GUPTA K.N. CONSTRUCTION CO., Jaipur V. DEPUTY COMMISSIONER OF INCOME TAX, Jaipur

ITA 1024/JPR/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3611 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax (International Taxation) Appeal
• Pronouncement Date: 29-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 22-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K JAIN JCIT DR DHK
• Assessee Lawyers: MRS PREMLATA
• Keywords: Depreciation; Question of law

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH FOT; IKY JKO] U;KF;D LNL; ,O JH HKKXPUN] YS[KK LNL; LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, AM VK;DJ VIHY LA-@ ITA NO. 1024/JP/2017 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR: 2013-14 M/S. GUPTA K.N. CONSTRUCTION CO. A-34, GANESH NAGAR, SHYOPUR ROAD SANGANER, JAIPUR CUKE VS. THE DCIT CIRCLE 7 JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO .: AADFG 4615 N VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY: SHRI S.L. JAIN ADVOCATE & MRS. PREM LATA, ADVOCATE JKTLO DH VKSJ LS@ REVENUE BY:SHRI S.K. JAIN, JCIT - DR LQUOKBZ DH RKJH[K@ DATE OF HEARING : 17/05/2018 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 20/06/2018 VKNS'K@ ORDER PER BHAGCHAND, AM THE APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF THE LD. CIT(A)-3, JAIPUR DATED 13-10-2017 FOR THE ASSESS MENT YEAR 2013-14 RAISING THEREIN FOLLOWING GROUNDS OF APPEAL. 1. THAT THE LD. AUTHORITIES BELOW HAVE GROSSLY ER RED IN LAW AND FACTS IN INVOKING THE PROVISIONS OF SECTION 145(3) WITHOUT ANY JUSTIFICATION. THE ASSESSEE HAS MAINTAI NED REGULAR AND PROPER BOOKS OF ACCOUNT DULY AUDITED BY ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 2 CHARTERED ACCOUNTANT AND EXPENSES ARE VOUCHED AND VERIFIABLE. 2. THAT THE LD. AUTHORITIES BELOW HAVE GROSSLY ERRE D IN LAW AND FACTS IN MAKING/ CONFIRMING TRADING ADDITIO N OF RS. 20,09,867/- AND NOT PLACING RELIANCE ON THE PAST HI STORY OF THE CASE. THE DEPARTMENT, ITAT, HON'BLE RAJASTHAN H IGH COURT HAS ESTIMATED INCOME ON THE BASIS OF NET PROF IT THEORY SINCE LAST MANY YEARS AND THE SAME CANNOT BE DISTUR BED IN THE ABSENCE OF ANY DISTINGUISHING FEATURE. -PR.CIT VS GUPTA K.N. CONSTRUCTION CO. DBIT APPEAL NO. 187/2016 A.Y. 2012-13. -CIT VS GUPTA K.N. CONSTRUCTION CO. [2015] 371 ITR 3225 (RAJ) PAST IS THE BEST GUIDE YEAR TURNOVER N.P. DECLARED % OF N.P. DECLARED % APPLIED IN ASSTT. BY A.O. APPEAL EFFECT 2013-14 199094663 9852932 4.95 11% CIT(A) CONF. 6% SUB. YO STATUTORY ALLOWANCE 2012-13 153853690 7610364 4.95 11% ITAT