M/S BLOOMS,JAMSHEDPUR vs. ITO, WARD-1(1), JAMSHEDPUR

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ITA 368/RAN/2018Status: DisposedITAT Ranchi04 March 20202 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the issue required a fresh reconciliation. Therefore, the matter was restored to the Assessing Officer for fresh adjudication.

What were the facts?

The assessee's appeal concerns the assessment year 2015-16. The lower authorities added a gross profit of Rs. 7,19,384/- due to an unreconciled difference between service tax turnover and income tax return disclosures.

What were the issues?

The primary issue was the validity of the addition made by the revenue authorities on account of a discrepancy in turnover disclosure between service tax and income tax returns.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH “SMC” RANCHI

Before: Shri S.S, Godara

आदेश /O R D E R (Oral) This assessee’s appeal for assessment year 2015-16, arises against the Commissioner of Income-tax (Appeals)-Jamshedpur’s order dated 28.08.2018 passed in case No.280/JSR/2017-18, involving proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

2.

The assessee’s sole substantive grievance raises in the instant lis seeks to reverse both the lower authorities action adding gross profit element amounting to Rs.7,19,384/- on the alleged un-reconciled difference between the turnover disclosed in service tax vis-à-vis income tax return(s). Both the learned representatives are fair enough in agreeing to the clinching fact that this issue essentially requires afresh Assessment Year:2015-16 M/s Bloomst Vs. ITO Wd-1(1), JSR Page 2 reconciliation only. I therefore deem it appropriate to restore the same back to the Assessing Officer for afresh adjudication within three effective opportunities of hearing. Learned counsel undertakes to appear before the Assessing Officer on or before 15.04.2020 along with a copy of this order.

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