ACIT, Jaipur V. JEWELS EMPORIUM, Jaipur

ITA 217/JPR/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99377 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 6 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-10-2015
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 21-03-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJ MEHRA
• Assessee Lawyers: RAJEEV SOGANI C A DHK
• Keywords: Opportunity of being heard

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH VKJ-IH-RKSYKUH] U;KF;D LNL; ,OA JH FOE FLAG ;KN O] YS[KK LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JM & SHRI VIKRAM SINGH YA DAV, AM VK;DJ VIHY LA-@ ITA NO. 217/JP/2014 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2009-10 . THE ASSTT. COMMISSIONER OF INCOME-TAX, CIRCLE-2, JAIPUR. CUKE VS. M/S. JEWELS EMPORIUM, M.I. ROAD, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AABFJ 1456 A VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT VK;DJ VIHY LA-@ C.O. NO. 11/JP/2014 (ARISING OUT OF ITA NO. 217/JP/2014) FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2009-10 . M/S. JEWELS EMPORIUM, M.I. ROAD, JAIPUR. CUKE VS. THE ASSTT. COMMISSIONER OF INCOME-TAX, CIRCLE-2, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AABFJ 1456 A VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS@ REVENUE BY : SHRI RAJ MEHRA (JCIT) FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI RAJEEV SOGANI (C.A.) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 19.10.2015. ?KKS'K .KK DH RKJH[K @ DATE OF PRONOUNCEMENT : 19/10/2015. VKNS'K@ ORDER PER SHRI R.P. TOLANI, J.M. THE APPEAL IS FILED BY THE REVENUE AND THE CROSS OB JECTION IS FILED BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT (A)-I, JA IPUR DATED 27.01.2014 2 ITA NO. 217/JP/2014 A.Y 2009-10 ACIT VS. JEWELS EMPORIUM, JAIPUR. FOR THE ASSESSMENT YEARS 2009-10. THE GROUND RAISED IN THE REVENUES APPEALS CHALLENGE THE PART RELIEF GIVEN BY LD. CIT (A) IN RESPECT OF BOGUS/UNVERIFIABLE PURCHASES ARE AS UNDER :- A.Y. ADDITION MADE BY AO ADDITION SUSTAINED BY CIT (A) 2009 - 10 18,53,295 / - 2,00,000 / - IN CORRESPONDING CROSS OBJECTIONS, GROUND RAISED BY THE ASSESSEE CHALLENGES THE REJECTION OF BOOKS OF ACCOUNT UNDER SECTION 145(3) IN A.Y. 2009-10 ONLY AND THE RETENTION OF BALANCE ADDITION BY LD. CIT (A). 2. THE LD. D/R AT THE OUT SET CONTENDS THAT THE ITA T IN BUNCH OF APPEALS BY CONSOLIDATED ORDER IN THE CASE OF ANUJ KUMAR VAR SHNEY & OTHERS VS. ITO DATED 22.10.2014 HAS HELD THAT 15% OF THE UNVER IFIABLE PURCHASES SHALL BE HELD TO BE INCOME OF THE ASSESSEE FROM UND ISCLOSED SOURCES IN THE RELEVANT YEARS. THEREFORE, THE APPEALS MAY BE DECID ED IN VIEW OF THE ITAT ORDER. AT THE SAME TIME IT IS PLEADED THAT BOTH TH E REVENUE AND ASSESSEE HAVE GONE IN APPEAL BEFORE HONBLE RAJASTHAN HIGH C OURT AGAINST THIS BUNCH OF ORDERS. 3 ITA NO. 217/JP/2014 A.Y 2009-10 ACIT VS. JEWELS EMPORIUM, JAIPUR. 3. THE LD. COUNSEL FOR THE ASSESSEE ON THE OTHER HA ND SUPPORTED THE ORDER OF LD. CIT (A) TO THE EXTENT OF RELIEF ALLOWE D BY LD. CIT (A) AND FOR THE BALANCE AMOUNT OF RS. 2,00,000/-, HE PRAYED THAT TH E SAME MAY BE DELETED. 4. AT THE END OF THE ARGUMENT, BOTH THE PARTIES AGR EED THAT THE ISSUE IN QUESTION MAY BE SET ASIDE TO THE FILE OF AO TO DECI DE THE SAME AFRESH AFTER THE JUDGMENT RENDERED IN THE CASE OF ANUJ KUMAR VAR SHNEY & OTHERS VS. ITO (SUPRA) BY HONBLE RAJASTHAN HIGH COURT, AFTER GIVING THE ASSESSEE A REASONABLE OPPORTUNITY OF BEING HEARD IN ACCORDANCE WITH LAW. 5. WE HAVE HEARD RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. WE FIND MERIT IN THE PROPOSAL OF BOTH THE PARTIES. ACCORDINGLY WE ARE INCLINED TO SET ASIDE THE ISSUE RAISED IN REVENUES APPEALS AS WELL AS IN ASSESSEES CROSS OBJECTIONS AND RESTORE THE MATTER BACK TO THE FILE OF AO TO DECIDE THE SAME AFRESH AFTER THE JUDGMENT OF HONBL E RAJASTHAN HIGH COURT IN THE CASE OF ANUJ KUMAR VARSHNEY & OTHERS VS. ITO (SUPRA) IS DELIVERED, AFTER GIVING ADEQUATE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. 4 ITA NO. 217/JP/2014 A.Y 2009-10 ACIT VS. JEWELS EMPORIUM, JAIPUR. 6. IN THE RESULT, REVENUES APPEAL AND THE CROSS FO R A.Y. 2009-10 ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 19/10/2015 . SD/- SD/- FOE FLAG ;KNO VKJ-IH-RKSYKUH (VIKRAM SINGH YADAV) (R.P.TOLANI) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 19/10/ 2015 DAS/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- THE ACIT, CIRCLE-2, JAIPUR. 2. THE RESPONDENT- M/S. JEWELS EMPORIUM, JAIPUR. 3. THE CIT(A). 4. THE CIT, 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (ITA NO.217(2)/JP/2014) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR