M/s Harshavardhan Devvrat(HUF), Kolkata v. A.C..I.T Cir - 32,kolkata., Kolkata

C IN THE INCOME TAX APPELLATE TRIBUNAL BENCH- C KOLKATA ( ) BEFORE . . SHRI P.K.BANSAL ACCOUNTANT MEMBER /AND % 1 SHRI GEORGE MATHAN JUDICIAL MEMBER ( / ITA NO. 76/KOL/2013 A.Y 2009-10 M/S. HARSHAVARDHAN DEVVRAT (HUF) PAN: AACHH 4366N ) ) - VERSUS -. A.C.I.T CIR-33 KOLKATA ( * / APPELLANT ) ( + * / RESPONDENT ) * / FOR THE APPELLANT /SHRI MANOJ KATARUKA ADVOCATE LD.AR + * / FOR THE RESPONDENT: / SHRI P.K. CHAKRABORTY LD. JCIT/SR.DR 1 2 /DATE OF HEARING : 31-07-2014 1 2 /DATE OF PRONOUNCEMENT: 31 -07-2014 / ORDER % 1 SHRI GEORGE MATHAN JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS) XIX KOLKATA IN APPEAL NO. 194/CIT(A)- XIX/ACIT CIR-32/KOL/11-12 DATED 18-12-2012 FOR THE ASSESSMENT YEAR 2009-10. 2. SHRI MANOJ KATARUKA ADVOCATE LEARNED AR REPR ESENTED ON BEHALF OF THE ASSESSEE AND SHRI P.K. CHAKRABORTY LEARNED JCIT/SR .DR REPRESENTED ON BEHALF OF THE REVENUE. 3. AT THE TIME OF HEARING BEFORE US IT WAS SUBMITT ED BY SHRI MANOJ KATARUKA ADVOCATE LEARNED AR FOR THE ASSESSEE THAT IN THE COURSE OF ASSESSMENT THE AO HAD DISALLOWED THE BAD DEBT WRITTEN OFF BY THE ASSESSEE IN RESPECT OF M/S. NATH SEEDS LTD. IT WAS THE SUBMISSION BY HIM THAT DURING THE RELEVANT ASSESSMENT YEAR THE ASSESSEE HAD WRITTEN OFF OF THE SAID AMOUNT IN ITS BOOKS OF ACCO UNT. IT WAS THE SUBMISSION THAT THIS AMOUNT WAS DUE TO THE ASSESSEE FROM M/S. NATH SEEDS LTD. ON ACCOUNT OF OVER DUE OF INTEREST ON BILL DISCOUNTING. IT WAS SUBMITTED BY HIM THAT THE AO HAD HELD THAT THE TRANSACTION OF BILL DISCOUNTING WAS NOT IN THE COU RSE OF BUSINESS OF THE ASSESSEE. IT IS NOTED BY THE AO THAT THE TRANSACTIONS WERE RELATED TO THE AYS. 1996-97 & 1997-98. IT ITA NO. 76/KOL/13-C-JM M/S. HARSHAVARDHAN DEVVRAT V S. ACIT CIR. 32 KOL.. 3 1 +5 65 / COPY OF THE ORDER FORWARDED TO: 1. . * / THE APPELLANT : M/S. HARSHAVARDHAN DEVVRAT (HUF ) 906 SUBHAM 9 TH FL. 1 SAROJINI NAIDU SARANI KOL-17. 2 + * / THE RESPONDENT- ACIT CIR-32 10B MIDDLETON R OW KOL-71. 3 4. . / THE CIT ( )/ THE CIT(A) 5 . + / DR KOLKATA BENCH 6 . GUARD FILE . 5 +/ TRUE COPY / BY ORDER /ASSTT REGISTRAR ** PRADIP SPS