Pragat Agro Products Pvt. Ltd, Jalna V. Income tax Officer,Ward -2, Jalna

MA 17/PUN/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6440 (ITAT-PUNE)
• Duration Of Justice: 8 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 13-08-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SANJEEV GHEI
• Assessee Lawyers: SANJEEVKUMAR KABRA
• Keywords: Business income
• Section: 145

Judgement Text

- IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC , PUNE , , . , BEFORE MS. SUSHMA CHOWLA, JM AND SHRI D. KARUNAKARA RAO , AM MA NO.17/PUN/2019 ARISING OUT OF ITA NO. 49/PUN/2017 ASSESSMENT YEAR : 2010 - 11 M/S. PRAGAT AGRO PRODUCTS PVT. LTD., C/O SANJEEVKUMAR KABRA, ADVOCATE 1 ST FLOOR, AMBIKA MARKET, JALNA 431203 . APPLICANT PAN: AAFCP2227E VS. THE INCOME TAX OFFICER, WARD 2, JALNA . RESPONDENT APPLICANT BY : SHRI SANJEEV KUMAR KABRA RESPONDENT BY : SHRI SANJEEV GHEI / DATE OF HEARING : 05 . 0 4 .201 9 / DATE OF PRONOUNCEMENT: 07 . 0 5 .201 9 / ORDER PER SUSHMA CHOWLA, J M : THE PRESENT MISCELLANEOUS APPLICATION HAS BEEN FILED BY THE APPLICANT AGAINST THE ORDER OF TRIBUNAL, DATED 26.03.2018. 2. VIDE PRESENT MISCELLANEOUS APPLICATION, THE APPLICANT IS AGGRIEVED BY THE ORDER OF TRIBUNAL IN DIRECTING THE ASSESSING OFFICER TO APPLY GP RATE OF 1% ON TOTAL TURNOVER OF 11.83 CRORES. THE APPLICANT CLAIMS THAT IT HAD DECLARED MA NO. 17 /P U N/201 9 PRAGAT AGRO PRODUCTS PVT. LTD. 2 LOSS OF 15.32 LAKHS AFTER DISCLOSING GP RATE OF 4.46% IN HIS BOOKS OF ACCOUNT AND THE TRIBUNAL HAS HELD THAT INCOME IS TO BE ASSESSED AT 1% OF TOTAL SALES ON 11.83 CRORES, WHICH WOULD RESULT IN DISALLOWANCE / ADDITION OF THE LOSS INCURRED BY APPLICANT. THE PLEA OF APPLICANT IS THAT THE ORDER OF TRIBUNAL SHOULD BE RECALLED AND THE APPEAL SHOULD BE DECIDED ON MERITS. 3. THE LEARNED AUTHORIZED REPRESENTATIVE FOR THE APPLICANT POINTED OUT THAT ADMITTEDLY, THE BOOKS OF ACCOUNT FOR THE ASSESSMENT YEAR 2010 - 11 WERE PREPARED IN SEPTEMBER, 2012, ON THE BASIS OF WHICH LOSS WORKED OUT TO 15,32,732/ - . IT WAS PUT TO THE LEARNED AUTHORIZED REPRESENTATIVE FOR THE APPLICANT THAT HOW SUCH BOOKS OF ACCOUNT COULD BE RELIED UPON WHEN THE YEAR UNDER CONSIDERATION WAS FINANCIAL YEAR 2009 - 10 AND FURTHER THE APPLICANT HAD NOT PRODUCED ANY EVIDENCE OF LOSS FOR THE YEAR. IT WAS AGAIN PUT TO THE LEARNED AUTHORIZED REPRESENTATIVE FOR THE APPLICANT TO POINT OUT THE ERROR IN THE ORDER OF TRIBUNAL AND HE STRESSED THAT THE SAID RATE OF 1 % ON TOTAL SALES TO DETERMINE INCOME IN THE HANDS OF APPLICANT WAS INCORRECT. 4. WE FIND NO MERIT IN THE PRESENT MISCELLANEOUS APPLICATION MOVED BY THE APPLICANT, WHICH IS NOTHING BUT RE - ARGUING THE APPEAL ON MERITS. THE TRIBUNAL VIDE PARA 11 HAD CONSIDERED THE FACTS THAT THE ASSESSEE HAD FAILED TO FILE THE ORIGINAL RETURN OF LOSS AND HENCE, THE PLEA OF APPLICANT THAT IT HAD INCURRED LOSSES WAS NOT BACKED BY ANY EVIDENCE. FURTHER, THE AUDIT REPORT IN THE CASE WAS SIGN ED BY THE AUDITOR ON 28.09.2012 I.E. MUCH AFTER DUE DATE OF SIGNING AND FILING THE AUDIT REPORT FOR THE YEAR ENDING 31.03.2010. IN SUCH SCENARIO, PROVISIONS OF SECTION 145 OF THE ACT WERE HELD TO BE SQUARELY ATTRACTED AND THE ASSESSING OFFICER WAS DIRECTE D TO APPLY GP RATE OF 1% ON TOTAL TURNOVER OF MA NO. 17 /P U N/201 9 PRAGAT AGRO PRODUCTS PVT. LTD. 3 11.83 CRORES IN ORDER TO DETERMINE THE INCOME IN THE HANDS OF ASSESSEE. THE PRESENT MISCELLANEOUS APPLICATION MOVED BY THE APPLICANT IS NOT MAINTAINABLE AS IT AMOUNTS TO RE - ARGUING THE APPEAL AND THE SAME I S DISMISSED. 5 . IN THE RESULT, MISCELLANEOUS APPLICATION OF APPLICANT IS DISMISSED. ORDER PRONOUNCED ON THIS 7 TH DAY OF MAY , 201 9 . SD/ - SD/ - ( D.KARUNAKARA RAO ) (SUSHMA CHOWLA ) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE ; DATED : 7 TH MAY , 201 9 . GCVSR / COPY OF THE ORDER IS FORWARDED TO : 1. THE APP LICANT ; 2. THE RESPONDENT; 3. THE CIT(A) - 1 , AURANGABAD ; 4. THE PR. CIT - 1 , AURANGABAD ; 5. THE DR SMC , ITAT, PUNE; 6. GUARD FILE . / BY ORDER , // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE