Hinaben Dineshbhai Bhimani, Surat V. DCIT, Circle-3(3), Surat

ITA 726/SRT/2018

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 0987 (ITAT-SURAT)
• Duration Of Justice: 3 year(s) 10 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-10-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: DB
• Next Hearing Date: 20-07-2022
• Assessment Year: 2014-2015
• Appeal Filed On: 25-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

ITA No.726/Srt/2018 Hinaben Dineshbhai Bhimani Vs DCIT 4 4. The ld. CIT(A) after considering the submission of assessee, upheld the addition by taking a view that he is in agreement with the Assessing Officer that the explanation furnished by assessee is an afterthought thereby upheld the rejection of books of account and addition on estimation basis. Further aggrieved, the assessee has filed the present appeal before this Tribunal. 5. We have heard the submission of the learned Authorised Representative (ld. AR) of the assessee and the learned Senior Departmental Representative (ld. Sr. DR) for the revenue. The ld.AR of the assessee submits that during the assessment, the assessee furnished complete details as required by the Assessing Officer from time to time. The Assessing Officer found a minor difference in the gross profit vis-a-vis the preceding assessment year. In preceding assessment year, the assessee has shown gross profit @ 5.67%, however, during the year under consideration, the assessee has shown gross profit ratio i.e. @5.08%. The ld. CIT(A) has rejected the books of account by identifying certain discrepancies in the delivery challans or bills/invoices. The ld. AR fairly submits that he will not press the rejection of books of account if only reasonable estimation is confirmed by Tribunal on the basis of past three years. In past three assessment years, the assessee has shown almost 5% or less than 6%, gross profit during the year was reasonably fair.