9911796707
TMI Blog2014 (4) TMI 19X X X X Extracts X X X X X X X X Extracts X X X X ..... st or in subsequent years - CIT(A) has held the expenses to be non-genuine and there is no reason to interfere in the findings of the CIT(A) – Decided against Assessee. - I.T.A. No. 69 /AHD/2011 - - - Dated:- 7-3-2014 - Shri D. K. Tyagi, J.M. And Shri Anil Chaturvedi, A.M.,JJ. For the Appellant : Shri M. K. Patel For the Respondent : Shri J.P. Jhangid, Sr. D.R. ORDER Per Shri Anil Chaturvedi,A.M. 1. This appeal is filed by the Assessee against the order of CIT(A)-XVI, Ahmedabad dated 08.11.2010. 2. The relevant facts as culled out from the material on record are as under. 3. Assessee is a partnership firm engaged in the business of manufacturing and trading of Submersible Pumps and Components. Assessee electro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng financial year 06-07 but was on the basis of performance of party during earlier financial year i.e. 05-06. He was therefore of the view that the expenses did not pertain to the year under consideration more so when the account of the party was credited with Turnover discount and Service discount on the first day of the financial year 06-07. A.O. also asked the Assessee to furnish documentary evidences in respect of scheme of turnover discount and Service turnover allowed to Jai Balaji Submersible as well as the details of other party to whom such discount was given during F.Y. 05-06 06-07. The Assessee was therefore asked to justify its claim of expenditure. A.O has noted that instead of giving the details along with the evidences to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cause if it was so, the discount could not have been decided on the very next day. The expenditure is clearly in respect of earlier year and not for the current year. 4.2 Secondly, even on merit, it is very clear that the appellant has failed to bring any document to show that the party was eligible for turnover discount and service discount. On the other hand the other party whose sales were for more than 25 Lacs has not been given the discount. Even though its sales were three times more the sales of Balaji. The piece of paper stating to be the terms and conditions does not inspire any confidence at all as it is a computer printout, bearing no mark of genuineness. Even the stamp of Balaji is not printed. The name of Balaji is not print ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Saurashtra Cement and Chemicals Industries Ltd. vs. CIT (1995) 213 ITR 523. and the decision in the case of Perfect Equipment vs. DCIT (2003) 85 ITD 50 (Ahmedabad) . The ld. D.R. on the other hand relied on the order of A.O. and CIT(A). 8. We have heard the rival submissions and perused the material on record. The issue in the present case is allowability of Turnover discount and Service discount. It is an undisputed fact that the turnover discount and Service discount which has been offered to Jai Balaji Submersible (Haryana) was with respect to the sales made to them in financial year 05-06. It is also a fact that the entry for credit of Turnover discount and Service discount have been passed on the first day of financial year i.e. on ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
