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Deputy Commissioner of Income Tax Versus Asha Mandowara

2016 (7) TMI 667 - ITAT JAIPUR

Trading addition - G.P. rate application - Held that:- Whatever defects pointed out by the AO are sufficient to reject the book results as purchases as well as payments of expenses were made in cash which has not been controverted by the AR. Therefore, we upheld the rejection of books of account u/s 145(3) of the IT Act. The Co-ordinate Bench has considered the assessee’s cases from A.Y.2006-07 to 2008-09 for identical additions made by the AO by rejecting the books of accounts. It is general th .....

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evident by the AR of the assessee which has not been controverted by the ld. AR. - Decided against revenue - ITA No. 765/JP/14, C.O. No. 02/JP/2016 - Dated:- 31-5-2016 - Shri Shri T. R. Meena, AM And Shri Laliet Kumar, JM For the Revenue : Shri Purushottam Kashyap ( Addl. CIT ) For the Assessee : Shri P.C. Parwal ( C.A. ) ORDER Per T. R. Meena, A. M. The appeal filed by the revenue and C.O. by the assessee arise against the order of Ld. CIT(A)-II, Jaipur dated 09.09.2014. Effective grounds of re .....

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of 19.20% as against the GP rate of 18.31% declared by the assessee. 2. The assessee is engaged in the business of trading and export of sand stone and slate stone. The assessee filed return of income declaring total income of ₹ 1,73,13,520/- on 25.09.2008. The case was scrutinised u/s 143(3) of I.T. Act. During the year the assessee declared total turnover of ₹ 10,66,63,644/- on which the assessee earned gross profit of ₹ 1,95,35,216/- and net profit of ₹ 1,57,76,409/- .....

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y the assessee is not correct. Call details register and log book were not maintained for vehicle running expenses respectively. Therefore, he proposed to apply provisions of section 145(3) of the IT Act. After considering the assessee s reply the AO held that various discrepancies has been noticed in the books of account as the assessee did not maintain proper record as required. Therefore, he applied section 145(3) of the IT Act and accordingly he rejected the books results by relying various .....

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g aggrieved by the order of the AO, the assessee carried the matter before the ld. CIT(A), who had allowed the appeal partly, which is given as under: 3.2.1 I have perused the facts of the case and the submissions of the appellant. The Hon ble Third Member has upheld the rejection of books of accounts made by the Assessing Officer on the basis of the defects pointed out, in the assessment order. It is the appellant s contention that mere rejection of books of accounts should not necessarily resu .....

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only from 4.43% to 10.44%. Therefore it is the contention of the appellant that or around half of the turnover, the purchase price has increased more than the sale price. It is to be mentioned that the appellant has not given the quantum of turnover of either grey stone or brown stone where there is appreciable difference between the increase in purchase price and increase in sale price. In the absence of such turnover, it is difficult to ascertain the degrees in GP rate on account of differenc .....

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more than the sale price for certain qualities of brown stone and grey stone, but the turnover of each individual quality cannot be ascertained due to non maintenance of stock book and (c) no reasons have been given for decrease in GP rate with respect to 46.73% of total turnover. I am of the considered view that while there are justifiable reasons for a minor fall in GP rate, as compared to last year. The submission of the appellant does not give any reason for decrease in Gross Profit rate of .....

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,679/- is restricted to ₹ 9,44,204/-. 4. Now the revenue is in appeal and the assessee is in C.O. before us. The Ld. DR has vehemently supported the order of the AO. At the outset the ld. AR for the assessee reiterated the arguments before the CIT(A). He has drawn our attention on a comparative chart of GP and admitted during the year the GP was slightly down by 1%, for the reason that average purchase price of grey and brown sand stone/slate stone had increase more than the increase in th .....

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& 2008-09 which were challenged by the Hon ble ITAT and all the additions have been deleted by the Hon ble ITAT. He further relied upon in cases of: 1. CIT vs. Jas Jack Elegance 324 ITR 95.233 CTR 398 (Del.- 2. DCIT vs. Paras Dyeing and Printing Mills P. Ltd. 4 ITR 29 (Trib.) 3. CIT vs. Gotan Lime Khaniz Udhyog 256 ITR243 (Raj.) 4. Malani Ramjivan Jagannath vs. ACIT 207 CTR (Raj.) 19 He argued that addition confirmed by Ld. CIT(A) are not justified and also requested to confirm the order of .....

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