Basant Lal Uppal, Rohtak V. ITO, Rohtak

ITA 4901/DEL/2010

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 4740 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 9 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2013
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 08-08-2013
• Assessment Year: 2007-2008
• Appeal Filed On: 09-11-2010
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: BHIM SINGH
• Assessee Lawyers: RAJESH CHAWLA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI DELHI DELHI BENCH BENCH BENCH BENCH A AA A : NEW DELHI : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI G. BEFORE SHRI G. BEFORE SHRI G. BEFORE SHRI G.D.AGRAWAL, D.AGRAWAL, D.AGRAWAL, D.AGRAWAL, VICE PRESIDENT AND VICE PRESIDENT AND VICE PRESIDENT AND VICE PRESIDENT AND SHRI SHRI SHRI SHRI A.D.JAIN A.D.JAIN A.D.JAIN A.D.JAIN, ,, , JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER JUDICIAL MEMBER ITA NO. ITA NO. ITA NO. ITA NO.4901/DEL/2010 4901/DEL/2010 4901/DEL/2010 4901/DEL/2010 ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR ASSESSMENT YEAR : : : : 2007 2007 2007 2007- -- -08 0808 08 SHRI BASANT LAL UPPAL, SHRI BASANT LAL UPPAL, SHRI BASANT LAL UPPAL, SHRI BASANT LAL UPPAL, H.NO.524/2, H.NO.524/2, H.NO.524/2, H.NO.524/2, SALARA MOHALLA, SALARA MOHALLA, SALARA MOHALLA, SALARA MOHALLA, ROHTAK ROHTAK ROHTAK ROHTAK 1 1 1 124 001. 24 001. 24 001. 24 001. HARYANA. HARYANA. HARYANA. HARYANA. PAN : AAKPU2941A. PAN : AAKPU2941A. PAN : AAKPU2941A. PAN : AAKPU2941A. VS. VS. VS. VS. INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -1, 1,1, 1, ROHTAK. ROHTAK. ROHTAK. ROHTAK. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAJESH CHAWLA, CA. RESPONDENT BY : SHRI BHIM SINGH, SR.DR. ORDER ORDER ORDER ORDER PER G. PER G. PER G. PER G.D.AGRAWAL, D.AGRAWAL, D.AGRAWAL, D.AGRAWAL, VP VPVP VP : : : : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF LEARNED CIT(A), ROHTAK DATED 9 TH SEPTEMBER, 2010 FOR THE AY 2007-08. 2. THE ASSESSEE HAS RAISED VARIOUS GROUNDS OF APPEA L. HOWEVER, THEY ARE ALL AGAINST THE ADDITION OF ` 1,16,650/- SUSTAINED BY THE LEARNED CIT(A). THE FACTS OF THE CASE ARE THAT THE ASSESSEE DERIVES INCOME FROM TRADING OF CATTLE AS WELL AS COMMISSION INCOME FROM THE SALE OF CATTLE. THE ASSESSEE FILED RETURN DECLARIN G TOTAL INCOME OF ` 95,000/-. THE ASSESSING OFFICER FOUND THAT THERE W AS TOTAL CREDIT IN THE ASSESSEES BANK ACCOUNT AMOUNTING TO ` 15,47,500/-. HE CONSIDERED THE SAME AS THE TURNOVER OF THE ASSESSEE AND ESTIMATED THE PROFIT AT 20%. ACCORDINGLY, THE INCOME WAS DET ERMINED AT ` 3,09,500/- AS AGAINST ` 95,000/- DISCLOSED BY THE ASSESSEE. ON APPEAL, LEARNED CIT(A) REDUCED THE RATE OF NET PROFIT TO 14 % AND THUS, THE INCOME WAS WORKED OUT AT ` 2,16,650/- AS AGAINST ` 95,000/- DISCLOSED ITA-4901/DEL/2010 2 BY THE ASSESSEE. THE ASSESSEE, AGGRIEVED WITH THE ORDER OF LEARNED CIT(A), IS IN APPEAL BEFORE US. 3. WE HAVE HEARD BOTH THE SIDES AND PERUSED THE MAT ERIAL PLACED BEFORE US. AFTER CONSIDERING THE FACTS AND CIRCUMS TANCES OF THE CASE AND THE ARGUMENTS OF BOTH THE SIDES, IN OUR OPINION , IT WOULD MEET THE ENDS OF JUSTICE IF THE NET INCOME OF THE ASSESSEE I S ESTIMATED AT ` 1,50,000/- AS AGAINST ` 95,000/- DISCLOSED BY THE ASSESSEE. WE ORDER ACCORDINGLY. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS PAR TLY ALLOWED. DECISION PRONOUNCED IN THE OPEN COURT ON 27 TH AUGUST, 2013. SD/- SD/- ( (( (A.D.JAIN A.D.JAIN A.D.JAIN A.D.JAIN) )) ) (G.D.AGRAWAL) (G.D.AGRAWAL) (G.D.AGRAWAL) (G.D.AGRAWAL) JUDI JUDI JUDI JUDICIAL CIAL CIAL CIAL MEMBER MEMBER MEMBER MEMBER VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT VICE PRESIDENT DATED : 27.08.2013 VK. COPY FORWARDED TO: - 1. APPELLANT : SHRI BASANT LAL UPPAL, SHRI BASANT LAL UPPAL, SHRI BASANT LAL UPPAL, SHRI BASANT LAL UPPAL, H.NO.524/2, SALARA MOHALLA,ROHTAK H.NO.524/2, SALARA MOHALLA,ROHTAK H.NO.524/2, SALARA MOHALLA,ROHTAK H.NO.524/2, SALARA MOHALLA,ROHTAK 124 001. 124 001. 124 001. 124 001. HARYANA. HARYANA. HARYANA. HARYANA. 2. RESPONDENT : INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, INCOME TAX OFFICER, WARD WARD WARD WARD- -- -1, ROHTAK. 1, ROHTAK. 1, ROHTAK. 1, ROHTAK. 3. CIT 4. CIT(A) 5. DR, ITAT ASSISTANT REGISTRAR