PAKEZAH FISH CO,HOWRAH V. ADDL / JCIT (APPEALS)-7, MUMBAI PRESENT JAO, INCOME TAX OFFICER, WARD-47(2), KOLKATA

ITA 327/KOL/2025

AI Insights

The case involves Pakeezah Fish Co., a dealer in fish, who appealed against the order of the Addl./JCIT(A)-7, Mumbai, for the assessment year 2017-2018. The primary contention was regarding the rate at which the income should be estimated by the Assessing Officer. Initially, the income was estimated at 8% of the total turnover due to a consequential cash deposit in the assessee's bank account. However, the assessee argued that the correct rate should be 5%, which was the rate consistently declared in subsequent years and accepted in previous assessments. The Tribunal agreed with the assessee's position and directed the Assessing Officer to revise the income estimation to 5%.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 705834 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-07-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Assessment Year: 2017-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: S.B. CHAKRABORTHY
• Assessee Lawyers: MIRAZ D. SHAH
• Keywords: Condonation of delay

Judgement Text

" आयकर अपीलीय अधिकरण,“एस.एम.सी” न्यायपीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, KOLKATA श्री जाजज माथन, न्याययक सदस्य क े समक्ष । BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER ITA No.327/KOL/2025 (नििाारण वर्ा /Assessment Year : 2017-2018) Pakeezah Fish Co. Stall No.44, HIT Fish Market Howrah Vs ITO Ward-47(2), Kolkata PAN No. :AAHFP 0183 E (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) नििााररती की ओर से /Assessee by : Shri Miraz D. Shah, AR राजस्व की ओर से /Revenue by : Shri S.B.Chakraborthy, Sr. DR सुनवाई की तारीख / Date of Hearing : 03/07/2025 घोषणा की तारीख/Date of Pronouncement : 03/07/2025 आदेश / O R D E R This is an appeal filed by the assessee against the order dated 28.06.2024, passed by the Addl./JCIT(A)-7, Mumbai, for the assessment year 2017-2018. 2. Shri Miraz D. Shah, ld. AR appeared on behalf of the assessee and Shri S.B.Chakraborthy, ld. Sr. DR appeared on behalf of the revenue. 3. The appeal of the assessee is time barred by 170 days. In this regard, the assessee has filed affidavit in support of the condonation of delay stating therein sufficient reasons which are not found to be false. Ld.Sr. DR also did not raise any serious objection. Accordingly, delay of 170 days in filing the present appeal is condoned and appeal of the assessee is admitted for hearing. ITANo.327/KOL/2025 2 4. It was the submission of the ld. AR that assessee is a dealer in fish. It was the submission that there was consequential cash deposit in the bank account of the assessee and assessment proceedings have been initiated against the assessee. As the assessee has been called to produce the details before the Assessing Officer, the Assessing Officer had estimated the income of the assessee at 8% on the total turnover of Rs.1,78,57,075/- It was submitted by the ld. AR that the assessee had himself confirmed during the period from 01.04.2016 to 31.03.2017, the source of income is commission at 5% on the transaction of fish trading. This has also incorporated by the Assessing Officer in his assessment order. It was the submission that the estimation as done by the Assessing Officer may be restricted to 5%. 5. In reply, ld.Sr. DR relied on the order of the ld.AO and ld. CIT(A). 6. I have considered the rival submissions. A perusal of the facts clearly shows that for subsequent assessment years, the assessee is filing his returns of income disclosing income of Rs.34,200/- and Rs.90,600/-, respectively for the assessment years 2018-2019 and 2019-2020. Admittedly, the assessee has accepted 5% as the commission in fish trading. This being so, I am of the view that the income of the assessee can be estimated at 5% of the total turnover of Rs.1,78,57,075/- as has been accepted by the assessee in the statement made before the Assessing Officer and also before the Tribunal. This being so, the Assessing Officer is directed to estimate the income of the assessee at 5% instead of 8%. ITANo.327/KOL/2025 3 7. In the result, appeal of the assessee is partly allowed. Order pronounced in the open Court on 03/07/2025. Sd/- (जाजज माथन) (GEORGE MATHAN) न्यानयक सदस्य / JUDICIAL MEMBER कोलकाता Kolkata; ददनाांक Dated 03/07/2025 Prakash Kumar Mishra, Sr.P.S. आदेश की प्रनतललपप अग्रेपर्त/Copy of the Order forwarded to : आदेशािुसार/ BY ORDER, (Assistant Registrar) Income Tax Appellate Tribunal, Kolkata 1. अपीलाथी / The Appellant- 2. प्रत्यथी / The Respondent- 3. आयकर आयुक्त(अपील) / The CIT(A), 4. आयकर आयुक्त / CIT 5. ववभागीय प्रयतयनधि, आयकर अपीलीय अधिकरण, कोलकाता / DR, ITAT, Kolkata 6. गार्ज फाईल / Guard file. सत्यावपत प्रयत //True Copy// "