ACIT, Jaipur V. PARASMAL JAIN, Jaipur

MA 41/JPR/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4519 (ITAT-JAIPUR)
• Duration Of Justice: 1 month(s) 12 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-07-2016
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 23-05-2016
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RAJENDRA SINGH
• Assessee Lawyers: G G MUNDRA

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH HKKXPAN] YS[KK LNL; ,OA JH YFYR DQEKJ] U;KF;D LN L; DS LE{K BEFORE: SHRI BHAGCHAND, AM & SHRI LALIET KUMAR, JM M.A. NO. 41/JP/2016 (ARISING OUT OF ITA NO. 916/JP/2012 & 22/JP/2013) FU/KZKJ.K O'K Z @ ASSESSMENT YEAR: 2009-10 A.C.I.T., CENTRAL CIRCLE-1, JAIPUR CUKE VS. PARASMAL JAIN, PROP.-M/S PARAS GOTTAM & CO., PLOT NO. 525, TIWARIJI KA BAGH, ACHARYA KIRPLANI MARG, ADARSH NAGAR, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO. ABTPJ 9660 M VIHYKFKHZ @ APPELLANT IZR;FKHZ @ RESPONDENT JKTLO DH VKSJ LS @ REVENUE BY : SHRI RAJENDRA SINGH (ADDL.CIT). FU/KZKFJRH DH VKSJ LS @ ASSESSEE BY : SHRI G.G. MUNDRA (CA) LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 01/07/2016 MN?KKS'K .KK DH RKJH[ K @ DATE OF PRONOUNCEMENT : 04/07/2016 VKNS'K @ ORDER PER: LALIET KUMAR, J.M. THE REVENUE HAS FILED THE PRESENT MISC. APPLICATION ON 17/05/2016 AGAINST THE ORDER OF THE ITAT, JAIPUR BEN CH, JAIPUR DATED 17/07/2015 PASSED IN ITA NO. 916/JP/2012 AND 22/JP/ 2013 FOR A.Y. 2009-10 FOR SEEKING MODIFICATION AS UNDER:- M.A. NO. 41/JP/2016 ACIT VS. PARASMAL JAIN 2 2. WHILE DECIDING THE ASSESSEES APPEAL, THE HON BLE ITAT IN PARA 3.1 ON PAGE 2 OF ABOVE REFERRED ORDER HAS OBSE RVED AS UNDER:- THE SOLITARY GROUND RAISED BY THE ASSESSEE IS AS UN DER:- RESTRICTING THE TRADING ADDITION TO RS. 12,67,489/- AGAINST RS. 20,94,790/- MADE BY THE A.O. WITHOUT APPRECIATING THE FACT THAT THE A.O. HAD APPLIED THE GROSS PROFIT RATE OF 23.87% AS DECLARED BY THE ASSE SSEE HIMSELF IN THE A.Y. 2007-08. 4. IN THE LIGHT OF ABOVE, THE PRESENT MISCELLANEO US APPLICATION IS BEING PREFERRED BEFORE THE HONBLE ITAT ON THE FO LLOWING GROUNDS: 1. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE, THE HONBLE ITAT, HAS ERRED IN CONSIDERING THE GROUN D RAISED BY THE DEPARTMENT AS OF THE ASSESSEE. 2. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE HONBLE ITAT, HAS ERRED IN CONSIDERING THE TRADI NG ADDITION AS RS. 20,94,790/- WHILE IT WAS RS. 33,62,7 29/-. 2. WE HAVE GONE THROUGH THE GROUNDS OF APPEAL AS WEL L AS THE ORDER DATED 17/7/2015 PASSED BY THE COORDINATE BENCH, IN OUR VIEW, THE GROUNDS RAISED BY THE REVENUE ARE SAME AS MENTIONED IN PARAGRAPHS NO. 3.1 OF THE ORDER DATED 17/7/2015. THEREFORE, TH E APPLICATION OF THE REVENUE FOR MODIFICATION OF THE ORDER WHEREBY THE RE VENUE HAS SOUGHT MODIFICATION OF THE GROUNDS OF APPEAL IN THE ORDER DATED 17/7/2015 IS DISMISSED. M.A. NO. 41/JP/2016 ACIT VS. PARASMAL JAIN 3 3. THE NEXT GROUND RAISED BEFORE US BY WAY OF M.A. IS WITH RESPECT TO CHANGE OF THE ASSESSEE WITH DEPARTMENT IN PARAGRA PH 3.1, IN OUR VIEW THE ERROR MENTIONED BY THE REVENUE IN THE ORDER IS APPARENT, THEREFORE, THE SAID ERROR IS DIRECTED TO BE CURED, ACCORDINGLY, PARAGRAPH NO. 3.1 OF THE ORDER DATED 17/7/2015 IS READ AS UND ER:- 3.1 THE SOLITARY GROUND RAISED BY THE DEPARTMENT IS AS UNDER:- RESTRICTING THE TRADING ADDITION TO RS. 12,67,489/ - AGAINST RS. 20,94,790/- MADE BY THE A.O. WITHOUT APPRECIATIN G THE FACT THAT THE A.O. HAD APPLIED THE GROSS PROFIT RAT E OF 23.87% AS DECLARED BY THE ASSESSEE HIMSELF IN THE A .Y. 2007-08. ACCORDINGLY, IN THE LIGHT OF ABOVE, THE CORRECTION IS CARRIED OUT IN THE ORIGINAL ORDER DATED 17/7/2015. IN VIEW THEREOF, THE CORRIGENDUM IS ISSUED. ACCORDINGLY, THIS M.A. APPLICATION IS DISPO SED OFF. ORDER PRONOUNCED IN THE OPEN COURT ON 04/07/2016. SD/- SD/- HKKXPAN YFYR DQEKJ (BHAGCHAND) (LALIET KUMAR) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ @ JAIPUR FNUKAD @ DATED:- 04 TH JULY, 2016 *RANJAN VKNS'K DH IZFRFYFI VXZSFKR @ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ @ THE APPELLANT- THE A.C.I.T., CENTRAL CIRCLE-1, JAIPUR . M.A. NO. 41/JP/2016 ACIT VS. PARASMAL JAIN 4 2. IZR;FKHZ @ THE RESPONDENT- SHRI PARASMAL JAIN, JAIPUR. 3. VK;DJ VK;QDR @ CIT 4. VK;DJ VK;QDR @ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ @ DR, ITAT, JAIPUR 6. XKMZ QKBZY @ GUARD FILE (M.A. 41/JP/2016) VKNS'KKUQLKJ @ BY ORDER, LGK;D IATHDKJ @ ASST. REGISTRAR