Ms. Sheetal Arora, New Delhi V. JCIT, New Delhi

ITA 4800/DEL/2014

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 7072 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-06-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC 3
• Next Hearing Date: 27-06-2016
• Assessment Year: 2007-2008
• Appeal Filed On: 04-09-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: P DAM KANUNJAN

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH SMC - 3 , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO. 4800 /DEL/201 4 AY: 20 0 7 - 08 MS. SHEETAL ARORA VS. JCIT, RANGE 29 PROP. M/S OM SHEETAL OVERSEAS NEW DELHI 40/6, OM MARKET KATRA ISHWAR BHAWAN KHARI BAOLI NEW DELHI 110 006 PAN: AFDPA 1446 G (APPELLANT) (RESPONDENT) APPELLANT BY : SH. K.SAMPATH, ADV. AND SH.V.RAJA KUMAR, ADV. RESPONDENT BY : SH. P.DAM KANUNJAN, SR.D.R. ORDER THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF I NCOME T AX (A PPEALS ) - XXV, NEW DELHI PERTAINING TO THE A.Y. 2007 - 08 DATED 13.06.2014. 2. THE ASSESSEE IS CARRYING ON THE BUSINESS OF WHOLESALE TRADE IN DRY F RUITS AND OTHER KIRANA ITEMS IN HER PROPRIETORSHIP CONCERN UNDER THE NAME AND STYLE OF M/S SHEETAL O VERSEAS. 3. THE S OLE POINT FOR CONSIDERATION IS WHETHER THE ESTIMATION OF PROFIT BY THE LD.CIT (A) AT 4% OF THE TOTAL TURNOVER IS CORRECT. AFTER HEARING RIV A L CONTENTIONS I FIND THAT THE A SSESSING O FFICER IN THE ASSESSEE S OWN CASE FOR THE IMMEDIATELY PRECEDING A SSESSMENT Y EAR HAS ESTIMATED THE GROSS PROFIT AT 2.07%. I A M OF THE VIEW THAT INTEREST OF J USTICE WOULD BE MET IF THE GP RATE IS ESTIMATED AT 2.10% DURING THE CURRENT A SSESSMENT Y EAR. THE 2 A SSESSING O FFICER IS DIRECTED TO ADOPT THE GROSS PROFIT ACCORDINGLY. IN THE RESULT THE APPEAL OF THE ASSESSEE IS ALLOWED IN PART 4. IN THE RESULT, THE APPEAL BY THE ASSESSEE STANDS PARTLY ALLOWED. P RONOUNCED IN THE OPEN COURT ON 29 TH JUNE, 2016 . SD/ - (J.SUDHAKAR REDDY) ACCOUNTANT MEMBER DATED: THE 29 TH JUNE, 2016 *MANGA COPY OF THE ORDER FORWARDED TO: 1. APPELLANT; 2.RESPONDENT; 3.CIT; 4.CIT(A); 5.DR; 6.GUARD FILE BY ORDER ASST. REGISTRAR