Dinabandhu Som, Burdwan V. ITO, Ward - 2(3), Burdwan , Burdwan

ITA 762/KOL/2018

• Counselvise Citation: [2018] 112 COUNSELVISE.COM (IT) 5797 (ITAT-KOLKATA)
• Duration Of Justice: 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 20-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PROVAS ROY
• Section: 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER] I.T.A. NO. 762/KOL/2018 ASSESSMENT YEAR: 2013-14 DINABANDHU SOM..........APPELLANT KALIGRAM BURDWAN 713 102 [PAN : CQAPS 1625 K] INCOME TAX OFFICER, WARD-2(3), BURDWAN.....RESPONDENT APPEARANCES BY: SHRI SOUMITRA CHOUDHURY, ADVOCATE, APPEARED ON BEHALF OF THE ASSESSEE. SHRI PROVAS ROY, JCIT, APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : NOVEMBER 26 TH , 2018 DATE OF PRONOUNCING THE ORDER : DECEMBER 5 TH , 2018 O R D E R PER J. SUDHAKAR REDDY :- THIS APPEAL FILED BY THE ASSESSE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)- BURDWAN, (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 04/09/2017, FOR THE ASSESSMENT YEAR 2013-14. 2. THE ASSESSEE IS AN INDIVIDUAL AND IS IN THE BUSINESS OF TRADING IN RICE. THE SOLE ISSUE THAT ARISES FOR MY ADJUDICATION IS THE RATE OF PROFIT THAT HAS TO BE APPLIED FOR THE PURPOSE OF ESTIMATING THE PROFIT ON UNDISCLOSED SALE PROCEEDS RECEIVED BY THE ASSESSEE. THE ASSESSING OFFICER AS WELL AS THE LD. CIT(A) HAS APPLIED THE RATE OF 5% TO THE TURNOVER. THE ASSESSEE RELIES ON THE DECISION OF THE SMC BENCH OF THE TRIBUNAL IN THE CASE OF SK. MD. MAHASIN VS. ITO, ITA NO.300/KOL/2017 ASSESSMENT YEAR 2012-13, ORDER DT. JULY 20 TH , 2018, AND ARGUES THAT THE DEPARTMENT ITSELF HAS APPLIED THE GP RATIO OF 1.46% UNDER SIMILAR CIRCUMSTANCES, WHERE THE ASSESSEE WAS A TRADER IN RICE. 2.1. THE LD. D/R, POINTS OUT THAT THE ASSESSEE HIMSELF HAS OFFERED GP RATE OF 1.5% AND HENCE THE RATE OF ESTIMATION OF GP MADE BY THE ASSESSING OFFICER AND CONFIRMED BY THE LD. CIT(A) HAS TO BE UPHELD. 2 I.T.A. NO. 762/KOL/2018 ASSESSMENT YEAR: 2012-13 DINABANDHU SOM 3. IN MY VIEW, INTEREST OF JUSTICE WOULD BE MET IF THE PROFIT FROM UNDISCLOSED TURNOVER OF RICE IS ESTIMATED AT THE RATE OF 1.5% OF SUCH TURNOVER. THE REVENUE CANNOT ADOPT DIFFERENT YARDSTICKS IN CASE OF DIFFERENT PERSONS WHO ARE IN THE SAME TRADE. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. KOLKATA, THE 5 TH DAY OF DECEMBER, 2018. SD/- [ J. SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 05.12.2018 {SC SPS} COPY OF THE ORDER FORWARDED TO: 1. DINABANDHU SOM KALIGRAM BURDWAN 713 102 2. INCOME TAX OFFICER, WARD-2(3), BURDWAN 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES