M/s. Orisons Minerals & Properties, Bhubaneswar V. DCIT, Central Circle-1, Bhubaneswar

ITSSA 35/CTK/2017

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 3748 (ITAT-CUTTACK)
• Duration Of Justice: 1 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 17-05-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 10-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASIT KUMAR MOHAPATRA
• Assessee Lawyers: MANOJ KUMAR PATRA
• Keywords: Search and seizure
• Section: 68

Judgement Text

1 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER IT (SS) A NO S . 3 5, 50 & 36 /CTK/201 7 ASSESSMENT YEAR S : 2011 - 12, 2012 - 13 & 2013 - 14 ORISON MINERALS & PROPERTIES, PLOT NO. - MIG - 19, STAGE - II , LAXMISAGAR,BHUBANESWAR. VS. DCIT, CENTRAL CIRCLE - 1, BHUBANESWAR. PAN/GIR NO. AABFO 6559 P (APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY : SHRI MANOJ KUMAR PATRA, AR REVENUE BY : SHRI ASIT KUMAR MOHAPATRA, CIT DR DATE OF HEARING : 0 8 / 0 5 / 201 8 DATE OF PRONOUNCEMENT : 17 / 0 5 / 201 8 O R D E R PER N.S.SAINI, AM TH ESE ARE APPEAL S FILED BY THE ASSESSEE AGAINST SEPARATE ORDER S OF THE CIT(A) - 3, BHUBANESWAR ALL DATED 7 TH JUNE, 2016 FOR THE ASSESSMENT YEAR S 20 11 - 2012 TO 2013 - 14 RESPECTIVELY. 2. THE COMMON GROUND INVOLVED IN ALL THESE APPEALS IS THAT THE ADDITION MADE ON ESTIMATE BASIS AS BOGUS EXPENDITURE AMOUNTING TO RS. 26,42,592/ - FOR THE ASSESSMENT YEAR 20 11 - 12, RS.28,82,420/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.51,66,815/ - FOR THE ASSESSMENT YEAR 2013 - 14 IS BAD IN LAW AS THE EXPENDITURE WAS ENTIRELY INCURRED TOWARDS TRANSPORTATION CHARGES OF THE BUSINESS OF THE ASSESSEE FIRM AND THE RELEVANT BILLS AND DOCUMENTS WERE AVAILABLE WITH THE ASSESSEE FIRM. 2 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSING OFFICER OBSERVED THAT THE ASSESSEE HAS DEBITED RS.2,64,25,918/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS. 2,88,24,201 / - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS. 5,16,68,147 / - FOR THE ASSESSMENT YEAR 2013 - 14 TOWA RDS TRANSPORTATION CHARGES. A SEARCH AND SEIZURE OPERATION U/S.132 OF THE I.T.ACT WAS CONDUC T ED IN THE OFFICE PREMISES AND RESIDENTIAL PREMISES OF THE ORISON GROUP OF COMPANIES ON 11.4.2012. DURING THE COURSE OF SEARCH OPERATION, INCRIMINATING DOCUMENTS, BOOKS OF ACCOUNT, WERE FOUND AND SEIZED BELONGS TO THE ASSESSEE. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, T HE ASSESSEE WAS ASKED TO PRODUCE THE SUPPORTING DOCUMENTS FOR SUCH EXPENSES. HOWEVER, THE ASSESSEE HAS PRODUCED ONLY LEDGER COPY BUT NO BILLS A ND VOUCHERS WERE PRODUCED. IN THE CIRCUMSTANCES, THE AUTHENTICITY OF SUCH EXPENSES IS NOT ASCERTAINED . ALSO, THE SAME WAS PRODUCED QUITE LATE I.E. ON 19.3.2015. SINCE, IT WAS A TIME BARRING CASE, IT WAS NOT POSSIBLE TO GIVE FURTHER OPPORTUNITY AT THIS S TAGE. THEREFORE, THE ASSESSING OFFICER WAS COMPELLED TO DISALLOW 10% OF SUCH EXPENSES OF RS.26,42,592/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.28,82,420/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.51,66,815/ - FOR THE ASSESSMENT YEAR 2013 - 14. 4. ON APPEAL, THE CIT(A) UPHELD THE ACTION OF THE ASSESSING OFFICER BY OBSERVING THAT THE TRIP WISE TRANSPORTATION DETAILS OF EACH TRANSPORTER WITH CONSIGNMENT NOTES AND LORRY CHALLAN FOR EACH LORRY USED FOR TRANSPORTATION, TRANSIT PASS ISSUED BY DEPUTY DIRECTOR OF MINES, VOUCHES OF OTHER EXPENSES, LORRY HIRE CONTRACT, WERE NEITHER KEPT NOR FOUND IN 3 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 COURSE OF SEARCH OR THESE WERE NOT PRODUCED FOR VERIFICATION IN ANY PROCEEDINGS UNDER THE ACT. THE QUANTITATIVE DETAILS AVAILABLE FROM TRANSPORTATION BILLS DIFFER FROM QUANTITATIVE DETAILS OF PURCHASES GIVEN IN THE AUDIT REPORT. DEDUCTION OF TAX AT SOURCE ON PAYMENT OF TRANSPORTATION CHARGES THOUGH CLAIMED TDS STATEMENTS WERE NOT FURNISHED . IN THE GIVEN FACTS AND CIRCUMSTANCES OF THE CASE, THE CIT(A) HELD THAT THE CORREC TNESS OF THE TRANSPORTATION CHARGES DEBITED TO THE P &. L A/C. COULD NOT BE FULLY VERIFIED FROM THE DOCUMENTS ADDUCED BY THE LD. A.R. AND HENCE, CONFIRMED THE DISALLOWANCE OF 10% OF THE TRANSPO RTATION CHARGES. 5. WE HAVE HEARD THE RIVAL SUBMISSIONS, PERUSE D THE ORDERS OF LOWER AUTHORITIES AND MATERIALS AVAILABLE ON RECORD . THE ASSESSING OFFICER OBSERVED THAT THE ASSESSEE HAS CLAIMED RS.2,64,25,918/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.2,88,24,201/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.5,16,68,147/ - FOR THE ASSESSMENT YEAR 2013 - 14 TOWARDS TRANSPORTATION CHARGES. ACCORD ING TO HIM, THOUGH THE ASSESSEE HAS FURNISHED THE LEDGER COPIES OF TRANSPORTATION EXPENSES BUT HAS NOT PRODUCED THE SUPPORTING VOUCHERS. HE, THEREFORE, ESTIMATED 10% OF THE EXPENSES AMOUNTING TO RS. RS.26,42,592/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.28, 82,420/ FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.51,66,815/ - FOR THE ASSESSMENT YEAR 2013 - 14. 6. ON APPEAL, THE CIT(A) OBSERVED FROM THE PROFIT AND LOSS ACCOUNT OF THE ASSESSEE THAT THE ASSESSEE HAS SHOWN RS.2,68,04,010/ - IN ASSESSMENT YEAR 2011 - 12, RS.1,62, 22,680/ - IN ASSESSMENT YEAR 2012 - 13 4 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 AND RS.6,40,39,472/ - IN ASSESSMENT YEAR 2013 - 14 UNDER THE HEAD TRANSPORTATION CHARGES. AS AGAINST THE SA ME , THE ASSESSEE HAS DEBITED RS.2,64,25,918/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.2,88,24,201/ - FOR THE ASSESSMEN T YEAR 2012 - 13 AND RS.5,16,68,147/ - FOR THE ASSESSMENT YEAR 2013 - 14, RESPECTIVELY AS TRANSPORTATION EXPENSES. FROM THE SAME, THE ASSESSING OFFICER INFERRED THAT THE ASSESSEE , BESIDES TRADING IN IRON ORE S, ALSO INVOLVED IN TRANSPORTING BUSINESS AND THE PR OFIT SHOWN FROM THAT BUSINESS IS MERELY 10% OF THE TURNOVER. 7. THE CIT(A) ALSO OBSERVED THAT SUPPORTING VOUCHERS WHICH WERE PRODUCED BEFORE HIM WERE CONSOLIDATED VOUCHERS OF PURCHASE AND TRANSPORTATION. HE INFERRED FROM THE SAME THAT THESE TRANSPORTATION EXPENSES WERE ALREADY INCLUDED FOR THE PURCHASE OF RS.1,81,46,589/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.45,12,708/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.5,36,39,413/ - FOR THE ASSESSMENT YEAR 2013 - 14 DEBITED BY THE ASSESSEE IN THE PROFIT AND LOSS ACCOUNT . IN VIEW THEREOF, HE CONFIRMED THE ACTION OF THE ASSESSING OFFICER IN DISALLOWING RS. RS.26,42,592/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.28,82,420/ FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.51,66,815/ - FOR THE ASSESSMENT YEAR 2013 - 14. 8. BEFORE US, LD AUTH ORITIES REPRESENTATIVE OF HE ASSESSEE SUBMITTED THAT THE ASSESSEE WAS NOT ENGAGED IN SEPARATE TRANSPORTATION BUSINESS. THE RECEIPT OF TRANSPORTATION CHARGES OF RS.2,64,25,918/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.2,88,24,201/ - FOR THE ASSESSMENT YEAR 5 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 201 2 - 13 AND RS.5,16,68,147/ - FOR THE ASSESSMENT YEAR 2013 - 14 WERE RE ALISED FROM THE PERSONS TO WHOM THE GOODS WERE SOLD BY THE ASSESSEE AND AS THE AMOUNTS WERE CHARGED SEPARATELY IN THE SALES BILLS, THEREFORE, SAME WAS SEPARATELY DISCLOSED IN THE PROFIT AND LOSS ACCOUNT. 9. SIMILARLY, THE TRANSPORTING EXPENSES PAID FOR PURCHASES WERE SEPARATELY DEBITED IN THE PROFIT AND LOSS ACCOUNT. THE CIT(A) WAS NOT ABLE TO PROPERLY APPRECIATE THE FACTS OF THE CASE AND ERRONEOUSLY PRESUMED THAT THE ASSESSEE WAS ENGAGED SEPARATELY IN ANY TRANSPORTING BUSINESS. THE TRANSPORTING EXPENSES INCURRED WAS ONLY RECEIPTS FROM THE PERSONS TO WHOM THE SALES WERE MADE BUT SLIGHT EXCESS AMOUNTS WERE RECEIVED. 10. THE ASSESSEE FILED BEFORE US COPY OF LEDGER ACCOUNT OF M/S. ORISONS OVE RSEAS PVT LTD. AND COPY OF LEDGER ACCOUNT OF TRANSPORTATION INCOME FOR THE ASSESSMENT YEAR 2011 - 12. SIMILARLY, THE ASSESSEE FILED BEFORE US LEDGER COPY OF PURCHASE ACCOUNT, PURCHASE @ 4% AND TRANSPORTATION INCOME FOR THE ASSESSMENT YEAR 2012 - 13. SIMILARL Y, THE ASSESSEE FIELD BEFORE US COPY OF LEDGER ACCOUNT OF MILLION MINERALS TRADING COMPANY, LG MINERALS AND TRANSPORTATION INCOME FOR THE ASSESSMENT YEAR 2013 - 14. 