Asstt. Commissioner of Income Tax, GONDA V. Shri Dinesh Chandra Jaiswal, GONDA

ITA 614/LKW/2013

• Counselvise Citation: 61423714 RSA 2013
• Duration Of Justice: 2 year(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 14-07-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 05-08-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R R N SHUKLA
• Assessee Lawyers: DINESH CHANDRA JAISWAL

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH A , LUCKNOW BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA NO. 614 /LKW/201 3 ASSESSMENT YEAR: 20 1 0 11 D C IT CIRCLE GONDA , CIVIL LINES, GONDA - 271001 VS. SHRI DINESH CHANDRA JAISWAL, IMLIYA GURUDAYAL, GONDA 271001 P AN:AEGPJ6643G (APPELLANT) (RESPONDENT) ASSESSEE BY SRI DINESH CHANDRA JAISWAL REVENUE BY SHRI R. R. N. SHUKLA, SR. DR DATE OF HEARING 14/07/2015 DATE OF PRONOUNCEMENT 1 8 /08/2015 O R D E R PER A. K. GARODIA, A.M. T HIS IS REVENUE S APPEAL DIRECTED AGAINST THE ORDER OF LD CIT( A ) - II, LUCKNOW DATED 06 . 05 .201 3 FOR A.Y. 20 1 0 11 . 2. THE REVENUE HAS RAISED AS MANY AS 5 GROUNDS BUT THE ONLY GRIEVANCE OF THE REVENUE IS ABOUT GRANTING OF RELIEF BY CIT (A) BY RESTRICTING THE ESTIMATION OF NET PROFIT AT 5.6% AS AGAINST 8% BY THE A.O. 3 . LEARNED D R OF THE REVENUE SUPPORTED THE ASSESSMENT ORDER AND LEARNED AR OF THE ASSESSEE SUPPORTED THE ORDER OF CIT (A) . 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS . WE FIND THAT BOOKS WERE REJECTED BY THE A.O. ON THIS BASIS THAT THE ASSESSEE DID NOT PRODUCE VOUCHERS/BILLS IN SUPPORT OF EXPENSES. AFTER REJECTI NG THE BOOKS, THE ASSESSMENT HAS TO BE COMPLETED BY ESTIMATING THE INCOME ON A REASONABLE BASIS. THE A.O. HAS NOT INDICATED ANY BASIS FOR APPLYING NET PROFIT RATE OF 8 2 %. BUT LEARNED CIT (A) HAS CONSIDERED PAST HISTORY AND HE NOTED THAT IN A.Y. 2006 07, THE ASSESSMENT WAS COMPLETED U/S 143 (3) AND IN THAT YEAR, THE A.O. MADE AN ADHOC ADDITION OF RS. 50,000/ - . HE HAS ALSO NOTED THAT IN THE PRESENT YEAR, THE N.P. RATE DECLARED BY THE ASSESSEE IS 5.33% AND IT WAS 5.37% IN A.Y. 2009 10 AND 5.35% IN A.Y. 200 8 09. HE APPLIED NET PROFIT RATE OF 5.6%. CONSIDERING THE FACTS IN TOTALITY, WE ARE OF THE CONSIDERED OPINION THAT THE RATE APPLIED BY LEARNED CIT (A) IS REASONABLE AND HENCE, WE DECLINE TO INTERFERE IN HIS ORDER. 5 . IN THE RESULT, THE APPEAL OF THE REVE NUE IS DISMISSED . (ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE) SD/. SD/. (SUNIL KUMAR YADAV ) ( A. K. GARODIA ) JUDI CIAL MEMBER ACCOUNTANT MEMBER DATED: 1 8 /0 8 /201 5 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. CONCERNED CIT 4. THE CIT(A) 5. D.R., I.T.A.T., LUCKNOW ASSTT. REGISTRAR