M/s Bhatia Coal Trading & Consignment (P)Ltd., Indore V. The Addl. CIT Range-3, Indore

ITSSA 110/IND/2011

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 2398 (ITAT-INDORE)
• Duration Of Justice: 4 year(s) 9 month(s) 20 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 17-08-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: Not Allotted
• Next Hearing Date: 11-05-2016
• Assessment Year: 2006-2007
• Appeal Filed On: 28-10-2011
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAJEEV VARSHNEY; R A VERMA DRS
• Assessee Lawyers: ARPIT GAUR CAS
• Keywords: Bogus Share capital; Opportunity of being heard; Accommodation entries
• Section: 143(3); 142(1); 153A; 68

Judgement Text

BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 1 IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI B.C. MEENA, ACCOUNTANT MEMBER IT(SS)A NOS.110 & 111/IND/2011 A.YS. 2006-07 & 2007-08 BHATIA COAL TRADING & CONSIGNMENT P. LTD. (NOW KNOWN AS BHATIA GLOBAL TRADING LTD.) INDORE PAN AAACB 6751 C :: ASSESSEE VS ADDL. CIT, RANGE-3, INDORE :: RESPONDENT ASSESSEE BY SHRI ANIL KAMAL GARG AND SHRI ARPIT GAUR, CAS RESPONDENT BY SHRI RAJEEV VARSHNEY AND SHRI R.A. VERMA, DRS DATE OF HEARING 18.5.2016 DATE OF PRONOUNCEMENT 18.5.2016 O R D E R PER SHRI D.T. GARASIA, JM THE ABOVE APPEALS FILED BY THE ASSESSEE ARE DIRECTE D AGAINST THE DIFFERENT ORDERS OF LD. CIT(A)-I, INDORE, DATED 16. 9.2011. SINCE COMMON FACTS AND CIRCUMSTANCES ARE INVOLVED, WE ARE DECIDI NG BOTH THE APPEALS SIMULTANEOUSLY TAKING FACTS FROM THE A.Y. 2006-07. 2. SHORT FACTS OF THE CASE ARE THAT THE ASSESSEE IS A CLOSELY HELD PUBLIC LIMITED COMPANY DULY INCORPORATED AND REGIST ERED UNDER THE COMPANIES ACT, 1956, ON 28-08-1991. IT IS ONE OF TH E VARIOUS COMPANIES OF WELL KNOWN BHATIA GROUP (ALSO KNOWN AS BCC G ROUP) OF INDORE. BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 2 THE ASSESSEE COMPANY IS REGULARLY ASSESSED TO INCOM E-TAX SINCE ITS INCEPTION. THE ASSESSEE COMPANY FURNISHED ITS ORIGI NAL RETURN OF INCOME, PERTAINING TO THE ASSESSMENT YEAR UNDER CON SIDERATION, U/S. 139(1) OF THE INCOME-TAX ACT, 1961, ON 08-11-2006 W ITH THE THEN ACIT- 3(1), INDORE, DECLARING AN INCOME OF RS.NIL. A COPY OF THE ACKNOWLEDGEMENT OF THE ORIGINAL RETURN AND A COPY O F COMPUTATION OF TOTAL INCOME ARE PLACED AT PAGE NO. 9 OF THE PAPER BOOK. ALONG WITH THE RETURN OF INCOME, THE ASSESSEE FURNISHED ALL THE NE CESSARY DOCUMENTS SUCH AS COPY OF THE AUDITORS REPORT, COPY OF THE A UDITED BALANCE- SHEET, AUDITED PROFIT & LOSS ACCOUNT AND SCHEDULES ETC. COPIES OF SUCH DOCUMENTS ARE PLACED AT PAGE NO. 13 TO 26 OF THE PA PER BOOK. IN RESPONSE TO THE RETURN OF INCOME, FURNISHED BY THE ASSESSEE U/S. 139(1) OF THE INCOME-TAX ACT, 1961, NO ACTION WAS TAKEN BY THE ASSESSING OFFICER AND AS SUCH THE ASSESSMENT WAS DEEMED TO HA VE BEEN COMPLETED U/S. 143(1)(A) OF THE INCOME-TAX ACT, 196 1. A SEARCH U/S. 132(1) OF THE INCOME-TAX ACT, 1961 WAS CARRIED OUT BY THE ASSISTANT DIRECTOR OF INCOME-TAX (INV.)-II, INDORE, ON 25-09- 2007, IN THE BUSINESS PREMISES OF THE ASSESSEE COMPANY AS ALSO IN THE RES IDENTIAL PREMISES OF ITS DIRECTORS. DURING THE COURSE OF THE SEARCH, THE BHATIA GROUP HAD ADMITTED ADDITIONAL INCOME AGGREGATING TO RS.26,15, 24,529/- AND AS AGAINST SUCH ADMITTED INCOME OF RS.26,15,24,529/-, THE GROUP, AS A WHOLE, HAD SHOWN AN ADDITIONAL INCOME OF RS.27,33,7 3,087/- IN THE RETURNS OF INCOME FURNISHED UNDER S.153A OF THE ACT . HOWEVER, THE ASSESSEE NEITHER ADMITTED NOR DECLARED ANY ADDITION AL INCOME IN ITS RETURN OF INCOME. SUCH FACTS ARE EVIDENT FROM THE F INDINGS GIVEN BY THE CIT(A) AT PARA 2 & 2.1 AT PAGE NO. 2 & 3 OF HIS ORD ER. DURING THE COURSE OF THE SEARCH, NO UNDISCLOSED OR UNEXPLAINED MONEY, BULLION, JEWELLERY, VALUABLE ARTICLES OR THINGS PERTAINING TO THE ASSES SEE WERE FOUND OR SEIZED FROM THE PREMISES OF ANY PERSON IN WHOSE CAS E SEARCH UNDER BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 3 S.132 WAS INITIATED. SUBSEQUENTLY, A NOTICE DATED 0 3-03-2008 WAS ISSUED BY THE LEARNED ADDL. COMMISSIONER OF INCOME- TAX, RANGE-3, INDORE, U/S. 153A OF THE INCOME-TAX ACT, 1961. UNDE R SUCH NOTICE, THE ASSESSEE WAS REQUIRED TO FURNISH ITS RETURN OF TOTA L INCOME PERTAINING TO THE ASSESSMENT YEAR UNDER REVIEW, WITHIN A PERIOD O F 15 DAYS FROM THE DATE OF SERVICE OF THE NOTICE. A COPY OF THE NOTICE UNDER S. 153A IS PLACED AT PAGE NO. 1 OF THE PAPER BOOK. IN RESPONSE TO THE NOTICE U/S. 153A, THE ASSESSEE, FURNISHED ITS RETURN OF TOTAL I NCOME ON 02-07-2008 VIDE ACK. NO. 0030100167 DECLARING THE SAME INCOME OF RS.NIL AS WAS DECLARED BY IT IN THE ORIGINAL RETURN FURNISHED U/S . 139(1) (PB PAGE NO. 10 TO 12). THE CASE OF THE ASSESSEE WAS SELECTED FO R SCRUTINY AND NOTICES U/S. 143(2) & 142(1) ALONG WITH QUESTIONNAI RES WERE ISSUED FROM TIME TO TIME. IN RESPONSE TO SUCH NOTICES, THE ASSE SSEE COMPANY THROUGH ITS AUTHORIZED REPRESENTATIVE ATTENDED THE HEARINGS BEFORE THE LEARNED ASSESSING OFFICER FROM TIME TO TIME AND MAD E WRITTEN SUBMISSIONS ALONG WITH NECESSARY DOCUMENTARY EVIDEN CES. FINALLY, THE ASSESSING OFFICER FRAMED THE ASSESSMENT ON 29-12-20 09, U/S. 153A READ WITH SECTION 143(3) OF THE INCOME-TAX ACT, 196 1, DETERMINING THE TOTAL INCOME OF THE ASSESSEE AT RS.4,92,00,000/- AS AGAINST THE RETURNED INCOME OF RS.NIL THEREBY MAKING ADDITION OF RS.4,92 ,00,000/-. THE ENTIRE ADDITION OF RS.4,92,00,000/- HAS BEEN MADE BY THE L EARNED AO, UNDER THE PROVISIONS OF SECTION 68 OF THE INCOME-TAX ACT, 1961, BY HOLDING THAT THE SHARE APPLICATION MONEY/ SHARE CAPITAL CLAIMED TO HAVE BEEN RECEIVED BY THE ASSESSEE COMPANY ARE NOT GENUINE. GROUND NOS. 1.1 & 1.2 3. THESE GROUNDS ARE DIRECTED AGAINST THE AOS ACTI ON OF MAKING ADDITIONS U/S 153A ON THOSE ISSUES IN RESPECT OF WH ICH NO INCRIMINATING MATERIAL WAS FOUND OR SEIZED DURING THE COURSE OF S EARCH. BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 4 4. SHORT FACTS OF THE ISSUE ARE THAT THE AO HAS NOT GIVEN ANY SPECIFIC FINDING ON THE ISSUE. IN THE INSTANT CASE, THE AO H AS MADE ONLY ONE ADDITION OF RS.4,92,00,000/- ON ACCOUNT OF ALLEGED UNEXPLAINED SHARE CAPITAL. FOR MAKING THE ADDITION, THE AO HAS TAKEN THE LEAD FROM THE AUDITED BALANCE SHEET OF THE ASSESSEE COMPANY WHICH IS EVIDENT FROM THE FIRST PARA ON PAGE NO.5 OF THE ASSESSMENT ORDER . 5. MATTER CARRIED TO LEARNED CIT(A), WHO HAS HELD T HAT ADDITIONS AND DISALLOWANCES IN RESPECT OF VARIOUS ITEMS DULY RECO RDED IN THE REGULAR BOOKS OF ACCOUNT AND DULY DISCLOSED BEFORE THE DEPA RTMENT CAN ALSO BE MADE EVEN WHEN NO INCRIMINATING DOCUMENT WAS FOUND OR SEIZED DURING THE COURSE OF THE SEARCH. THE CIT(A) HAS RELIED UPO N HIS OWN FINDINGS GIVEN WHILE ADJUDICATING THE APPEAL IN THE CASE OF ONE OF THE GROUP ASSESSEES NAMELY, SHRI AMANDEEP SINGH BHATIA, FOR A .Y. 2002-03. 6. THE LD. AR FOR THE ASSESSEE HAS MADE ORAL AS WEL L AS WRITTEN SUBMISSION AS UNDER: 1.00 IT IS SUBMITTED THAT FOR THESE GROUNDS, A DET AILED SUBMISSION HAS BEEN MADE IN THE CASE OF APPEAL OF ONE OTHER GROUP ASSES SEE NAMELY OF SHRI AMANDEEP SINGH BHATIA IN APPEAL NO. IT(SS)A-112/IND /2011 FOR A.Y. 2002- 03 PENDING FOR ADJUDICATION BEFORE THIS HONBLE BEN CH. SINCE, WHILE ADJUDICATING THE GROUNDS OF APPEAL RAISED BEFORE TH E CIT(A), THE CIT(A) HAS RELIED UPON HIS OWN FINDINGS GIVEN IN THE AFORESAID CASE OF SHRI AMANDEEP SINGH BHATIA, OUR SUBMISSIONS MADE BEFORE THIS HON BLE BENCH IN THE CASE OF SHRI AMANDEEP SINGH BHATIA MAY KINDLY BE TAKEN INTO CONSIDERATION. 2.01 SINCE IN THE ASSESSEES CASE, THE ORIGINAL RET URN OF INCOME WAS FILED BELATEDLY UNDER S.139(4) OF THE ACT ON 08-11-2006 A ND AS PER THE LAW PREVAILING AT THAT TIME, THE NOTICE UNDER S.143(2) COULD HAVE BEEN ISSUED TO THE ASSESSEE UPTILL 30-11-2007 WHEREAS THE SEARCH H AS BEEN INITIATED ON 25- 09-2007 ITSELF, THE ASSESSMENT YEAR UNDER CONSIDERA TION HAS TO BE REGARDED AS AN ABATED ASSESSMENT YEAR. 2.02 ALTHOUGH THE CAPTIONED ASSESSMENT YEAR IS AN A BATED ASSESSMENT YEAR, BUT EVEN FOR SUCH ASSESSMENT YEAR, NO ADDITIO N COULD HAVE BEEN MADE BY THE AO AND CONFIRMED BY THE CIT(A) WITHOUT HAVIN G RECOURSE TO ANY INCRIMINATING MATERIAL. IT IS SUBMITTED THAT THERE WAS NO INCRIMINATING DOCUMENT FOUND BY THE SEARCH PARTY PERTAINING TO TH E ASSESSMENT YEAR UNDER CONSIDERATION AND THEREFORE, NO ADDITION CAN BE MAD E/ SUSTAINED ON THIS LEGAL COUNT ALONE. FOR SUCH PROPOSITION, RELIANCE IS PLAC ED ON THE VERY RECENT JUDICIAL PRONOUNCEMENT OF HONBLE DELHI HIGH COURT IN THE CASE OF PR. CIT VS. BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 5 LATA JAIN (ITA 274/2016) PRONOUNCED ON 29-04-2016. THE HONBLE DELHI HIGH COURT FOLLOWING ITS OWN DECISION IN THE CASE OF CIT VS. KABUL CHAWLA (2016) 380 ITR 573 (DEL.) HELD THAT WHERE NO INCRIMINATING MATERIAL QUA THE ASSESSEE IS FOUND FOR THE ASSESSMENT YEAR IN QUESTI ON, NO ADDITION CAN BE MADE. 7. LD. DRS HAVE RELIED ON THE ORDERS OF THE REVENUE AUTHORITIES AND SUBMITTED THAT OUR ARGUMENTS ADVANCED IN THE CASE O F AMANDEEP SINGH BHATIA ON IDENTICAL FACTS MAY BE TAKEN INTO CONSIDE RATION. 8. WE HAVE HEARD RIVAL CONTENTIONS OF BOTH THE PART IES AND PERUSED MATERIAL AVAILABLE ON RECORD. THE CIT(A) HAS RELIED UPON HIS OWN FINDINGS GIVEN IN THE CASE OF SHRI AMANDEEP SINGH B HATIA. HOWEVER, WE FIND THAT SINCE THE ASSESSMENTS FOR THE A.YS. 2006- 07 & 2007-08 ARE ABATED, THE PRESENT ISSUE IN ASSESSEES APPEALS IT( SS)A NOS.110 & 111/IND/2011 FOR THE A.YS. 2006-07 AND 2007-08 WAS NOT PRESSED BY THE LD. COUNSEL FOR THE ASSESSEE DURING THE COURSE OF H EARING, THEREFORE, SAME IS DISMISSED FOR THE A.YS. 2006-07 & 2007-08. GROUND NO. 2 9. THIS GROUND IS DIRECTED AGAINST THE CIT(A)S FIN DING OF UPHOLDING AOS ACTION OF PASSING THE ASSESSMENT ORDER ARBITRA RILY WITHOUT GIVING PROPER OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. THE CIT(A) HAS DEALT WITH THIS GROUND. ACCORDING TO THE CIT(A), THE ASSE SSEE WAS GIVEN DUE OPPORTUNITY BY THE AO. BEFORE US, LD. COUNSEL FOR T HE ASSESSEE DID NOT PRESS THIS GROUND. THEREFORE, SAME IS DISMISSED BEI NG NOT PRESSED IN BOTH THE APPEALS OF THE ASSESSEE. GROUND NO. 3 10. IN THE A.Y. 2006-07, THIS GROUND OF APPEAL IS D IRECTED AGAINST UPHOLDING THE ADDITION MADE BY THE AO AT RS.4,92,00 ,000/- ON ACCOUNT OF SHARE CAPITAL/SHARE APPLICATION/SHARE PREMIUM. W HEREAS IN THE A.Y. BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 6 2007-08, THIS GROUND OF APPEAL IS DIRECTED AGAINST UPHOLDING THE ADDITION MADE BY THE AO AT RS.4,15,50,000/- ON ACCOUNT OF SH ARE CAPITAL/SHARE APPLICATION/SHARE PREMIUM. 