11. A PERUSAL OF THE SAID LEDGER ACCOUNTS SHOWS THAT THE ENTIRE TRANSPORTATION INCOME OF RS.2 ,64,25,918/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.2,88,24,201/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.5,16,68,147/ - FOR THE ASSESSMENT YEAR 2013 - 14 WAS RE ALISED FROM 6 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 ORISONS OVERSEAS PVT LTD., TO WHOM GOODS WERE SOLD BY THE ASSESSEE DURING THE RESPECTIVE AS SESSMENT YEARS. 12. FURTHER PAGE NOS.12 TO 19 OF PAPER BOOK FOR THE ASSESSMENT YEAR 2011 - 12 CONTAINS LEDGER ACCOUNT OF LG MINERALS, LEDGER ACCOUNT OF SAI INTERNATIONALS, BILLS AND INVOICES RAISED BY THE SAID TWO PARTIES AND LEDGER ACCOUNT OF TRANSPORTATION CHARGES. 13. F OR THE ASSESSMENT YEAR 2012 - 13, AT PAGE NOS.20 - 26, THE ASSESSEE HAS FILED BEFORE US LEDGER ACCOUNT OF M/S. MAA TARINI TRANSPORT ENTERPRISES PVT LTD., AND TARINI ALLOYS PVT LTD., BILLS AND INVOICES RAISED BY THE SAID TWO PARTIES AND LEDGER AC COUNT OF TRANSPORTATION CHARGES PAID. 14. F OR THE ASSESSMENT YEAR 2013 - 14, AT PAGES 13 TO 37 OF PB, THE ASSESSEE HAS FILED BEFORE US LEDGER ACCOUNT OF MILLION S MINERALS TRADING COMPANY, LG MINERALS , BILLS AND INVOICES RAISED BY THE SAID TWO PARTIES AND LEDGER ACCOUNT OF TRANSPORTATION CHARGES PAID . 15. A PERUSAL OF THESE DOCUMENTS SHOW THAT THE ENTRIES OF TRANSPORTATION EXPENSES OF RS.2,64,25,918/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.2,88,24,201/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.5,16,68,147/ - FOR THE ASSESSMENT YEAR 2013 - 14 WERE PAID TO THE PARTIES FROM WHOM THE GOODS WERE PURCHASED BY THE ASSESSEE DURING THE RESPECTIVE YEARS. THUS, WE FIND THAT THE ASSESSEE WAS NOT ENGAGED IN ANY SEPARATE TRANSPORTATION BUSINESS AND RECEIPTS OF EXPENSES OF THE TRANSPORTATION CHARGES SHOWN IN THE P&L ACCOUNT RELATING TO PURCHASES AND SALES MADE BY THE ASSESSEE. FURTHER, WE FIND THAT THE ENTRIES OF 7 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 TRANSPORTING EXPENSES WERE PAID TO THE PARTIES NAMELY LG MIN ERALS, SAI INTERNATIONALS, MILLIONS MINERAL TRADING COMPANY AND SAME ARE SUPPORTED BY BILLS RAISED BY THEM. 16. IN VIEW OF ABOVE, IN OUR CONSIDERED OPINION, THE ADHOC DISALLOWANCE OF RS.26,42,592/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.28,82,420/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.51,66,815/ - FOR THE ASSESSMENT YEAR 2013 - 14 OUT OF TRANSPORTATION EXPENSES IS UNSUSTAINABLE. WE, THEREFORE, DELETE THE ADDITION OF RS.26,42,592/ - FOR THE ASSESSMENT YEAR 2011 - 12, RS.28,82,420/ - FOR THE ASSESSMENT YEAR 2012 - 13 AND RS.51,66,815/ - FOR THE ASSESSMENT YEAR 2013 - 14 AND ALLOW GROUND OF APPEAL OF THE ASSESSEE. 17. THE ONLY OTHER GROUND TAKEN BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2012 - 13 IS THAT THE CIT(A) ERRED IN RESTRICTING ADDITION MADE TOWARDS BOGUS SUNDRY CREDITORS OF R S.16,80,628/ - ON THE GROUND THAT DETAILS OF SUNDRY CREDITORS ARE NOT SUBJECT TO VERIFICATION. 