9911796707
TMI Blog2013 (12) TMI 724X X X X Extracts X X X X X X X X Extracts X X X X ..... - 112 of 2003, Income Tax Appeal No. - 113 of 2003 - - - Dated:- 13-12-2013 - Hon'ble Dr. Satish Chandra And Hon'ble B. Amit Sthalekar,JJ. For the Appellant : A. N. Mahajan,B. Agarwal For the Respondent : R. R. Agrawal,P. Agrawal,Suyash Agrawal ORDER All the appeals have been filed by the Department under Section 260A of the Income Tax Appeal, 1961 against the judgments and orders dated 31.03.1999; 23.10.2002; and 10.06.2002, passed by the Income Tax Appellate Tribunal, Delhi in I.T.A.No. 7286 7544/Del/1992; 3018 3628/Del/1993; 2103/Del/97; 5523 5146/Del/97; and 2939/Del/97, for the assessment year mentioned above. On 09.08.2000, a Coordinate Bench of this Court has admitted the Appeal No. 173/1999, on the followi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing substantial questions of law:- "1. Whether on facts and in the circumstances of the case the learned ITAT was legally justified in dismissing the Departmental appeal on the issue of relief of Rs.21,90,823/- in assessment year 1990-91 in respect of sales returned as claimed by the assessee, which pertains to accounting year relevant to assessment year 1991-92 ? 2. Whether on the facts and in the circumstances of the case the learned ITAT was legally justified in further allowing a relief of Rs.5,42,205/- in respect of sales returned besides the relief given by the learned C.I.T.(Appeals) holding that the sales were not complete before the return of books by the publishers even though bills have been issued, goods despatched and deli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, the learned ITAT was legally justified in allowing further relief in repsect of sales returned even though the method of accounting as adopted by the assessee was not bonafide and did not reflect true income of the assessee, which is further proved by valuation of sales returned of Rs.69,75,221/- upto 30.6.1992 at Rs.1,75,142/- as on 31.3.92 ?" On 24.01.2011, a Coordinate Bench of this Court has admitted the Appeal No. 113/2003, on the following substantial question of law:- "Whether on facts and in the circumstances of the case the Ld. ITAT was legally correct in dismissing departmental appeal on the issue of relief of Rs.16,80,068/- allowed by the ld. CIT(A) in A.Y. 1994-95 in respect of sales return as claimed by the assessee, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rn of sold books amounted to Rs.34,31,687/- for period from 01.04.1989 to 31.03.1989. The assessee has justified it on the ground that the figures shown were actual sale consideration which was return during the year 1989-90, and the same was received back in the period from 01.04.1989 to 30.06.1989, and since the accounting period of the assessee was 30th June, sale returned in the period 1st April to 30th June every year and were already deducted from the gross sales, and the net sales was shown in the Profit and Loss account, but the same is not acceptable to the Department. Further, he submits that in the Assessment Year 1989-90 due to amendment of Section 3, whereby Financial year became the previous year, in order to make all the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le as per the guidelines issued by the Institute of Chartered Accountant. The Tribunal has discussed the same in detailed. After examining the entire material, the Tribunal observed that there is no escapement of tax, which has admitted by the learned counsel for the Department, during the course of argument. Needless to mention that the Tribunal is a final fact finding authority as per the ratio laid down in the following cases: (i) CTT vs. Suraj Dal Mill, 2005 (37) STJ 547 Alld; (ii) CTT vs. Durga Dal Mill, 2006 (3) VLJ 152 Alld.; (iii) Kamla Ganpati vs. Collector of Estate Duty, 253 ITR 692 SC; and (iv) Anjani Coal Agency vs. CTT, 2005 (37) STJ 294 All. In the instant case, the entire tax has been paid along with the interest ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
