ADITYA SHARMA, Jaipur V. ITO, Jaipur

ITA 987/JPR/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99536 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 11 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-11-2015
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 16-12-2013
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAJ MEHRA JCIT DR 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 VKJ-IH-RKSYKUH] U;KF;D LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JUDICIAL MEMBER VK;DJ VIHY LA-@ ITA NO. 987/JP/2013 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2008-09 SHRI ADITYA SHARMA PROP.: M/S. RICHA MARBLES, C-702, MAHARAJA APARTMENT, BANI PARK, JAIPUR CUKE VS. THE ITO WARD- 3(2) JAIPUR LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO .: ANVPS 5653 B VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI MANISH AGARWAL JKTLO DH VKSJ LS@ REVENUE BY :SHRI RAJ MEHRA, JCIT -DR LQUOKBZ DH RKJH[K@ DATE OF HEARING : 30/11/2015 ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 30 /11/2015 VKNS'K@ ORDER PER R.P. TOLANI, JM THIS IS ASSESSEES APPEAL, ARISING FROM THE ORDER OF LD. CIT(A) I, JAIPUR ; DATED 10-10-2013. EXCEPT GROUND NO 2 ALL O THER GROUNDS ARE NOT PRESSED HENCE DISMISSED. GROUND 2 READS AS UNDER: THAT THE LD. CIT(A) HAS FURTHER ERRED IN SUSTAINI NG AN ADDITION OF RS. 8,43,173/- BY APPLYING GROSS PROFIT RATE OF 21% INSTEAD OF 12.89% DECLARED BY THE ASSESSEE WITH OUT CONSIDERING THE SUBMISSION MADE AND EVIDENCES ADDUC ED. HENCE, THE ADDITION SO UPHOLD DESERVES TO BE DELETE D. 2.1 THE LD. AR OF THE ASSESSEE AT THE OUTSET CONT ENDS THAT THE ISSUE IN QUESTION MAY BE SET ASIDE TO THE FILE OF THE AO TO DECIDE THE SAME AFRESH ITA NO. 987/JP/2013 SHRI ADITYA SHARMA VS. ITO, WARD- 3(2), JAIPUR . 2 AFTER THE JUDGEMENT RENDERED IN THE CASE OF SHRI AN UJ KUMAR VARSHNEY AND OTHERS VS. ITO (SUPRA) BY HON'BLE RAJASTHAN HI GH COURT, AFTER GIVING THE ASSESSEE A REASONABLE OPPORTUNITY OF BEI NG HEARD IN ACCORDANCE WITH LAW. 2.2 THE LD. DR CONTENDS THAT COORDINATE BENCH OF I TAT IN BUNCH OF APPEALS BY ITS CONSOLIDATED ORDER IN THE CASE OF AN UJ KUMAR VARSHNEY & OTHERS VS. ITO (ITA NO. 187/JP/2012 DATED 20-10-201 4) HAS HELD THAT 15% OF THE UNVERIFIABLE PURCHASES SHALL HELD TO BE THE INCOME OF THE ASSESSEE FROM UNDISCLOSED SOURCES IN THE RELEVANT Y EAR. THEREFORE, THE APPEAL MAY BE DECIDED IN VIEW OF THE ITAT ORDER. AT THE SAME TIME, IT IS PLEADED THAT BOTH THE REVENUE AND ASSESSEE HAVE GON E IN APPEAL BEFORE HON'BLE RAJASTHAN HIGH COURT AGAINST THIS BUNCH O F ORDERS. 2.3 WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. WE FIND MERIT IN THE PROPOSAL OF BOTH THE PARTIES. ACCORDINGLY, WE ARE INCLINED TO SET ASIDE THE ISSUE S RAISED IN THE APPEAL FOR THE ASSESSMENT YEAR 2008-09 AND RESTORE THE MA TTERS TO THE FILE OF AO TO DECIDE THE SAME AFRESH AFTER THE JUDGMENT OF HON 'BLE RAJASTHAN HIGH COURT IN THE CASE OF ANUJ KUMAR VARSHNEY AND OTHERS VS. ITO (SUPRA) IS DELIVERED, AFTER GIVING ADEQUATE OPPORTUNITY OF BEI NG HEARD TO THE PARTIES. ITA NO. 987/JP/2013 SHRI ADITYA SHARMA VS. ITO, WARD- 3(2), JAIPUR . 3 THUS THE APPEAL OF THE ASSESSEE RELATING TO UNVERI FIABLE PURCHASES IS ALLOWED FOR STATISTICAL PURPOSES. 3.0 IN THE RESULT ASSESSEES APPEAL IS PARTLY ALLO WED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 30 /11/201 5 SD/- VKJ-IH-RKSYKUH (R.P.TOLANI) U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 30 /11/ 2015 *MISHRA VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- SHRI ADITYA SHARMA, JAIPUR 2. IZR;FKHZ@ THE RESPONDENT- THE ITO, WARD-3(2), JAIPUR 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. 987/JP/2013) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR