ITO, Jamshedpur V. M/s Orissa Bengal Transport Co., Jamtara

ITA 62/RAN/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 8824 (ITAT-RANCHI)
• Duration Of Justice: 2 year(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 26-02-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P K MONDAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI SMC BENCH, RANCHI ( BEFORE SRI J. SUDHAKAR REDDY , ACCOUNTANT MEMBER ) I.T.A. NO. 62 / RAN /201 6 ASSESSMENT YEAR: 20 12 - 13 ITO, WARD 1(2 ) .. . APPELLANT 47, C.H. AREA, JAMSHEDPUR. M/S. ORISSA BENGAL TRANSPORT CO. . RESPONDENT KITADIH (NEAR TISCO COMMUNITY CENTRE) JAMSHEDPUR. [PAN : AABFO 9781 F ] APPEARANCES BY: SHRI P.K. MONDAL, JR. DR APPEARING ON BEHALF OF THE REVENUE. NONE APPEARING ON BEHALF OF THE ASSESSEE. DATE OF CONCLUDING THE HEARING : FEBRUARY 2 7 , 2018 DATE OF PRONOUNCING THE ORDER : FEBRUARY 28 , 2018 ORDER PER J. SUDHAKAR REDDY, AM : - THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) JAMSHEDPUR DATED 08.12.2015 FOR THE ASSESSMENT YEAR 2012 - 13. 2 . NONE APPEARED ON BEHALF OF THE ASSESSEE. I DISPOSE OF THE APPEAL EX - PARTE ON MERIT QUA THE AS SESSEE. HEARD THE LEARNED DEPARTMENT REPRESENTATIVE, THE REVENUE DISPUTES THE ESTIMATE OF PROFIT BY THE LD. CIT(A) AT 1.5% OF THE GROSS RECEIPTS AS AGAINST 3% ESTIMATED BY THE A.O. THE LD. CIT(A) HAS BASED HIS ESTIMATION ON THE FACT THAT THE NET PROFIT OF THE ASSESSEE IN THE ASSESSMENT YEAR 2011 - 12 WAS 0.4% AND FOR THE ASSESSMENT YEAR 2012 - 13 WAS 0.34%. HE ALSO TOOK NOTE THAT IN THE YEAR UNDER CONSIDERATION THE ASSESSEE HAS DECLARED PROFIT OF 1.47%. I FIND NO INFIRMITY IN SUCH ESTIMATION BY THE L D. CIT(A), T HE A.O. HAS NOT BASED HIS ESTIMATION ON ANY COMPARABLE. THUS THIS APPEAL OF THE REVENUE IS DISMISSED. 3 . IN THE RESULT THE APPEAL OF THE REVENUE IS DISMISSED. RANCHI , THE 28 TH DAY OF FEBRUA R Y , 201 8 . SD/ - [ J. SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 28 .0 2 .201 8 BISWAJIT, SR. PS 2 I.T.A. NO. 62 /RAN/2016 ASSESSMENT YEAR: 2012 - 13 M/S. ORISSA BENGAL TRANSPORT CO. COPY OF THE ORDER FORWARDED TO: 1. M/S. ORISSA BENGAL TRANSPORT CO. KITADIH (NEAR TISCO COMMUNITY CENTRA), JAMSHEDPUR. 2. ITO, WARD 1(2 ), 47, C.H. AREA, JAMSHEDPUR. 3. CIT(A) - 4. CIT - , 5. CIT(DR), RANCHI BENCHES, RANCHI. TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY HEAD OF OFFICE/ D.D.O. ITAT, RANCHI BENCHES