Rajesh Kumar Jaiswal, Kolkata V. D.C.I.T.,Circle-32, Kolkata

ITA 104/KOL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 6635 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 18-07-2019
• Assessment Year: 2013-2014
• Appeal Filed On: 21-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NICHOLAS MURMU SRDR
• Assessee Lawyers: N KAUSHIK
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.104/KOL/2019 ASSESSMENT YEAR:2013-14 RAJESH KUMAR JAISWAL 5B, SHIBTALA LANE KOLKATA-700015 [ PAN NO.AFBPJ 7480 B ] / V/S . DCIT, CIRCLE-32 KOLKATA /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI N.KAUSHIK, CA /BY RESPONDENT SHRI NICHOLAS MURMU, SR-DR ADDL. CIT-DR /DATE OF HEARING 18-07-2019 /DATE OF PRONOUNCEMENT 31-07-2019 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2013-14 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-9, KOLKATAS O RDER DATED 11.12.2018 PASSED IN CASE NO.53/CIT(A)-9/CIR-32/2016-17/KOL INVOLVING PR OCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ONLY ISSUE INVOLVED IN THE INSTANT LIS IS TH AT OF CORRECTNESS OF THE LOWER AUTHORITIES ACTION TREATING THE ASSESSEES GOLD MET AL AND ORNAMENTS OF 18.62,736/- HIS INCOME. HIS ONLY ARGUMENT DURING THE COURSE OF HEAR ING IS THAT THE IMPUGNED SUM REPRESENTED THE FAIR VALUE OF DEALERS INCENTIVE IN GOLD COINS RECEIVED FROM PRINCIPAL M/S MADRAS CEMENT LTD. WHICH STOOD DULY CREDITED AS INCOME OR NET DISCOUNTED AND INCENTIVE IN THE PROFIT AND LOSS ACCOUNT. MY ATTENT ION IS INVITED TO THE ASSESSEES DETAILED PAPER BOOK RUNNING INTO 26 PAGES COMPRISIN G OF STATEMENT OF ACCOUNTS / AUDITORS REPORT, DETAILS OF NET DISCOUNT AND INCEN TIVES AS PER CREDIT SIDE OF THE PROFIT ITA NO.104/KOL/2018 A.Y. 2013-14 RAJESH KR. JAISWAL VS. DCIT, CIR-32,KOL. PAGE 2 AND LOSS ACCOUNT WHICH JEWELLERY AND ORNAMENTS LEDG ER FROM 01.04.2012 , 31.03.2013 AND THE CORRESPONDING CREDIT NOTES RECEIVED FROM M/ S MADRAS CEMENT LTD. THE CIT(A)S DETAILED DISCUSSION IN PARA-4.3 OF THE LOW ER APPELLATE ORDER MAKES IT CLEAR THAT ALL THE SAID DETAILS COULD NOT BE GOT VERIFIED FROM THE ASSESSING OFFICERS END. I THEREFORE DEEM IT APPROPRIATE TO RESTORE THE INSTAN T LIS BACK TO THE CIT(A) FOR AFRESH ADJUDICATION KEEPING IN MIND ALL THE ABOVE STATED D OCUMENTARY EVIDENCE AS PER LAW WITHIN THREE EFFECTIVE OPPORTUNITIES OF HEARING. TH IS ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN FOREGOING TERMS. 3. THIS ASSESEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 31/07/2019 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS - 31/07/2019 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-RAJESH KR. JAISWAL, 5B, SHIBTALA LANE, K OLKATA-15 2. /RESPONDENT-DCIT, CIR-32,KOLKATA 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ ',