BALBIR SINGH CONTRACTOR, BHARATPUR V. ITO, BHARATPUR

ITA 830/JPR/2014

• Counselvise Citation: 83023114 RSA 2014
• Duration Of Justice: 10 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2015
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 08-12-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: O P BHATEJA CIT DHK

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES (SMC), JAIPUR JH IH-DS-CALY] YS[KK LNL; DS LE{K BEFORE: SHRI P.K. BANSAL, ACCOUNTANT MEMBER VK;DJ VIHY LA-@ ITA NO. 830/JP/2014 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2010-11. M/S. BALBIR SINGH CONTRACTOR, VPO: OARSUAPURA, RAJAKHEDA, DHOLPUR. CUKE VS. THE INCOME TAX OFFICER, WARD 3, BHARATPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AABFB 8391 A VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : NONE JKTLO DH VKSJ LS@ REVENUE BY : SHRI O.P. BHATEJA, ADDL. CIT LQUOKBZ DH RKJH[K@ DATE OF HEARING : 03/11/2015 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 4/11/2015 VKNS'K@ ORDER PER P.K. BANSAL, A.M. THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT (A) DATED 17.09.2014. THE ONLY ISSUE INVOLVED IN THIS APPEAL RELATES TO SUSTENANCE OF ADDITION OF RS. 3,18,958/-. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. I, THE REFORE, DECIDED TO DISPOSE OFF THE APPEAL AFTER HEARING THE LD. D/R. 3. AFTER HEARING THE LD. D/R, I FOUND THAT THE AO H AS REJECTED THE BOOKS OF ACCOUNT AGAINST WHICH THE ASSESSEE IS NOT IN APPEAL BEFORE US. THE AO ESTIMATED THE PROFIT @ 2 ITA NO. 830/JP/2014 A.Y. 2010-11. M/S. BALBIR SINGH CONTRACTOR VS. ITO 8% WHICH WAS DULY CONFIRMED BY LD. CIT (A), WHILE T HE ASSESSEE HAS DECLARED THE NP RATE @ 6.42%. ONCE THE BOOKS OF ACCOUNT OF THE ASS ESSEE STANDS REJECTED AND ASSESSEE IS NOT IN APPEAL AGAINST THAT, THE ONLY CO URSE REMAINS THE ESTIMATION OF THE PROFIT EARNED BY THE ASSESSEE. NO HARD AND FAST RU LE CAN BE LAID DOWN HOW MUCH PROFIT THE ASSESSEE SHOULD DERIVE. THE ESTIMATION OF PROFI T HAS TO BE ARRIVED AT ON THE BASIS OF THE MATERIAL AVAILABLE ON RECORD. THE ASSESSEE HAS DECLARED NP RATE @ 6.42% WHILE THE REVENUE HAS ESTIMATED @ 8%. IN MY OPINION, IT WOULD BE JUST AND FAIR TO ESTIMATE THE PROFIT @ 7.20% UNDER THE FACTS AND CIRCUMSTANCE S OF THE CASE ESPECIALLY WHEN THE AO HAS NOT POINTED OUT ANY DEFECT AND THE BOOKS ARE DULY AUDITED. BUT THE ASSESSEE FAILED TO PRODUCE THE COPY OF THE BILLS, VOUCHERS A ND THE STOCK REGISTER. THIS, IN MY OPINION, WILL MEET THE ENDS OF JUSTICE. ACCORDINGLY , I DIRECT THE AO TO ESTIMATE THE PROFIT IN THE CASE OF THE ASSESSEE @ 7.20% BEFORE ALLOWING PARTNERS SALARY AND INTEREST. THUS THIS GROUND IS PARTLY ALLOWED. 4. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS P ARTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 4/11/2015. SD/- IH-DS-CALY ( P.K. BANSAL ) YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 4/11/ 2015 DAS/ 3 ITA NO. 830/JP/2014 A.Y. 2010-11. M/S. BALBIR SINGH CONTRACTOR VS. ITO VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- M/S. BALBIR SINGH CONTRACTOR, DHOLPU R. 2. IZR;FKHZ@ THE RESPONDENT- THE ITO WARD-3, BHARATPUR. 3. VK;DJ VK;QDRVIHY@ CIT(A). 4. VK;DJ VK;QDR@ CIT, 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO. 830/JP/2014) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR