Appeal details
Counselvise Citation
[2020] 111 COUNSELVISE.COM (IT) 2502 (ITAT-RANCHI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
3 month(s) 29 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
04-03-2020
Appeal Filed By
Assessee
Order Result
Partly Allowed
Bench Allotted
SMC
Assessment Year
2011-2012
Appeal Filed On
05-11-2019
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH SMC RANCHI BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.268/RAN/2019 ASSESSMENT YEAR:2011-12 DEEPAK KUMAR GUPTA NR. FOREST COLONY, POLYTECHNIC ROAD, DHANBAD [ PAN NO.ACLPG 2748 N ] / V/S . INCOME TAX OFFICER WARD-1(3), DHANBAD- 826001 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI DEVESH PODDAR, ADVOCATE /BY RESPONDENT SHRI AJAY KUMAR ADDL.CIT-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 2011-12 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-DHANBADS ORDE R DATED 21.08.2019 PASSED IN CASE NO.CIT(A), DHANBAD/10115/2017-18, INVOLVING P ROCEEDINGS U/S. 147 R.W.S. 144 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. LEARNED COUNSEL REPRESENTING ASSESSEE IS FAIR ENOUGH IN NOT PRESSING FOR HIS FORMER TWO SUBSTANTIVE GROUNDS CHALLENGING VALIDITY OF RE-OPENING AS WELL AS FDR ADDITION OF RS.48,000/-; RESPECTIVELY. ITA NO.268/RAN/2019 A.Y 2011-12 SH.DEEPAK KR. GUPTA VS. ITO WD-1(3) DHN PAGE 2 3. NEXT COMES THE SOLE SURVIVING ISSUE OF PROFIT RA TE ADDITION @ 3.78% RS.3,86,553/-; QUA THE ALLEGED DIFFERENCE IN TURNOVER OF RS.1,02,26,2 70/- TREATED AS ALLEGED CASH DEPOSITS. I NOTICE FROM PARA-9 OF THE ASSESSMENT ORDER THAT THE ASSESSING OFFICER HAS MADE IT CLEAR THAT TWO CREDIT INSTANCES OF RS.40,75,861/- AND RS.95,81,597/- REPRESENTED ASSESSEES WIFE SMT.NIRM ALA GUPTAS AS MANY PROPRIETORSHIP CONCERNS NAMELY M/S GANPATI SALES AN D ANIL ENTERPRISES ; RESPECTIVELY. THE AGGREGATE OF BOTH THESE SUMS VERY WELL EXCEEDS THE ALLEGED DIFFERENCE IN TURNOVER OF RS.1.02,26,270/- LEAVING NO SCOPE OF ANY SUCH PR OFIT ESTIMATION IN ASSESSEES HANDS SINCE NOT REPRESENTING THIS TAXPAYERS INCOME. I AC CORDINGLY DELETE THE SAME. NECESSARY COMPUTATION INCLUDING THAT OF INTEREST SH ALL FOLLOW AS PER LAW. 4. 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 DEEPAK KUMAR GUPTA, NR. FOREST COLON Y, POLYTECHNIC DHANBAD-8260 01 2. /RESPONDENT-ITO WD-1(3), AAYKAR BHAWAN, L.C. ROAD D HANBAD-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) ),
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