ITO, Gwalior v. Sh. Vinod Kumar Sharma, Morena

ITA 2/AGR/2009 | 2002-2003
Pronouncement Date: 21-04-2010 | Result: Dismissed

Appeal Details

RSA Number 220314 RSA 2009
Assessee PAN ASIPS9547G
Bench Agra
Appeal Number ITA 2/AGR/2009
Duration Of Justice 1 year(s) 3 month(s) 11 day(s)
Appellant ITO, Gwalior
Respondent Sh. Vinod Kumar Sharma, Morena
Appeal Type Income Tax Appeal
Pronouncement Date 21-04-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted DB
Tribunal Order Date 21-04-2010
Date Of Final Hearing 21-04-2010
Next Hearing Date 21-04-2010
Assessment Year 2002-2003
Appeal Filed On 09-01-2009
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH AGRA BEFORE SHRI R.K. GUPTA JUDICIAL MEMBER AND SHRI P.K. BANSAL ACCOUNTANT MEMBER ITA NO.02/AGR/2009 ASST. YEAR: 2002-03 THE INCOME-TAX OFFICER VS. SHRI VINOD KUMAR SH ARMA WARD 2(2) GWALIOR. PROP. B.M. AGENCIES M.S. ROAD MORENA. (PAN : ASIPS 9547 G). (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI R.C. SHARMA JR. D.R. RESPONDENT BY : NONE ORDER PER P.K. BANSAL A.M.: THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF THE CIT(A) DATED 22.09.2008 BY TAKING THE FOLLOWING EFFECTIVE GROUND S OF APPEAL :- (1) ON THE FACTS AND IN THE CIRCUMSTANCES OF THE C ASE THE LD. COMMISSIONER OF INCOME-TAX (A) HAS ERRED IN LAW AND FACTS IN GRANTI NG RELIEF OF RS.7 09 195/- OUT OF ADDITIONS MADE BY THE A.O. OF RS.6 32 184/- ON ACCO UNT OF UNEXPLAINED PURCHASES. (2) ON THE FACTS AND CIRCUMSTANCES OF THE CASE THE LD. CIT(A) GWALIOR HAS ERRED IN LAW AND FACTS IN GRANTING RELIEF OF RS.1 7 7 011/- ON ACCOUNT OF ADDITIONAL G.P. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. THE NO TICE SENT THROUGH REGISTERED POST WITH A.D. WAS RETURNED BY POSTAL AUTHORITY. WE THEREFO RE DECIDED TO DISPOSE OF THE APPEAL AFTER HEARING THE LD. D.R. 2 3. SO FAR AS THE GROUND NO.1 IS CONCERNED WHICH RE LATES TO THE DELETION OF ADDITION OUT OF ADDITIONS MADE ON ACCOUNT OF UNEXPLAINED PURCHASES WHILE THE GROUND NO.2 RELATES TO THE RELIEF GIVEN OUT OF THE ADDITION MADE ON ACCOUNT OF ADDITI ONAL GROSS PROFIT. 4. AFTER CAREFULLY CONSIDERING THE SUBMISSIONS MADE BY THE LD D.R. WE NOTED THAT THE ASSESSEE MADE PURCHASES OF RS.12 64 367/- FROM 4 PA RTIES AS STATED AT PAGE NO.3 OF THE ORDER OF THE CIT(A). THE A.O. DISALLOWED 50% OF THE PURCHAS ES TREATING THEM TO BE NON-GENUINE PURCHASES ON THE BASIS OF THE COPY OF ACCOUNTS RECE IVED BY THE A.O. DIRECTLY FROM THESE PARTIES. WHEN THE MATTER WENT BEFORE THE CIT(A) THE ASSESSE E RECONCILED THE PURCHASES TO THE EXTENT OF RS.6 93 424/- AND UN-RECONCILED AND UNRECORDED PURC HASES REMAINED ONLY AT RS.5 70 943/-. THE CIT(A) APPLYING THE PEAK THEORY ESTIMATED THE PROF IT ON SUCH PURCHASES ALONGWITH THE INVESTMENT AT RS.1 00 000/- AND CONFIRMED THE ADDIT ION TO THE EXTENT OF RS.1 00 000/- OUT OF THE THE TWO ADDITIONS OF RS.6 32 184/- ON ACCOUNT OF UN EXPLAINED PURCHASES AND RS.1 77 011/- ON ACCOUNT OF ADDITIONAL GROSS PROFIT. WE NOTED THAT THE CIT(A) HAS DULY VERIFIED THE RECONCILIATION SUBMITTED BY THE ASSESSEE AND CAME TO THE CONCLUSIO N THAT THE UN-RECONCILED PURCHASES WERE ONLY TO THE EXTENT OF RS.5 70 943/-. THE CIT(A) HAS ALS O VERIFIED THE PEAK INVESTMENT AND ACCORDINGLY ESTIMATED THE ADDITION TO THE EXTENT OF RS.1 00 000 /- TOWARDS INVESTMENT ON THE PROFIT ON UNEXPLAINED PURCHASES. 5. LD. D.R. ALTHOUGH VEHEMENTLY ARGUED AND RELIED O N THE ORDER OF THE A.O. BUT COULD NOT SUBMIT ANY MATERIAL OR EVIDENCE WHICH MAY PROVE THA T THE CIT(A) HAS NOT VERIFIED THE RECONCILIATION OF PURCHASES MADE BY THE A.O. OR THE RECONCILIATION SO MADE WAS NOT CORRECT. 3 UNDER THESE FACTS AND CIRCUMSTANCES WE ARE OF THE VIEW THAT NO INTERFERENCE IS CALLED FOR IN THE ORDER OF THE CIT(A) AND WE ACCORDINGLY CONFIRM TH E ORDER OF THE CIT(A). 6. IN THE RESULT APPEAL FILED BY THE REVENUE STAND S DISMISSED. (ORDER PRONOUNCED IN THE OPEN COURT ON 21.04.2010) . SD/- SD/- (R.K. GUPTA) (P.K. BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: AGRA DATE: 21 ST APRIL 2010. PBN/* COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT BY ORDER 3. CIT CONCERNED 4. CIT (APPEALS) CONCERNED 5. DR ITAT AGRA BENCH AGRA 6. GUARD FILE ASSIST ANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL AGRA TRUE COPY