Sanjay Bahl, New Delhi V. ITO, Ward-50(3), New Delhi

MA 396/DEL/2019

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3435 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 18 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-07-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 21-07-2022
• Assessment Year: 2015-2016
• Appeal Filed On: 06-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VARUN KOHLI
• Section: 44AD; 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC : NEW DELHI BEFORE SHRI C.M. GARG, JUDICIAL MEMBER Miscellaneous Application No.396/Del/2019 (Arising out of ITAs No.5709 & 5710/Del/2018) Assessment Year: 2015-16 Sanjay Bahl R-520, 2 nd Floor, New Rajinder Nagar, New Delhi. PAN: AAWPB3860H & Vs ITO, Ward 50(3), New Delhi. Sangeeta Bahl R-520, 2 nd Floor, New Rajinder Nagar, New Delhi. PAN: AAWPB3861G Vs ITO, Ward 50(3), New Delhi. (Applicants) (Respondent) Assessee by : Shri Varun Kohli, CA Revenue by : Shri Kanav Bali, Sr. DR Date of Hearing : 22.07.2022 Date of Pronouncement : 25.07.2022 ORDER This Miscellaneous Application u/s 254(2) of the IT Act, 1961 has been filed by the assessees seeking rectification in the order of the ITAT, Delhi, SMC Bench, dated 24.04.2019 for AY 2015-16 (hereinafter ‘the Tribunal order’). MA No.396/Del/2019 2 2. After careful consideration of the rival submissions, I clearly observe that the ld. Sr. DR has candidly agreed to the submissions of the ld. Authorized representative of the assessee that in para 5 of the Tribunal order it was accepted that the duty drawback amount of Rs.1,22,983/- is undoubtedly part of gross receipts of the assessee, therefore, the same deserves to be included while working out profit @8% of gross receipts u/s 44AD of the Income-tax Act, 1961. 3. Therefore, as agreed by the ld. representatives of both the sides, the AO is directed to compute the gross profit of the assessee of Rs.1,22,983/- @ 8% u/s 44AD of the Act. 4. In the result, the Miscellaneous Application filed by the assessees is disposed of in the terms as indicated above. Order pronounced in the open court on 25.07.2022. Sd/- (C.M. GARG) JUDICIAL MEMFBER Dated: 25 th July, 2022 dk Copy forwarded to 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asstt. Registrar, ITAT, New Delhis