Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (5) TMI 504 - AT - Income TaxDisallowance under section 43B - late deposit of employees contribution to the Provident Fund for Factory and Federation Staff - CIT(A) deleted the addition - Held that:- The Tribunal in assessee’s own case for assessment year 2007-08 was regarding deletion of addition by the Assessing Officer on account of late deposit of employees’ contribution to Provident Fund and it was held by the Tribunal in that year that since the entire amount of Provident Fund contribution was deposited before due date of filing of return, the same is allowable as per the amended provisions of section 43B of the Act. In the present year also, a clear finding is given by CIT(A) on page No. 4 of his order that all the amounts of Provident Fund has been deposited before the due date of filing the return.- Decided against revenue. Suppression of production of sugar and its sale without recording entry in the books of accounts - CIT(A) deleted the addition - Held that:- Assessing Officer has adopted yield at 9% as against 8.37% reported by the assessee. The Assessing Officer has alleged in the assessment order that Kisan Sahkari Chini Mills, Puranpur has reported yield at 9.38% in the year under consideration as against 8.37% reported by the assessee. Hence, it is seen that the facts of the present year are identical to the facts in assessment year 2007-08. Since under similar facts, the addition was deleted by the Tribunal in assessment year 2007-08, we do not find any reason to take a contrary view in the present year and therefore, on this issue also, we decline to interfere in the order of CIT(A). - Decided against revenue. Undisclosed Production of Baggasse and its sale without accounting for in the books of account - CIT(A) deleted the addition - Held that:- The yield of main product or by-product is not constant in each and every case and every year. It is dependable on so many factors and therefore, merely on this basis that in the case of one assessee in one particular year, higher yield was recorded and that should be considered as yield of baggasse for all the assessees in all the years, is not correct. There is no other reason given by the Assessing Officer for doubting the yield of baggasse reported by the assessee in the Tax Audit Report. In our considered opinion, on the basis of a single case of a different assessee for one assessment order i.e. 92-93, the addition made by the Assessing Officer is not justified in the absence of any other supporting material - Decided against revenue. Addition on account of closing stock of sugar including the Excise Duty - CIT(A) deleted the addition - Held that:- In assessment year 2007-08, similar matter was restored back by the Tribunal to the file of CIT(A) for fresh decision wherein held There is no finding given by CIT(A) regarding the main objection of the Assessing Officer that the same stock for which the assessee adopted rate of ₹ 1,630/-, ₹ 1,665/-, ₹ 1,700/- and ₹ 1,735/- respectively per quintal as on 31/03/2006, in the present year, the assessee has applied a rate of ₹ 1,250/- ₹ 1,285/-, ₹ 1,320/- and ₹ 1,355/- per quintal respectively. If the same stock is lying then what is the basis of applying lower rate in the present year is not clear and CIT(A) has not given any finding on this aspect. Thus set aside the order of CIT(A) and restore the matter back to his file for deciding the issue afresh by passing reasoned and speaking order - Decided in favour of revenue for statistical purposes.
|