SUBASH CHANDRA SETHY, KENDRAPARA V. ITO, WARD- KENDRAPARA, AT- DUHURIA BAZAR, KENDRAPARA

ITA 5/CTK/2024

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 2291 (ITAT-CUTTACK)
• Duration Of Justice: 4 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-05-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2017-2018
• Appeal Filed On: 05-01-2024
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BEFORE Subash Chandra Sethi, Juidaspur Pandiri, Kendrapara PAN/GIR No (Appellant Per R.K.Panda, Vice President This is an appeal filed by the assessee against the order of the ld CIT(A), NFAC, Delhi dated Cuttack/10913/2019 2. Although relate to the IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI R.K.PANDA, VICE PRESIDENT ITA No.5/CTK/2024 Assessment Year : 2017-18 Subash Chandra Sethi, Juidaspur Pandiri, Kendrapara Vs. ITO, Kendrapara Ward, Kendrapara PAN/GIR No.AVWPS 1855 N (Appellant) .. ( Respondent Assessee by : None Revenue by : Shri S.C.Mohanty, ld Sr DR Date of Hearing : 17/0 Date of Pronouncement : 17/0 O R D E R Per R.K.Panda, Vice President This is an appeal filed by the assessee against the order of the ld CIT(A), NFAC, Delhi dated 7.11.2023 in Appeal No. Cuttack/10913/2019-20 relating to the assessment year Although a number of grounds have been raised, however these exparte order of the ld CIT(A) in confirming the various Page1 | 4 IN THE INCOME TAX APPELLATE TRIBUNAL, RAJPAL YADAV, VICE PRESIDENT R.K.PANDA, VICE PRESIDENT ITO, Kendrapara Ward, Kendrapara Respondent) : Shri S.C.Mohanty, ld Sr DR 05/2024 /05/2024 This is an appeal filed by the assessee against the order of the ld in Appeal No.CIT(A), assessment year 2017-18. e been raised, however these all exparte order of the ld CIT(A) in confirming the various ITA No.5/CTK/2024 Assessment Year : 2017-18 Page2 | 4 additions made by the Assessing Officer and thereby assessing the total income at Rs.67,62,707/- as against the returned income of Rs.6,51,504/-. 3. None appeared on behalf of the assessee. Therefore, we proceed to decide the appeal on the basis of materials available on record and after hearing ld Sr DR. 4. Brief facts of the case are that the assessee is an individual and deals in sale of petrol, diesel & lubricant and running a petrol pump under the name & style of M/s. Radraya Filling Station at Pandiri, Kendrapara. He filed his return of income on 11.12.2017 declaring total income at Rs.6,51,500/-. The Assessing Officer completed the assessment u/s.143(3) of the Act on 29.12.2019 assessing the total income at Rs.67,62,707/-, inter alia, making the following additions: 1) Suppression of purchase ; Rs. 13,217/- 2) Difference of gross profit : Rs.24,50,565/- 3) Creditors liability u/s.69B : Rs.35,65,923/- 4) Unexplained cash deposit (SBN) : Rs. 81,500/- 5. Since the assessee did not make any submission before the ld CIT(A), NFAC despite number of opportunities granted, the ld CIT(A), NFAC dismissed the appeal filed by the assessee. 6. Aggrieved with such order of ld CIT(A), NFAC, the assessee is in appeal before the Tribunal. 7. We have considered the submission of ld Sr DR and perused the material available on record. It is an admitted fact that despite number of opportunities granted by the ld CIT(A), NFAC, the assessee did not file any ITA No.5/CTK/2024 Assessment Year : 2017-18 Page3 | 4 submissions for which, ld CIT(A), NFAC sustained the various additions made by the Assessing officer. As per the grounds of appeal, it is the contention of the assessee that the Assessing officer has adopted gross profit @ 3.99% without giving any comparable cases. We find ld CIT(A), NFAC while deciding the issue has also not given any comparable case as to how and why such huge profit margin has to be applied. Therefore, considering the totality of the facts of the case and in the interest of justice, we deem it fit and proper to restore the issue back to the file of the Assessing officer with the direction to give one more opportunity to the assessee to substantiate his case and decide the issue as per fact and law. We hold and direct accordingly. The grounds raised by the assessee are accordingly allowed for statistical purposes. 8. In the result, appeal of the assessee stands partly allowed for statistical purposes.. Order dictated and pronounced in the open court at the time of hearing today i.e. on 17/05/2024. Sd/- sd/- (RAJPAL YADAV) (R.K.PANDA) VICE PRESIDENT VICE PRESIDENT Cuttack; Dated 17/05/2024 B.K.Parida, SPS (OS) ITA No.5/CTK/2024 Assessment Year : 2017-18 Page4 | 4 Copy of the Order forwarded to : By order Sr.Pvt.secretary ITAT, Cuttack 1. The Appellant : Subash Chandra Sethi, Juidaspur Pandiri, Kendrapara 2. The Respondent: ITO, Kendrapara Ward, Kendrapara 3. The CIT(A)- NFAC, Delhi 4. Pr.CIT, 5. DR, ITAT, 6. Guard file. //True Copy//