Aktar Ali, Kolkata V. ITO, Ward-24(1), Hooghly, Hooghly

ITA 1919/KOL/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 1548 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-02-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 28-08-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SAURABH KUMAR CIT DR REVEN
• Assessee Lawyers: SAUMITRA CHOUDHURY

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, A CCOUNTANT M EMBER ] I.T.A. NO. 1919 / KOL/201 7 ASSESSMENT YEAR: 20 1 1 - 12 AKTAR ALI . . . ... APPELLANT ISWAR BAHA, SAHABGUNJ DISTRICT - HOOGHLY PIN 712 104 [PAN : AHDPA 2420 J ] INCOME TAX OFFICER, WARD - 2 4( 1 ), HOOGHLY . .. ... RESPONDENT G.T. ROAD CHINSURAH HOOGHLY - 712101 APPEARANCES BY: SHRI SAUMITRA CHOUDHURY, ADVOCATE , APPEAR ED ON BEHALF OF THE ASSESSEE. SHRI SAURABH KUMAR , ADDL. CIT , DR APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : FEBRUARY 5 TH , 201 8 DATE OF PRONOUNCING THE ORDER : FEBRUARY 14 TH , 201 8 O R D E R PER J. SUDHAKAR REDDY : - THIS APPEAL FILED BY THE ASSESSE E IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 6 , KOLKATA , (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 17 / 0 5 /2017. 2. THE ONLY ISSUE THAT IS ARGUED BEFORE ME IS THE PERCENTAGE OF NET PROFIT THAT HAS TO BE APPLIED ON THE UNDISPUTED UNDISCLOSED SALES OF THE ASSESSEE. THE ASSESSING OFFICER ESTIMATED THE NET PROFIT AT 17.5 PER CENT. THE ASSESSEE SUBMITS THAT THE PROFIT IS NOT MORE THAN 8 PER CENT. A COPY OF THE LETTER FRO M THE ADVOCATE AND TAX CONSU LTANT, MR. SUMAN RAY, FILED BEFORE THE REVENUE AUTHORITIES IS PRODUCED BEFORE US AND IT WAS SUBMITTED THAT DUE TO THE MISTAKES COMMITTED BY THE ADVOCATES AND TAX CONSULTANTS, THESE DISCREPANCIES HAVE CREPT IN AND RESULTANTLY, TH E ASSESSEE HAS SUFFERED FOR NO FAULT OF HIS OWN. 3. AFTER HEARING RIVAL SUBMISSIONS, I AM OF THE CONSIDERED OPINION THAT INTEREST OF JUSTICE WOULD BE MET IF NET PROFIT ON UNDISCLOSED SALE IS 2 I.T.A. NO. 2103/KOL/2017 ASSESSMENT YEAR: 2010 - 11 M/S. ARIHANT NIDHI ESTIMATED AT 10 PER CENT OF SUCH SALES. WITH THESE DIRECTIONS, I SET ASIDE THIS ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR COMPUTING THE NET PROFIT AT 10 PER CENT OF THE UNDISCLOSED SALES. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. KOLKATA, THE 14 TH DAY OF FEBRU ARY , 201 8 . SD/ - [ J. SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 14 . 0 2 .201 8 {SC SPS} C OPY OF THE ORDER FORWARDED TO: 1. M/S. ARIHANT NIDHI 3A, MANGOE LANE 1 ST FLOOR KOLKATA 700 001 2. INCOME TAX OFFICER, WARD - 34(2), KOLKATA 110, SHANTIPALLY AYAKAR BHAWAN POORVA KOLKATA 700 107 3. CIT(A) - 4. CIT - , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY HEAD OF OFFICE/ D.D.O. ITAT, KOLKATA BENCHES 3 I.T.A. NO. 2103/KOL/2017 ASSESSMENT YEAR: 2010 - 11 M/S. ARIHANT NIDHI