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TMI Blog2012 (10) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... were included in the consolidated cash book on which basis a peak amount has been calculated. In the absence of complete facts, the issue pertaining to Bardana and interest cannot be decided at this stage the order of CIT(A) is not in accordance with section 250(6) & send back to decide the issue afresh - in favour of assessee for statistical purposes. - ITA No.240/Agr/2012 - - - Dated:- 5-10-2012 - SHRI BHAVNESH SAINI, AND SHRI A.L. GEHLOT, JJ. Appellant by : Shri Rakesh Kumar Jain, C.A. Respondent by : Shri Waseem Arshad, Sr. D.R. ORDER PER A.L. GEHLOT, ACCOUNTANT MEMBER: This is an appeal filed by the assessee against the order dated 14.03.2012 passed by the ld. CIT(A)-II, Agra for the A.Y. 2008-09 2. The as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so been noticed by the A.O. that the assessee accepted the interest to the tune of Rs.7,83,272/- whereas as per the interest mentioned in Kisan Bahi i.e. Annexure E-9, the amount of interest was Rs.8,53,248/-. Since this was common amount of interest of other Cold storages also, the A.O. apportioned the said interest applying 40.7% of which calculation comes to Rs.3,47,372/- 5. The additions made by the A.O. has been confirmed by the CIT(A) as under:- (Paragraph nos.3.2 4.2 at page nos.5 7) 3.2 I have analysed the matter and find that it is a matter of fact that consolidated books of account pertaining to 3 cold storages were found. I also agree with the AO that Sh. Vijay Kumar Agarwal has managed three concerns and whatever inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aised based on identical set of facts. In that case, the matter has been sent back to the file of CIT(A). The relevant finding of that case is reproduced as under :- (Paragraph nos.22 23) 22. The contention of the assessee that these additions have already been taxed in the hands of one of the constituent of group concerns namely Vijay Kumar Agarwal. The explanation before the CIT(A) which have also been reproduced by the CIT(A) in his order which are reproduced as below :- (Paragraph nos.3.1 4.1) 3.1 For deletion of this addition, the ld. AR of the appellant vide his written submissions has submitted as under: The ld. AO has made an addition of Rs.22,23,928/- on account of alleged undisclosed investment in Bardana. The Id. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21,26,114/- for bardana purpose, it is clarified that this amount is not a payment. This is a credit entry against which the payment of Rs.25,00,000/- is made on 27.08.2007 and reflected in the account of Vijay Bhai. Hence the entire block of Rs.80,87,014/- already stands taxed , therefore, the addition made by Id. AO may kindly be deleted. ---------- 4.1 For deletion of this addition, the Id. AR of the appellant vide his written submissions has submitted as under: The Id. AO has made an addition of Rs.2,34,643/- on account of alleged unaccounted interest received on the advances made to farmers. As is evident from the assessment order the interest to the tune of Rs.8,53,248/- was received out of which the appellants shares was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to adopt a different stands in year in question so as to attract double taxation which can never be the intent of law. Under the circumstances, the addition made on this count may kindly be deleted. 23. We have heard the ld. Representatives of the parties and records perused. The contention of the assessee that the activity related to Bardana and advances to farmers and charging of interest thereon relates to Shri Vijay Kumar Agarwal. Shri Vijay Kumar Agarwal in A.Y. 2007-08 and 2008-09 has surrendered the amount on these accounts. It was submitted that under similar facts and circumstances in A.Y. 2007-08 the peak of consolidated cash book of Vijay Bhai was Rs.1,63,95,005/- on 18.06.2007 pertains to A.Y. 08-09. As per the assessee, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso been noticed that there is no consolidated reconciliation on record based on which it can be said that the transaction relating to Bardana and interest has been the entries for amounts which were considered for calculation of peak amount. In the absence of complete reconciliation of details in this regard that the transaction relating to Bardana and interest were included in the consolidated cash book on which basis a peak amount has been calculated. In the absence of complete facts, the issue pertaining to Bardana and interest cannot be decided at this stage. In the light of above facts and in the light of the fact that the order of CIT(A) is not in accordance with section 250(6) of the Act, we, therefore, send back this matter to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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