ACIT, SRIGANGANAGAR v. Shri Vinod Kumar Singhal, SADULSHAHAR

ITA 151/JODH/2014 | 2010-2011
Pronouncement Date: 31-07-2014 | Result: Dismissed

Appeal Details

RSA Number 15123314 RSA 2014
Assessee PAN ADUPS0895E
Bench Jodhpur
Appeal Number ITA 151/JODH/2014
Duration Of Justice 4 month(s) 24 day(s)
Appellant ACIT, SRIGANGANAGAR
Respondent Shri Vinod Kumar Singhal, SADULSHAHAR
Appeal Type Income Tax Appeal
Pronouncement Date 31-07-2014
Appeal Filed By Department
Order Result Dismissed
Bench Allotted DB
Tribunal Order Date 31-07-2014
Date Of Final Hearing 24-07-2014
Next Hearing Date 24-07-2014
Assessment Year 2010-2011
Appeal Filed On 07-03-2014
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH JODHPUR BEFORE SHRI HARI OM MARATHA JUDICIAL MEMBER AND SHRI N.K.SAINI ACCOUNTANT MEMBER ITA NO. 151 / JU/ 20 1 4 ASSESSMENT YEAR: 20 1 0 - 11 THE A.C.I.T VS. S HRI VINOD KUMAR SINGHAL WARD - 2 P/O M/S SHIV SHAKTI ENTERPRISES SRIGANGANAGAR. 26 NEW DHAN MANDI SADULSHAHAR PAN NO. ADUPS 0895 E (APPELLANT) (RESPONDENT) A SSESSEE B Y : NONE (W/S) DEPARTMENT B Y : SHRI N.A. JOSHI DR DATE OF H EARIN G : 24 . 0 7 .201 4 DATE OF PRONOUNCEMENT : 31 . 0 7 . 201 4 ORDER PER HARI OM MARATHA J .M. TH IS APPEAL BY THE REVENUE IS DIRECTED A GAINST THE ORDER OF THE CIT (A) BIKANER DATED 23 . 1 2 .20 1 3 PERTAINING TO A.Y 20 10 - 11 . 2 2. NONE APPEARED ON BEHALF OF THE ASSE SSEE DESPITE BEING SERV ED NOR ANY ADJOURNMENT WAS FILED . THEREFORE W E HAVE HEARD T HE LD. D.R AT LENGTH AND HAVE CAREFULLY PERUSED THE ENTIRE MATERIAL AVAILABLE ON RECORD. SINCE THE ISSUE INVOLVED IN THIS APPEAL STANDS COVERED IN FAVOUR OF THE ASSESSEE - RE SPONDENT WE HAVE HEARD THE APPEAL EXPARTE QUA THE ASSESSEE . 3. THE ONLY ISSUE RAISED IN THIS APPEAL AGAINST THE ORDER OF THE LD. CIT(A) DATED 23.12.2013 IS REGARDING THE RELIEF OF RS. 11 58 785/ - WHICH HAS RESULTED BY APPLYING G.P. RATE OF 6.75% IN PLACE OF 8% APPLIED BY THE A.O. 4. AFTER CONSIDERING THE SUBMISSIONS OF THE LD. D.R WE HAVE FOUND FROM RECORD THAT THE ASSESSEE IS ENGAGED MAINLY IN EXECUTION OF SUPPLY CONTRACTS AND SOME EXTENT IN CIVIL WORKS. IN THIS YEAR THE ASSESSEE HAS ADOPTED N.P . RAT E OF 6.66% IN THE CURRENT YEAR AS AGAINST 5.93% IN THE IMMEDIATELY PRECEDING YEAR. A COMPARATIVE STATEMENT SHOWING GROSS RECEIPTS AND NET PROFIT THIS YEAR AND SOME EARLIER YEARS IS GIVEN BY THE LD. CIT(A) AT PAGE 3 OF HIS ORDER. A FTER 3 CONSIDERING THE SAID CHART WE HAVE FOUND THAT THE N.P. RATE DECLARED IN THIS YEAR IS BETTER THAT THE PRECEDING A.YS. AND EVEN AFTER REJECTION OF BOOKS OF ACCOUNT ONCE THE PAST HISTORY IN ASSESSEES OWN CASE IS APPLIED IT WOULD GIVE A FAIR ESTIMATION OF TR A DING INCOME OF TH E ASSESSEE. THIS IS A SETTLED POSITION OF LAW WH I CH IS BEING CONSISTENTLY FOLLOWED BY THIS BENCH. FOR READY REFERENCE TH E DECISION OF THIS BENCH IN THE CASE OF AJAY GOYAL VS. ITO REPORTED IN 99 TTJ 164 IS BEING REFERRED. THEREFORE IN OUR CONSIDERED OPI NION NOTHING MORE CAN BE ADDED U/S 145(3) OF THE ACT IN THIS YEAR. ACCORDINGLY WE DO NOT FIND ANY INFIRMITY IN THE FINDING GIVEN BY THE LD. CIT(A). 5. IN THE RESULT THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRON OUNCED IN THE COURT ON 31 ST JUL Y 2014. SD/ - SD/ - (N.K.SAINI) [HARI OM MARATHA] ACCOUNTANT MEMBER JUDICIAL MEM B ER DATED : 31 ST JULY 201 4 VL/ - 4 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CI T BY ORDER 4. THE CIT(A) 5. THE DR ASSISTANT REGISTRAR ITAT JODHPUR