APPLIED 5.5% (H.C. DISMISSED GOVT. APPEAL) 2011-12 20556421 740615 3.60 5% NO APPEAL 2010-11 109639345 5117816 4.67 5% CIT (A) CONF. 5% 2009-10 123257523 6629223 5.38 VARIOUS ADHOC DISALLOWANCE OF EXPENSES ADHOC ADDITION CONFIRMED BY ITAT RS. 5 LACS (H.C. DISMISSED GOVT. APPEAL) 2008-09 106227305 5338548 5.02 5.02 ACCEPTED WITHOUT SCRUTINY 2007-08 48834743 2489297 5.10 5.10 ACCEPTED WITHOUT SCRUTINY 2006-07 21090878 1056688 5.01 6.00 5% BY ITAT 2005-06 12632146 471641 3.73 6.00 5% BY ITAT 2004-05 24003129 852775 3.55 8.00 5% BY ITAT ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 3 THE CASE OF THE ASSESSEE IS IDENTICAL WITH THE PAST AND THEREFORE, PREVIOUS YEARS NET PROFIT RATE 5.5% SHOU LD HAVE BEEN APPLIED BY LD. CIT(A)-III, JAIPUR 3. THAT THE LD. AUTHORITIES BELOW HAVE GROSSLY ERRE D IN LAW AND FACTS IN NOT ALLOWING THIRD PARTY INTEREST FROM NET PROFIT DETERMINED BY APPLYING NET PROFIT THEORY. 4. THAT THE LD. AUTHORITIES BELOW HAVE GROSSLY ERRE D IN LAW AND FACTS IN TAXING BANK INTEREST AS INCOME FRO M OTHER SOURCE INSTEAD OF INCOME FROM BUSINESS ON FUNDS LYI NG IN THE BUSINESS. 5. THAT THE LD. AUTHORITIES BELOW HAVE GROSSLY ERRE D IN LAW AND FACTS IN CHARGING INTEREST U/S 234B, 234D & 244A. 2.1 DURING THE COURSE OF HEARING THE LD.AR HAS NOT PRE SSED THE GROUND NOS.1, 4 AND 5. HENCE, THE SAME ARE DISMISSED BEING NOT PRESSED. 3.1 APROPOS GROUND NO. 2 OF THE ASSESSEE ,THE FACTS AS EMERGES FROM THE ORDER OF THE LD. CIT(A) ARE AS UNDER:- THE NEXT ISSUE IN THIS CASE THE ESTIMATION OF NET PROFIT RATE. THE AO ESTIMATE NET PROFIT RATE @ 11% ON CONTRACT RECEIPT. THE AO ESTIMATED NET PROFIT RATE WITHOUT ANY BASIS. THE A/R OF THE APPELLANT SUBMITT ED THAT ESTIMATION OF INCOME, KEEPING IN VIEW OF THE MATERIAL AVAILABLE ON RECORD, PAST HISTORY OF THE C ASE, LOCAL KNOWLEDGE, COMPARABLE CASE AFTER CONFRONTING WITH TRADING RESULTS AND REPUTE OF THE ASSESSEE. HE IS A LSO SUPPOSED TO COLLECT NECESSARY MATERIAL FOR THE PURP OSE, IF SO REQUIRED. AN ARBITRARY, CAPRICIOUS AND WILD ESTI MATION, AS DONE IN THE PRESENT CASE, ARE NOT AT ALL PERMITT ED IN THE EYES OF THE LAW. ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 4 I PERUSED THE MATERIAL BEFORE ME. I FIND THAT THE HONOURABLE RAJASTHAN HIGH COURT HELD IN VARIOUS CAS E THAT PAST HISTORY IN BEST METHOD FOR ESTIMATION PRO FIT RATE. IN THIS CASE THE PAST HISTORY OF THE APPELLANT IS A S UNDER- YEAR TURNOVER N.P. DECLARED % OF N.P. DECLARED % APPLIED IN ASSTT. BY A.O. APPEAL EFFECT 2013-14 199094663 9852932 4.95 11% APPEAL PENDNG 2012-13 153853690 7610364 4.95 11% 5.5% BY ITAT 2011-12 20556421 740615 3.60 - NO APPEAL 2010-11 109639345 5117816 4.67 5% APPEAL PENDING 2009-10 123257523 6629223 5.38 VARIOUS ADHOC DISALLOWANCE OF EXPENSES ADHOC ADDITION CONFIRMED BY ITAT RS. 5 LACS (H.C. DISMISSED GOVT. APPEAL) 2008-09 106227305 5338548 5.02 5.02 ACCEPTED WITHOUT SCRUTINY 2007-08 48834743 2489297 5.10 5.10 ACCEPTED WITHOUT SCRUTINY 2006-07 21090878 1056688 5.01 6.00 5% BY ITAT 2005-06 12632146 471641 3.73 6.00 5% BY ITAT 2004-05 24003129 852775 3.55 8.00 5% BY ITAT THE HONOURABLE I.T.A.T. IN THE CASE OF THE APPELLAN T FOR A.Y. 2012-13 HELD THAT WHEN BOOKS OF ACCOUNT HA D BEEN REJECTED U/S 145(3) OF THE ACT BY THE ASSESSIN G OFFICER, THE ONLY OPTION IS LEFT BEFORE HIM TO ESTI MATE FAIR INCOME ON THE GIVEN CIRCUMSTANCES AND NATURE OF THE BUSINESS BY COMPARING THE CASE OF BY COLLECTING THE EVIDENCES. THE NET PROFIT DURING THE YEAR UNDER CONSIDERATION IS 4.95% BEFORE INTEREST AND REMUNERA TION ON TOTAL CONTRACT RECEIPT OF RS. 15,38,53,690/-, WHICH WAS 3.6% IN PRECEDING YEAR ON TOTAL CONTRACT RECEIPT OF RS. 2.05 CRORES. THE LOWER AUTHORITY ESTIMATED THE NET PROFI T @ 11%, WHICH IS HIGHER SIDE AS IN A.Y. 2011-12 AND 2010-11 THE ASSESSING OFFICER ESTIMATED NET PROFIT RATE @ 5%. I N A.Y. ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 5 2009-10 ALSO VARIOUS AD HOC DISALLOWANCES WERE MADE BY THE ASSESSING OFFICER ON NET PROFIT RATE @ 5.38% ON TOTAL CONTRACT RECEIPT OF RS. 12.32 CRORES. THE COORDINAT E BENCH HAS CONFIRMED THE LUMP SUM ADDITION OF RS. 5 LACS. EVEN FROM A.Y. 2004-05 TO 2008-09 THE ASSESSEE EITHER DI SCLOSED NET PROFIT RATE MORE OR LESS 5% OR ACCEPTED BY THE ITAT @ 5% SUBJECT TO INTEREST AND REMUNERATION TO THE PART NERS. THE ASSESSEE IN A.Y. 2009-10/ WAS BEFORE THE HON'BL E RAJASTHAN HIGH COURT WHEREIN THE HON'BLE HIGH COURT HAS DISMISSED THE ASSESSEE'S APPEAL WHERE LUMP SUM ADDI TION OF RS. 5 LACS WAS CONFIRMED BY THE ITAT. THE ASSESS EE HAS CLAIMED THIRD PARTY INTEREST FROM THE NET PROFIT RA TE ESTIMATED BUT ON VERIFICATION OF THE PAST HISTORY, IT IS FOUND THAT THE ASSESSEE NEVER CLAIMED THIRD PARTY INTERES T AGAINST THE NET PROFIT RATE APPLIED BY THE ASSESSING OFFICE R. THEREFORE, WE DO NOT FIND ANY MERIT ON GROUND NO. 4 OF THE ASSESSEE'S APPEAL. SIMILARLY INTEREST ON FDR HAS AL SO BEEN ASSESSED BY THE ASSESSING OFFICER AS INCOME FROM OT HER SOURCES, WHICH HAS BEEN ACCEPTED BY THE ASSESSEE IN PAST. THEREFORE, WE DO NOT FIND ANY REASON TO DISTURB THE CONSISTENCY OF THE CASE. THE NET PROFIT RATE APPLIE D @ 