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TMI Blog2016 (6) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... the view taken by the Tribunal is perverse. The question essentially is a question of fact and the learned Tribunal on the basis of evidence was satisfied that the money had in fact been received by way of advance and therefore, no question of any bogus liability being created was there as held by the Assessing Officer. Section 68 in the facts of the case had no applicability. - Decided in favour of assessee. - GA 1116 of 2016, ITAT 142 of 2016 - - - Dated:- 17-5-2016 - Girish Chandra Gupta And Asha Arora, JJ. For the Petitioner : Mrs. Smita Das De, Adv. Mr. J. P. Khaitan, Sr. Adv. Mr. S. Bhowmick, Adv. Mr. C. S. Das, Adv. ORDER The Court : The appeal is directed against a judgement and order dated 5th October, 2015 passed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r cycle being a dealer in automobile. Whenever the sale is taken place, within one to two months, these deposits are adjusted against sale price of the motor cycle. This fact is admitted by both the sides. The issue is whether the assessee is consistently following certain system of accounting which had been accepted by the department from the very beginning and even in future years. There is no change of system of accounting followed by the assessee. Allowing the department to adopt a different approach altogether in this assessment year in question would create an anomalous situation as far as the assessee is concerned. The issue that the dealer receiving advance money from customers where the item is in demand and there is scarcity of su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at all particulars were duly produced before the learned Tribunal as also before the Assessing Officer and the CIT(|A). The Assessing Officer and the CIT(A) chose to draw an inference unfavourable to the assessee because they insisted upon records which are not legally required. It was not required by law that before taking advance from the customers of motor cycles, the assessee should have obtained their PAN Card number. The assessee has taken advance against proper receipt and the amount taken by way of advance has been adjusted at the time of giving delivery of the motor cycles as regards which full particulars were furnished. Mrs. Das De, learned advocate appearing for the appellant/revenue, took time to go through the paper book fi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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