GANGA SINGH, Jaipur V. DCIT, CIRCLE-6, Jaipur

ITA 342/JPR/2011

• Counselvise Citation: 34223114 RSA 2011
• Duration Of Justice: 5 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2011
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 18-04-2011
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: D K MEENA

Judgement Text

1 ITA 342-11 IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH B JAIPUR BEFORE SHRI R.K. GUPTA AND SHRI N.L. KALRA ITA NO. 342/JP/2011 ASSTT. YEAR : 2005-06. SHRI GANGA SINGH, VS. THE DCIT, CIRCLE-6, PROP. M/S. VRINDAVAN CONSTRUCTION CO., JAIPUR. 287/390, JADON NAGAR, OPP. DURGAPURA RAILWAY STATION, JAIPUR. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAJEEV SOGANI RESPONDENT BY : SHRI D.K. MEENA DATE OF HEARING : 15.9.2011 DATE OF PRONOUNCEMENT : 23.9.2011 ORDER DATE OF ORDER : 23/09/2011. PER R.K. GUPTA, J.M. THIS IS AN APPEAL BY ASSESSEE AGAINST THE ORDER OF LD. CIT (A) RELATING TO ASSESSMENT YEAR 2005-06. 2. GROUND NO. 3 IS IS AGAINST CONFIRMING ADDITION U NDER SECTION 40 (A)(IA) WAS NOT PRESSED, THEREFORE, THE SAME IS DISMISSED AS NOT PR ESSED. 3. REMAINING GROUND IS AGAINST CONFIRMING THE ADDIT ION OF RS. 8,96,223/- BY APPLYING NP RATE OF 8% AGAINST NP RATE OF 4.89%. 2 4. THE AO APPLIED NP RATE OF 8% AND APPLICATION OF 8% HAS BEEN CONFIRMED BY LD. CIT (A). BEFORE TRIBUNAL, IT WAS SUBMITTED THAT IN SUBSEQUENT YEAR ALSO THE AO APPLIED NP RATE OF 8% AND NP RATE OF 8% WAS CONFIRMED BY LD . CIT (A). 4.1. ON SECOND APPEAL BEFORE THE TRIBUNAL, THE TRIB UNAL HAS ALLOWED THE APPEAL OF THE ASSESSEE IN PART BY RESTRICTING THE TRADING ADDITIO N TO RS. 50,000/- ON SIMILAR FACTS. COPY OF ORDER DECIDED IN ITA NO. 43/JP/2010 DATED 30.12. 2010 WAS ALSO FILED. 5. ON THE OTHER HAND THE LD. D/R PLACED RELIANCE ON THE ORDER OF LD. CIT (A). 6. AFTER CONSIDERING THE ORDERS OF THE AO AND LD. C IT (A) AND THE ORDER OF TRIBUNAL FOR SUBSEQUENT YEAR I.E. 2006-07, WE NOTED THAT ON SIMILAR FACTS THE TRADING ADDITION WAS CONFIRMED AT RS. 6,38,238/- BY LD. CIT (A) AGAINST TRADING ADDITION OF RS. 9.23 LACS MADE BY THE AO. ON SECOND APPEAL BEFORE THE TRIBUNAL, T HE TRIBUNAL AFTER CONSIDERING THE DETAILED SUBMISSIONS AND OTHER MATERIAL ON RECORD F OUND THAT IF A TRADING ADDITION OF RS. 50,000/- IS SUSTAINED THAT WILL MEET THE ENDS OF JU STICE. 7. FACTS AND CIRCUMSTANCES ARE SIMILAR IN THE YEAR UNDER CONSIDERATION, THEREFORE, IN VIEW OF THE DECISION OF TRIBUNAL FOR THE ASSESSMENT YEAR 2006-07, WE CONFIRM THE TRADING ADDITION FOR THE YEAR UNDER CONSIDERATION ALSO. TH IS GROUND OF THE ASSESSEE IS ALLOWED IN PART. 8. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED IN PART. 9. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 23. 9.2011. SD/- SD/- ( N.L. KALRA ) ( R.K. GUPTA ) ACCOUNTANT MEMBER JUDICIAL MEMBER JAIPUR, D/- 3 COPY FORWARDED TO :- SHRI GANGA SINGH, JAIPUR. THE DCIT, CIRCLE-6, JAIPUR. THE CIT (A) THE CIT THE D/R GUARD FILE (ITA NO. 342/JP/2011) BY ORDER, AR ITAT JAIPUR.