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Commissioner of Income Tax, Bhopal Versus M/s. Som Distilleries & Breweries Ltd. Bhopal

2015 (12) TMI 623 - HIGH COURT OF MADHYA PRADESH

Dealership deposit disallowed - ITAT deleted the addition - Held that:- The Tribunal scrutinized the record and found that apart from giving the particulars of cheque and demand draft the assesse has also furnished photocopy of Vouchers and bank statement and from these records it is found that these amounts were credited through bank transactions. It is also found in addition thereto entries of the withdrawn and deposits are available in the bank’s passbook and other bank documents filed by the .....

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eason for disallowance is not permissible and such disallowance has been interfered with. It is found by the learned tribunal that for the sum of ₹ 2,40,980 as the same was not deposited in time, no relief can be granted, but for the remaining amount deposited with the provident fund in time, as per law, the benefit is extended. This is also finding of fact based on due appreciation of the evidence and the material available on record and therefore we find no substantial question of law ar .....

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ng of bear and bottling along with other Indian made foreign liquors. On 30.11.2000 a return of income of ₹ 1,60,96,580/- was filed. The case was taken up for scrutiny under Section 143(3), the assessment was completed and the total income assessed was ₹ 4,48,77,110/-. On appeal being filed the Commissioner Income Tax granted certain deletion and when certain further deletions were also granted by the appellate tribunal, challenging the order passed by the tribunal, this appeal has b .....

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reditworthy and as the genuineness of the transactions is not established, concurrent findings were recorded by both the Assessing Officer and the Commissioner Appeal and in a perverse manner the tribunal has interfered in this assessment. Accordingly it is stated that interference with assessment pertaining to deletion, on this count an error is committed by the tribunal. Similarly in the matter of depositing the provident fund dues with the statutory provident fund authorities it is argued tha .....

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ribunal from para 13 onwards that this amount of ₹ 15,00,000/- was shown to have been deposited by M/s. High Spirit Beverages P. Ltd. and M/s. Maa Kali Enterprises. Finding that the genuineness and creditworthiness of these deposits are not established and there is no evidence to show that these deposits were made genuinely, the amount was disallowed by the Assessing Officer and the Commissioner Appeal. However, while reconsidering the matter the tribunal found that with regard to this dep .....

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