The Dy. Commr. Of Income Tax, Cir.-1(2), RAJKOT-GUJARAT V. Shri Ambabhai K. Patel, Jetpur

ITA 550/RJT/2015

• Counselvise Citation: [2017] 126 COUNSELVISE.COM (IT) 6867 (ITAT-RAJKOT)
• Duration Of Justice: 1 year(s) 11 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-10-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 05-11-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ARVIND N SONTAKKE
• Assessee Lawyers: DR ADHIA
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 550 / RJT /201 5 ASSESSMENT Y EAR: 20 0 7 - 08 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT [CORAM: PRAMOD KUMAR AM AND RAJPAL YADAV JM] ITA NO. 550 /RJT/201 5 ASSESSMENT YEAR: 200 7 - 08 DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(2), RAJKOT . ....... .. . .. ...APPELLANT VS. AMBABHAI K. PATEL , ...........................RESPONDENT 12, DINSA PARK, TIN BATTI CHOWK, JETPUR. [PAN A ELPP 2708 M ] APPEARANCES BY: ARVIND N. SONTAKKE FOR THE APPELLANT D.R. ADHIA F OR THE RESPONDENT DATE OF CONCLUDING T HE HEARING : 3 1 . 10 .2017 DATE OF PRONOUNCING THE ORDER : 31 .10 . 2017 O R D E R PER PRAMOD KUMAR AM: 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 31.08.2015 , PASSED BY THE L EARNED CIT(A) - 1, RAJKOT FOR THE ASSESSMENT YEAR 20 0 7 - 08 , ON THE FOLLOWING GROUND S : - 1. THE LD. CIT ( A ) HAS ERRED IN LAW AND ON FACTS IN RESTRICTING THE NET PROFIT TO 2% OF TOTAL TURNOVER AS AGAINST ESTIMATED BY THE AO @ 10% OF TOTAL TURNOVER ON ACCOUNT OF NON PRODUCTION OF BOOKS OF ACCOUNTS AND BILLS/VOUCHERS FOR THE EXPENSES CLAIMED. 2. IT IS , THEREFORE , PRAYED THAT THE ORDER OF THE LD . CIT (A) MAY BE SET ASIDE AND THAT OF THE ASSESSING O FFICER BE RESTORED . I.T.A. NO. 550 / RJT /201 5 ASSESSMENT Y EAR: 20 0 7 - 08 PAGE 2 OF 2 2 . WE HAVE NOTICED THAT THE TAX EFFECT INVOLVED IN TH IS APPEAL IS LESS THAN RS.10,00,000/ - . IN VIEW OF THIS UNDISPUTED FACT AND IN THE LIGHT OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE ARE OF THE CONSIDERED VIEW THAT TH IS APPEAL IS LIABLE TO BE DISMISSED AS WITHDRAWN FOR THE SIMPLE REASON THAT TAX EFFE CT INVOLVED IN TH IS APPEAL IS LESS THAN RS.10,00,000/ - . 3 . IN THE RESULT, APPEAL IS DISMISSED . PR O NOUNCED IN THE OPEN COURT TODAY ON THE 31 ST DAY OF OCTOBER , 2017. SD/ - SD/ - RAJPAL YADAV PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) RAJKOT, THE 31 ST DAY OF OCTOBER, 201 7 PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCO ME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT