Imran Khan, Talcher V. ITO, Ward-2, Dhenkanal

ITA 367/CTK/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 7208 (ITAT-CUTTACK)
• Duration Of Justice: 3 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-01-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 24-01-2017
• Assessment Year: 2009-2010
• Appeal Filed On: 13-10-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: D K PRADHAN
• Assessee Lawyers: D K SHETH
• Section: 10

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK SMC BENCH, CUTTACK BEFORE SHRI N.S SAINI, ACCOUNTANT MEMBER ITA NO S .367, 368 & 369 /CTK/2016 ASSESSMENT YEAR S : 2009 - 10, 2010 - 11 & 2011 - 12 IMRAN KHAN GHANTAPADA, NEW FISH GODOWN, NEAR RAILWAY STATION, TALCHER . VS. ITO, WARD - 2, AMRAKUNJA, DHENKANAL. PAN/GIR NO. ARQPK 3999 P (APPELLANT ) .. ( RESPONDENT ) ASSESSEE BY : SHRI D.K.SHETH, AR REVENUE BY : SHRI D.K.PRADHAN, DR DATE OF HEARING : 24 /01/ 2017 DATE OF PRONOUNCEMENT : 24 /01/ 2017 O R D E R THESE ARE THE APPEAL S F ILED BY THE ASSESSEE AGAINST SEPARATE ORDER S OF CIT(A) - 2, BHUBANESWAR , ALL DATED 14.7.2016 , FOR THE ASSESSMENT YEAR S 2009 - 10, 2010 - 11 & 2011 - 12, RESPECTIVELY . ITA NO. 367 & 368 /CTK/2016 FOR A.Y S . 2009 - 10 & 2010 - 11 : 2. THE SOLE GROUND O F THE APPEAL FOR BOTH THE ASSESSMENT YEAR IS THAT THE CIT(A) ERRED IN DETERMINING THE NET PROFIT AT 2% ON THE TURNOVER, WHICH IS UNJUSTIFIED AND OTHERWISE HIGHLY EXCESSIVE . 2 ITA NOS .367,368 & 369 /CTK/2016 ASSESSMENT YEARS :2009 - 10, 2010 - 11 & 2011 - 12 3. AT THE TIME OF HEARING, LD A.R. OF THE ASSESSEE SUBMITTED THAT HE IS NOT PRESSIN G THIS GROUND OF APPEAL AND ALSO MADE AN ENDORSEMENT TO THIS EFFECT TO THE GROUNDS OF APPEAL APPENDED TO FORM NO.36 OF THE APPEAL MEMO FILED BEFORE THE TRIBUNAL. HENCE, SAME IS DISMISSED AS NOT PRESSED. ITA NO.369/CTK/2016 FOR A.Y. 2011 - 12: 4 . IN THIS APPEAL, THE SOLE GRIEVANCE OF THE ASSESSEE IS THAT THE CIT(A) IS NOT JUSTIFIED IN CONFIRMING THE NET PROFIT AS DETERMINED AT 2 .5 % ON THE TURNOVER. 5 . AT THE TIME OF HEARING, LD A.R. OF THE ASSESSEE SUBMITTED THAT THE CIT(A) HAS QUOTED IN PARA 2.1 O F HIS ORDER THAT THE ALTERNATIV E SUBMISSION OF THE ASSESSEE TO REDUCE THE PERCENTAGE OF PROFIT TO REASONABLE EXTENT OF 2 TO 2.5% ACCEPTABLE TO THE ASSESSEE. HE SUBMITTED THAT IN THE CASE OF KHUSIDA BIBI FOR THE ASSESSMENT YEARS 2009 - 10 TO 2011 - 12, THE CIT (A) HAS ESTIMATED THE NET PROFIT BY APPLYING THE RATE OF 2% AND WHILE ESTIMATING THE NET PROFIT IN THE CASE OF THE PRESENT ASSESSEE FOR THE A.Y. 2011 - 12, HE HAS APPLIED THE NET PROFIT AT 2.5%. HE FURTHER SUBMITTED THAT IN THE EARLIER ASSESSMENT YEARS 2009 - 10 & 2010 - 11, THE CIT(A) HAS APPLIED THE NET PROFIT AT 2% AND HENCE, THE NET PROFIT FOR THE PRESENT ASSESSMENT YEAR I.E. 2011 - 12 SHOULD BE APPLIED AT 2% ON THE TURNOVER. 6 . LD D.R. AGREED TO THE ABOVE SUBMISSION OF LD A.R. OF THE ASSESSEE. 3 ITA NOS .367,368 & 369 /CTK/2016 ASSESSMENT YEARS :2009 - 10, 2010 - 11 & 2011 - 12 7 . IN VIEW OF ABOVE SUBMISSION OF LD A.R. OF THE ASSESSEE, I MODIFY THE ORDER OF LD CIT(A) AND DIRECT THE ASSESSING OFFICER TO ASSESS THE INCOME OF THE ASSESSEE FROM TRADING OF FISH BY APPLYING THE NET PROFIT OF 2% ON THE TURNOVER. 8 . IN THE RESULT, APPEALS F OR ASSESSMENT YEARS 2009 - 10 & 2010 - 11 ARE DISMISSED AND APPEAL FOR ASSESSMENT YEAR 2011 - 12 IS PARTLY ALLOWED. ORDER PRONOUNCE D IN THE OPEN COURT ON 24 / 01/2017 IN THE PRESENCE OF PARTIES. SD/ - ( N.S SAINI) A CCOUNTANT MEMBER CUTTACK; DATED 24 /01 /2017 B.K.PARIDA, SPS COPY OF THE ORDER FORWARDED TO : BY ORDER, ASST.REGISTRAR, ITAT, CUTTACK 1. THE APPELLANT : IMRAK KHAN , GHANTAPADA, NEW FISH GODOWN, NEAR RAILWAY STATION, TALCHER. 2. THE RESPONDENT. ITO, WARD - 2, AMRAKUNJA, DHENKANAL. 3. THE CIT(A) CUTTACK 4. PR. CIT , CUTTACK 5. DR, ITAT, CUTTACK 6. GUARD FILE. //TRUE COPY//