11. SHORT FACTS OF THE ISSUE ARE THAT THE AO HAS DE ALT WITH THIS ISSUE AT PAGE NO. 2 TO 94 OF HIS ORDER. THE AO, AT PAGE NO. 94 OF THE ORDER, HAS HELD THE CAPITAL INTRODUCED BY THE ASSESSEE COMPANY THROUGH PARTLY CONVERTIBLE SHARES WERE NOT GENUINE AS THE ASSESSEE COULD NOT ESTABLISH THE IDENTITY AND CREDITWORTHINESS OF THE SHARE APPL ICANT COMPANIES. THE AO MADE THE ADDITION BY INVOKING PROVISIONS OF SECT ION 68 OF THE ACT. THE MAIN GROUNDS TAKEN BY THE AO WERE : (I) HUGE SH ARE CAPITAL AND SHARE PREMIUM MONEY WERE RECEIVED BY THE ASSESSEE A ND OTHER GROUP COMPANIES DURING THE PERIODS UNDER ASSESSMENT; (II) IN RECENT YEARS, THE FIELD OFFICERS OF THE INCOME-TAX DEPARTMENT HAVE CO ME ACROSS TO A SITUATION IN WHICH CALCUTTA, MUMBAI AND SURAT BASED COMPANIES ARE PROVIDING ACCOMMODATION ENTRIES TO INDORE BASED COM PANIES; (III) SHARE APPLICANT COMPANIES ARE VERY SYSTEMATICALLY ISSUING HUGE AMOUNTS OF CHEQUES TO EACH OTHER WITHOUT ANY COMMERCIAL SENSE; (IV) SHARE APPLICANT COMPANIES WERE INDULGED IN MONEY LAUNDERI NG ACTIVITIES; (V) BALANCE SHEET OF SOME SHARE APPLICANT COMPANIES WER E NOT AVAILABLE; (VI) IN THE BANK ACCOUNTS OF THE SHARE APPLICANT CO MPANIES CALLED UNDER S.133(6) OF THE ACT, TRANSFER OF HUGE AMOUNT IN OTH ER ACCOUNTS THROUGH CHEQUES WERE FOUND AND IN SOME CASES, CASH DEPOSITS WERE MADE IN THE ACCOUNT OF THIRD PARTIES FROM WHOM CHEQUES WERE TAKEN; (VII) THE COPIES OF MEMORANDUM & ARTICLES OF ASSOCIATION, CER TIFICATE OF INCORPORATION, BOARD RESOLUTION OF THE SHARE APPLIC ANT COMPANIES WERE FOUND IN THE PREMISES OF THE GROUP; (VIII) MOST OF THE NOTICES ISSUED UNDER S.133(6) RETURNED UNSERVED; AND (IX) THE SHAR ES WERE ULTIMATELY BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 7 REPURCHASED FROM THE SHARE APPLICANT COMPANIES BY T HIRD PARTIES/ GROUP ASSESSEES AT THE NOMINAL PRICE. 12. MATTER CARRIED TO LEARNED CIT(A), WHO HAS DEALT WITH THE ISSUE AT PARA 2.4.1, PAGE NO. 8 OF THE ORDER. THE CIT(A), A T PARA 2.4.1, HAS GIVEN A TABLE SHOWING VARIOUS GROUNDS RAISED BY THE ASSES SEE, THE ISSUE INVOLVED AND THE APPEAL OF THE ASSESSEE/GROUP ASSES SEE WHERE THE SUBJECT ISSUE HAS BEEN DISCUSSED BY HIM. ACCORDINGL Y, THE CIT(A) DISMISSED THE LEGAL GROUND RAISED BY THE ASSESSEE F OLLOWING HIS OWN FINDINGS GIVEN IN THE CASE OF M/S. BHATIA INTERNATI ONAL LTD. FOR THE A.Y. 2002-03 IN APPEAL NO. IT-262/09-10. 13. THE LD. AR FOR THE ASSESSEE HAS MADE ORAL AS WE LL AS WRITTEN SUBMISSION AS UNDER: IT IS SUBMITTED THAT FOR THIS GROUND, A DETAILED SUBMISSION HAS BEEN MADE IN THE CASE OF APPEAL OF ONE OTHER GROUP ASSESSEE NAME LY OF M/S. BHATIA INTERNATIONAL LTD. IN APPEAL NO. IT(SS)A-104/IND/20 11 FOR A.Y. 2002-03 PENDING FOR ADJUDICATION BEFORE THIS HONBLE BENCH. SINCE, WHILE ADJUDICATING THE GROUND OF APPEAL RAISED BEFORE THE CIT(A), THE CIT(A) HAS RELIED UPON HIS OWN FINDINGS GIVEN IN THE AFORESAID CASE OF M/S. BH ATIA INTERNATIONAL LTD., OUR SUBMISSIONS MADE BEFORE THIS HONBLE BENCH IN THE C ASE OF M/S. BHATIA INTERNATIONAL LTD. MAY KINDLY BE TAKEN INTO CONSIDE RATION. RELEVANT DOCUMENTS FILED IN THE PAPER BOOK ON WHICH THE ASSESSEE