Sri Sunil Kumar Singh, Dhanbad V. ITO,Ward-1(2), Dhanbad

ITA 26/RAN/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 2510 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 1 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-03-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 21-01-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH SMC RANCHI BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.26/RAN/2019 ASSESSMENT YEAR:2015-16 SHRI SUNIL KUMAR SINGH C/O R.K.PATNIA & CO. 1 ST , FLOOR, RATHORE MANSIONS BANK MORE DHANBAD-826001 [ PAN NO.CPKPS 2294 R ] / V/S . INCOME TAX OFFICER WARD-1(2), DHANBAD- 826001 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI DEVESH PODDAR, ADVOCATE /BY RESPONDENT SMT. NISHA ORAON SINGHMARR, JCIT-DR /DATE OF HEARING 04-03-2020 /DATE OF PRONOUNCEMENT 04-03-2020 /O R D E R (ORAL) THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2015-16 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-DHANBADS ORDE R DATED 19.09.2018 PASSED IN CASE NO.CIT(A), DHANBAD/10110/2017-18, INVOLVING P ROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLITARY GRIEVANCE RAISED IN THE INSTANT LIS CHALLENGES BOTH THE LOWER AUTHORITIES ACTION ENHANCING HIS NET PROFIT RATIO FROM 0.98% TO 2.75% CULMINATING IN ADDITION OF RS.9,01,180/-. THEY HAVE ALSO ADOPTED SAME COMPARABLE CASE(S) AS WELL FOR MAKING THE IMPUGNED ADDITION. I NOTICE IN THIS BACKDROP OF FACTS THAT NEITHER THE ASSESSEE HAS BEEN ABLE TO PROVE IT S IMPUGNED SO-CALLED LOWER PROFIT ITA NO.26/RAN/2019 A.Y 2015-16 SH. SUNIL KR.SINGH VS. ITO WD-1(2) DHN PAGE 2 RATE OF 0.98% BY INCURRING THE CORRESPONDING EXPENS ES AND PROVED BY THE RELEVANT COGENT EVIDENCES NOR THERE IS ANY INDICATION THAT T HE LOWER AUTHORITIES HAVE NOTICED ANY SPECIFIC IRREGULARITY IN THE BOOKS OF ACCOUNT F ORMING PART OF RECORDS. I THEREFORE DEEM IT APPROPRIATE THAT NEITHER PARTYS STAND DESE RVES TO BE UPHELD IN ENTIRETY. I ACCORDINGLY RESTRICT THE IMPUGNED ADDITION OF RS.9, 01,180/- TO A LUMP SUM FIGURE OF RS.3,00,000/- ONLY WITH A RIDER THAT THE SAME SHALL NOT BE TREATED AS A PRECEDENT IN ANY OTHER CASE. NECESSARY COMPUTATION INCLUDING THAT OF INTEREST SHALL FOLLOW AS PER LAW. 3. THIS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOV E TERMS. ORDER PRONOUNCED IN OPEN COURT AT THE CLOSE OF HE ARING ON WEDNESDAY , 4 TH MARCH, 2020 SD/- ( #) (S.S. GODARA) JUDICIAL MEM BER *DKP/SR.PS % - 04/03/2020 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SRI SUNIL KR. SINGH C/O R.K. PATNIA &CO. 1 ST FLOOR, RATHORE MANSION BANK M ORE, DHANBAD-826001 2. /RESPONDENT-ITO WD-1(2), DHANBAD-826001 3. ) , / CONCERNED CIT 4. , - / CIT (A) 5. - ) , ) / DR, ITAT, RANCHI 6. 1 / GUARD FILE. BY ORDER/ , /TRUE COPY/ SR. PRIVATE SECRETARY/P.S (ON TOUR) ),