M/s Paul Enterprises, Darjeeling V. I.T.O Wd - 3(1),Siliguri, Siliguri

ITA 690/KOL/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 92007 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 2 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 02-04-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MADHU MALATI GHOSH
• Assessee Lawyers: SOUMITRA CHOW DHURY
• Section: 145

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI P.K. BANSAL , ACCOUNTANT MEMBER ITA NO. 69 0 /KOL/ 2013 ASSESSMENT YEAR: 200 9 - 1 0 M/S PAUL ENTERPRISES, JHWAR BUILDING, NAYA BAZAR, SILGURI, DARJEELING 734 005 [ PAN NO.A AC FP 6275 E ] / V/S . I.T.O. WARD - 3 (1), CENTRAL REVENUE BUILDING, HAKIMPARA, SILIGURI 734 001 / APPELLANT .. / RESPONDENT / BY APPELLANT SHRI SOUMITRA CHOWDHURY, ADVOCATE / BY RESPONDENT SMT.MADHUMALATI GHOSH, JCIT, SR - DR / DATE OF HEARING 03 - 06 - 2015 / DATE OF PRONOUNCEMENT 03 - 06 - 2015 / O R D E R THIS A PPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX(APPEALS) - SILIGURI DATED 18 - 02 - 2013 FOR THE ASSESSMENT YEAR 20 09 - 1 0. 2. THE ONLY ISSUE INVOLVED IN THIS OF ASSESSEE RELATE TO THE SUSTAINING OF TRADING ADDITION IN RICE ACCOUNT BY ESTIMATING NET PROFIT @ 2% O F THE GROSS TURNOVER WHICH COMES TO 5,52,605/ - . 3. I HAVE HEARD RIVAL SUBMISSIONS AND CAREFULLY CONSIDER THE SAME ALONG WITH THE ORDERS OF TAX AUTHORITIES BELOW. I ALSO NOTED THAT IT IS A CASE WHERE THE TRADING ADDITION HAS BEEN MADE BY THE ASSESSING OF FICER WITHOUT REJECTING THE BOOKS OF ACCOUNT OF THE ASSESSEE. IT IS THE FACT THAT THE ASSESSEE HAS DULY MAINTAINED THE BOOKS OF ACCOUNT WHICH ARE DULY AUDITED. THE AO DID NOT FIND ANY DEFECT IN THE BOOKS OF I TA NO. 69 0 /KOL /2013 A.Y. 200 9 - 1 0 M/S PAUL ENTERPRISES V. ITO WD - 3 (1) SLG . PAGE 2 ACCOUNT MAINTAINED BY THE ASSESSEE. UNTIL AND UNL ESS, THE BOOKS ARE NOT REJECTED BY INVOKING THE PROVISION OF SECTION 145 OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ). IN MY OPINION, NO ADDITION CAN BE MADE IN THE TRADING ACCOUNT OF THE ASSESSEE. I , ACCORDINGLY, DELETE THE ADDITION OF 5,52,605/ - . 4. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 03 / 06 /201 5 SD/ - ( P.K. BANSAL ) ACCOUNTANT MEM BER KOLKATA, *DKP - 03 / 06 /201 5 / COPY OF ORDER FORWARDED TO: - 1 . / APPELLANT M/S PAUL ENTERPRISES, JHAWAR BUILDING, NAYA BAZAR, SILIGURI, DARJEELING 734 005 2 . / RESPONDENT ITO WARD - 3 (1), CENTRAL REVENUE BUILDING, HAKIMPARA, SILIGURI - 734001 3 . / CONCERNED CIT 4 . - / CIT (A) 5 . , / DR, ITAT, KOLKATA 6 . / GUARD FILE. BY ORDER/ , / ,