The ACIT, Circle-4, Surat V. Surya Exim Ltd., Surat

ITA 1933/AHD/2010

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 67556 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-08-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 07-08-2013
• Assessment Year: 2006-2007
• Appeal Filed On: 04-06-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K C MATHEWS
• Assessee Lawyers: S B VAIDYA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD BEFORE SHRI D.K. TYAGI, JUDICIAL MEMBER AND SHRI A. K. GARODIA, ACCOUNTANT MEMBER ITA NO. 1933/AHD/2010 A.Y: 2006-07 ACIT, CIRCLE 4, SURAT VS SURYA EXIM LTD. 3040, JASH TEX. & YARN MARKET, RING ROAD, SURAT PAN : AABCP4158J (ASSESSEE) (REVENUE) REVENUE BY : SHRI K. C. MATHEWS, SR. DR ASSESSEE(S) BY : SHRI S. B. VAIDYA, A.R. / // / DATE OF HEARING : 08/08/2013 / DATE OF PRONOUNCEMENT: 14/08/2013 / O R D E R PER A. K. GARODIA: THIS APPEAL IS FILED BY THE REVENUE AND IS DIRECTE D AGAINST THE ORDER OF LEARNED CIT -IV, SURAT DATED 24.02.2010 FOR A.Y. 20 06 07. 2. THE ONLY GRIEVANCE OF THE REVENUE IS REGARDING D ELETION OF THE ADDITION OF RS.21,81,206/- MADE BY THE A.O. ON ACCOUNT OF GP @ 5% ON THE ALLEGED UNACCOUNTED SALE OF RS.436,94,127/-. 3. LEARNED DR OF THE REVENUE SUPPORTED THE ASSESSME NT ORDER AND LEARNED AR FOR THE ASSESSEE SUPPORTED THE ORDER OF LEARNED CIT (A). 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PER USED THE MATERIAL AVAILABLE ON RECORD. WE FIND THAT A CLEAR FINDING IS GIVEN BY THE LEARNED CIT (A) ITA NO.1933/AHD/2010 - 2 - THAT THE ASSESSEE HAS CLEARLY SHOWN THAT THE DATA P ROVIDED IS INCOMPLETE, JUMBLED UP, INTERCHANGED AND VIRUS INFECTED. HE HA S ALSO GIVEN A FINDING THAT ASSESSEE HAS RECONCILED 70% DATA TO THE SATISFACTIO N OF THE A.O. ABOUT THE REMAINING DATA ALSO, HE HAS GIVEN A CLEAR FINDING THAT OUT OF THE DATA OF RS.436.24 LACS, AN AMOUNT OF RS.321.45 LACS IS IN R ESPECT OF SALES MADE TO VARIOUS PARTIES AS AGAINST WHICH SALES OF RS.1558.9 1 LACS IS RECORDED IN REGULAR BOOKS. HE HAS ALSO GIVEN A FINDING THAT AN AMOUNT OF RS.2.32 LACS IS IN RESPECT OF FREIGHT & OCTROI AND AN AMOUNT OF RXS.103.55 LAC S IS IN RESPECT OF UNSECURED LOAN & SHARE CAPITAL. ABOUT THESE TWO LATER AMOUNT S, HE HAS GIVEN A FINDING THAT THESE CANNOT BE CONSIDERED AS UNACCOUNTED SALES LEA VING ONLY RS.891,612/- BEING UNRECONCILED. ABOUT THIS ALSO, IT IS NOTED B Y HIM THAT THE ASSESSEE HAS CLAIMED IT AS CASH SALES. HE HAS ALSO GIVEN A FIND ING THAT THERE IS NO EVIDENCE OF UNACCOUNTED PURCHASE. NONE OF THESE FINDINGS OF LE ARNED CIT (A) COULD BE CONTROVERTED BY THE LEARNED DR OF THE REVENUE. HEN CE, WE DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER OF LEARNED CIT (A) . 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN OPEN COURT ON THE DATE MENTIONE D ON THE CAPTION PAGE. SD/- SD/- (D.K. TYAGI) (A.K. GARODIA) JUDICIAL MEMBER A CCOUNTANT MEMBER / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. !' / THE RESPONDENT. 3. #$#% ' '& / CONCERNED CIT 4. ' '&() / THE CIT(A)-III, AHMEDABAD 5. )*' %, ' ' % , ,-$ / DR, ITAT, AHMEDABAD 6. *./ 0 / GUARD FILE. / BY ORDER, //TRUE COPY// 1 11 1/ // /,' #2 ,' #2 ,' #2 ,' #2 ( DY./ASSTT.REGISTRAR) ' ' % ' ' % ' ' % ' ' % , , , , ,-$ ,-$ ,-$ ,-$ / ITAT, AHMEDABAD