ACIT, Meerut V. M/s. Ranjeet Singh & Co., Meerut

ITA 1037/DEL/2011

• Counselvise Citation: [2011] 119 COUNSELVISE.COM (IT) 6605 (ITAT-DELHI)
• Duration Of Justice: 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 26-04-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 25-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SURJAM MOHANTY
• Keywords: Depreciation; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: F NEW DELHI BEFORE SHRI R.P.TOLANI, JM AND SHRI B.C.MEENA, AM ITA NO. 1035 TO 1038/DEL/2011 A.Y. 2004-05, 2005-06, 2006-07 AND 2007-08 ACIT, CIRCLE 2 VS. M/S RANJEET SINGH & CO. MEERUT 327, RAM V ATIKA, SHIVAJI ROAD MEERUT (APPELLANT) (RESPONDENT) APPELLANT BY : SMT. SURJAM MOHANTY, SR.D.R. RESPONDENT BY : NONE O R D E R PER BENCH ALL THESE APPEALS ARE ARISING OUT OF ORDER OF LD.CI T (A), MEERUT DATED 14.12.2010 PERTAINING TO A.YS. 2004-05, 2005 -06, 2006-07 AND 2007-08. THE GROUNDS OF APPEAL ARE COMMON IN ALL THE APPEALS EXCEPT THE DIFFERENCE IN THE FIGURES OF AMOUNT AND A.Y. T HE GROUNDS OF APPEAL IN ITA NO. 1035/DEL/2010 READ AS UNDER. 1. WHETHER IN THE FACTS AND CIRCUMSTANCES OF THE C ASE, THE LD.CIT(A) HAS ERRED IN LAW AND FACTS IN DELETING T HE ADDITION OF RS. 4,12,252/- MADE ON ACCOUNT OF NET PROFIT FOLLOW ING THE DECISION OF HONBLE ITAT, DELHI BENCH IN THE ASSESS EES OWN CASE FOR A.Y. 2001-02 AND 2002-03 IN ITA NOS. 4661 AND 4662 DT. 27.5.2005 IGNORING THE FACT THAT THE CASE IS EN TIRELY DIFFERENT ITA 4642/DEL/2010 PAGE 2 OF 3 SHRI RK BHATIA, NEW DELHI A.Y. 2006-07 AND DISTINGUISHABLE FROM THE DECISION OF THE HONBL E ITAT WHICH IS ON THE ISSUE OF ALLOWANCE OF DEPRECIATION FROM T HE ESTIMATED NET PROFITS WHEREAS THE INSTANT CASE IS THAT OF EST IMATION OF NET PROFIT. 2. IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE ORDER OF LD.CIT(A) MAY BE SET ASIDE AND THAT OF THE A.O. RES TORED. 2. NONE ATTENDED ON BEHALF OF THE ASSESSEE. LD.D.R . WAS HEARD. AFTER HEARING THE LD.D.R. WE FIND THAT THE LD.CIT(A) HAS GRANTED RELIEF ON THE BASIS OF DECISION OF HONBLE ITAT IN ASSESSEES OWN CASE IN ITA NO. A.Y. 2001-02 AND 2002-03 DT. 26.9.2005. THERE IS N O CHANGE IN THE FACTS OF THE CASE. IN VIEW OF THIS MATTER THE ISSUE IS COVERED BY THE DECISION OF HONBLE ITAT CITED SUPRA. RESPECTFULLY FOLLOWING T HE SAME WE SUSTAIN THE ORDER OF LD.CIT(A) AND DISMISS REVENUES APPEAL IN ALL THE FOUR A.YS. WE WOULD ALSO LIKE TO MENTION THAT IN ITA 1035/DEL/20 11 AND 1036/DEL/2011 ARE ALSO NOT ALLOWABLE ON ACCOUNT OF LOW TAX EFFECT. 3. IN THE RESULT, ALL THE FOUR APPEALS FILED BY THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH APRIL,2011. SD/- SD/- (R.P.TOLANI) (B.C.MEENA) JUDICIAL MEMBER ACCOUNTANT MEMB ER DATED: 26TH APRIL, 2011 *MANGA COPY OF THE ORDER FORWARDED TO: ITA 4642/DEL/2010 PAGE 3 OF 3 SHRI RK BHATIA, NEW DELHI A.Y. 2006-07 1. APPELLANT; 2.RESPONDENT; 3.CIT; 4.CIT (A); 5.DR 6.GUARD FILE BY ORDER DY. REGISTRAR // TRUE COPY //