11% IS HIGHER SIDE EVEN BOOKS OF ACCOUNT REJECTED AS NO T PRODUCED BY THE ASSESSEE BUT THE BUSINESS RESULT CA N BE COMPARED FROM THE OTHER CASES, WHICH HAS ALSO NOT B EEN APPLIED BY THE LOWER AUTHORITY EVEN CONFIRMING THE ADDITION BY THE LD CIT (A). KEEPING IN VIEW OF THE PAST HIST ORY OF THE CASE, WE APPLY NP @ 5.5% SUBJECT TO INTEREST AN D REMUNERATION TO THE PARTNER. THE HON'BLE ITAT IN THE A.Y. 2010-11 REJECTED THE CLAIM OF THE THIRD PARTY INTEREST FROM AT THE TIME OF ESTIMATION NET PROFIT RATE. IT IS FOUND THAT APPELL ANT NEVER CLAIMED THIRD PARTLY INTEREST AGAINST THE NET PROFI T RATE APPLIED BY THE ASSESSING OFFICER. THEREFORE I ALSO REJECT THE CLAIM OF THE APPELLANT FOLLOWING PAST HISTORY OF TH E CASE. THEREFORE CONSIDERING THE ABOVE OBSERVATION, FACTS OF THE CASE AND FOLLOWING THE DECISION OF THE HONOURAB LE I.T.A.T., I ESTIMATE THE NET PROFIT RATE @ 6% SUBJE CT TO ALLOW ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 6 ABILITY OF DEPRECIATION, INTEREST TO PARTNER AND RE MUNERATION PAID TO PARTNERS. THE INCOME COMES AS UNDER- NET PROFIT @ 6% OF TOTAL TURNOVER 19,90,94,463/- RS . 1,19,45,680/- LESS: 1) DEPRECIATION RS. 24,12,851/- 2) INTEREST TO PARTNERS RS. 29,22,962/- 3) REMUNERATION PAID TO PARTNERS RS. 40,00,000/- RS. 99,35,813/- RS. 20,09,867/- THESE GROUNDS ARE PARTY ALLOWED. 3.2 DURING THE COURSE OF HEARING, THE LD.AR OF THE ASSESSEE PRAYED FOR APPLICATION OF NET PROFIT @ 5.5% AND ALSO ALLOWING THE THIRD PARTY INTEREST FROM NET PROFIT DETERMINED BY APPLYING NET PROFIT THEORY. 3.3 ON THE OTHER HAND, THE LD. DR SUPPORTED THE ORD ER OF THE LD. CIT(A) 3.4 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. BRIEF FACTS OF THE CASE ARE TH AT THE ASSESSEE IS ENGAGED IN THE BUSINESS OF CIVIL CONSTRUCTION WORK DURING THE YEAR UNDER CONSIDERATION. THE ASSESSEE HAS PERFORMED CIVIL WOR K CONSTRUCTION WORK FOR VARIOUS STATE GOVERNMENT DEPARTMENT LIKE JDA, P WD, RIICO ETC. THE ASSESSEE IS A PARTNERSHIP FIRM AND IT HAS CLAIM ED DEPRECIATION OF RS. 24,12,851/- AND INTEREST TO THIRD PARTIES OF RS . 29,22,964/- AND REMUNERATION TO PARTNERS OF RS. 40.00 LACS IS CLAIM ED WHICH RESULTED INTO THE NET INCOME OF RS. 29,29,969/-. IT IS NOTED THAT THE AO HAD ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 7 APPLIED THE 11% NET PROFIT ON GROSS CONTRACT RECEIP T. HOWEVER, THE LD. CIT(A) HAS ESTIMATED THE NET PROFIT RATE @ 6% SUBJE CT TO ALLOWABILITY OF DEPRECIATION, INTEREST TO PARTNER AND REMUNERATION PAID TO PARTNER. DURING THE COURSE OF HEARING, THE LD.AR OF THE ASSE SSEE RELIED UPON THE DECISION OF HON'BLE RAJASTHAN HIGH COURT IN THE CAS E OF THE ASSESSEE IN DBIT NO. 187/2016 DATED 21-11-2017 WHEREIN THE HON' BLE HIGH COURT HAS CONFIRMED THE NET PROFIT @ 5.5% BY OBSERVING AS UNDER:- 6. AFTER THE MATTER WAS ARGUED, NOW MR. S.L.JAIN COUNSEL FOR RESPONDENT HAS APPEARED. THE MATTER WAS ADMITTED ON 9 TH NOVEMBER, 2016 AND WHEN THE MATTER WAS ADJOURNED ON 14 TH NOVEMEBR, 2017, AT THE REQUEST OF ASSESSEE, WE MADE IT CLEAR THAT THE COURT WILL PROC EED WITH THE MATTER AS THIS IS ONE OF THE OLDEST MATTER PEND ING BEFORE THE JAIPUR BENCH. HOWEVER, HE HAS SOUGHT TO RELY UP ON THE DECISION OF THIS COURT IN CASE OF COMMISSIONER OF I NCOME TAX VS GUPTA K.N. CONSTRUCTION CO.[2015] 371 ITR 32 5 (RAJ.) DECIDED ON 18 AUGUST 2017 AND THE JUDGEMENT OF TRIBUNAL DATED 4 TH MARCH, 2016 WHERE THE TRIBUNAL AFTER CONSIDERING THE AFORESAID JUDGEMENT HELD THE NET PR OFIT @ 11% IS ON HIGHER SIDE AND APPLIED NET PROFIT @ 5.5% . 7. IN THAT VIEW OF THE MATTER, IT WILL NOT BE USEFU L FOR THE PARTIES TO ADJOURN THE MATTER. ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 8 8. HENCE, IN VIEW OF THE ABOVE, THE ISSUE IS ANSWERED IN FAVOUR OF THE ASSESSEE AND AGAINST THE DEPARTMENT. 9. THE APPEAL STANDS DISMISSED. SINCE THE HON'BLE RAJASTHAN HIGH COURT HAS CONFIRME D THE APPLICATION OF NET PROFIT RATE @ 5.5% IN THE CASE OF THE ASSESS EE, THEREFORE, WE RESPECTFULLY FOLLOW THE DECISION OF JURISDICTIONAL HIGH COURT (SUPRA) AND APPLY THE NET PROFIT RATE OF 5.5% . THUS GROUND NO. 2 OF THE ASSESSEE IS ALLOWED. 4.1 THE GROUND NO. 3 OF THE ASSESSEE IS REGARDING T HIRD PARTY INTEREST FROM NET PROFIT ESTIMATED. IT IS NOTED THAT THE LD. CIT(A) HAS REJECTED THIS GROUND OF APPEAL BY OBSERVING AS UNDER:- .THE ASSESSEE HAS CLAIMED THIRD PARTY INTEREST FROM THE NET PROFIT RATE ESTIMATED BUT ON VERIFICAT ION OF THE PAST HISTORY, IT IS FOUND THAT THE ASSESSEE NEVER C LAIMED THIRD PARTY INTEREST AGAINST THE NET PROFIT RATE AP PLIED BY THE ASSESSING OFFICER. THEREFORE, WE DO NOT FIND ANY ME RIT ON GROUND NO. 4 OF THE ASSESSEE'S APPEAL. 4.2 AFTER HEARING BOTH THE PARTIES AND PERUSING THE MATERIALS AVAILABLE ON RECORD, IT IS OBSERVED THAT THE SIMILAR ISSUE IN THE CASE OF THE ASSESSEE IN ITA NO. 60/JP/2016 FOR THE ASSESSMENT YEAR 2010- 11 VIDE ORDER ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 9 DATED 29-07-2016 WAS ALLOWED BY ITAT JAIPUR BENCH B Y OBSERVING AS UNDER:- 3.3 I HAVE HEARD THE RIVAL CONTENTIONS AND PERUSE D THE MATERIALS AVAILABLE ON RECORD. CONSIDERING ALL SCENARIO OF THE CASE, I FEEL