ACIT, Bhubaneswar V. Sangram Kishore Nayak, Angul

ITA 640/CTK/2012

• Counselvise Citation: [2013] 120 COUNSELVISE.COM (IT) 4757 (ITAT-CUTTACK)
• Duration Of Justice: 9 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-10-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 04-10-2013
• Assessment Year: 2009-2010
• Appeal Filed On: 28-12-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S C MOHANTY

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI P.K.BANSAL(ACCOUNTANT MEMBER) AND SHRI D.T.GARASIA JUDICIAL MEMBER) I.T.A NO.640/CTK/2012 ASSESSMENT YEAR: 2009-2010 ACIT, CIRCLE 1(1), BHUBANESWAR VS SANGRAM KISHORE NAYAK, PROP. M/S. R.K. ENTERPRISES, AT: NEAR TELCO, NUAHATA, BANARPAL, ANGUL- 769128 APPELLANT RESPONDENT APPELLANT BY: SHRI S.C. MOHANTY RESPONDENT BY : NONE DATE OF HEARING: 04/10/2013 DATE OF PRONOUNCEMENT:10/10/2013 ORDER PER BENCH: THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST O RDER DATED 16.10.2012 OF LD CIT(A)-1, BHUBANESWAR FOR THE ASSESSMENT YEAR 2009-2010 ON TH E FOLLOWING GROUND: 'ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, ID CIT(A) IS NOT JUSTIFIED IN RESTRICTING THE ESTIMATION TO 8% AS AGAINST 10% MAD E BY THE AO ON GROSS TURNOVER WITHOUT ANY FACTUAL FINDING, WHEN REJECTION OF THE BOOK RESULT BY THE AO WAS UPHELD.' 2. NONE APPEARED ON BEHALF OF THE ASSESSEE EV EN THOUGH ADJOURNMENT LETTER WAS FILED. IN THE ABSENCE OF VALID REASON, WE REJECT THE ADJOURNMENT AND PROCEED TO DECIDE THE APPEAL OF THE REVENUE QUA RESPONDENT ASSESSEE AFTER HEARING LD D.R. AND O N THE BASIS OF MATERIAL AVAILABLE ON RECORD. 2 I.T.A NO.640/CTK/2012 ASSESSMENT YEAR: 2009-2010 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSING OFFICER HAS ESTIMATED THE INCOME IN THIS CASE AFTER REJECTING THE BOOKS OF ACCOUNT OF THE AS SESSEE @ 10% ON THE GROSS CONTRACT RECEIPTS. WHEN THE MATTER WENT IN APPEAL BEFORE LD CIT(A), ID CIT( A) DIRECTED THE ASSESSING OFFICER TO ESTIMATE THE PROFIT @ 8% ON THE GROSS CONTRACT RECEIPTS. 4. AFTER HEARING ID D.R. AND GOING THROUGH THE FACTS O F THE CASE, IN OUR OPINION, NO INTERFERENCE IS CALLED FOR IN THE ORDER OF ID CIT(A). WE FIND THAT ID CIT(A) HAS APPLIED THE NET PROFIT @ 8% IN VIEW O F THE PROVISIONS OF SECTION 44AD, WHICH, IN OUR OPINI ON IS NOT UNREASONABLE. WE, THEREFORE, DISMISS THIS GROUND TAKEN BY THE REVENUE. 5. IN THE RESULT, APPEAL FILED BY REVENUE IS DISMISSED . PRONOUNCED IN THE OPEN COURT ON 10 TH OCTOBER, 2013 SD/- SD/- (D.T.GARASIA) (P.K.BANSAL) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER COPY TO : 1. APPELLANT: ACIT, CIRCL1(1), BHUBANESWAR. 2. THE RESPONDENT: SANGRAM KISHORE NAYAK, PROP. M/S. R .K.ENTERPRISES, AT:NEAR TELCO, NUAHATA, BANARPAL, ANGUL-769128 3. COMMISSIONER OF INCOME TAX APPEALS-1, BHUBANBESWAR. 4. COMMISSIONER OF INCOME TAX, BHUBANESWAR. 5. DEPARTMENTAL REPRESENTATIVE, ITAT, CUTTACK //TRUE COPY// BY ORDER ASST.REGISTRA R, ITAT, CUTTACK 3 I.T.A NO.640/CTK/2012 ASSESSMENT YEAR: 2009-2010 DATE INITIALS 1. DRAFT DICTATED ON 4.10.13 SPS 2. DRAFT PLACED BEFORE AUTHOR 9410.13 SPS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM 5. APPROVED DRAFT COMES TO THE SR. PS SPS 6. KEPT FOR PRONOUNCEMENT ON SPS 7. FILE SENT TO THE BENCH CLERK SPS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER