Pradeep Kumar Kedia, Kolkata V. ACIT-Central Cercle-XIII, Kolkata

ITA 850/KOL/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99669 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 2 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-08-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 28-05-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: A K TIBREWAL
• Section: 143(3); 131

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOL KATA [BEFORE SHRI MAHAVIR SINGH, JM & SHRI B. P. JAIN, AM] I.T.A NO.850/KOL/2012 ASSESSMENT YEAR: 2009-10 PRADEEP KUMAR KEDIA VS. THE ASSISTANT COMMISSIONER OF INCOME TAX, 143/1/1, COTTON STREET CENTRAL CIRCLE-XIII KOLKATA 700 007 18, RABINDRA SARANI, KOLKATA-700 001 (PAN: AGPK 0042M) ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 22.06.2015 DATE OF PRONOUNCEMENT: 14.08.2015 FOR THE APPELLANT: SHRI A.K. TIBREWAL, FCA FOR THE RESPONDE: SMT. SUCHETA CHATTOPADHYAY ROY , JCIT-DR ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY ASSESSEE IS ARISING OUT OF THE ORDER OF CIT(A)-II, KOLKATA IN APPEAL NO. 93/CC-XIII/CIT(A)C-II/10-11 DATED 19.03. 2012. ASSESSMENT WAS FRAMED BY DCIT, CC-XIII, KOLKATA U/S 143(3) OF THE INCOME-TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT)VIDE HIS ORDE R DATED 29.10.2010 FOR ASSESSMENT YEAR 2009-10. 2. IN THIS APPEAL OF ASSESSEE GROUND IS AS REGARDS TO THE ORDER OF CIT(A) IN CONFIRMING THE ADDITION MADE BY ASSESSING OFFICER U /S. 69B OF THE ACT. FOR THIS, ASSESSEE HAS RAISED FOLLOWING GROUND:- 1) THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN CONFI RMING THE ADDITION OF RS.45,83,247 MADE BY THE ASSESSING OFFICER UNDER SE CTION 69B OF THE INCOME TAX ACT, 1961 IN RESPECT OF 3100.979 GMS. OF GOLD JEWEL LERY/ORNAMENTS FOUND FROM THE POSSESSION OF MR. J. RAVI KUMAR DURING THE SEARCH A T KOLKATA AIRPORT. 2) THAT THE LD. COMMISSIONER OF INCOME TAX (APPEALS ) ERRED IN DISBELIEVING THE ISSUE OF VOUCHER NO. 121 BY M/S KEDIA JEWELLERS ON 7 TH MARCH 2009 IN RESPECT OF 3,201.010 GMS. OF GOLD JEWELLERY/ORNAMENTS SENT TO P.L.KEDIA JEWELLERS OF CHENNAI, WHEN THE BOOKS OF ACCOUNTS OF KEDIA JEWELL ERS REFLECTED THE ENTRY OF SAID VOUCHER AND THE SAME WERE NOT REJECTED BY THE ASSES SING OFFICER. 