ACIT, Berhampur V. M/s Odisha Buildrs & Engineering Construction Comapny, Rayagada

MA 33/CTK/2011

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8617 (ITAT-CUTTACK)
• Duration Of Justice: 8 month(s) 4 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 25-06-2012
• Appeal Filed By: Department
• Bench Allotted: DB
• Next Hearing Date: 18-05-2012
• Assessment Year: 2005-2006
• Appeal Filed On: 21-10-2011
• Court: TRIBUNAL
• Assessee Lawyers: S C MOHANTY
• Keywords: Depreciation

Judgement Text

IN THE INC O ME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE : SHRI K.K.GUPTA, AM , AND SHRI K.S.S.PRASAD RAO, JM MISC.APPLICATION NOS.33 & 34/CTK/2011 IN ITA NO S . 243 AND 244/CTK/2011, ORDER DT.14.03.2011 (ASSESSMENT YEAR S 2005 - 06 AND 2006 - 07) ODISHA BUILDER AND ENGINEERING CONSTRUCTION CO., PANCHAVATI NAGAR, AT/P.O.RAYAGADA 765 001 PAN: AABFO 1123 F VERSUS INCOME - TAX OFFICER, RAYAGADA (APPELLANT) (RESPONDENT) FOR THE APPELLANT: NONE FOR THE RESPONDENT SHRI S.C.MOHANTY, DR DATE OF HEARIN G : 18.05.2012 DATE OF PRONOUNCEMENT : ORDER SHRI K.S.S.PRASAD RAO, JM : THE REVENUE HAS FILED THESE MISC. APPLICATIONS FOR RECONSIDERATION OF THE ORDER DT.14.03.2011 PASSED BY THIS TRIBUNAL IN ITA NOS.243 & 244/CTK/2011 FOR THE AYS 20 05 - 06 AND 2006 - 07. 2. NONE APPEARED FOR ASSESSEE AND H AVING HEARD THE LEARNED DR AND CAREFULLY GOING THROUGH THE IMPUGNED ORDER DT.14.03.2011 PASSED BY THIS TRIBUNAL, WE FIND THAT THIS TRIBUNAL HAS AFTER CONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE AND ALSO PAST HISTORY IN CASE OF THE ASSESSEE AND ALSO TAKING INTO CONSIDERATION THE SUBMISSIONS OF THE AR OF THE ASSESSEE AND DEPARTMENTAL REPRESENTATIVE AT THE TIME OF HEARING OF APPEAL, HAS DIRECTED ESTIMATION OF NET PROFIT OF 3% OF THE GROSS RECEIPTS AFTER DEPRECIATION AS AGAINST 8% MADE BY THE ASSESSING OFFICER AND 7% MADE BY THE CIT(A). SINCE THE ESTIMATION OF NET PROFIT IS AS A RESULT OF BEST JUDGMENT , THE PRAYER OF THE REVENUE IN THESE MISC.APPLICATIONS, IF ALLOWED, WOULD AMOUNT TO REVIEW OF THE OR DER, WHICH IS NOT PERMISSIBLE UNDER LAW. IN SUCH VIEW OF THE MATTER, WE MISC.APPLICATION NOS.33 & 34/CTK/2011 2 DISMISS THE MISC.APPLICATIONS FILED BY THE REVENUE FINDING THEM DEVOID OF MERIT. 3. IN THE RESULT, THE MISC.APPLICATIONS FILED BY THE REVENUE ARE DISMISSED. SD/ - SD/ - (K.K. GUPTA) ACCOUNTANT MEMBER ( K.S.S.PRASAD RAO) JUDICIAL MEMBER DATE: 25.06.2012 H.K.PADHEE, SENIOR PRIVATE SECRETARY. COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT: ODISHA BUILDER AND ENGINEERING CONSTRUCTION CO., PANCHAVATI NAGAR, AT/P.O.RAYAGADA 765 001 2. THE RESPONDENT: INCOME - TAX OFFICER, RAYAGADA 3. THE CIT, 4. THE CIT(A), 5. THE DR, CUTTACK 6. GUARD FILE (IN DUPLICATE) TRUE COPY, BY ORDER, SENIOR PRIVATE SECRETARY. APPENDIX XVII SEAL TO BE AFFIXED ON THE ORDER SHEET BY THE SR. P.S./P.S. AFTER DICTATION IS GIVEN 1. DATE OF DICTATION 29.05.2012 .. 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 01.06.2012 OTHER MEMBER . 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P.S./P.S. 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT.... 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. P.S./P.S . 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK .. 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER ................ 9. DATE OF DESPATC H OF THE ORDER ..