INCOME TAX OFFICER, JANJGIR CHAMPA vs. SHRI PRITAM SINGH GABEL, SAKTI

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ITA 272/RPR/2017Status: DisposedITAT Raipur30 March 2022AY 2008-097 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, agreeing that the difference was not in the nature of income but was an incentive/encouragement to increase turnover, which was later reversed. Therefore, the addition was not valid.

What were the facts?

The revenue appealed against the deletion of an addition made by the AO on account of a difference in liability against a creditor, International Tractors Ltd. The AO had added Rs. 4,77,755/- as the difference between the creditor's balance in the assessee's books and the creditor's ledger account.

What were the issues?

Whether the difference in the creditor's balance, arising from debit notes for interest on sales targets, constituted income taxable in the hands of the assessee.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RAIPUR BENCH, RAIPUR

Before: SHRI RAVISH SOOD & SHRI JAMLAPPA D BATTULL

For Appellant: Shri G.S. Agarwal, AR
For Respondent: Shri Sanjay Kumar, DR
Hearing: 14.03.2022Pronounced: 30.03.2022

आदेश क� ��त�ल�प अ�े�षत / Copy of the Order forwarded to :

1. 1. अपीलाथ� / The Appellant. 2. ��यथ� / The Respondent.

3. The CIT(Appeal), Bilaspur (C.G) 4. The Pr. CIT, Bilaspur (C.G) 5.�वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण,रायपुरब�च, रायपुर / DR, ITAT, Raipur Bench, Raipur. गाड� फ़ाइल / Guard File. 6. आदेशानुसार / BY ORDER, // True Copy // �नजी स�चव / Private Secretary आयकर अपील�य अ�धकरण, रायपुर / ITAT, Raipur.

7 ITO Vs. Shri Pritam Singh Gabel

Date 1 Draft dictated on 23.03.2022 Sr.PS/PS 2 Draft placed before author 24.03.2022 Sr.PS/PS 3 Draft proposed and placed JM/AM before the second Member 4 Draft discussed/approved by AM/JM second Member 5 Approved draft comes to the Sr.PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr.PS/PS 7 Date of uploading of order Sr.PS/PS 8 File sent to Bench Clerk Sr.PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R 11 Date of dispatch of order

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