TMI Blog2019 (11) TMI 1297X X X X Extracts X X X X X X X X Extracts X X X X ..... re, in view of the above discussion, we are of the view that ld.Revenue authorities have failed to bring conclusive evidence for falsifying the claim of the assessee. We allow the appeal of the assessee and direct the Assessing Officer to accept the loss disclosed by the assessee on stock-loss of wheat, and thereafter compute the income of the assessee. - Decided in favour of assessee. - ITA NO. 451/CHD/2019 (Assessment Year : 2015-16) - - - Dated:- 6-11-2019 - SHRI N.K. SAINI, VP AND SHRI RAJPAL YADAV, JM Assessee by: Shri Sudhir Sehgal, Advocate Revenue by: Shri M.P. Diwedi, Sr. DR ORDER PER RAJPAL YADAV, JUDICIAL MEMBER : Assessee is in appeal before the Tribunal against order of ld.CIT(A)-5, Ludhiana dated 22.2.2019 passed for the Asstt.Year 2015-16. 2. The assessee has taken ten grounds of appeal which are not in consonance with the Rule 8 of the Income Tax (Appellate Tribunal) Rules, 1963 - they are descriptive and argumentative in nature. In brief, short issue involved in the present appeal is, whether the loss of ₹ 75,31,781/- claimed by the assessee on account of Stock Loss in trading of wheat is genuine loss ? If yes, then capi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Singhal Traders 08/01/2014 500000 2498 2072 5175856 2498 2498 4996 500 19984 5206332 Bannoth 3 M/s Chhavi Sales Corpn 08/01/2014 500000 2490 2068 5149320 2490 2490 4980 500 19920 5179700 Badli 4 M/s Anita Industries 08/01/2014 500000 2496 2071 5169216 2496 2496 4992 500 19968 5199668 Timarpur 5 Ms Kanshi Ram Sumit Kumar 08/01/2014 500000 2475 2071 5125725 2475 2475 4950 495 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 M/s Anita Industries 09/04/2014 705063 2488.5 1615.2 4019425 2496 2496 4992 515 9984 4337 3994605 1205063 5 M/s Kanshi Ram Sumit Kumar 09/04/2014 426769 2467.6 1720 4244272 2475 2475 4950 500 9900 5821 4220151 935769 6 M/s Tarn (hand Dev Kumar 09/04/2014 509277 2472.6 1689.5 4177458 2480 2480 4960 515 9920 4000 4153103 1008277 7 M/s Maya Rani Pawan Kumar 09/04/2014 525369 2477.6 1687.6 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessment. With regard to the objection of the CIT(A) that no delivery was taken by the assessee, he relied upon the judgment of Hon ble Rajasthan High Court in the case of CIT Vs. Aditya Mills Ltd., 209 ITR 933 wherein Hon ble High Court has held that if the actual delivery of goods is given to the agent, then it is to be construed that goods were remained with the agents, who acted on behalf of the assessee. It is not necessary that actual delivery is taken by the assessee himself. Pakka Arhtias has taken delivery of wheat stored in their godowns, and charged godown rent. This indicates that actual delivery has been taken by the assessee. 7. The ld.DR,on the other hand, relied upon the orders of the Revenue authorities, and submitted that the Assessing Officer has pointed out various defects in the version put-forth by the assessee in support of her claim. Settings of all these circumstances are such, which can prove that story of the assessee is false. 8. We have considered rival submissions and gone through the record carefully. According to the Assessing Officer, the assessee has sold office space in Gurgoan for ₹ 2.00 crores which has given rise to long term ..... X X X X Extracts X X X X X X X X Extracts X X X X
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