M/S. MIDLAND INDUSTRIES & INFRASTRUCTURS PVT. LTD., Bhopal V. THE ACIT 1(1), Bhopal

ITA 82/IND/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 5642 (ITAT-INDORE)
• Duration Of Justice: 9 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-11-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 17-10-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 19-01-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(3); 68

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE .. , .. , $ BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER M/S.MIDLAND INDUSTRIES & INFRASTRUCTURE PVT.LTD., BHOPAL .. ./ PAN: AAECM9239M VS. ACIT, 1(1), BHOPAL / APPELLANT / RESPONDENT / APPELLANT BY SHRI SUMIT KHABYA, CA / RESPONDENT BY SHRI MOHD. JAVED, SR.DR DATE OF HEARING 17.10.2016 DATE OF PRONOUNCEMENT 07.11.2016 / O R D E R PER O.P. MEENA, ACCOUTANT MEMEBR. THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE OR DER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS)-31, NEW DEL HI, .. ./ I.T.A. NO. 82/IND/2016 %' ' / ASSESSMENT YEAR : 2009-10 I.T.A.NO. 82/IND/2016 A.Y.2009-10 M/S.MIDLAND INDSUTRIES, BHOPAL PAGE 2 OF 4 CAMP BHOPAL [HEREINAFTER REFERRED TO AS THE CIT(A) ] DATED 30.06.2016 AND PERTAINS TO ASSESSMENT YEAR 2011-12 AS AGAINST APPEAL DECIDED IN ASSESSMENT ORDER PASSED U/S 143(3) OF THE ACT DATED 31.03.2014 OF ACIT, 2(1), BHOPAL [HEREINAFTER REFERRED TO AS THE AO]. 2. THERE IS ONLY SINGLE GROUND RELATING TO ADDITION OF RS. 2 LAKHS U/S 68 OF THE INCOME-TAX ACT, 1961. 3. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT THE ASSESSEE COMPANY HAS RECEIVED RS. 34 LAKHS TOWARDS S HARE APPLICATION MONEY FROM SIX PERSONS. FROM THE DETAIL S FILED BY THE PERSONS IN RESPECT OF SHARE APPLICATION MONEY, IT WAS NOTICED THAT A SUM OF RS. 2 LAKHS WAS RECEIVED FROM SHRI DEVENDRA KUMAR JAIN TOWARDS SHARE APPLICATION MONEY IN CASH. NO COPY OF INCOME TAX RETURN WAS FILED. THEREF ORE, THE AO TREATED THE SAME AS CASH CREDIT U/S 68 OF THE AC T. DURING THE APPELLATE PROCEEDINGS, THE REMAND REPORT WAS CAL LED FOR, WHEREIN THE AO STATED THAT A SUMMON WAS ISSUED TO SHR I DEVENDRA KUMAR JAIN FOR RECORDING HIS STATEMENT. TH E SUMMON WAS SERVED. HOWEVER, THE STATEMENT OF RELATI VE OF THE I.T.A.NO. 82/IND/2016 A.Y.2009-10 M/S.MIDLAND INDSUTRIES, BHOPAL PAGE 3 OF 4 CREDITOR WAS RECORDED, BUT THE LD. CIT(A) NOTED THAT IT IS A MATTER OF RECORD THAT THE SAID CREDITOR DID NOT APP EAR BEFORE THE AO IN PERSON. THEREFORE, IN RESPONSE TO SUMMON SO ISSUED AND SOMEBODY-ELSE GAVE STATEMENT ON HIS BEHALF DOES NOT PROVE THE IDENTITY OF THE CREDITOR AND THE SAME CAM E TO BE CONFIRMED BEFORE US. 4. BEFORE US, THE SAME SUBMISSIONS WERE REPEATED AND LD . SR. DEPARTMENTAL REPRESENTATIVE RELIED ON THE ORDER OF LD. CIT(A). 5. WE HAVE CONSIDERED THE FACTS AND FIND THAT SINCE TH E IDENTITY OF THE CREDITOR IS NOT PROVED AS THE CREDI TOR WAS NOT PRODUCED BEFORE THE AO., THEREFORE, WE ARE OF THE C ONSIDERED OPINION THAT THE ASSESSEE MAY BE DIRECTED TO PRODUC E THE CREDITOR SHRI DEVENDRA KUMAR JAIN BEFORE THE AO. ACCORDINGLY, THIS MATTER IS SET-ASIDE TO THE FILE O F THE AO AND AO SHALL EXAMINE THE CREDITOR AND DECIDE THE ISSUE AFRESH IN ACCORDANCE WITH LAW. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWE D FOR STATISTICAL PURPOSES. I.T.A.NO. 82/IND/2016 A.Y.2009-10 M/S.MIDLAND INDSUTRIES, BHOPAL PAGE 4 OF 4 THE ORDER HAS BEEN PRONOUNCED IN OPEN COURT ON THE 07 TH NOVEMBER, 2016. SD/- (..) (D.T.GARASIA) JUDICIAL MEMBER SD/- (..) (O.P.MEENA) ACCOUNTANT MEMBER ) / DATED : 07 TH NOVEMBER, 2016. CPU*