9911796707
TMI Blog2019 (9) TMI 1508X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent by: Ms Rinku Singh, Sr.DR ORDER K. NARASIMHA CHARY, J. Challenging the order dated 3.10.2016 of the learned Commissioner of Income-tax (Appeals)-33, New Delhi {for short Learned CIT(A) } passed in Appeal No.2734/16-17, assessee preferred this appeal. 2. Brief facts are that the assessee is engaged in the manufacturing and export of woollen, cotton and blended hosiery knitwear. For the Asstt. Yeare 2012-13 they have filed their return of income on 29.9.2012 declaring an income of ₹ 1,20,90, 150/-. During the course of assessment proceedings, ld. AO observed from the profit and loss account that the assessee company had debited an amount of ₹ 48,73,791/- on account of rebate and discount. Assessee was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le ground for disallowance by the AO and sustaining thereof by the ld. CIT(A) is that no vouchers have been produced before the authorities in respect of this amount. It is submitted by the ld. AR that the authorities below should have noted the fact that the assessee is maintaining the regular books of accounts which are audited. He further submitted that in respect of the earlier year and subsequent assessment years the rebate and discount in respect of the domestic sales constituted in the same range as all these years and having accepted the same, the authorities below committed error in disallowing it for this year. He produced copies of the assessment orders for the AYs 2013-14 to 2015-16. 5. Per contra, it is the submission on beh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for the Asstt. Years 2013-14, 2014-15 and 2015- 16 are produced and it is submitted that for the Asstt. Years 2013-14 the sales were ₹ 18.07 crores and rebate and discount is about ₹ 12.07 lacs constituting 0.67% and the same was accepted by the ld. AO u/s 143(3) of the Act. Further, it is submitted that in respect of the Asstt. Years 2014-15, there was a disallowance to the tune of ₹ 3,09,249/- and ₹ 3,59,320/- respectively but relief was granted by the ld. CIT(A) in appeal. 9. All these things would show that the amount of rebate and discount in respect of domestic sales is varying between 0.4% and 0.67%. It is, therefore, clear that the rebate and discount for the Asstt. Year 2012-13 by 0.30% is fitting in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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