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2016 (7) TMI 842 - ITAT DELHI

2016 (7) TMI 842 - ITAT DELHI - TMI - Addition u/s 68 - non producing sundry creditors / parties - CIT(A) deleted the addition stating that the addition was made merely on estimate basis - notice u/s 133(6) - Held that:- CIT(A) has passed a well reasoned and speaking order, because AO issued notice u/s 133(6) to M/s Star Power Coating and M/s Hari Enterprises which were returned back by the postal authorities due to inadequate address and the notice u/s 133(6) of the Income Tax Act, issued to M/ .....

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oned in the impugned order. Therefore, CIT(A) has passed a well reasoned order on the basis of the documentary evidences filed by the assessee and rightly deleted the additions in dispute, which does not require interference - Decided against revenue - ITA No. 3858/Del/2014 - Dated:- 15-6-2016 - SHRI H.S. SIDHU, JUDICIAL MEMBER For The Department : Sh. KK Jaiswal, Sr. DR For The Assessee : Sh. Deepak Ostwal, FCA ORDER PER H.S. SIDHU, JM This appeal is filed by the Revenue is directed against the .....

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set aside and restore back to the AO for verification of the above facts. 4. The appellant craves the right to add, alter or amend any ground of appeal. 2. The brief facts of the case are that the assessee filed return declaring an income of ₹ 8,67,232/- on 14.10.2010. The statutory notice u/s. 143(2) of the Income Tax Act, 1961 (hereafter referred as the Act) was issued on 27.8.2011 and duly served upon the assessee, thereafter, other notices including notice u/s. 142(1) were issued. In r .....

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Revenue is in appeal before the Tribunal. 5. During the hearing, Ld. DR relied upon the order passed by the AO and reiterated the contentions raised in the grounds of appeal by the Department and stated that Assessing Officer had issued notices u/s 133(6) of the Act to the sundry creditors for establishing their identity and creditworthiness which were received back unserved. He further stated that AO also directed the assessee to produce all the creditors, but the assessee failed to produce the .....

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erification of the creditors. 6. On the contrary, Ld. Counsel of the Assessee relied upon the order of the Ld. CIT(A) and stated that AO issued notice u/s 133(6) to M/s Star Power Coating and M/s Hari Enterprises which were returned back by the postal authorities due to inadequate address and the notice u/s 133(6) of the Income Tax Act, issued to M/s Jai Mata Di Udyog was returned by the postal authorities with the remarks "to consult Bahadurgarh" meaning thereby the creditors are in e .....

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evidence filed by the assessee before the Assessee as well as before the ld. CIT(A) and the impugned order may be upheld. 7. I have heard both the parties and perused the records, especially the order of the Ld. First Appellate Authority. After perusing the impugned order of the Ld. CIT(A), I find that Ld. CIT(A) has elaborately discussed the issues in dispute vide his impugned order dated 30.4.2014 vide para no. 5 to 6 at pages 4 to 6 and held as under:- 5. I have carefully considered the subm .....

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.3.2010 1 Star Power Coating, 1/17, Main Najafgarh Road, New Delhi ₹ 1,84,947/- 2 Hari Enterprises, Khera Road, Vill. Siraspur, Delhi - 42 ₹ 3,64,445/- 3 Jai Mata Di Udyog, 34 KM Stone, Rohtak Road, Bahadurgarh ₹ 28,76,886/- Total ₹ 34,26,278/- The notice u/s 133(6) to M/s Star Power Coating and M/s Hari Enterprises were returned back by the postal authorities due to inadequate address. The notice u/s 133(6) of the Income Tax Act, issued to M/s Jai Mata Di Udyog was retur .....

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ssing Officer from the creditors namely Star Power Coating on 09.03.23013, Hari Enterprises on 20.3.2013 and Jai Mada Di Udyog on 20.3.2013 wherein the creditors provided the copy of accounts alongwith the their proof of identity and PAN Nos. The appellant also furnished copies of his bank statements to prove that the payments were made to these creditors during the relevant assessment year through cheques against the purchases made from them. However, it seems that the Assessing Officer did not .....

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the case of Hari Enterprises, the outstanding balance of credit amount as on 01.04.2009 was ₹ 6,24,937/- and during the relevant assessment year, the appellant has made payments to MIs Hari Enterprise through his bank account at Punjab National Bank (Account No 4081002101003073). The PAN No of MIs Hari Enterprises was also provided and as per the PAN No ASTPR5345N, Shri Pradeep Rana, was the proprietor of M/s Hari Enterprises. Even the confirmation of accounts from M/s Hari Enterprises, wa .....

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payments against purchases made from Jai Mat Di Udyog were made by the appellant through his bank account at Punjab National bank. The purchases made from Jai Mata Di Udyog and the payments made against these purchases were not disputed by the Assessing Officer during the course of assessment. In the case of Star Power Coating, the confirmation of account was received by the Assessing Officer twice i.e. on 04.03.2013 and on 09.03.2013. Again the purchases and payments were made against the purc .....

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Premium to LlC on the following dates: 1. 30.04.2009 Policy No 115164188 ₹ 25,000 2. 11.08.2009 Policy No 114817723 ₹ 22,145 3. 11.08.2009 Policy No 112564002 Rs.6,030 4. 09.01.2010 Policy No 112564002 ₹ 6,304 5. 27.01.2010 Policy No 114817723 RS.45,301 Besides the appellant ha also paid premium against medi claim policy to New India Insurance Co Ltd. as follows: 1. 03.02.2010 Policy No 311401 RS.5,500 From the above it is evident that the appellant has rightly claimed the ded .....

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