ACIT, Jaipur V. M/S ALLIED GEMS CORPORATION, Jaipur

MA 105/JPR/2018

• Counselvise Citation: [2018] 123 COUNSELVISE.COM (IT) 0822 (ITAT-JAIPUR)
• Duration Of Justice: 2 month(s) 4 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 31-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K MAHALA
• Assessee Lawyers: RAJEEV SOGANI C A DHK
• Keywords: Rectification of order

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH FOT; IKY JKWO] U;KF;D LNL; ,OA JH FOE FLAG ;K NO ] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM AND SHRI VIKRAM SING H YADAV, AM M.A. NOS. 103,104 & 105/JP/2018 ( ARISING OUT OF VK;DJ VIHY LA-@ ITA NOS. 794, 795/JP/2011 & 716/JP/2012) FU/KZKJ.K O'K Z@ ASSESSMENT YEARS : 2005-06, 07-08 & 08-09. THE DCIT, CIRCLE-1, JAIPUR. CUKE VS. M/S. ALLIED GEMS CORPORATION, BHANDIA BHAWAN, JOHARI BAZAR, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AACFA 2928 D VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS@ REVENUE BY : SHRI A.K. MAHALA (JCIT) FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI RAJEEV SOGANI (CA) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 05.10.2018. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 05/10/2018. VKNS'K@ ORDER PER VIJAY PAL RAO, JM : THESE MISCELLANEOUS APPLICATIONS BY THE REVENUE ARE DIRECTED FOR RECTIFICATION OF MISTAKE IN THE COMPOSITE ORDER DATED 15.12.2017 OF THIS TRIBUNAL FOR THE ASSESSMENT YEARS 2005-06, 07-08 AND 08-09. A COMMON MISTAKE HAS BEEN ALLEGED BY THE REVENUE IN THE SAID ORDER FOR ALL THE YEARS. 2. THE LD. D/R HAS SUBMITTED THAT THE TRIBUNAL HAS CONFIRMED THE ORDER OF THE LD. CIT (A) RESTRICTING THE ADDITION BY TAKING GP RATE OF 13.6% AS AGAINST 25% DISALLOWANCE MADE BY THE AO WHEREAS IN THE CASE OF M/S. SHRI KHANDELWAL DIAMONDS PVT. LTD. THE TRIBUNAL VIDE ORDER DATED 15.12.2017 HAS CONFIRMED THE ORDER OF THE LD. 2 MA NOS. 103-, 104 & 105/JP/2018 M/S. ALLIED GEMS CORPORATION, JAIPUR. CIT (A) RESTRICTING THE ADDITION BY TAKING GP RATE OF 15%. THUS THE ONLY MISTAKE ALLEGED BY THE REVENUE IN THE IMPUGNED ORDER IS THA T THE GP RATE OF 13.60% WAS CONFIRMED BY THE TRIBUNAL IN THIS CASE WHEREAS IN T HE ANOTHER CASE THE GP RATE OF 15% WAS CONFIRMED. 3. ON THE OTHER HAND, THE LD. A/R OF THE ASSESSEE H AS SUBMITTED THAT THERE IS NO APPARENT MISTAKE IN THE IMPUGNED ORDER OF THE TRIBU NAL WHEN THE ISSUE WAS DECIDED ON MERITS AND THE ESTIMATION OF INCOME BY TAKING TH E GP RATE CANNOT BE A STANDARD PERCENTAGE FOR ALL THE CASES BUT IT HAS TO BE BASED ON THE PAST HISTORY OF EACH CASE. 4. HAVING CONSIDERED THE RIVAL SUBMISSIONS AS WELL AS CAREFUL PERUSAL OF THE RECORD, WE NOTE THAT THE ONLY GRIEVANCE OF THE REVE NUE AS RAISED IN THE MISCELLANEOUS APPLICATIONS IS REGARDING THE GP RATE ADOPTED IN THE PRESENT CASE AT 13.60% AS AGAINST THE GP RATE OF 15% ADOPTED IN THE CASE OF M/S. SHRI KHANDELWAL DIAMONDS PVT. LTD. IN OUR CONSIDERED OPINION THIS CANNOT BE A MISTAKE APPARENT ON RECORD AS THE ESTIMATION OF INCOME AFTER REJECTION OF BOOKS OF ACCOUNT SHOULD BE BASED ON SOME REASONABLE AND PROPER CRITERIA. THE PAST HISTORY OF GP RATE OF THE ASSESSEE IS A GOOD GUIDANCE FOR ESTIMATION OF INCOM E, THEREFORE, A GP RATE ADOPTED IN ONE CASE CANNOT BE A STANDARD CRITERIA FOR THE O THER CASE AS EACH CASE HAS TO BE CONSIDERED ON THE BASIS OF THE SPECIFIC FACTS. WE FURTHER NOTE THAT THE FINDING OF THE TRIBUNAL IS CONSISTENT IN BOTH THE CASES SO FAR AS THE PRINCIPLE OF ESTIMATION OF INCOME BY CONSIDERING THE PAST HISTORY OF GP RATE O F THE ASSESSEE AS A REASONABLE AND PROPER BASIS. HENCE, WE DO NOT FIND ANY MERIT O R SUBSTANCE IN THESE MISCELLANEOUS APPLICATIONS OF THE REVENUE. 3 MA NOS. 103-, 104 & 105/JP/2018 M/S. ALLIED GEMS CORPORATION, JAIPUR. 5. IN THE RESULT, MISCELLANEOUS APPLICATIONS OF THE REVENUE ARE DISMISSED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 05/10/2 018. SD/- SD/- ( FOE FLAG ;KNO ) ( FOT; IKY JKWO (VIKRAM SINGH YADAV ) (VIJAY PAL RAO) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 05/10/2018. DAS/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- THE DCIT, CIRCLE-1, JAIPUR. 2. THE RESPONDENT M/S. ALLIED GEMS CORPORATION, J AIPUR. 3. THE CIT(A). 4. THE CIT, 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (MA NO. 103, 104 & 105/JP/2018) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR 4 MA NOS. 103-, 104 & 105/JP/2018 M/S. ALLIED GEMS CORPORATION, JAIPUR.