2015 (7) TMI 1017

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.... both these appeals by the assessee, therefore these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience. 2. First, we take up the Assessee's appeal in ITA No.3157/Ahd/2011 for AY 2008-09 as a lead case. The Assessee has raised the following grounds of appeal:- 1. In view of the facts and circumstances of the case, the Ld.CIT(A) ought to have held that the Ld.A.O. has erred in law and in facts in adding the sum of Rs. 5,98,461 as difference in the opening and closing stock of work-in-progress and hence Your Appellant most humbly Prays that the impugned addition be deleted. 2. In view of the facts and circumstances of the case, the Ld.CIT(A) ought to have held that the Ld.A.O.....

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....ibunal vide its order dated 31/08/2012 was pleased to direct the Assessing Officer to treat the closing stock of last year as opening stock of current year. 3.1. On the other hand, ld.Sr.DR supported the orders of the authorities below, however fairly conceded that in assessee's own case in AY 2007- 08, the Tribunal has directed the AO to allow the closing stock of preceding year as opening stock of current year. 4. We have heard the rival submissions, perused the material available on record and gone through the orders of the authorities below. We find that the Coordinate Bench of this Tribunal in assessee's own case bearing ITA No.976/Ahd/2010 for AY 2007-08 was pleased to decide the issue of difference in the opening and closing st....

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....rming the same. 5.1. On the other hand, ld.Sr.DR supported the orders of the authorities below and submitted that before the AO the assessee failed to furnish the requisite details in support of the expenditure. 6. We have heard the rival submissions, perused the material available on record and gone through the orders of the authorities below. We find that the AO in his assessment order in para-5 has observed that in the instant case, the assessee has simply furnished copy of ledger account of the plant & machinery repairs and maintenance expenses claimed during the year. Mere furnishing of the copy of the ledger account would not prove that the expenditure has been incurred wholly and exclusively for the purpose of the business. It ....

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.... Appellant most humbly Prays that the impugned addition be deleted. 3.Such other relief(s) to which the appellant may be lawfully entitled to. 9. In this appeal, the facts are identical to the facts of assessee's own case in ITA No.3157/Ahd/2011 for AY 2008-09(supra). The respective representatives of the parties adopted their arguments as were advanced in ITA No.3157/Ahd/2011(supra), wherein we have allowed the ground No.1 for statistical purposes with a direction to AO to allow the closing stock of preceding year as opening stock of current year. Accordingly, ground No.1 of assessee's appeal in ITA No.916/Ahd/2012 for AY 2009- 10, is allowed for statistical purposes. The AO is directed to allow the closing stock of the preceding yea....