TMI Blog2015 (10) TMI 2181X X X X Extracts X X X X X X X X Extracts X X X X ..... discrepancy in the same because these advances were adjusted against sales. When this was pointed out to Ld. Sr. DR, he stated that the assessee is unable to produce the PANs, names and addresses of the parties. He was specifically shown a tax/retail invoice wherein complete details were given except the PAN/Voter I. Card. In our view, PAN/Voter Identity Card is a KYC norm, which does not apply to the sale of goods under the Sale of Goods Act. In view of the above, we are of the view that the AO and CIT(A) both have erred in making and confirming this addition and accordingly, we delete the same. - Decided in favour of assessee. - ITA No. 407/Kol/2015 - - - Dated:- 5-10-2015 - Mahavir Singh, JM And M Balaganesh, AM For the Petitioner : Shri S M Surana, Adv For the Respondent : Shri P K Chakraborty, Addl. CIT ORDER Per Shri Mahavir Singh, JM This appeal by assessee is arising out of order of CIT(A)-Durgapur in appeal No. 155/CIT(A)/DGP/2012-13 dated 26.03.2015. Assessment was framed by ACIT, Circle- 1, Durgapur u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the Act ) for AY 2010-11 vide its order dated 19.03.2013. 2. The only issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e money receipts of advance payments and adjust the advance against sale price of two wheelers. But the AO has not believed the explanation of the assessee and added the entire advance received from customers at ₹ 3,99,54,051/-. Aggrieved, assessee preferred appeal before CIT(A), who confirmed the action of AO by applying the provision of section 68 of the Act by giving the following final finding at para 7 as under: 7. Therefore taking into consideration the circumstances of the present case and the applicable legal position on the issue, it can be safely concluded that the A.O. was correct in law in resorting to the addition of ₹ 3,99,54,051/- by applying the provisions of s. 68 of the Act since the criteria of identity, creditworthiness and the genuineness of the transaction in respect of advance from customers remained unproved and after due deliberation, I am inclined to uphold the same. Aggrieved, now assessee is in second appeal before Tribunal. 4. We have heard rival submissions and gone through facts and circumstances of the case. We find that the assessee is a private limited company started its business for AY 2008-09 as a dealer of Hero Honda mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. copies of money receipt issued to customers while booking and taking advance is given at pages 15 to 109, at Sl. No. 6 party wise details to whom motor cycle was delivered against advance given at pages 110 to 130, at Sl. No. 7 copies of invoice issued to parties on sale of motor cycle and adjustment of advance at pages 131 to 145, at Sl. No. 8 confirmation from few parties for deposit of advances at pages 146 to 187, at Sl. No. 10 party wise and motor cycle wise advances as on 31.03.2010 at pages 193 to 212 and also at Sl. No. 11 comparative chart of sales and advances from customers from FY 2007-08 to 2011-12. The last item i.e. comparative chart of sales and advances from customers is new evidence filed before the Tribunal for the first time otherwise all the evidence were before AO as well as before CIT(A), but this comparative chart is only compilation of sales and purchases as well the advances. It was explained that name of the customers with relevant receipt no. issued on receiving advance and amount of advance receipt were given. Even the addresses of customers therein relevant tax/sales invoices, which were produced before the AO as well as before CIT(A), contains full ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee is consistently following this practice and he has filed the details at page 213 of assessee's paper book and the relevant details reads as under: Dutta Automobiles Pvt. Ltd. Comparative Chart of Customers Advance from Asst. Year 2008-09 to 2012-13 AY 2008-09 (Rs.) AY 2009-10 (Rs.) AY 2010-11 (Rs.) AY 2011-12 (Rs.) AY 2012-13 (Rs.) Sales as per Audited P L Account (Only motor cycle) 125485126 271650526 328049281 423061933 449828281 Advance from customers (i) Opening Balance 0 3051540 23473175 39954051 31735984 (ii)Received during the year 20780940 119261320 189008017 161719880 149832190 (iii)Adjusted during the year 117729400 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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