3) THAT, WITHOUT PREJUDICE TO GROUND NO. 2 ABOVE, THE LD COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN CONFIRMING THE ADDITI ON OF RS.45,83,247 IN THE TOTAL INCOME OF THE APPELLANT, WHEN THE ASSESSING OFFICER OF THE APPELLANT AS WELL AS M/S KEDIA JEWELLERS, A PARTNERSHIP FIRM WAS THE SAME PE RSON WHO ACCEPTED THE STOCK 2 ITA NO.850/K/2012 PRADEEP KR. KEDIA. AY 2009-10 REGISTER OF KEDIA JEWELLERS WHEREIN THE ENTRY OF VO UCHER NO. 121 WAS FOUND RECORDED ON 7 TH MARCH 2009. 3. BRIEFLY STATED FACTS OF THE CASE ARE THAT A SEA RCH WAS CONDUCTED AT CALCUTTA AIRPORT IN THE CASE OF SHRI J. RAVI KOCHAR, ARRIVIN G TO KOLKATA FROM CHENNAI, ON17.03.2009. DURING THE COURSE OF SEARCH GOLD AND GOLD ORNAMENTS WERE FOUND AND SEIZED. IT WAS STATED BY THE ASSESSEE THAT SHRI J. RAVI KOCHAR IS A REGULAR COURIER OF GOLD AND GOLD ORNAMENTS FOR AND ON BEHALF OF M/S. K EDIA JEWELLERS OF KOLKATA AND M/S. P.L. KEDIA JEWELLERS, PROPRIETOR PRADIP KUMAR KEDIA OF KOLKATA AND CHENNAI BRANCH. IT WAS CLAIMED BY THE ASSESSEE THAT ON 07.0 3.2009 SHRI RAVI KOCHAR CARRIED A PACKET CONTAINING GOLD ORNAMENTS WEIGHING 3201.01 0 GRAMS AS PER THE INSTRUCTIONS OF M/S KEDIA JEWELLERS OF KOLKATA TO C HENNAI FOR HANDING OVER THE SAME TO SHRI G. PRAVEEN KUMAR, MANAGER OF M/S/. P.L . KEDIA JEWELLERS, CHENNAI. IT WAS ALSO CLAIMED THAT ALTHOUGH AN ISSUE VOUCHER NO. 121 WAS PREPARED ON 07.03.2009 BY M/S KEDIA JEWELLERS FOR CARRYING THE JEWELLERY TO CHENNAI, BUT THE SAME WAS INADVERTENTLY NOT HANDED OVER TO SHRI J. R AVI KOCHAR NOR WAS PLACED IN THE PACKET CONTAINING THE SAID JEWELLERY. ON 09.03. 2009, WHILE HANDING OVER THE PACKET TO SHRI G. PRAVEEN KUMAR, IT WAS NOTICED THA T THE ISSUE VOUCHER FOR THE SAID JEWELLERIES WAS NOT FOUND IN THE PACKET AND SHRI G. PRAVEEN KUMAR IMMEDIATELY CONTACTED SHRI RABINDRA KEDIA, PARTNER OF M/S. KEDI A JEWELLERS WHO HAPPENS TO BE BROTHER OF THE ASSESSEE. THE SAID SHRI RABINDRA KED IA, INSTRUCTED HIM TO KEEP THE SAID PACKET WITH HIM FOR THE TIME BEING AND SEND IT BACK THROUGH SHRI J. RAVI KOCHAR WHEN HE COMES BACK TO KOLKATA INASMUCH AS TH E SAID PACKET OF JEWELLERY WAS WRONGLY SENT TO CHENNAI. SHRI J. RAVI KOCHAR WA S RETURNING BACK TO KOLKATA ON 17.03.2009 WHEN HE WAS ASKED BY SHRI G. PRAVEEN KUM AR TO CARRY WITH HIM A PACKET CONTAINING GOLD ORNAMENTS AND OTHER PACKET C ONTAINING GOLD BARS. BUT THE AO DID NOT ACCEPT THE EXPLANATION OF THE ASSESSEE W ITH REGARD TO SOURCE OF ACQUISITION OF 3201.010 GRAMS OF GOLD ORNAMENTS WHI CH WERE SENT BY M/S. KEDIA JEWELLERS TO M/S. P.L. KEDIA JEWELLERS, CHENNAI FOR THE REASONS THAT THERE WAS NO ENTRY OF ANY RECEIPT OF GOLD IN THE STOCK REGISTER MAINTAINED AT CHENNAI ON OR AFTER 20.02.2009 AND THE STOCK OF GOLD AS ON FEBRUARY 28, 2009 AS PER STOCK REGISTER WAS 749.581 GRAMS ONLY. THAT, SHRI PRADEEP KUMAR KEDIA, PROPRIETOR OF M/S. P. L. 3 ITA NO.850/K/2012 PRADEEP KR. KEDIA. AY 2009-10 KEDIA JEWELLERS DENIED OF HAVING SENT ANY JEWELLERY OR BAR TO CHENNAI AFTER DECEMBER, 2008. THAT, THE SURVEY REPORT DATED 15.03 .2009 OF CHENNAI SUGGESTED THAT THE GOLD METALS AND THE ORNAMENTS WERE CARRIED BUT SHRI J. RAVI KOCHAR FROM CHENNAI TO KOLKATA IS NOT FOUND RECORDED IN THE BOO KS OF M/S. P.L. KEDIA JEWELLERS, CHENNAI. AGGRIEVED, ASSESSEE PREFERRED APPEAL BEFOR E CIT(A). 4. THE CIT(A) ALSO CONFIRMED THE ACTION OF THE AO B Y OBSERVING AS UNDER:- 5. I HAVE CONSIDERED THE SUBMISSION OF THE APPELLAN T AND PERUSED THE ASSESSMENT ORDER. I HAVE ALSO GONE THROUGH THE COPIES OF STOCK REGISTER OF M/S. P.L. KEDIA JEWELLERS, CHENNAI AND M/S. KEDIA JEWELLERS, KOLKATA AS WELL A S THE VARIOUS AFFIDAVITS FILED BY THE APPELLANT BEFORE THE A.D.I.T (INVESTIGATION), KOLKA TA OR BEFORE THE AO IN THE COURSE OF ASSESSMENT PROCEEDINGS. ON CAREFUL CONSIDERATION OF THE FACTS, I AM OF OPINION THAT THE AO WAS JUSTIFIED IN HIS VIEW THAT THE GOLD ORNAMENT S WEIGHING 3100.979 GRAMS AND VALUED AT RS.45,83,247/- WERE UNEXPLAINED INVESTMEN T OF THE APPELLANT U/S. 69B OF THE ACT. IN THE COURSE OF POST SEARCH ENQUIRIES AS WELL AS IN THE COURSE OF ASSESSMENT PROCEEDINGS, THE APPELLANT HAD TRIED TO EXPLAIN SOU RCE OF GOLD ORNAMENTS WEIGHING AT 3850.560 GRAMS BY STATING THAT ORNAMENTS TO THE EXT ENT OF 3201.010 GRAMS BELONG TO M/S. KEDIA JEWELLERS, KOLKATA WHO SENT THE SAME TO M/S. P.L. KEDIA JEWELLERS, CHENNAI THROUGH SHRI J. RAVI KOCHAR ON 07.03.2009 AND FOR T HAT KEDIA JEWELLERS ISSUED AN ISSUE VOUCHER NO 121 DATED 07.03.2009. BUT THE SAID ISSUE VOUCHER AS NEITHER HANDED OVER TO SHRI J. RAVI KOCHAR NOR KEPT IN THE PACKET CONTAINI NG GOLD ORNAMENTS. AS A RESULT, THE MANAGER OF M/S. P.L. KEDIA JEWELLERS, CHENNAI DID N OT ENTER THE RECEIPT OF GOLD ORNAMENTS WEIGHING 3201.010 GRAMS IN THE STOCK REGI STER MAINTAINED AT CHENNAI. THAT, THE BALANCE GOLD ORNAMENTS WEIGHING 649.550 GRAMS B ELONG TO THE APPELLANT WHICH WERE PART OF THE STOCK MAINTAINED AT CHENNAI. ON CA REFUL CONSIDERATION OF FACTS, I AM NOT INCLINED TO AGREE WITH THE SUBMISSION OF APPELL ANT. DURING THE COURSE OF SEARCH ON 18.03.2009, THE STATEMENT OF SHRI J. RAVI KOCHAR WA S RECORDED AND IN THAT STATEMENT HE DID NOT MENTION THAT A PACKET CONTAINING 3201.010 G RAMS OF GOLD ORNAMENTS WAS SENT BY M/S KEDIA JEWELLERS ON 07.03.2009 TO BE DELIVERED T O M/S. .K. KEDIA JEWELLERS, CHENNAI. FURTHER, THE STATEMENT OF THE APPELLANT WAS ALSO RE CORDED U/S. 131 OF THE ACT ON 18.03.2009 AND HE ALSO DID NOT MENTION THAT M/S KED IA JEWELLERS HAS SENT 3201.010 GRAMS GOLD JEWELLERY TO HIS CHENNAI BRANCH ON 07.03 .2009 THROUGH SHRI J. RAVI KOCHAR. ON THE CONTRARY, HE STATED THAT NO VALUABLES/JEWELL ERY/GOLD BARS WERE SENTCONSIGNED TO M/S P.L. KEDIA JEWELLERS, CHENNAI AFTER DECEMBER, 2 008. IF GOLD ORNAMENTS WEIGHING 3201.010 GRAMS WERE SENT BY KEDIA JEWELLERS TO THE APPELLANTS BRANCH OFFICE AT CHENNAI ON 07.03.2009, THERE IS NO REASON THAT THE APPELLANT WAS NOT AWARE ABOUT THE SAME. BUT THIS WAS NEVER STATED BY HIM IN THE STATE MENT RECORDED U/S.131 OF THE ACT. IN FACT, THE MANAGER OF P.L.KEDIA JEWELLERS, CHENNAI I .E. SHRI G. PRAVEEN KUMAR ALSO DID NOT SATED THAT HE HAD RECEIVED GOLD ORNAMENTS WEIGH ING 3201.010 GRAMS FROM M/S KEDIA JEWELLES, KOLKATA THROUGH SHRI J. RAVI KOCHAR AND IN THE ABSENCE OF ISSUE VOUCHER HE DID NOT MAKE THE ENTRY IN THE STOCK REGI STER. FOR THE FIRST TIME, THE APPELLANT FILED AN AFFIDAVIT DATED 27.04.2009 WHEREIN HE STAT ED THE STORY THAT GOLD ORNAMENTS WEIGHING 3201.010 GRAM BELONGS TO M/S. KEDIA JEWELL ERS AND THAT THE SAID JEWELLERY WAS SENT BY THEM TO CHENNAI THROUGH SHRI J.RAVI KOC HAR WITHOUT HANDING OVER THE ISSUE VOUCHER. IN THE AFFIDAVIT THE APPELLANT HAS STATED THAT THE ISSUE VOUCHER NO 121 DATED 07.03.2009 WAS NEITHER HANDED OVER TO SHRI J. RAVI KOCHAR NOR WAS KEPT IN THE JEWELLERY PACKET. THIS FACT WAS NOTICED ON ARRIVAL OF J. RAVI KOCHAR AT HIS CHENNAI BRANCH AND ON ENQUIRY FROM M/S KEDIA JEWELLERPS IT WAS ASCERTAINED THAT THOSE GOLD ORNAMENTS WERE ACTUALLY MEANT FOR SOME PARTIES AND WRONGLY HANDED OVER TO J. RAVI KOCHAR FOR DELIVERY TO THE APPELLANTS CHENNAI BRAN CH. IF THE CONTENTION OF THE APPELLANT IS ACCEPTED TO BE CORRECT, THE QUESTION IS THAT AT THE TIME OF SEARCH WHEN HIS STATEMENT 4 ITA NO.850/K/2012 PRADEEP KR. KEDIA. AY 2009-10 WAS RECORDED U/S. 131 OF THE ACT, THE APPELLANT WAS AWARE ABOUT THIS FACT BUT NEVER STATED BY HIM IN HIS STATEMENT. FURTHER, ACCORDING TO THE APPELLANTS AFFIDAVIT, ON ENQUIRY FROM M/S KEDIA JEWELLERS IT WAS GATHERED TH AT THE PACKET HANDED OVER TO SHRI J. RAVI KOCHAR WAS MEANT FOR SOME OTHER PARTIES BUT WR ONGLY HANDED OVER TO HIM TO DELIVER THE SAME TO M/S P.K. KEDIA JEWELLERS, CHENN AI. IF IT IS THE FACT, THEN THERE CANNOT BE ANY QUESTION OF RAISING AN ISSUE VOUCHER NO. 121 DATED 07.03.2009 IN THE NAME OF M/S. P.K. KEDIA JEWELLERS, CHENNAI AS CLAIMED BY TH E APPELLANT. IN FACT, THE SAID ISSUE VOUCHER APPEARS TO BE MADE SUBSEQUENT TO SEIZURE OF GOLD ORNAMENTS TO EXPLAIN THE SOURCE OF ORNAMENTS. FURTHER, IT IS IMPORTANT TO NO TE THAT IF THE ISSUE VOUCHER NO. 121 DATED 07.03.2009 REMAINED TO BE HANDED OVER TO SHRI J. RAVI KOCHAR ON 07.03.200 AND IT ALSO REMAINED TO BE KEPT WITH THE PACKET CONTAIN ING ORNAMENTS AND THIS FACT CAME TO THE NOTICE OF M/S. KEDIA JEWELLERS ON 09.030.2009, AS TO WHY THE SAID ISSUE VOUCHER WAS NOT SENT TO M/S. P.L. KEDIA JEWELLERS, CHENNAI IMME DIATELY SO THAT THE MANAGER OF M/S. P.L. KEDIA JEWELLERS, CHENNAI COULD HAVE MADE THE E NTRY IN THE STOCK REGISTER. THE SO- CALLED ISSUE VOUCHER DATED 07.03.2009 WAS SENT TO C HENNAI AFTER THE SEIZURE OF ORNAMENTS AT KOLKATA AIRPORT AND THE MANAGER MADE T HE ENTRY OF RECEIPT AND ISSUE OF ORNAMENTS ON 20.03.2009. IF THE CONTENTION OF MANAG ER OF M/S. P.L. KEDIA JEWELLERS, CHENNAI IS ACCEPTED TO BE CORRECT THAT HE DID NOT M ADE THE ENTRY IN THE STOCK BOOK OF 3201.010 GRAMS OF ORNAMENTS IN THE ABSENCE OF ISSU9 E VOUCHER, THE QUESTION IS AS TO WHY HE DID NOT MAKE THE ENTRY IN THE STOCK BOOK OF 3201 .010 GRAMS OF ORNAMENTS IN THE ABSENCE OF ISSUE VOUCHER, THE QUESTION IS AS TO WHY HE DID NOT MAKE THE ENTRY OF ISSUE OF 649.550 GRAMS OF ORNAMENTS WHICH WERE HANDED OVER B Y HIM TO SHRI J. RAVI KOCHAR OUT OF STOCK APPEARING IN THE STOCK REGISTER MAINTAINED AT CHENNAI? IN VIEW OF ABOVE FACTS, I AM INCLINED TO AGREE WITH THE VIEW TAKEN BY THE AO THAT THE CONTENTION OF THE APPELLANT ABOUT OWNERSHIP OF 3201.010 GRAMS OF ORNAMENTS BELO NGING TO M/S. KEDIA JEWELLERS IS NOTHING BUT AN AFTERTHOUGHT TO EXPLAIN THE SEIZED O RNAMENTS AND NOT SUPPORTED BY THE APES BOOKS OF ACCOUNTS. UNDER THE CIRCUMSTANCES, I AM OF THE OPINION THAT THE AO HAS RIGHTLY MADE THE ADDITION OF RS.45,63,247/- U/S. 69 B OF THE ACT. THE ADDITION MADE BY THE AO IS CONFIRMED. THE GROUND NO. 2 IS DISMISSED. AGGRIEVED, ASSESSEE PREFERRED SECOND APPEAL BEFORE TRIBUNAL. 5. WE HAVE HEARD RIVAL CONTENTIONS AND GONE THROUGH FACTS AND CIRCUMSTANCES OF THE CASE. THE FACTS ARE THAT SHRI J. RAVI KOCHAR WAS SEARCHED BY INCOME TAX DEPARTMENT ON 17.03.2009 AT CALCUTTA AIRPORT, WHILE RETURNING FROM CHENNAI, AND GOLD WAS FOUND AND SEIZED. SH. RAVI KUMAR STATED TH AT THIS GOLD ORNAMENTS WEIGHING 3201.010 GRAMS BELONGS TO M/S KEDIA JEWELL ERS PROP. SH. PRADIP KUMAR KEDIA. ACCORDING TO HIM, THIS GOLD ORNAMENTS CARRIE D IN A PACKET WEIGHING 3201.010 ON THE INSTRUCTION OF M/S. KEDIA JEWELLERS , KOLKATA TO CHENNAI ON 07.03.2009 BUT THE ISSUE VOUCHER NO. 121 PREPARED O N THE VERY SAME DAY I.E. 07.03.2009 WAS INADVERTENTLY NOT HANDED OVER TO HIM BY M/S. KEDIA JEWELLERS, KOLKATA. THIS FACT WAS NOTED BY SHRI J. RAVI KOCHA R WHEN IT WAS POINTED OUT TO HIM BY SHRI G. PRAVIN KUMAR, MANAGER OF KEDIA JEWELLERS , CHENNAI. ON THIS, SHRI G. PRAVIN KUMAR CONTACTED SHRI RAVINDER KEDIA, PARTNER S OF M/S. KEDIA JEWELLERS, WHO HAPPENED TO BE THE BROTHER OF THE ASSESSEE. IN TURN, SHRI RAVINDER KEDIA INSTRUCTED SHRI G. PRAVIN KUMAR TO KEEP THE PACKET WITH HIM FOR THE TIME BEING AND 5 ITA NO.850/K/2012 PRADEEP KR. KEDIA. AY 2009-10 SEND IT BACK THROUGH SHRI J. RAVI KOCHAR TO KOLKATA . ON 17.03.2009, SHRI J. RAVI KOCHAR WHILE RETURNING TO KOLKATA WAS GIVEN THE SAM E PACKET CONTAINING 3201.010 GMS. OF GOLD ORNAMENTS WHICH WERE SENT BY M/S. KEDI A JEWELLERS, KOLKATA TO M/S. P. L. KEDIA JEWELLERS, CHENNAI. THIS EXPLANATION W AS NOT ACCEPTED BY AO FOR THE REASON THAT THERE WAS NO ENTRY OF ANY RECEIPT OF GO LD IN THE STOCK REGISTER MAINTAINED AT CHENNAI ON OR AFTER 20.02.2009 AND ACCORDING TO HIM, THE STOCK OF GOLD AS ON 28.02.2009 AS PER STOCK REGISTER WAS ONLY 749.581 G MS. ACCORDING TO AO, AS PER SURVEY REPORT DATED 15.03.2009 OF CHENNAI SUGGESTS THAT THE GOLD ORNAMENTS WERE CARRIED BY SHRI J. RAVI KOCHER BUT NOT FOUND RECORD ED IN THE BOOKS OF ACCOUNT OF M/S. P. L. KEDIA JEWELLERS. WE FIND FROM THE FACTS OF THE CASE THAT AT THE TIME OF TAKING OF POSSESSION OF THE GOLD ORNAMENT PACKET, S HRI J. RAVI KOCHAR INSISTED FOR AUTHORITY LETTER FOR CARRYING THE SAME TO KOLKATA A ND SHRI PRAVIN KUMAR, MANAGER OF M/S. P. L. KEDIA JEWELLERS, CHENNAI ISSUED AUTHORIT Y LETTER WITHOUT MAKING ANY ENTRY IN THE STOCK REGISTER MAINTAINED BY THE FIRM. THE ENTRIES FOR RECEIPT OF JEWELLERY WEIGHING 3201.010 GMS. AND DELIVERY OF JE WELLERY WEIGHING 3850.560 GMS WERE MADE ON 20.03.2009 AFTER THE RECEIPT OF TH E ISSUE VOUCHER NO. 121 DATED 07.03.2009 IN THE NAME OF M/S. P. L. KEDIA JEWELLER S, CHENNAI. THE FACTS ARE THAT THE ISSUE VOUCHER NO. 121 DATED 07.03.2009 WAS NOT FORWARDED TO M/S. P. L. KEDIA JEWELLERS, CHENNAI WITH THE PACKET CONTAINING GOLD ORNAMENTS BUT THE ENTRIES THEREOF ARE MADE IN THE STOCK REGISTER. EVEN THE E NTRIES WERE MADE IN PARTY LEDGER ACCOUNT AND GR-11 & GR-12 MAINTAINED BY M/S. KEDIA JEWELLERS, KOLKATA. THE BALANCE GOLD ORNAMENTS OF 649.550 GMS. WAS OWNED BY THE ASSESSEE AND WAS LYING AT CHENNAI BRANCH AND RECORDED AS BALANCE IN THE ST OCK REGISTER AS CLOSING STOCK. WE ARE OF THE VIEW THAT THIS IS PURELY A MISTAKE OF THE MANAGER OF M/S. P.L. KEDIA JEWELLERS, CHENNAI WHO DID NOT MAKE ANY ENTRY OF RE CEIPT OF 3201.010 GMS OF GOLD ORNAMENTS IN THE ABSENCE OF ANY VALID DOCUMENT I.E. ISSUE VOUCHER ISSUED BY M/S. KEDIA JEWELLERS, KOLKATA. WE FIND FROM THE RECORDS THAT THE ASSESSEE BEFORE THE LOWER AUTHORITIES SUBMITTED COPY OF STOCK REGISTER MAINTAINED BY M/S. P. L. KEDIA JEWELLERS AT CHENNAI AND COPY OF GS-11 & GS-12 MAIN TAINED BY KEDIA JEWELLERS, KOLKATA INCORPORATING THERE THE MOVEMENT OF GOLD OR NAMENTS AND COPY OF ISSUE VOUCHER NO. 121 DATED 07.03.2009 ISSUED IN FOVOUR O F M/S. P. L. KEDIA JEWELLERS, CHENNAI CLEARLY SHOWS THAT THIS STOCK WAS AVAILABLE WITH THE KEDIA JEWELLERS, 6 ITA NO.850/K/2012 PRADEEP KR. KEDIA. AY 2009-10 KOLKATA, WHOSE PROPRIETOR IS THE ASSESSEE SHRI PRAD IP KUMAR KEDIA. EVEN AFFIDAVITS OF J. RAVI KOCHAR, SHRI G. PRAVIN KUMAR, SHRI PRADI P KEDIA AND SHRI RAVINDER KEDIA AND ALSO COPY OF LETTER DATED 11.06.2009 OF M /S. KEDIA JEWELLERS, KOLKATA ADDRESSED TO ADIT, INV, KOLKATA ADMITTING THAT 3201 .010 GMS OF GOLD ORNAMENTS WERE SENT BY THEM TO M/S. P. L. KEDIA JEWELLERS, CH ENNAI THROUGH SHRI J. RAVI KOCHAR CLEARLY CORROBORATES THAT ASSESSEE HAS SENT THIS JEWELLERY AFTER RECORDING ENTRY IN THE STOCK REGISTER, WHICH IS AVAILABLE IN THE STOCK OF THE ASSESSEE. UNDER THESE CIRCUMSTANCES, WE FIND NO REASON TO DISBELIEV E THE ISSUE VOUCHER NO. 121 DATED 07.03.2009 AS WELL AS STOCK REGISTER OF M/S. P. L. KEDIA JEWELLERS, CHENNAI AND ALSO THE ENTRIES RECORDED IN GS-11 & GS-12, HEN CE THE GOLD ORNAMENTS FOUND FROM SHRI J. RAVI KOCHER ARE EXPLAINED GOLD ORNAMEN TS TO THE EXTENT OF 3201.010 GMS. ACCORDINGLY, WE REVERSE THE ORDERS OF THE LOW ER AUTHORITIES AND THIS ISSUE OF ASSESSEES APPEAL IS ALLOWED. 6. IN THE RESULT, APPEAL OF ASSESSEE IS ALLOWED. 7. ORDER IS PRONOUNCED IN THE OPEN COURT ON 14/08 /2015. SD/- SD/- (B. P. JAIN) 10/08/2015 (MAHAVIR SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 14 TH AUGUST, 2015 *DKP-P.S COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT PRADEEP KR. KEDIA, 143/1/1, COTTON STREE T, KOLKATA- 700007. 2 RESPONDENT ACIT, CC-XIII, 18, RABINDRA SARANI, KO LKATA-01. 3 . THE CIT(A), KOLKATA 4. 5. CIT KOLKATA DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .