ITO, Ward-3, Sriganganagar V. M/s. Aman Colonizers & Developers, Sriganganagar

ITA 139/JODH/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6122 (ITAT-JODHPUR)
• Duration Of Justice: 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 28-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K DAS JCIT AL REPRESENTATIVE
• Keywords: Business income; Tax effect
• Section: 40A(3); 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH (SMC), JODHPUR BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER ITA NO. 139/JODH/2018 (ASSESSMENT YEAR-2008-09 INCOME TAX OFFICER, WARD-3, SRI GANGANAGAR VS M/S AMAN COLONIZERS & DEVELOPERS A-1 MANSAROVAR COLONY SRIGANGANAGAR (APPELLANT) (RESPONDENT) PAN: AADAA4108M REVENUE BY SH. A. K. DAS (JCIT) DEPARTMENTAL REPRESENTATIVE ASSESSEE BY NONE DATE OF HEARING 16/07/2018 DATE OF PRONOUNCEMENT 18/07/2018 O R D E R PER: R.C. SHARMA, AM THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE CIT(A), BIKANER DATED 14/11/2017 FOR THE A.Y. 2 008-09 IN THE MATTER OF ORDER U/S 143(3) OF THE INCOME-TAX ACT, 1 961 [HEREINAFTER REFERRED TO AS THE ACT, FOR SHORT]. THE GROUNDS RAISED BY THE REVENUE IN APPEAL ARE REPRODUCED AS U NDER: 1. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE, THE LD. CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 10,94,056 /- MADE ON ACCOUNT OF BUSINESS INCOME FROM SELLING OF PLOTS. 2 ITA 139/JODH/2018 ITO, WARD-3, SHRI GANGANAGAR VS. M/S AMAN COLONIZE RS & DEVELOPERS, SRIGANGANAGAR 2. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) HAS ERRED IN DELETING THE ADDITION OF 7,69,990/- MA DE ON ACCOUNT OF DISALLOWANCE OF EXPENSES U/S 40A(3) OF THE IT ACT, 1961. 3. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 3,28,000/ - MADE ON ACCOUNT OF FORFEITURE OF AMOUNT FROM THE PERSON WHO HAD MADE A DVANCE DEPOSITS FOR PURCHASE OF PLOTS. 4. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 12,69,400 /- MADE ON ACCOUNT OF DIFFERENCE AMOUNT CREDIT IN CASH BOOK. 2. I HAVE GONE THROUGH THE ORDERS OF AUTHORITIES BELOW AND FOUND THAT TAX EFFECT IN RESPECT OF ADDITIONS DELETED BY CIT(A) IS BELOW RS. 20 LACS, ACCORDINGLY IN TERM OF CBDT CIRCULAR NO. 3/2018 DAT ED 11.07.2018 THIS APPEAL DESERVES TO BE DISMISSED ON THE GROUND OF LO W TAX EFFECT. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMIS SED. ORDER PRONOUNCED IN THE OPEN COURT ON 18/07/2018. SD/- [R.C. SHARMA] ACCOUNTANT MEMBER DATED : 18/07/2018 *GANESH KUMAR COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR 3 ITA 139/JODH/2018 ITO, WARD-3, SHRI GANGANAGAR VS. M/S AMAN COLONIZE RS & DEVELOPERS, SRIGANGANAGAR 6. GUARD FILE (ITA NO. 139/JODH/2018) ASSISTANT REGISTRAR JODHPUR BENCH