M/S SHREE AGARWAL MAHASABHA, ALWAR V. INCOME TAX OFFICER, WARD EXEMPTION, ALWAR

ITA 604/JPR/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 3947 (ITAT-JAIPUR)
• Duration Of Justice: 3 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-08-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 02-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH FOT; IKWY JKO] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM VK;DJ VIHY LA-@ ITA. NO. 604/JP/2018 FU/KZKJ.K O'K Z@ ASSESSMENT YEARS : 2014-15 M/S SHREE AGARWAL MAHASABHA, NEAR BUS STAND, ALWAR CUKE VS ITO WARD EXEMPTION, ALWAR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AAAJS2250G VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ L S@ ASSESSEE BY : SHRI P. C. PARWAL (CA) JKTLO DH VKSJ LS @ REVENUE BY : SHRI RAJENDRA JHA (JCIT) LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 07/08/2018 MN?KKS'K.KK DH RKJH[ K@ DATE OF PRONOUNCEMENT : 08/08/2018 VKNS'K@ ORDER PER: VIKRAM SINGH YADAV, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF LD. CIT(A)- 22, ALWAR DATED 15.03.2018 FOR ASSESSME NT YEAR 2014-15 WHEREIN THE ASSESSEE HAS CHALLENGED THE ADDITION OF RS. 6,47,210/- MADE BY THE ASSESSING OFFICER ON ESTIMATED BASIS AN D WHICH HAS BEEN CONFIRMED BY THE LD. CIT(A). 2. BRIEFLY STATED, THE FACTS OF THE CASE ARE THAT D URING THE COURSE OF ASSESSMENT PROCEEDINGS, THE AO OBSERVED THAT THE AS SESSEE HAS NOT PRODUCED ITS BOOKS OF ACCOUNTS AND IN THE ABSENCE O F BOOKS OF ACCOUNTS ITA NO. 604/JP/2018 M/S SHREE AGARWAL MAHASABHA, ALWAR VS. ITO, ALWAR 2 AND VOUCHERS, EXPENDITURE INCURRED BY THE ASSESSEE IS NOT VERIFIABLE. THE AO THEREAFTER, DISALLOWED 10 % OF THE TOTAL EXP ENDITURE AMOUNTING TO RS. 6,47,210/- AND BROUGHT THE SAME TO TAX IN TH E HANDS OF THE ASSESSEE. BEING AGGRIEVED, THE ASSESSEE CARRIED TH E MATTER IN APPEAL BEFORE THE LD. CIT(A) WHO HAS CONFIRMED THE SAID AD DITION. 3. DURING THE COURSE OF HEARING, THE LD. AR SUBMITT ED THAT THE ASSESSEE HAS SHOWN GROSS INCOME OF RS. 64,72,074/- AND HAS INCURRED EXPENDITURE OF RS. 50,37,044/- AND THE AO HAS ADDED 10% OF THE GROSS INCOME INSTEAD OF DISALLOWING 10% OF THE EXPENDITUR E. IT WAS FURTHER SUBMITTED BY THE AR THAT THE ASSESSEE HAS MAINTAINE D ITS REGULAR BOOKS OF ACCOUNTS ALONG WITH SUPPORTING BILLS AND VOUCHER S AND THOUGH THE SAME COULD NOT BE PRODUCED EARLIER DURING THE COURS E OF ASSESSMENT PROCEEDINGS, THE ASSESSEE MAY BE GIVEN AN OPPORTUNI TY TO PRESENT THE SAME AND THE MATTER MAY KINDLY BE REMAND BACK TO TH E ASSESSING OFFICER. 4. THE LD. DR IS HEARD WHO HAS NOT OPPOSED THE PRAY ER SO MADE BY THE LD. AR IN TERMS OF SETTING ASIDE THE MATTER. 5. AFTER HEARING BOTH THE PARTIES, IN THE INTEREST OF JUSTICE, WE DEEM IT APPROPRIATE THAT THE ASSESSEE BE ALLOWED ANOTHER OPPORTUNITY WHEREBY IT SHALL PRODUCE ITS BOOKS OF ACCOUNTS AND OTHER SUPPORTING VOUCHERS BEFORE THE ASSESSING OFFICER FOR NECESSARY VERIFICATION. THE MATTER IS ACCORDINGLY SET ASIDE TO THE FILE OF THE ASSESSING OFFICER TO EXAMINE THE SAME AFTER PROVIDING REASONABLE OPPORTU NITY TO THE ASSESSEE. ITA NO. 604/JP/2018 M/S SHREE AGARWAL MAHASABHA, ALWAR VS. ITO, ALWAR 3 IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWE D FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 08/08/2018. SD/- SD/- FOT; IKWY JKO FOE FLAG ;KNO (VIJAY PAL RAO) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 08/08/2018 * GANESH KR. VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- M/S SHREE AGARWAL MAHASABHA, ALWAR 2. IZR;FKHZ@ THE RESPONDENT- ITO, ALWAR 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR. 6. XKMZ QKBZY@ GUARD FILE { ITA NO. 604/JP/2018} VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR