Haniffa, CHENNAI V. ITO, Tuticorin

ITA 23/CHNY/2016

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 7595 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-03-2016
• Appeal Filed By: Assessee
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 05-01-2016
• Court: TRIBUNAL
• Department Lawyers: A B KOLI JCIT
• Assessee Lawyers: R KUMAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI , ! . ' #$ BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G.PAVAN KUMAR, JUDICIAL MEMBER ./ I.T.A.NO.23 /MDS./2016 ( / ASSESSMENT YEAR :2008-09) SHRI HANIFFA, CONTRACTOR, 31,PAVALAR STREET, KAYATHAR, TUTICORIN DISTRICT VS. THE INCOME TAX OFFICER, WARD -1(1), TUTICORIN. PAN AAEPH 9318 Q ( %& / APPELLANT ) ( '(%& / RESPONDENT ) / APPELLANT BY : MR.R.KUMAR, C.A / RESPONDENT BY : MR.A.B.KOLI,JCIT, D.R ! / DATE OF HEARING : 10.03.2016 '# ! /DATE OF PRONOUNCEMENT : 24.03.2016 ) / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGA INST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX(A)-I, MAD URAI DATED 19.11.2015 PERTAINING TO THE ASSESSMENT YEAR 2008- 09 . ITA NO.23/MDS/2016 2 2. THE GRIEVANCE OF THE ASSESSEE IN THIS APPEAL IS WITH REGARD TO ESTIMATE THE INCOME BY AO AT 7.5% OF GROSS CONTRACT RECEIPTS AGAINST 3% NET PROFIT SHOWN BY THE ASSESSEE. 3. BEFORE US, THE LD.A.R SUBMITTED THAT THE ESTIMA TED NET INCOME AT 7.5% OF GROSS CONTRACT RECEIPT, WHICH IS VERY EX CESSIVE AND IT SHOULD BE REDUCED TO 6%. WE FIND THAT THERE IS NO BASIS FOR ESTIMATING THE INCOME OF ASSESSEE LESSER THAN 7.5% , EVEN UNDER PRESUMPTIVE TAX COMPUTED U/S.44AD, THE INCOME OF AS SESSEE IS TO BE ESTIMATED AT 8% OF THE TOTAL GROSS RECEIPT. BEING SO, THE AO ESTIMATING THE INCOME AT 7.5% OF GROSS RECEIPTS, WH ICH IS VERY REASONABLE AND THE SAME IS TO BE CONFIRMED. 4. IN THE RESULT, THE APPEAL OF ASSESSEE IS DISMISS ED. ORDER PRONOUNCED ON THURSDAY , THE 24 TH OF MARCH,2016 AT CHENNAI. SD/- SD/- ( . ) (G.PAVAN KUMAR) ( ( $% & ) ) ' CHANDRA POOJARI () JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE 24 TH MARCH,2016. K S SUNDARAM. ITA NO.23/MDS/2016 3 *+)),-).- /COPY TO: ) 1. /APPELLANT 2. /RESPONDENT 3. ) /)'( /CIT(A) 4. ) / /CIT 5. -01 )2 /DR 6. 13)4 /GF