IS PLACING RELIANCE FOR THESE GROUNDS PAGE NO. NATURE OF DOCUMENT FILED FOR THE PURPOSE OF FROM TO 36 36 LIST OF SHARE APPLICANT COMPANIES GIVING THE DETAILS OF SHARE APPLICANT COMPANIES 135 963 SHARE APPLICATION FORMS, MOA/AOA, INCORPORATION CERTIFICATE, BOARD RESOLUTION, AUDITED FINANCIAL STATEMENTS, ITR, BANK CERTIFICATE REGARDING VERIFICATION OF SIGNATURE OF DIRECTOR OF SHARE APPLICANTS, CONFIRMATION LETTERS, MASTER DATA OF SHARE ESTABLISHING IDENTITY AND CREDITWORTHINESS OF SHARE APPLICANTS ALONG WITH GENUINENESS OF THE TRANSACTIONS BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 8 APPLICANTS DOWNLOADED FROM OFFICIAL WEBSITE OF MCA, LIST OF DIRECTORS, PAN, TAN, BANK STATEMENTS, CERTIFICATE OF REGISTRATION GRANTED BY RBI FOR NBFC 14. LD. DRS RELIED ON THE ORDERS OF THE REVENUE AUT HORITIES AND SUBMITTED THAT SUBMISSIONS MADE IN THE CASE OF M/S. BHATIA INTERNATIONAL LTD. MAY KINDLY BE TAKEN INTO CONSIDERATION IN THE PRESENT CASE TOO. 15. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS OF BOT H THE PARTIES AND GONE THROUGH THE MATERIAL AVAILABLE ON THE FILE. WE FIND THAT WHILE ADJUDICATING THE SAME ISSUE IN CASE OF ANOTHER GROU P ASSESSEE NAMELY, M/S. BHATIA INTERNATIONAL LTD. IN APPEAL NO. IT(SS) A NO.104/IND/2011 FOR A.Y. 2002-03, WE HAVE HELD THAT THE ASSESSEE COULD BE ABLE TO DISCHARGE THE BURDEN OF PROVING THE CASH CREDIT AS CONTEMPLATED U/S 68 OF THE ACT AND HAVE DIRECTED TO DELETE THE ENTIRE A DDITION MADE BY THE ASSESSING OFFICER ON ACCOUNT OF SHARE CAPITAL/SHARE PREMIUM/ SHARE APPLICATION MONEY. WE FIND THAT THE FACTS AND CIRCU MSTANCES OF THE PRESENT APPEALS OF THE ASSESSEE ARE THE SAME WITH T HAT OF THE APPEAL FOR ASSESSMENT YEAR 2002-03 (SUPRA). THE ARGUMENT OF BO TH THE PARTIES ARE ALSO THE SAME AND THEREFORE, FOLLOWING OUR OWN FIND ING GIVEN IN THE CASE OF ANOTHER GROUP ASSESSEE FOR THE ASSESSMENT YEAR 2 002-03 (SUPRA), WE DIRECT TO DELETE THE ADDITIONS OF RS.4,92,00,000/- & RS.4,15,50,000/- MADE BY THE ASSESSING OFFICER ON ACCOUNT OF SHARE C APITAL/SHARE PREMIUM/ SHARE APPLICATION MONEY AND ALLOW THE GROU ND NO.3 OF THE PRESENT APPEALS OF THE ASSESSEE. GROUND NO. 4 16. THIS GROUND OF APPEALS TAKEN IN THE APPEALS OF BOTH THE PRESENT ASSESSEE IS DIRECTED AGAINST CHARGING OF INTEREST U NDER S. 234A AND BHATIA COAL TRADING AND CONSIGNMENT (SS)110 AND 111 OF 2011 9 234B. THIS GROUND IS CONSEQUENTIAL IN NATURE, THERE FORE, DOES NOT REQUIRE ANY SEPARATE ADJUDICATION. 17. IN THE RESULT, THE APPEAL OF THE ASSESSEE PARTL Y ALLOWED. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 18.5.20 16. SD/- (B.C. MEENA) ACCOUNTANT MEMBER SD/- ( D.T. GARASIA) JUDICIAL MEMBER DATED : 17.8.2016 COPY TO: ASSESSEE/RESPONDENT/CIT(A)/CIT/DR, INDORE