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TMI Blog2021 (7) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... disturbed. Consequently grounds of appeal of Revenue are found devoid of merits and are liable to be dismissed. In view of our findings in the appeal of the Revenue, the cross objections become infructuous and are also liable to be dismissed. - ITA No. 1850/Del/2017, C.O. No. 117/Del/2017 (in ITA No. 1850/Del/2017) - - - Dated:- 16-7-2021 - Shri Prashant Maharishi, Accountant Member And Shri K. Narasimha Chary, Judicial Member For the Appellant : Sh. Satpal Gulati, CIT/DR For the Respondent : Sh. Ved Jain, Advocate ORDER PER K. NARASIMHA CHARY, J.M. Aggrieved by the order dated 24.01.2017 passed by the learned Commissioner of Income Tax (Appeals)-17, New Delhi ( Ld. CIT(A) ) for the assessment year 2013-14, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is his brother and also proprietor of M/s Ruchi Infotech Systems and was deriving business income for the A.Y. 2007-08 to 2012-13. Assessee also claims to have submitted the return of income, financial accounts of M/s Ruchi Infotech Systems and all other relevant details to show that Mr. Suresh Chand Arora proprietor of M/s Ruchi Infotech Systems is regularly filing return of Income and had Net Profits of ₹ 16 Crore from A.Y. 2006-07 and 2011-12. 3. Learned Assessing Officer, however, observed that proceedings were concluded by the Commissioner, Central Excise, Meerut-II, Division against the assessee, enquired form the Commissioner of Excise regarding the present status of the case and got to know that the order dated. 29.01.2010 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were before the Assessing Officer and the same were not doubted and the amount due to M/s Ruchi Infotech Systems were paid in the subsequent years. The Revenue is, therefore, before us in this appeal. Supporting the findings reached by the Ld. CIT(A), and assailing the grounds of appeal of the Revenue, assessee filed the cross objections. 5. Ld. DR placed reliance on the order of the learned Assessing Officer; whereas Ld. AR based his arguments on two grounds. Firstly, according to the learned Assessing Officer, in view of the order passed by the Commissioner of Excise against the assessee on 29/1/2010 holding that the assessee had availed cenvat credit bogus Cenvat invoices issued by M/s Ruchi Infotech Systems was subsequently found to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee and the assessee demonstrated with reference to page Nos 329 2/3/1957 of the paperbook. Insofar as these entries are concerned, after verification of the account books, Ld. CIT(A) returned a factual finding that the accounts were not rejected by the learned Assessing Officer, nor any defect in such books was found and therefore, the details of purchase vis- -vis sales produced by the assessee which were not doubted by the learned Assessing Officer, establish the case of the assessee. This finding of fact of the Ld. CIT(A) is not disputed by the Revenue. It, therefore, goes to establish that such liability as was existing as on 31/3/2013 and was repaid subsequently between 1/4/2013 and 31/3/2017, and such fact is well eviden ..... X X X X Extracts X X X X X X X X Extracts X X X X
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