ACIT, Calicut V. M.Abdul Gadhafi, Kannur

ITA 121/COCH/2011

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 61513 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 3 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-05-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 14-02-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S R SENAPATI
• Assessee Lawyers: VANDANA

Judgement Text

1 ITA NO. 434/COCH/2010 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.R.S. GANESAN (JM) AND SHRI B.R. BASKARA N(AM) I.TA NO. 118. 119, 120 & 121/COCH/2011 (ASSESSMENT YEARS 2003-04, 2005-06, 2006-07 & 2007-08) THE A.C.I.T., CENT.CIR. VS SHRI M ABDUL GADHAFI CALICUT 51, M.C. RIVERSIDE ENCLAVE THALASSERY, KANNUR 670 101 PAN : ADJPG5670Q (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI S.R. SENAPATI RESPONDENT BY : SMT. VANDANA DATE OF HEARING : 24-04-2012 DATE OF PRONOUNCEMENT : 25-05-2012 O R D E R PER N.R.S. GANESAN (JM) ALL THE ABOVE APPEALS OF THE REVENUE ARE DIRECTED AGAINST THE INDEPENDENT ORDERS OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-I, KOCHI ALL DATED 25-11-2010 FOR THE ASSESSMENT YEARS 2003-04, 2005-06, 2006-07 & 2 007-08. 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS ESTIM ATION OF PROFIT. 3. WE HEARD THE LD.DR, SHRI SR SENPATI AND THE LD.C OUNSEL FOR THE ASSESSEE SMT. VANDANA. 2 ITA NO. 434/COCH/2010 4. DURING THE COURSE OF HEARING IT WAS BROUGHT TO T HE NOTICE OF THE BENCH THAT FOR THE VERY SAME ASSESSMENT YEAR WHILE CONSIDERING THE APPEALS FILED BY THE ASSESSEE IN ITA NOS.140 TO 146/COCH/2011, THE TRIBU NAL BY AN ORDER DATED 30-11- 2011, CONFIRMED THE PROFIT ESTIMATED BY THE COMMISS IONER OF INCOME-TAX(A) AT 11%. THE LD.COUNSEL FOR THE ASSESSEE HAS PRODUCED THE COPY OF THE ORDER OF THIS TRIBUNAL IN THE DEPARTMENTAL APPEAL NOS 140 TO 146/ COCH/2011 ORDER DATED 30- 11-2011. SINCE THIS TRIBUNAL HAS CONFIRMED THE ORDE RS OF THE COMMISSIONER OF INCOME-TAX (A) ESTIMATING THE PROFIT AT 11% OF THE T URNOVER ON THE BASIS OF THE PROFIT RATIO OF THE EARLIER YEAR, WE DO NOT FIND AN Y INFIRMITY IN THE ORDERS OF THE LOWER AUTHORITY. ACCORDINGLY THE ORDERS OF THE COM MISSIONER OF INCOME-TAX (A) ARE CONFIRMED. 5. IN THE RESULT, THE APPEALS OF THE REVENUE STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 25 TH DAY OF MAY, 2012. SD/- SD/- (B.R. BASKARAN) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN, DT : 25 TH MAY, 2012 PK/- COPY TO: (TRUE COPY) BY ORDER ASSTT. REGISTRAR, INCOME-TAX APPELLATE TRIBUNAL, COCHIN BENCH