Pneumatic Tools Enterprise, Kolkata v. I.T.O.,Ward-44(4), Kolkata

ITA 93/KOL/2020 | 2010-2011
Pronouncement Date: 17-03-2021 | Result: Partly Allowed

Appeal Details

RSA Number 9323514 RSA 2020
Assessee PAN AADFP9608C
Bench Kolkata
Appeal Number ITA 93/KOL/2020
Duration Of Justice 1 year(s) 1 month(s) 25 day(s)
Appellant Pneumatic Tools Enterprise, Kolkata
Respondent I.T.O.,Ward-44(4), Kolkata
Appeal Type Income Tax Appeal
Pronouncement Date 17-03-2021
Appeal Filed By Assessee
Order Result Partly Allowed
Bench Allotted SMC
Tribunal Order Date 17-03-2021
Date Of Final Hearing 28-01-2021
Next Hearing Date 28-01-2021
Last Hearing Date 04-01-2021
First Hearing Date 14-12-2020
Assessment Year 2010-2011
Appeal Filed On 22-01-2020
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA SHRI SANJAY GARG JUDICIAL MEMBER . /ITA NO.93/KOL/2020 ASSESSMENT YEAR:2010-11 PNEUMATIC TOOLS ENTERPRISE 83/1 MADANMOHAN BURMAN STREET KOLKATA-700007 [ PAN NO.AADFP 9608 C ] / V/S . INCOME TAX OFFICER WARD-44(4) 3 GOVT. PLACE (WEST) KOLKATA- 001 /APPELLANT .. /RESPONDENT HEARING THROUGH VIDEO CONFERENCING /BY APPELLANT SHRI MANISHA PATWARI ACA /BY RESPONDENT SHRI JAYANTA KHANRA JCIT SR-DR /DATE OF HEARING 28-01-2021 /DATE OF PRONOUNCEMENT 17-03-2021 /O R D E R THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSES SEE AGAINST THE ORDER DATED 28.08.2019 OF THE COMMISSIONER OF INCOME-TAX (APPEA LS)-13 KOLKATA [HEREINAFTER REFERRED TO AS CIT(A)]. 2. THE SOLE ISSUE INVOLVED IN THIS APPEAL IS REGARD ING THE DISALLOWANCE ON EXPENDITURE OF PURCHASE OF GOODS. THE SAME BEING TR EATED AS BOGUS TRANSACTIONS BY THE ASSESSING OFFICER. 3. AT THE OUTSET THE LD. AR OF THE ASSESSEE HAS SU BMITTED THAT SIMILAR DISALLOWANCE WAS MADE IN THE CASE OF THE ASSESSEE B Y THE ASSESSING OFFICER IN THE ASSESSMENT CARRIED OUT FOR THE ASSESSMENT YEAR 2011 -12. THE MATTER TRAVELLED TO THE TRIBUNAL AND THE TRIBUNAL IN THE IDENTICAL CIRCUMST ANCES VIDE ORDER DATED 13.07.20 PASSED IN ITA NO.2635/KOL/2019 HAS HELD THAT THE DI SALLOWANCE OF ENTIRE PURCHASES ITA NO.93/KOL/2020 ASSESSMENT YEAR: 20 10-11 PNEUMATIC TOOLS ENTERPRISE VS. ITO WD-4 4(4) KOL. PAGE 2 CANNOT BE MADE. THE TRIBUNAL HELD THAT 15% GROSS PR OFIT ON THE UNVERIFIABLE PURCHASES WOULD MEET THE ENDS OF JUSTICE. THE TRIBUNAL ACCOR DINGLY RESTRICTED THE ADDITION TO 15% OF THE GROSS PROFIT ON THE AFORESAID UNVERIFIAB LE PURCHASES. THE RELEVANT PART OF THE ORDER WHICH READS AS UNDER:- 4. THE SOLE ISSUE INVOLVED IN THIS APPEAL IS THE D ISALLOWANCE OF EXPENDITURE ON PURCHASE OF GOODS AS BOGUS ACCOMMODATION ENTRIES. A FTER HEARING THE LD. D/R I AM OF THE CONSIDERED OPINION THAT AS THE SALES AR E NOT DOUBTED AND AS THREE CAN BE NO SALES WITHOUT PURCHASES I AM OF THE VIEW THAT 15% GP ON THE UNVERIFIED PURCHASES WOULD MEET THE ENDS OF JUSTICE . THUS THE ADDITION IS RESTRICTED TO RS.72 345/-. THE ASSESSEE GETS RELIEF OF RS.4 09 955/-. THE LD. DR HAS FAIRLY AGREED THAT THE ISSUE IS COVE RED BY THE DECISION OF THE TRIBUNAL IN THE OWN CASE OF THE ASSESSEE IN EARLIER ASSESSME NT YEAR. RESPECTFULLY FOLLOWING THE SAID DECISION THE ADDITION IS RESTRICTED TO 15% OF THE GROSS PROFIT ON THE UNVERIFIABLE PURCHASES. THE APPEAL OF THE ASSESSEE STANDS PARTLY ALLOWED . ORDER PRONOUNCED IN OPEN COURT ON 17/03/2021 SD/- (SANJAY GARG) JU DICIAL MEM BER *DKP/SR.PS ' - 17/03/2021 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-PNEUMATIC TOOLS ENTERPRISE 83/1 MADAN MO HAN BURMAN STREET KOLKAT A-007 2. /RESPONDENT-ITO WARD-44(4) 3 GOVT. PLACE (WEST) K OLKATA-700 001 3. % ' / CONCERNED CIT 4. ' - / CIT (A) 5. ( ++% % / DR ITAT KOLKATA 6. - / GUARD FILE. BY ORDER/ %