THAT HON'BLE JURISDICTIONAL HIGH C OURT IN THE CASE OF CIT VS. BHAWAN PATH NIRMAN (BOHRA) AND CO. (SUPRA) HAS ALLOWED THE INTEREST TO THIRD PARTIES. THE HELD PORTION OF THE JUDGMENT IS REPRODUCED AS UNDER:- HELD, DISMISSING THE APPEAL, THAT THE TRIBUNAL LINK ED THE PROCESS OF ESTIMATING INCOME WITH THE PAST PRAC TICE FOLLOWED IN THE ASSESSEES CASE BY THE REVENUE ITSE LF CONSISTENTLY FOR FIVE YEARS PRIOR TO THE RELEVANT Y EARS IN QUESTION. IN THIS CASE THE VERY FOUNDATION OF FIXIN G THE NET PROFIT RATE HAD BEEN THE AVERAGE NET PROFIT RATE AS HAD BE EN APPLIED BY THE REVENUE IN THE PAST CONSISTENTLY SINCE THE A SSESSMENT YEAR 1989-90 AND WHICH HAD BEEN FOLLOWED IN DETERMINING THE TAXABLE INCOME OF THE ASSESSEE YEAR AFTER YEAR. IN THE NET PROFIT SO FIXED THE ELEMENT OF DEPRECIATION ON THE FIXED A SSET AND INTEREST ON BORROWINGS HAD NOT BEEN TAKEN INTO CONS IDERATION IN DETERMINING THE NET PROFIT RATE. CONSEQUENTLY, THE TRADING RESULT OBTAINED BY APPLYING SUCH NET PROFIT RATE NEEDED FU RTHER APPROPRIATION TOWARDS ALLOWABLE DEPRECIATION AND IN TEREST ON BORROWINGS. THE TRIBUNAL WAS RIGHT IN MODIFYING THE ORDER PASSED BY THE ASSESSING AUTHORITY BY MAKING THE NET PROFIT RATE SUBJECT TO ADJUSTMENT TOWARDS DEPRECIATION AND INTE REST ON BORROWINGS. THIS CONCLUSION WAS A PURE FINDING OF F ACT AND WOULD NOT GIVE RISE TO A QUESTION OF LAW MUCH LESS A SUBSTANTIAL QUESTION OF LAW. IN VIEW OF THE ABOVE DECISION OF HON'BLE JURISDICTI ONAL HIGH COURT, I FEEL THAT THE INTEREST TO THIRD PARTIES SH OULD BE ALLOWED. HENCE, GROUND NO. 2 OF THE ASSESSEE IS ALL OWED. ITA NO.1024/JP/2017 M/S. GUPTA K.N. CONSTRUCTION CO. VS DCIT, CIRCLE 7, JAIPUR 10 SINCE THE SIMILAR ISSUE OF THIRD PARTY INTEREST HAD BEEN ALLOWED BY ITAT JAIPUR BENCH (SUPRA), THEREFORE, FOLLOWING THE DECI SION OF ITAT JAIPUR BENCH (SUPRA), WE DIRECT TO ALLOW THIRD PARTY INTER EST TO THE ASSESSEE PROVIDED THE INCOME SHALL NOT GO BELOW THE RETURNE D INCOME. 5.0 IN THE RESULT, THE APPEAL OF THE ASSESSEE IS A LLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 -06-2018 . SD/- SD/- FOT; IKY JKO HKKXPUN (VIJAY PAL RAO) ( BHAGCHAND) U;KF;D LNL; / JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 20 /06/ 2018 *MISHRA VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- M/S. GUPTA K.N. CONSTRUCTION CO., J AIPUR 2. IZR;FKHZ@ THE RESPONDENT- THE DCIT, CIRCLE 7, JAIPUR 3. VK;DJ VK;QDRVIHY@ CIT(A). 4. VK;DJ VK;QDR@ CIT, 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO.1024 /JP/2017) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR