The Gwalior Forest Products Ltd., Shivpuri V. A.C.I.T., Gwalior

ITA 193/AGR/2014

• Counselvise Citation: [2016] 134 COUNSELVISE.COM (IT) 0009 (ITAT-AGRA)
• Duration Of Justice: 1 year(s) 6 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 21-07-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE : SHRI BHAVNESH SAINI, JUDICIAL MEMBE R AND MRS. ANNAPURNA MEHROTRA, ACCOUNT ANT MEMBER ITA NO. 193/AGRA/2014 ASSTT. YEAR : 2008-09 THE GWALIOR FOREST PRODUCTS LTD., VS. A.C.I.T., GW ALIOR. P.O. KATTHA MILL, A.B. ROAD, SHIVPURI (M.P.) [PAN: AABCT 1074 H] (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAJENDRA SHARMA, ADVOCATE RESPONDENT BY : SHRI WASEEM ARSHAD, SR. DR DATE OF HEARING : 28.01.2016 DATE OF PRONOUNCEMENT : 01.02.2016 ORDER PER BHAVNESH SAINI, JUDICIAL MEMBER: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A), GWALIOR DATED 20.05.2014 FOR THE ASSESSMENT YEAR 20 08-09, CHALLENGING THE ADDITION OF RS.50,560/-. 2. THE ASSESSEE HAS DEBITED EXPENSES OF RS.5,05,605 /- UNDER THE HEAD TRUCK REPAIRS AND MISCELLANEOUS EXPENSES. THE AO DISALLOWED 15% OF THESE EXPENSES ON THE GROUND THAT COMPLETE VOUCHERS OF TH E EXPENSES WERE NOT PRODUCED. THEREFORE, THE EXPENSES REMAINED UNVERIFI ABLE. ACCORDING TO THE AO THESE FACTS WERE ADMITTED BY THE LD. COUNSEL FOR TH E ASSESSEE BEFORE THE AO. THE ASSESSEE CHALLENGED THE ADDITION BEFORE THE LD. CIT(A) AND IT WAS ITA NO.193/AGRA/2014 2 SUBMITTED THAT AS AGAINST THE EARLIER YEARS, LESSER EXPENSES HAVE BEEN CLAIMED AND SUBMITTED THAT EARLIER HISTORY OF THE ASSESSEE FOR DECLARING NET PROFIT RATE MAY BE CONSIDERED. THE LD. CIT(A) CONSIDERING THE E XPLANATION OF THE ASSESSEE AND HISTORY OF THE ASSESSEE, NOTED THAT THE DISALLO WANCES ARE ON HIGHER SIDE AND RESTRICTED THE DISALLOWANCE TO 10% OF THE EXPEN SES AND CONFIRMED THE ADDITION OF RS.50,560/-. 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS, WE DO N OT FIND ANY MERIT IN THIS APPEAL OF THE ASSESSEE. IT IS ADMITTED FACT THAT TH E ASSESSEE DID NOT PRODUCE COMPLETE VOUCHERS OF THE EXPENSES. THEREFORE, THE E XPENSES REMAINED UNVERIFIABLE. THE ASSESSEES COUNSEL ALSO ADMITTED THIS FACT BEFORE THE AO. THEREFORE, IN ABSENCE OF PRODUCTION OF COMPLETE VOU CHERS OF THE EXPENSES, THE ASSESSEE FAILED TO PROVE THAT THESE EXPENSES WERE I NCURRED WHOLLY AND EXCLUSIVELY FOR THE PURPOSE OF BUSINESS. THE LD. CI T(A) AFTER CONSIDERING THE PAST HISTORY OF THE ASSESSEE HAS ALREADY GRANTED RE ASONABLE RELIEF TO THE ASSESSEE BY REDUCING THE DISALLOWANCE FROM 15% TO 1 0%. IN THE ABSENCE OF ANY MATERIAL ON RECORD, WE ARE NOT INCLINED TO INTE RFERE WITH THE ORDER OF THE LD. CIT(A). 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON.. (ANNAPURNA MEHROTRA) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : *AKS/-