M/s. Ganesh V.Jariwala, Surat V. The Income tax Officer,Ward-2(4), Surat

ITA 913/AHD/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 1402 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-06-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2006-2007
• Appeal Filed On: 03-04-2013
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: N P PATEL
• Section: 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD BEFORE SHRI R.P. TOLANI, JUDICIAL MEMBER ./ ITA NO. 913 /AHD/201 3 / ASSESSMENT YEAR : 200 6 - 0 7 M/S. GANESH V. JARIWALA, 2/3979, CHOGAN SHERI SAGRAMPURA, SURAT PAN : AFYPJ 0282 L VS INCOME TAX OFFICER, WARD 2(4), SURAT / (APPELLANT) / (RESPONDENT) ASSESSEE BY : SHRI MEHUL SHAH, AR REVENUE BY : SHRI N P PATEL, SR DR / DATE OF HEARING : 0 7 / 0 6 /201 6 / DATE OF PRONOUNCEMENT: 09 / 06 /201 6 / O R D E R THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE COMMI SSIONER OF INCOME - TAX (APPEALS) - II , SURAT DATED 14 . 0 1 .201 3 FOR ASSESSMENT YEAR 200 6 - 0 7 . 2. FIRST GROUND ABOUT RE - OPENING ASSESSMENT U/S 148 IS NOT PRESSED BY THE ASSESSEE; HENCE DISMISSED. 3. THE REMAINING EFFECTIVE GROUND IS AS UNDER: - ON THE FACTS AND CIRCUMSTANCES OF THE CASE AS WELL AS LAW ON THE SUBJECT, THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) HAS ERRED IN PARTLY CONFIRMING THE ADDITION OF RS.5,85,121/ - OUT OF THE TOTAL ADDITION OF RS.10,89,886/ - MADE BY ASSESSING OFFICER BY APPLYING G.P. @ 15% ON TOTAL DEPOSIT OF RS.39,00,810/ - IN THE BA NK ACCOUNT. 4 . LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, CONTENDS THAT SIMILAR ISSUE CAME UP BEFORE THE TRIBUNAL IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2007 - 08 IN ITA NO.1413/AHD/2011, IN WHICH THE ORDER OF THE LD. CIT(A) APPLYING GP RATE OF 15% ON TOTAL TURNOVER WAS REDUCED TO 8% BY FOLLOWING OBSERVATIONS: - SMC - ITA NO. 913/AHD/ 2013 M/S. GANESH V. JARIWALA VS. ITO AY : 2006 - 07 2 7. WE THEREFORE FEEL THAT THE ENDS OF JUSTICE SHALL BE MET IF THE ADDITION IS RESTRICTED AT 8% OF THE CASH DEPOSITS OF RS.33,39,500/ - (WHICH HAS BEEN DETERMINED BY CIT(A)). FURTHER SINCE T HE ADDITION HAS BEEN ESTIMATED, WE ARE OF THE VIEW THAT SEPARATE ADDITION OF RS.14,677/ - AND RS.16,929/ - IS UNCALLED FOR AND THAT THE ADDITION @ 8% WILL TAKE CARE OF THOSE ADDITIONS. WE THUS DIRECT ACCORDINGLY. THUS THESE GROUNDS ARE PARTLY ALLOWED. FACTS AND CIRCUMSTANCES BEING SAME, IT IS CONTENDED THAT THE GP RATE OF 8% ACCEPTED BY THE ITAT MAY BE APPLIED. 5. LD. DEPARTMENTAL REPRESENTATIVE IS HEARD. 6. I HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. FOLLOWING ITATS DECISION IN ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2007 - 08 IN ITA NO.1413/AHD/2011 DATED 19.09.2014 (SUPRA), IT IS DIRECTED THAT THE GP RATE OF 8% AS DIRECTED BY ITAT IS APPLIED. 7. IN THE RESULT, ASSESSEES APPEAL IS PARTLY ALLOWED. ORDER PRONOUNCED IN THE COURT ON 9 T H JUNE , 201 6 AT AHMEDABAD. SD/ - R.P. TOLANI ( JUDICIAL MEMBER ) AHMEDABAD; DATED 0 9 / 0 6 /201 6 *BIJU T. / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A) 5. , , / DR, ITAT, AHMEDABAD 6. / GUARD FILE . / BY ORDER, TRUE COPY / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD