A Krushna Chandra Sarab, Koraput v. ITO, Jeypore

ITA 435/CTK/2013 | 2009-2010
Pronouncement Date: 24-04-2014 | Result: Allowed

Appeal Details

RSA Number 43522114 RSA 2013
Assessee PAN AFOPA0008H
Bench Cuttack
Appeal Number ITA 435/CTK/2013
Duration Of Justice 7 month(s) 7 day(s)
Appellant A Krushna Chandra Sarab, Koraput
Respondent ITO, Jeypore
Appeal Type Income Tax Appeal
Pronouncement Date 24-04-2014
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 24-04-2014
Assessment Year 2009-2010
Appeal Filed On 16-09-2013
Judgment Text
1 CUTTACK IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK ( ) BEFORE . . HONBLE SHRI P.K.BANSAL ACCOUNTANT MEMBER. /AND . . HONBLE SHRI D.T.GARASIA JUDICIAL MEMBER ! ! ! ! / I.T.A.NO.435 /CTC/ /2013 ' # / ASSESSMENT YEAR: 2009-2010 SHRI A. KRUSHNA CHANDRA SARAB KORAPUT. PA NO.AFOPA 0008H - - - VERSUS- ITO WARD -2 JEYPORE ( %& /APPELLANT ) ( '(%& / RESPONDENT ) %& * / FOR THE APPELLANT: / SHRI P.K.MISHRA '(%& * / FOR THE RESPONDENT: / SHRI S.C.MOHANTY + - / DATE OF HEARING: 24.4.2014 ./# - / DATE OF PRONOUNCEMENT: 24.4.2014 0 / ORDER PER BENCH THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE O RDER DATED 16.7.2013 OF LD CIT(A) BERHAMPUR FOR THE ASSESSMENT YEAR 2009-2010 IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) OF THE INCOME TAX ACT 1961. 2 2. THE SHORT FACTS OF THE CASE ARE THAT THE ASSESSE E IS AN INDIVIDUAL. HE DERIVES INCOME FROM WHOLESALE TRADING BUSINESS IN DISTRIBUT ION OF AGENCIES GOODS. THE ASSESSEE HAS FILED THE RETURN OF INCOME ON 30.9.200 9 DECLARING TOTAL INCOME OF RS.3 34 300/-. DURING THE COURSE OF ASSESSMENT PRO CEEDINGS THE ASSESSING OFFICER NOTICED THAT ON A TOTAL TURNOVER OF RS.4 43 11 158/ - THE ASSESSEE DISCLOSED GROSS PROFIT AT RS.11 79 775/- NET PROFIT TO THE TUNE OF RS.2 72 022/- WHICH WORKS OUT @ 2.66% AND 0.61% RESPECTIVELY BY CLAIMING HUGE EXPENSES UNDER THE DIFFERENT HEADS. IN THE COURSE OF ASSESSMENT PROCEEDINGS THE ASSESSEE WAS ASKED T O PRODUCE BOOKS OF ACCOUNTS AND DOCUMENTS ALONGWITH BILLS AND VOUCHERS IN RESPECT OF EXPENSES DEBITED TO THE PROFIT AND LOSS ACCOUNT. ON PERUSAL OF BALANCE SHEET IT IS NOTICED THAT IN THE LIABILITIES SIDE OF BALANCE SHEET AS ON 341.3.2009 ASSESSEE HAS SHOWN SUNDRY CREDITOR AT RS.55 11 885/- AND SECURED LOAN TO THE TUNE OF RS.14 37 883/-.. S INCE ASSESSEE COULD NOT PRODUCT THE DOCUMENTS REQUIRED FOR MAKING THE ASSESSMENT THE A O INVOKED THE PROVISIONS OF SECTION 145 OF THE ACT AND REJECT THE BOOK RESULTS AND ESTIMATED THE PROFIT @ 3% ON THE GROSS RECEIPT OF RS.4 43 11 158/- WHICH WORKS OUT TO RS.13 29 335/-. BEING AGGRIEVED THE ASSESSEE CARRIED THE MATTER IN APPEAL BEFORE TH E CIT(A). 3. THE CIT(A) UPHELD THE ACTION OF THE ASSESSING OF FICER IN REJECTING THE BOOKS OF ACCOUNT AND ALSO THE ESTIMATION OF PROFIT @ 3% ON A CCOUNT OF NON-SUBMISSION OF BOOKS OF ACCOUNT OF THE ASSESSEE. HENCE ASSESSEE IS IN APPEAL BEFORE US. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORD OF THE CASE. WE OBSERVE THAT AT THE TIME OF ASSESSMENT PROCEEDINGS ASSESSEE DID NOT PRODUCE BOOKS OF 3 ACCOUNT AND OTHER DETAILS AS REQUIRED BY THE AO. IT WAS IN THIS BACKGROUND THAT THE ASSESSING OFFICER REJECTED THE BOOK RESULTS AND EST IMATED THE NET @ 3%. BEFORE US LD A.R. HAS CONTENDED THAT IF THE MATTER IS RESTORED B ACK TO THE FILE OF THE AO THE ASSESSEE WILL PRODUCE BOOKS OF ACCOUNT AND OTHER DETAILS. L D D.R. AGREED TO THE PROPOSITION OF LD A.R. IN VIEW OF THIS WE SET ASIDE THE ORDER OF LD CIT(A) AND RESTORE THE MATTER BACK TO THE FILE OF THE AO TO REDECIDE THE ISSUE AFRESH. T HE ASSESSEE IS DIRECTED TO PRODUCE THE BOOKS OF ACCOUNT BEFORE THE AO. IF THE ASSESSEE FA ILS TO PRODUCE THE BOOKS OF ACCOUNT THE AO IS AT LIBERTY TO PASS THE FRESH ASSESSMENT O RDER AS PER LAW. 5. IN THE RESULT APPEAL FILED BY ASSESSEE IS ALLOW ED FOR STATISTICAL PURPOSES. (ORDER PRONOUNCED IN THE OPEN COURT ON 24.4.201 4 ) SD/- SD/- ( . . 1 (P.K.BANSAL) ACCOUNTANT MEMBER ( . . ) (D.T.GARASIA(JUDICIAL MEMBER ( - ) DATE. 24 .4 .2014 (B.K.PARIDA) SENIOR.PRIVATE SECRETARY. 4 0 '- 3#-4 - COPY OF THE ORDER FORWARDED TO: 1. %& / THE APPELLANT : SHRI A. KRUSHNA CHANDRA SARAB PROP. SABITRI ENTERPRISES AT-SATYA NAGAR SEMILIGUDA DIST: KORAPUT. 2 '(%& / THE RESPONDENT: ITO WARD -2 JEYPORE 3. 0 / THE CIT BHUBANESWAR 4. 0 ( )/ THE CIT(A) BERHAMPUR. 5. 5 '- / DR CUTTACK BENCH 6. GUARD FILE . ( - '- / TRUE COPY 0 + / BY ORDER ASST.REGISTRAR ITAT CUTTA CK 5 1. DATE OF DICTATION 24.4.14. 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE T HE DICTATING MEMBER 24.4.14OTHER MEMBER . 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR . P.S./P.S. 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE TH E DICTATING MEMBER FOR PRONOUNCEMENT.... 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE S R. P.S./P.S . 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK .. 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER .............. .. 9. DATE OF DISPATCH OF THE ORDER ..