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Income Tax Appellate Tribunal, JAIPUR BENCHES (SMC
Before: SHRI BHAGCHANDvk;dj vihy la-@ITA No. 725/JP/2017
आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES (SMC), JAIPUR Jh Hkkxpan] ys[kk lnL;] ds le{k BEFORE: SHRI BHAGCHAND, ACCOUNTANT MEMBER vk;dj vihy la-@ITA No. 725/JP/2017 fu/kZkj.k o"kZ@Assessment Year : 2012-13 cuke Sita Ram Sharma, Income Tax Officer, Vs. Prop.- M/s Sharma & Company, Ward-3(2), Somani Building, Station Road, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AFEPS 5403 G vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri K.L. Moolchandani (CA) jktLo dh vksj ls@ Revenue by : Shri Rajendra Jha (Addl.CIT) lquokbZ dh rkjh[k@ Date of Hearing : 05/01/2018 mn?kks"k.kk dh rkjh[k@ Date of Pronouncement : 08/01/2018 vkns'k@ ORDER
PER: BHAGCHAND, A.M.
This is an appeal filed by the assessee emanates from the order of the ld. CIT(A)-I, Jaipur dated 19/07/2017 for the A.Y. 2012-13,
wherein the assessee has taken following grounds of appeal: “1. On the facts and in the circumstances of the case the learned CIT(A) has factually and legally erred in not admitting the additional evidences under Rule 46A of the I.T. Rules, 1962. This is contrary to the principles of ‘Equity’ and ‘Natural Justice’ as these details and evidences go to the root of the point.
ITA 725/JP/2017_ 2 Sita Ram Sharma Vs ITO
On the facts and in the circumstances of the case the learned CIT(A) has factually and legally erred in exercising the co- terminus powers to invoke provisions of section 68 of the Act for making addition on account of the ‘Outstanding Debtors’. As per Accountancy Rules, no valid addition can be made u/s 68 of the Act on account of the ‘undisputed outstanding debtors’.
On the facts and in the circumstances, the Authorities Below have erred in making addition of Rs.3,19,380/- without appreciating the facts of the case in right perspective. The addition so made is factually and legally incorrect and same deserves to be deleted summarily.
At the outset of hearing, the ld AR has submitted that the
assessee submitted additional evidences before the ld. CIT(A) as per
Rule 46A of the Income Tax Rules, 1962 (in short the Rules) but the
same has not been considered by him. He submitted that in the interest
of justice and equity, the additional evidences submitted by the
assessee may be admitted and matter may be restored back to the file
of the Assessing Officer as the factual verification with regard to the
sales made by the assessee to the M/s Vijay Laxmi Agro and the
payments received in response to that needs verification. Ld. A.R.
submitted that the ledger account of M/s Vijay laxmi Agro clearly
establishes that the assessee has sold agricultural implements and has
received the amount back in various installments, which has been duly
reflected in the cash book of the assessee as well as the ledger account
ITA 725/JP/2017_ 3 Sita Ram Sharma Vs ITO of M/s Vijay Laxmi Agro. Therefore, on the merits also, this addition
deserves to be deleted.
On the other hand, the ld Sr.DR has relied on the orders of the
authorities below.
After hearing both the sides and considering the factual position
of the issue, the Bench is of the views that in the interest of justice and
equity, the matter needs a relook at the level of the Assessing Officer
particularly when the assessee has sold the goods to M/s Vijay Laxmi
Agro and the payments has been denied in respect of these sales.
Hence, the matter is restored back to the file of the Assessing Officer.
In the result, the appeal of the assessee is allowed for statistical
purposes only.
Order pronounced in the open court on 08/01/2018.
Sd/- ¼Hkkxpan½ (BHAGCHAND) ys[kk lnL;@Accountant Member
Tk;iqj@Jaipur fnukad@Dated:- 08th January, 2018
*Ranjan आदेश की प्रतिलिपि अग्रेf’ात@ब्वचल वf जीम वतकमत वितूंतकमक जवरू vihykFkhZ@The Appellant- Shri Sita Ram Sharma, Jaipur. 1.
ITA 725/JP/2017_ 4 Sita Ram Sharma Vs ITO izR;FkhZ@ The Respondent- The ITO, Ward-3(2), Jaipur. 2. vk;dj vk;qDr@ CIT 3. vk;dj vk;qDr¼vihy½@The CIT(A) 4. विभागीय प्रतिनिधि] आयकर अपीलीय अधिकरण] जयपुर@क्त्ए प्ज्Aज्ए Jंपचनत 5. xkMZ QkbZy@ Guard File (ITA No. 725/JP/2017) 6. vkns'kkuqlkj@ By order,
सहायक पंजीकार@Aेेज. त्महपेजतंत