18. THE BRIEF FACTS OF THE CASE ARE THAT DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE ASSESSING OFFICER ASKED THE ASSESSEE TO PRODUCE FULL ADDRESS, PAN AND CONFIRMATION FROM THE CREDITORS TOWARDS OUTSTANDING BALANCE OF RS.1,52,25,569/ - . THE ASSESSEE PRODUCED COPY OF SUNDRY CREDITORS BUT FAILED TO PRODUCE CONFIRMATION LETTE RS FROM THE SUNDRY CREDITORS IN TIME. THE CONFIRMATION LETTERS WERE PRODUCED ONLY ON 19.3.2015 AND, THEREFORE, IT WAS NOT POSSIBLE FOR THE ASSESSING OFFICER TO MAKE FURTHER ENQUIRIES FROM THE SUNDRY CREDITORS DUE TO SHORTAGE OF TIME. 8 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 SINCE THE AUTHENTICI TY OF SUCH CLAIM WAS NOT ESTABLISHED, THE ASSESSING OFFICER ASSESSED THE SAME AS INCOME OF THE ASSESSEE. 19. ON APPEAL, THE CIT(A) CALLED FOR A REMAND REPORT FROM THE ASSESSING OFFICER VIDE F.NO. CIT(A) - 3/BBSR/REMAND REPORT/2016 - 17/5111 DT.6.3.2017. THE A SSESSING OFFICER FILED THE REMAND REPORT ON 6.3.2017. 20. THE CIT(A) AFTER CONSIDERING THE REMAND REPORT OBSERVED THAT OUTSTANDING OF RS.9,37,500/ - FROM S.R. MINERALS & PROPERTIES PVT LTD. , RS.5,07,028/ - FROM JYOTIRMAYEE TRANSPORT, RS.17,732/ - FROM INSPE CTORATE GRIFTH INDIA (P) LTD., AND RS.2,18,368/ - FROM ASHIRWAD STEEL WAS NOT SUBJECT TO VERIFICATION AND THAT THE ASSESSEE HAD CLAIMED EXCESS LIABILITY OF RS.54,007/ - IN THE CASE OF TCR CORPORATION AND, ACCORDINGLY, HELD THAT TOTAL SUNDRY CREDITORS OUTSTA NDING OF RS.16,80,628/ - WAS NOT SUBJECT TO VERIFICATION. THEREFORE, HE SUSTAINED ADDITION OF RS.16,80,628/ - AND DELETED THE BALANCE AMOUNT OF RS.1,35,44,941/ - MADE BY THE ASSESSING OFFICER. 2 1 . BEFORE US, LD A.R. FILE COPY OF CONFIRMATION OF SUNDRY CREDITORS PLACED AT PAGES 16 - 19 OF PAPER BOOK BEFORE US AND POINTED THEREFROM THAT RS.9,37,500/ - SHOWN IN THE NAME OF S.R. MINERALS AND PROPERTIES PVT LTD., AND RS.5,07,028/ - SHOWN IN THE NAME OF JYOTIRMAYEE TRANSP ORT WERE OPENING BALANCE BROUGHT FORWARD FROM EARLIER YEARS AND SUBMITTED THAT U/S.68 OF THE ACT, ONLY THE CREDITS FOUND IN THE BOOKS OF AN ASSESSEE DURING THE RELEVANT PREVIOUS YEAR CAN BE SUBJECTED TO ADDITION TO THE INCOME OF THE ASSESSEE IF THE ASSESS EE FAILS TO OFFER ANY EXPLANATION 9 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 ABOUT THE NATURE AND SOURCE THERE OF OR THE EXPLANATION OFFERED BY HIM IS NOT SATISFACTORY IN THE OPINION OF A SSESSING OFFICER. THEREFORE, HE PRAYED THAT THE ADDITION OF RS.9,37,500/ - AND RS.5,07,028/ - BEING OPENING BALAN CE BROUGHT FORWARD FROM EARLIER YEAR SHOULD BE DELETED. HE AGREED THAT AS THE ASSESSEE FAILED TO FILE CONFIRMATION WITH RESPECT TO OTHER ADDITIONS, SAME MAY BE CONFIRMED. 2 2 . LD D.R. ON THE OTHER HAND, RELIED ON THE ORDER OF THE CIT(A). 2 3 . WE HAVE HEARD THE RIVAL SUBMISSIONS, PERUSED THE ORDERS OF LOWER AUTHORITIES AND MATERIALS AVAILABLE ON RECORD . WE FIND THAT ADDITION OF RS.16,80,628/ - WAS CONFIRMED BY THE CIT(A) ON ACCOUNT OF SUNDRY CREDITORS AS THE SAME WERE NOT SUBJECTED TO VERIFICATION. THE ASSES SEE HAS PLEADED BEFORE US THAT ADDITION U/S.68 OF THE ACT CAN BE MADE ONLY FOR THOSE AMOUNTS WHICH ARE RECEIVED BY THE ASSESSEE DURING THE RELEVANT PREVIOUS YEAR AND THE ASSESSEE FAILS TO EXPLAIN THE SOURCE OF THE SAME OR EXPLANATION OF THE ASSESSEE IS NOT SATISFACTORY. LD A.R. OF THE ASSESSEE BY FILING CONFIRMATIONS FROM S.R. MINERALS AND PROPERTIES PVT LTD., AND JOTIRMAYEE TRANSPORT CLAIMED THAT AMOUNT OF RS.9,37,500/ - AND RS.5,07,028/ - ARE OPENING BALANCE BROUGHT FORWARD FROM EARLIER YEAR, THEREFORE , NO ADDITION FOR THE SAME CAN BE MADE DURING THE YEAR UNDER CONSIDERATION. 2 4 . LD D.R. COULD NOT CONTROVERT THE ABOVE CONTENTION OF LD A.R. OF THE ASSESSEE. 10 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 2 5 . THUS, THE CONFIRMATIONS FROM S.R. MINERALS AND PROPERTIES PVT LTD., AND JYOTIRMAYEE TRANSPORT FILED BEFORE US SHOWS THAT THE AMOUNT OF RS.9,37,500/ - AND RS.5,07,028/ - ARE THE OPENING BALANCE FORWARD FROM THE EARLIER YEAR. UNDER SECTION 68 OF THE I.T.ACT, 1961, ADDITION FOR THOSE CREDITS CAN BE MADE IN THE HANDS OF THE ASSESSEE, WHICH A RE RECEIVED IN THE PREVIOUS YEAR RELEVANT TO ASSESSMENT YEAR. IT IS NOT IN DISPUTE THAT THE ABOVE TWO AMOUNTS OF RS.9,37,500/ - AND RS.5,07,028/ - ARE THE OPENING BROUGHT FORWARD BALANCE OF EARLIER YEAR. WE, THEREFORE, SET ASIDE THE ORDERS OF LOWER AUTHORI TIES AND DELETE THE ADDITION OF RS.9,37,500/ - AND RS.5,07,028/ - AND ALLOW THIS PART OF GROUND OF THE ASSESSEE. 2 6 . WITH REGARD TO BALANCE AMOUNT OF ADDITION OF RS.2,36,100/ - , LD A.R. VERY FAIRLY CONCEDED THAT HE IS NOT ABLE TO FILE ANY DOCUMENTS AND SAME MAY BE CONFIRMED. THEREFORE, WE CONFIRM THE ADDITION OF RS.2,36,100/ - AND PARTLY ALLOW THIS GROUND OF APPEAL OF THE ASSESSEE. 27. IN THE RESULT, APPEALS FOR THE ASSESSMENT YEARS 2011 - 12 & 2013 - 14 ARE ALLOWED AND APPEAL FOR THE ASSESSMENT YEAR 2012 - 13 IS PARTLY ALLOWED. ORDER PRONOUNCED ON 17 / 0 5 /201 8 . SD/ - SD/ - ( PAVAN KUMAR GADALE) ( N.S SAINI) JUDICIALMEMBER A CCOUNTANT MEMBER CUTTACK; DATED 17 / 0 5 /201 8 B.K.PARIDA, SPS 11 IT(SS)A NOS. 35,50 & 36 /CTK/2017 ASSESSMENT YEARS : 2011 - 12,12 - 13 & 13 - 14 COPY OF THE ORDER FORWARDED TO : BY ORDER, SR.PRIVATE SECRETARY ITAT, CUTTACK 1. THE APPELLANT : ORISON MINERALS & PROPERTIES, PLOTNO. - MIG - 19,STAGE - II, LAXMISAGAR,BHUBANESWAR 2. THE RESPONDENT. DCIT, CENTRAL CIRCLE - 1, BHUBANESWAR 3. THE CIT(A) - 3, BHUBANESWAR 4. PR.CIT - 3, BHUBANESWAR 5. DR, ITAT, CUTTACK 6. GUARD FILE. //TRUE COPY//