2013 (12) TMI 1315

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....wal, D. Awasthi, G.Krishna, R.K. Upadhaya, S Chopra For the Respondent : R. R. Agrawal ORDER We have heard Sri Govind Krishna for the appellant. Sri R.R. Agarwal appears for the respondent-assessee. This Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 is directed against the order of the Income Tax Appellate Tribunal, Delhi Bench, Delhi dated 22.09.2003, relevant for ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... duty receivable. The reasoning given by the Tribunal are as follows:- "6. Ground No.2: This ground is directed against deletion of addition of Rs.10,31,279/- made on account of excise duty receivable. The version of the assessee in this regard was that this amount has not been debited in the P & L A/c, and it was only balance sheet entry which reflected this amount. The learned CIT (A) has con....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the requirement from the concerned Government Department in lieu of Central Excise Duty paid earlier. Thus, in the net result, the appellant was not in receipt of any amount from the Government Department to whom goods were sold. This becomes clear from entries in its books of a/c as mentioned above. It is also surprising to note that the Export Incentive of Rs.4,05,777/-, which was exempt u/s 80....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ition particularly when the amount of central excise duty was received on account of reimbursement and also because this amount was not debited in the P & L a/c by the assessee itself. Ground fails." Sri Govind Krishna has relied upon decisions in Commissioner of Income Tax Vs. Narang Ram Chiranji Lal [(1999) 235 ITR 11]; Commissioner of Income Tax Vs. Chaudhary and Co. [(1996) 217 ITR 431]; an....