Gokalbhai Mohanbhai Ajani, RAJKOT-GUJARAT V. The Income Tax Officer, Ward-2(3), AMRELI

ITA 539/RJT/2013

• Counselvise Citation: 53924914 RSA 2013
• Duration Of Justice: 2 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-03-2014
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB
• Next Hearing Date: 08-01-2014
• Assessment Year: 2009-2010
• Appeal Filed On: 31-12-2013
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: DR JAYANT B JHAVERI DR
• Assessee Lawyers: DR ADHIA
• Keywords: Unexplained expenditure; Business income
• Section: 69; 133(6)

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBULAL; RAJKOT BENCH, RAJKOT BEFORE SHRI T. K. SHARMA, JM AND SHRI B. R. JAIN, A M ITA NO. 539/RJT/2013 / ASSESSMENT YEAR : 2009-10 GOKALBHAI MOHANBHAI AJANI, PROP. OF GOKUL MILK SUPPLIER, HARIKRISHNA, CHHAKARGADH ROAD, AMRELI PAN : ADWPA 4007 C ( / APPELLANT) THE I.T.O., WARD 2(3), AMRELI / RESPONDENT ! ' #$ / ASSESSEE BY SHRI D. R. ADHIA, AR % ! ' #$ / REVENUE BY DR. JAYANT B. JHAVERI, DR # & ' ! ( / DATE OF HEARING 08.01.2014 ) ! ( / DATE OF PRONOUNCEMENT 07.03.2014 / ORDER .. , / T. K. SHARMA, J. M.: THIS APPEAL BY THE ASSESSEE IS AGAINST THE ORDER DATED 25.11.2013 OF L D. CIT(A)-IV, RAJKOT FOR THE ASSESSMENT YEAR 2009-10. 2. THE FACTS, IN BRIEF, ARE THAT THE ASSESSEE IS AN INDIVIDUAL, DOING BUSINESS OF DISTRIBUTION OF MILK. FOR THE ASSESSMENT YEAR UNDER APPEAL, HE FILED HIS RETURN OF INCOME ON 23.06.2009 DECLARING TOTAL INCOME AT RS.2 ,43,610/-. IN PARAGRAPH 2 OF THE ASSESSMENT ORDER, THE ASSESSING OFFICER MENTION ED THAT THE ASSESSEE SHRI GOKALBHAI MOHANBHAI AJANI EXPIRED ON 19.03.2010. DE SPITE OF THIS, THE ASSESSING OFFICER FRAMED ASSESSMENT ON 28.12.2011 IN HIS NAME . 3. IN PARAGRAPH 4 OF THE ASSESSMENT ORDER, THE ASSE SSING OFFICER OBSERVED THAT AS PER ITS DETAILS FOR AIR, THE ASSESSEE HAS D EPOSITED CASH OF RS.37,43,100/- IN AXIS BANK LTD., AMRELI DURING THE FY 2008-09. B EFORE THE ASSESSING OFFICER IT WAS EXPLAINED THAT THIS AMOUNT WAS OUT OF BUSINESS TRANSACTIONS WHICH ARE NOT RECORDED IN THE BOOKS OF ACCOUNTS. BEFORE THE ASSES SING OFFICER, VIDE LETTER DATED 21.12.2011, THE ASSESSEE AGREED TO CONSIDER THE NP AT THE RATE OF 5% ON 539-RJT-2013 - GOKALBHAI MOHANBHAI AJANI 2 UNDISCLOSED BUSINESS TRANSACTIONS OF RS.38,43,100/- AND AGREED TO PAY THE TAX THEREON ACCORDINGLY. 4. IN PARAGRAPH 4 OF THE ASSESSMENT ORDER, THE ASSE SSING OFFICER OBSERVED THAT THE ASSESSEE HAS DEPOSITED RS.5,00,000/- IN CA SH IN AXIS BANK A/C NO.336010100035626 IN THE MONTH OF MARCH 2009. THE ASSESSEE EXPLAINED THE SAME VIDE LETTER DATED 26.12.2011 AS UNDER:- (I) THE CASH DEPOSITED IN AXIS BANK IS OUT OF BUS INESS TRANSACTIONS AND ISSUED DEMAND DRAFT IN FAVOUR OF MOTHER DIARY. (II) THE BUSINESS TRANSACTION OF RS.38,43,100/- D OES NOT EXCEED RS.40,00,000/-, THEREFORE, WE REQUEST TO CONSIDER 5 % NET INCOME ON RS.38,43,100/- U/S 44AF OF THE ACT. (III) MY FATHER EXPIRED, THOUGH I HAVE PRODUCED AL L THE DETAILS. AS PER OUR AUDITED ACCOUNTS, THE GP IS 2.20% ON TOTAL TURNOVER OF RS.2,35,23,262/-. WHEREAS 5% NP SHOULD BE CALCULATED ON RS.38,43,100/ - ONLY ON THIS RETAIL BUSINESS TRANSACTIONS. AS PER YOUR SHOW CAUSE, THE NP AT THE RATE OF 5% ON ENTIRE AMOUNT IS NOT FAIR ENOUGH AND INJUSTICE. OUR ACCOUNTS ARE GOT AUDITED BY CHARTERED ACCOUNTANT AND GP IS 2.20% ONLY. I STR ONGLY OPPOSE 5% NP ON ENTIRE AMOUNT. (IV) FURTHER, IN REGARD TO RS.5,00,000/- CREDITED IN AXIS BANK DURING MARCH 2009, IT IS TO STATE THAT RS.1,00,000/- RECEIVED FR OM SHRI RAMESHBHAI GOKALBHAI AJANI BY ACCOUNT PAYEE CHEQUE. AND RS.4,0 0,000/- CREDITED IN BANK OUT OF MY FATHERS AGRICULTURE INCOME. IN SUPP ORT OF THE AGRICULTURE INCOME, I PRODUCE HEREWITH 7/12 & 8A. ON FURTHER VERIFICATION, THE ASSESSING OFFICER ISSU ED NOTICE U/S 133(6) OF THE INCOME-TAX ACT TO MOTHER DIARY ON 22.12.2011 FOR FU RNISHING THE LEDGER COPY OF THE ASSESSEE. MOTHER DIARY VIDE LETTER DATED 26.12.2011 FURNISHED LEDGER COPY OF (I) M/S. GOKUL MILK SUPPLIERS AND (II) BHAGIRATH MILK M ARKETING. ON VERIFICATION OF AFORESAID LEDGER COPIES FROM THE BOOKS OF ACCOUNTS OF MOTHER DIARY, THE ASSESSING OFFICER FOUND THAT ALL THE TRANSACTIONS MADE IN THE NAME OF GOKUL MILK SUPPLIERS WERE ACCOUNTED IN THE REGULAR BOOKS OF ACCOUNTS WHE REAS THE TRANSACTIONS AMOUNTING TO RS.38,43,100/- MADE IN THE NAME OF BHA GIRATH MILK MARKETING ARE NOT ACCOUNTED BY THE ASSESSEE IN REGULAR BOOKS OF A CCOUNTS. THEREFORE, THE ASSESSING OFFICER TREATED THE CASH DEPOSIT OF RS.5, 00,000/- AS UNEXPLAINED CASH DEPOSITION IN BANK U/S 69A OF THE ACT AND FURTHER M ADE AN ADDITION OF RS.140/- ON ACCOUNT OF DIFFERENCE IN BANK BALANCE. TO SUM-UP, IN THE ASSESSMENT ORDER, THE 539-RJT-2013 - GOKALBHAI MOHANBHAI AJANI 3 ASSESSING OFFICER COMPUTED TOTAL INCOME OF THE ASSE SSEE AT RS.18,68,460/- AS PER THE CALCULATION GIVEN HEREUNDER:- TOTAL INCOME AS PER RETURN RS.2,43,610/- ADD:-1) ON A/C OF NP DERIVED BY REJECTING BOOKS OF ACCOUNTS U/S 145(3) OF THE ACT (PROFIT @ 5% ON ENTIRE TURNOVER OF RS.2,73,66,462/- = RS.13,68,323RS.2,43,610/-) = 2)UNEXPLAINED CASH DEPOSITION IN BANK U/S 69 OF THE ACT 3) DIFF. IN BANK BALANCE RS.11,24,713/- RS.5,00,000/- RS.140/- RS.16,24,853/- ASSESSED TOTAL INCOME RS.18,68,463/- ASSESSED TOTAL INCOME ROUNDED OFF RS.18,68,460/ - ON APPEAL, IN THE IMPUGNED ORDER, LD. CIT(A) DID N OT APPROVE THE ACTION OF THE ASSESSING OFFICER OF MAKING ADDITION OF 5% IN R ESPECT OF ENTIRE TURNOVER OF RS.2,73,66,462/-. THE LD. CIT(A) DETERMINED THE TO TAL INCOME OF THE ASSESSEE AT RS.40,86,846/- AS AGAINST RS.18,68,460/- COMPUTED B Y THE ASSESSING OFFICER FOR THE DETAILED REASONS GIVEN IN PARAGRAPHS 4.2 AND 4. 3 OF THE IMPUGNED ORDER, WHICH ARE REPRODUCED HEREUNDER:- 4.2 THE A.O., NOT BEING SATISFIED WITH THE REPLY OF THE APPELLANT HAS PROCEEDED WITH THE ADDITION PROPOSED IN THE SHOW-CA USE LETTER. AFTER REJECTING THE BOOKS OF ACCOUNTS U/S.145(3) OF THE I T ACT, 1961, THE A.O. HAS COMPUTED NET PROFITS OF 5% ON THE TOTAL RECEIPTS OF RS.2,73,66,462 WHICH COMES TO RS.13,68,323. PROFITS DISCLOSED IN THE RET URN AT RS.2,43,610 WHEN GIVEN CREDIT, THE NET ADDITION REMITTED WAS AT RS.1 1,23,713 ON THIS COUNT. THE OTHER ADDITION MADE WAS THAT OF RS.5,00,000 ON ACCOUNT OF UNEXPLAINED CASH DEPOSITS U/S 69A OF IT ACT, 1961. ASSESSMENT O RDER PASSED U/S.143(3) OF IT ACT, 1961, WHEN EXAMINED CAREFULLY, I AM OF T HE VIEW THAT THE ASSESSING OFFICER HAS FALTERED IN DETERMINING THE P ROFITS FROM THE BUSINESS OF THE APPELLANT. AS SEEN FROM THE ASSESSMENT ORDER AN D THE SUBMISSIONS MADE BY THE APPELLANT, THIS IS A CASE, WHERE THE BO OKS OF ACCOUNTS ARE MAINTAINED AND AUDITED BY A CHARTED ACCOUNTANT U/S. 44AB OF IT ACT, 1961. MEANING THEREBY, ALL THE EXPENDITURE CONNECTED WITH THE BUSINESS HAVE BEEN DULY BOOKED WHICH IS EVIDENT FROM THE AUD ITED FINANCIAL PLACED BEFORE ME. THEREFORE, THE CASH DEPOSITS DISCOVERED BY THE DEPARTMENT IN THE IMPUGNED BANK ACCOUNT MAINTAINED WITH AXIS BANK , AMRELI BRANCH ARE NOTHING BUT THE UNDISCLOSED PROFITS SECRETED OUT OF THE BUSINESS REGULARLY. THIS IS MORE SO BECAUSE, THE NET PROFIT SHOWN IN TH E RETURN FILED WAS JUST 1.04% I.E.RS.2,43,609 ON A SALE OF RS.2,35,23,363. IF THE PROFITS SECRETED OUT OF THE BUSINESS BY WAY OF CASH DEPOSITS IN THE UNDISCLOSED BANK ACCOUNT AT RS.38,43,100 ARE ADDED TO THE DECLARED P ROFIT OF RS.2,43,609 THE SAME COMES TO RS.40,86,709 WHICH WORKS OUT TO 17.37 %. IN A CASE LIKE THIS WHERE BOOKS OF ACCOUNTS ARE MAINTAINED AND AUDITED, THE MONIES THAT ARE TAKEN OUT CLANDESTINELY, BY MAKING CASH DEPOSITS IN A SECRET BANK ACCOUNT ARE NOTHING BUT PROFITS, AND SHOULD BE SUBJECTED TO TAX. THERE CAN BE NO EXPENDITURE AGAINST THIS INCOME, AS EXPENDITURE IS DULY LOOKED WHICH IS AUDITED BY A CHARGED ACCOUNTANT. THE ONUS IS ON THE TAXPAYER TO SAY THAT THERE ARE CERTAIN UNACCOUNTED EXPENDITURE WHICH NEE DS TO BE CONSIDERED, FAILING WHICH THE ENTIRE CASH DEPOSITS OF RS.38,43, 100 FOUND IN THE SECRET 539-RJT-2013 - GOKALBHAI MOHANBHAI AJANI 4 BANK ACCOUNT MAINTAINED WITH AXIS BANK, AMRELI BRAN CH CONSTITUTE NET PROFITS THAT HITHERTO UNDISCLOSED. VIDE ORDER SHEET ENTRY DATED 13/11/2013. THE AUTHORISED REPRESENTATIVE, SHRI D. R. ADHIA HAS BEEN GIVEN NOTICE OF ENHANCEMENT WHEREIN, HE WAS ASKED TO SHOW-CAUSE AS TO WHY NOT THE ENTIRE CASH DEPOSITS OF RS.38,43,236 FOUND IN THE S ECRET BANK ACCOUNT BE TREATED AS UNDISCLOSED PROFITS AS THE ENTIRE EXPEND ITURE IN RESPECT OF THE BUSINESS UNDERTAKEN HAS ALREADY BEEN BOOKED IN ITS ENTIRETY AS PER THE AUDITED ACCOUNTS. IN RESPONSE, SHRI D R ADHIA, AR H AS SUBMITTED THAT THE A.O. HAS ALREADY TREATED THE CASH DEPOSITS AS SALES AND THEREFORE DO NOT CONSTITUTE INCOME. THERE IS NO FORCE IN THE ARGUMEN T PUT FORTH BY THE AR. 4.3 THAT SAID, I DIRECT THE A.O. TO ADD THE ENTIRE CASH DEPOSITS OF RS.38,43,236 (INCLUDING INTEREST INCOME OF RS.136) TO THE INCOME RETURNED AS UNDISCLOSED PROFITS U/S 69A OF THE IT ACT, 1961. ACCORDINGLY, THE TOTAL INCOME IS DETERMINED AT RS.40,86,846/-. AGGRIEVED WITH THE ORDER OF LD. CIT(A), THE ASSESSE E IS NOW IN APPEAL BEFORE THIS TRIBUNAL, ON THE FOLLOWING GROUNDS:- 1.1. THE LD. CIT(A) HAS ERRED IN LAW AND FACTS IN TREATING AN AMOUNT OF RS.38,43,230/- AS UNDISCLOSED PROFIT U/S. 69A. THE SAME NEEDS DELETION. 1.2. THE LD. CIT(A) HAS ERRED IN LAW AND FACTS IN T REATING AN AMOUNT OF RS.38,43,236/- AS UNDISCLOSED PROFIT U/S. 69A INSTE AD OF CONSIDERING THE SAME AS BUSINESS RECEIPTS AND TAXING THE SAME AT NO RMAL RATES OF PROFIT AS DISCLOSED BY THE ASSESSEE @ 2.20% G.P. AND ACCEPTED BY HIM. THE ADDITION NEEDS REDUCTION. 1.3. THE LD. CIT(A) HAS ERRED IN LAW AND FACTS IN T REATING AN AMOUNT OF RS.38,43,236/- AS UNDISCLOSED PROFIT U/S. 69A INSTE AD OF CONSIDERING THE SAME AS TAXABLE AT THE RATE PROVIDED U/S. 44AF. THE ADDITION NEEDS REDUCTION BY ACCEPTING TAXABILITY THEREOF BETWEEN 2 .20% DISCLOSED G.P. AND 5% U/S. 44AF. 2. TAKING INTO CONSIDERATION THE LEGAL, STATUTORY, FACTUAL, ACCOUNTING AND ADMINISTRATIVE ASPECTS, NO ADDITIONS AMOUNTING TO R S. 38,43,236/- OUGHT TO HAVE BEEN MADE. THE ADDITIONS NEED DELETION. 3. WITHOUT PREJUDICE, THE BOOK RESULT AS SHOWN BY T HE ASSESSEE OUGHT TO HAVE BEEN ACCEPTED INSTEAD OF MAKING ADDITION OF RS . 38,43,236/- AT 100%. THE ADDITION NEEDS DELETION / REDUCTION. 4. WITHOUT PREJUDICE, THE PEAK WORKING AS MADE BY THE LD. A.O. IS ERRONEOUS NEEDS MODIFICATION 5. WITHOUT PREJUDICE, THE ASSESSMENT MADE IS BAD IN LAW AND DESERVES ANNULMENT. 6. WITHOUT PREJUDICE, NO ADEQUATE, SUFFICIENT AND REASONABLE OPPORTUNITY HAS BEEN PROVIDED WHILE PASSING ASSESSMENT ORDER. T HE ASSESSMENT NEEDS ANNULMENT. 7. WITHOUT PREJUDICE, NO ADEQUATE, SUFFICIENT AND REASONABLE OPPORTUNITY 539-RJT-2013 - GOKALBHAI MOHANBHAI AJANI 5 HAS BEEN PROVIDED WHILE PASSING APPEAL ORDER. THE A SSESSMENT NEEDS ANNULMENT. 8. THE LD. CIT(A) HAS ERRED IN LAW AND FACTS IN NOT GIVING PROPER OPPORTUNITY WHILE MAKING ENHANCEMENT OF RS. 38,43,236/- @ 100% INSTEAD OF TAXING THE SAME AT 5% BY THE LD. A.O. AND THUS MAKING ENHA NCEMENT OF RS. 36,51,074/-(38,43,236/- - 1,92,162/-, I.E. 5% OF38, 43,236/-). 9. THE APPELLANT CRAVES LEAVE TO ADD/ALTER/AMEND A ND/OR SUBSTITUTE ANY OR ALL GROUND OF APPEAL BEFORE THE ACTUAL HEARING T AKES PLACE. 5. AT THE TIME OF HEARING BEFORE US, ON BEHALF OF T HE ASSESSEE, SHRI D.R. ADHIA, AR, APPEARED AND PRODUCED A COPY OF STATEMEN T OF ACCOUNT NO.336010100035626 WITH AXIS BANK LTD. FOR THE PERI OD FROM 01.04.2008 TO 31.03.2009. FROM THIS STATEMENT, LD. AUTHORIZED REP RESENTATIVE OF THE ASSESSEE POINTED OUT THAT BALANCE AS ON 31.03.2008 WAS RS.2, 330/- AND CLOSING BALANCE AS ON 31.03.2009 WAS RS.5,01,313/-. IN THIS ACCOUNT T HE ASSESSEE HAS DEPOSITED CASH AND ISSUED DD IN FAVOUR OF MOTHER DIARY. ALL T HE DEPOSITS IN THIS ACCOUNT REPRESENT SALE PROCEEDS OF MILK AND ALL THE PAYMENT S FROM THIS ACCOUNT ARE FOR PURCHASE OF MILK; THEREFORE, THE ENTIRE CASH DEPOSI TS IN THIS ACCOUNT CANNOT BE TAXED AS INCOME, INSTEAD ONLY NET PROFIT SHOWN BY T HE ASSESSEE IN RESPECT OF HIS DISCLOSED BUSINESS INCOME GP 2.20% AND NP 1.04% AS PER DULY AUDITED BOOKS OF ACCOUNTS SHOULD HAVE BEEN ACCEPTED BY THE LD. CIT(A ). ALTERNATIVELY, HE PLEADED THAT IT MAY BE TAXED AT SOME REASONABLE PERCENTAGE BETWEEN DISCLOSED NP I.E. 1.04% TO 5% U/S. 44AF OF THE ACT. IF THE AFORESAID PLEADINGS ARE NOT ACCEPTABLE, THEN PROFIT CANNOT BE ESTIMATED MORE THAN 5% U/S 44 AF OF THE INCOME-TAX ACT, 1961. 6. AS AGAINST THE AFORESAID SUBMISSIONS MADE BY THE LD. AUTHORIZED REPRESENTATIVE; DR. JAYANT B. JHAVERI, DR APPEARED FOR THE REVENUE, VEHEMENTLY SUPPORTED THE ORDER OF THE LD. CIT(A). LD. DR PLEAD ED THAT THE ORDER OF THE LD. CIT(A) DETERMINING THE TOTAL INCOME OF THE ASSESSEE AT RS.40,86,846/- BE UPHELD. ALTERNATIVELY, HE PLEADED THAT THE INCOME AS ASSESS ED BY THE ASSESSING OFFICER AT RS.18,68,460/- BE UPHELD. 7. HAVING HEARING BOTH THE SIDES, WE HAVE CAREFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. IT IS PERTINENT TO NOTE THAT THE BOOKS OF ACCOUNTS OF THE 539-RJT-2013 - GOKALBHAI MOHANBHAI AJANI 6 ASSESSEE ARE DULY AUDITED U/S 44AB OF THE INCOME-TA X ACT, 1961. NO DEFECTS WHATSOEVER IN THE BOOKS OF ACCOUNTS HAVE BEEN POINT ED OUT BY THE ASSESSING OFFICER, EXCEPT THE TRADING IN MILK TO THE TUNE OF RS.38,43,100/- DONE BY THE ASSESSEE IN THE NAME OF BHAGIRATH MILK MARKETING (B HAMIL) NOT RECORDED IN THE BOOKS OF ACCOUNTS. ADMITTEDLY, THE ASSESSEE HAS NO T RECORDED THIS BUSINESS TURNOVER TO THE TUNE OF RS.38,43,100/-. THEREFORE, AT THE MOST, ON THIS UNDISCLOSED BUSINESS TRANSACTION, INCOME CAN BE ESTIMATED AT TH E RATE OF 5% AS ADMITTED BY THE ASSESSEE BEFORE THE ASSESSING OFFICER AND PROVI DED IN SECTION 44AF OF THE INCOME-TAX ACT, 1961. NET PROFIT, ON THIS BASIS, W ORKS OUT TO RS.1,92,155/- BEING 5% OF RS.38,43,100/-. IT IS PERTINENT TO NOTE THAT IN RESPECT OF BUSINESS OF MILK DISTRIBUTION DONE IN THE NAME OF BHAGIRATH MILK MAR KETING (BHAMIL), THE ASSESSEE HAS RECORDED THE TURNOVER OF RS.2,35,23,362/- AND O N THIS THE ASSESSEE HAS DECLARED NET INCOME OF RS.2,43,610/-. KEEPING IN V IEW OF THIS CONSPICUOUS FACTS, WE ARE OF THE VIEW THAT IT WILL MEET THE END OF JUS TICE IF TOTAL INCOME OF THE ASSESSEE IS COMPUTED AT RS.4,35,905/- AS UNDER:- INCOME ALREADY DECLARED AFTER CLAIMING GENUINE EXP . RS.2,43,610/- ADD:- INCOME ESTIMATED @ 5% ON UNDISCLOSED BUSINESS TRANSACTION OF RS.38,43,100/- RS.1,92,155/- BANK INTEREST RS. 140/- TOTAL INCOME RS.4,35,905/- IN THE ASSESSMENT ORDER, THE ASSESSING OFFICER HAS ALSO MADE ADDITION OF RS.5,00,000/- U/S 69A OF THE ACT ON ACCOUNT OF UNEX PLAINED CASH DEPOSIT IN AXIS BANK ACCOUNT NO.336010100035626. THE ASSESSEE HAS FURNISHED EXPLANATION IN THIS REGARD WHICH IS AS UNDER:- .IN REGARD TO RS.5,00,000/- CREDITED IN AXIS BANK DURING MARCH 2009, IT IS TO STATE THAT RS.1,00,000/- RECEIVED FROM SHRI RAME SHBHAI GOKALBHAI AJANI BY ACCOUNT PAYEE CHEQUE. AND RS.4,00,000/- CREDITE D IN BANK OUT OF MY FATHERS AGRICULTURE INCOME. IN SUPPORT OF THE AGRI CULTURE INCOME, I PRODUCE HEREWITH 7/12 & 8A. THE ABOVE EXPLANATION OF THE ASSESSEE, IN OUR OPIN ION, IS FAIR AND REASONABLE; THEREFORE, THIS AMOUNT CANNOT BE TREATE D AS UNEXPLAINED. WE HOLD ACCORDINGLY. 539-RJT-2013 - GOKALBHAI MOHANBHAI AJANI 7 FOR THE FOREGOING REASONS, WE DIRECT THE ASSESSING OFFICER TO ASSESS THE TOTAL INCOME OF THE ASSESSEE AT RS.4,35,905/- AS AG AINST INCOME OF RS.40,86,846/- DETERMINED BY THE LD. CIT(A) IN THE IMPUGNED ORDER. 8. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS PAR TLY ALLOWED. 9. SINCE ONE OF US (THE AM) IS NOT AVAILABLE AT RAJ KOT, THIS ORDER SHALL BE DEEMED TO HAVE BEEN PRONOUNCED ON THE DATE ON WHICH IT IS NOTIFIED ON THE NOTICE BOARD OF RAJKOT BENCH IN TERMS OF RULE 34 OF THE IN COME-TAX (APPELLATE TRIBUNAL) RULES. SD/- SD/- (B. R. JAIN) (T. K. SHARM A) $( #*% / ACCOUNTANT MEMBER #*% /JUDICIAL MEMBER *$+ ,*-/ ORDER DATE 07.03.2014 /RAJKOT *BT / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT- GOKALBHAI MOHANBHAI AJANI, PROP. OF GO KUL MILK SUPPLIER, HARIKRISHNA, CHHAKARGADH ROAD,AMRELI 2. /RESPONDENT- THE I.T.O., WARD 2(3),AMRELI 3. #-2- & 3 / CIT-III, RAJKOT 4. & 3 - / CIT(A)-IV, RAJKOT 5 . 678 , , / DR, ITAT, RAJKOT 6 . 89 :; / GUARD FILE. *$+ #$ / BY ORDER , PRIVATE SECRETARY, , INCOME TAX APPELLATE TRIBUNAL, RAJKOT.