ANIL KUMAR VIJAYVERGIYA, Jaipur V. ACIT, Jaipur

ITA 55/JPR/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99587 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 10 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-12-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 27-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJ MEHRA JCIT DR DHK
• Keywords: Depreciation

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES (SMC), JAIPUR JH VKJ-IH-RKSYKUH] U;KF;D LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JUDICIAL MEMBER VK;DJ VIHY LA-@ ITA NO. 55/JP/2014 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2007-08 SHRI ANIL KUMAR VIJAYVERGIYA PROP. M/S. PRAKASH TEA COMPNAY A-132, JANTA COLONY, JAIPUR CUKE VS. THE ACIT CIRCLE- 5, JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AALPV 0603 K VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : NONE (DATE WAS NOTED) JKTLO DH VKSJ LS@ REVENUE BY :SHRI RAJ MEHRA, JCIT-. DR LQUOKBZ DH RKJH[K@ DATE OF HEARING : 04/12/2015 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 14/12/2015 VKNS'K@ ORDER PER R.P. TOLANI, JM THE ASSESSEE HAS FILED AN APPEAL AGAINST THE ORDER OF THE LD. CIT(A)-II, JAIPUR DATED 07-11-2013 FOR THE ASSES SMENT YEAR 2007-08 RAISING FOLLOWING GROUNDS IN ITS APPEAL. (I) THE LD. CIT(A) ERRED IN UPHOLDING THE REJECTION OF BOOKS OF ACCOUNT U/S 145(3) OF THE ACT. (II) THE LD. CIT(A) ERRED IN SUSTAINING A TRADING A DDITION OF RS. 38,425/- BY APPLYING A GROSS PROFIT RATE OF 2% AS AGAINST 1.77% DECLARED BY THE ASSESSEE. ITA NO. 55//JP/2014 SHRI ANIL KUMAR VIJAYVERGIYA VS. ACIT CIRCLE- 5 , JAIPUR . 2 (III) THE LD. CIT(A) ERRED IN CONFIRMING THE DISALL OWANCE OF RS. 24,800/- (20% OF RS. 1,23,978) OUT OF CONVEY ANCE EXPENSES AND DEPRECIATION ON CAR ON ACCOUNT OF PER SONAL USE. (IV) THE LD. CIT(A) ERRED IN NOT CONSIDERING THE IN TEREST ON PPF AMOUNTING TO RS. 38,207/- AS EXEMPT U/S 10(11) OF THE I.T. ACT, 1961 2.1 NONE APPEARED ON BEHALF OF THE ASSESSEE IN SPIT E OF NOTING THE DATE OF THIS HEARING. CONSEQUENTLY WE ARE LEFT WITH NO A LTERNATIVE BUT TO DECIDE THE APPEAL ON MERITS, EX PARTE QUA THE ASSESSEE, AF TER HEARING LD. DR AND AFTER PERUSAL OF THE MATERIALS AVAILABLE ON RECORD. IN MY CONSIDERED VIEW, THERE WAS NO JUSTIFICATION IN REJECTION OF BOOKS OF ACCOUNT AS NO SPECIFIC DEFECTS HAVE BEEN POINTED OUT BY THE AO. IN VIEW TH EREOF, GROUND NO. 1 OF THE ASSESSEE IS ALLOWED AND AS A CONSEQUENCE THE RE IS NO MERIT IN SUSTAINING THE TRADING ADDITION AND DISALLOWANCE OF CONVEYANCE EXPENSES WHICH ARE ALSO DELETED. THUS GROUND NO. 2 AND 3 OF THE ASSESSEE ARE ALSO ALLOWED. THE GROUND NO. 4 OF THE ASSESSEE IS ALLOWE D AS PPF INTEREST IS EXEMPT UNDER I.T. ACT. THUS THE APPEAL OF THE ASSES SEE IS ALLOWED. ITA NO. 55//JP/2014 SHRI ANIL KUMAR VIJAYVERGIYA VS. ACIT CIRCLE- 5 , JAIPUR . 3 3.0 IN THE RESULT, ASSESSEE'S APPEAL IS ALLOWED . ORDER PRONOUNCED IN THE OPEN COURT ON 14/12/ 2015 SD/- VKJ-IH-RKSYKUH (R.P.TOLANI) U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 14 /12/ 2015 *MISHRA VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- SHRI ANIL KUMAR VIJAYVERGIYA, JAIPUR 2. IZR;FKHZ@ THE RESPONDENT- THE ACIT, CIRCLE- 5, JAIPUR 3. VK;DJ VK;QDRVIHY@ CIT(A). 4. VK;DJ VK;QDR@ CIT, 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO. 55/JP/2014) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR