OPE NING BALANCE ON 01.04.2005. LD. COUNSEL FOR THE ASSESSEE FILED COPY OF BALANCE SHEET AS EVIDENCE THAT THERE IS NO SUCH DIFFERENCE BETWEEN T HE PREVIOUS YEAR CLOSING BALANCE AND CURRENT YEAR OPENING BALANCE. UNDER TH ESE CIRCUMSTANCES, THE ADDITION CANNOT BE SUSTAINED. 4. IN VIEW OF ABOVE APPEAL FILED BY ASSESSEE IS ALL OWED. 8. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH JULY, 2015. SD./- (J. S. REDDY) ACCOUNTANT MEMBER DATE: 17.07.20152015 SP 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). S.NO. DETAILS DATE INITIALS DESIGNATION 1 DRAFT DICTATED ON 15/7 SR. PS/PS 2 DRAFT PLACED BEFORE AUTHOR 15,16/7 SR. PS/PS 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/AM 5 APPROVED DRAFT COMES TO THE SR. PS/PS 17/7/15 SR. PS/PS 6 KEPT FOR PRONOUNCEMENT 17/7 SR. PS/PS 7 FILE SENT TO BENCH CLERK 17/7 SR. PS/PS 8 DATE ON WHICH THE FILE GOES TO HEAD CLERK 9 DATE ON WHICH FILE GOES TO A.R. 10 DATE OF DISPATCH OF ORDER