DCIT, UDAIPUR V. Shri Pradeep Lunawat Prop. M/s.Mahaveer Trading Co., UDAIPUR

ITA 259/JODH/2010

• Counselvise Citation: 25923314 RSA 2010
• Duration Of Justice: 1 year(s) 7 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 12-12-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 22-04-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUBHASH CHANDRA
• Assessee Lawyers: DEVENDRA MEHTA
• Keywords: Tax effect

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR (BEFORE SHRI R.K. GUPTA AND SHRI .N.L. KALR A ) ITA NO.259/JU/2010 ASSESSMENT YEAR : 2007-08 PAN: AACPL 3379 F THE DCIT VS. SHRI PRADEEP LUNAWAT CENTRAL CIRCLE-1 PROP: M/S. MAHAVEER TRADING CO , UDAIPUR E-263, MIA, MADRI, UDAIPUR (APPELLANT) (RESPONDENT) DEPARTMENT BY: SHRI SUBHASH CHANDRA ASSESSEE BY : SHRI DEVENDRA MEHTA DATE OF HEARING: 12-12-2011 DATE OF PRONOUNCEMENT: 16-12-2011 ORDER PER N.L. KALRA, AM:- THE REVENUE HAS FILED AN APPEAL AGAINST THE ORDER OF THE LD.CIT(A)-CENTRAL, UDIAPUR DATED 01-02-2010 FOR THE ASSESSMENT YEAR 20 07-08. 2.1 THE REVENUE IS AGGRIEVED ON ACCOUNT OF DELETION OF FOLLOWING ADDITIONS. 1. UNEXPLAINED EXCESS STOCK OF SOAP STONE CRUDE R S. 1,79,480/- 2. UNEXPLAINED STOCK OF DOLOMITE ONEX MARBLE RS. 2,93,735/- 3. ADDITION ON ACCOUNT OF SHORT STOCK OF SOAP STON E POWDER RS. 38,791/- 4. ADDITION ON ACCOUNT OF G.P. ON SALES OF SHORT S TOCK OF DOLOMITE RS. 31,017/- 5. UNEXPLAINED TRAVELLING EXPENSES RS. 7,25 5/- 6. DISALLOWANCE OUT OF INTEREST RS. 40,000/ - 7. DISALLOWANCE OF VARIOUS EXPENSES RS. 25, 000/- 2.2 THUS THE TOTAL ADDITIONS WHICH HAVE BEEN DELETE D BY THE LD.CIT(A) ARE TO THE EXTENT OF RS. 6.15 LACS. THE TAX RATE FOR INDIVIDUA L IS 30%. HENCE, THE TAX EFFECT IS LESS THAN RS. 2.00 LACS IN VIEW OF SECTION 268A OF THE A CT AND THE INSTRUCTIONS ISSUED BY THE 2 BOARD. WE THEREFORE, HOLD THAT THE APPEAL IS NOT MA INTAINABLE. ACCORDINGLY THE APPEAL OF THE REVENUE IS DISMISSED. 3.0 IN THE RESULT, THE APPEAL OF THE REVENUE IS DIS MISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 16 -12-2011. SD/- SD/- (R.K. GUPTA) (N.L. KALRA) JUDICIAL MEMBER ACCOUNTANT MEMBER JODHPUR DATED: 16/12/2011 MISHRA COPY TO: 1. THE DCIT, CENTRAL CIRCLE- 1, UDAIPUR 2. SHRI PRADEEP LUNAWAT, UDAIPUR 3.THE LD. CIT (A) BY ORDER 4.THE CIT 5.THE D/R 6.THE GUARD FILE (ITA NO. 259/JU/10) A.R.. ITAT: JODHPUR 3 4 5 6