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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)-Dhanbad’s order dated 19.09.2018 passed in case No.CIT(A), Dhanbad/10110/2017-18, involving proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.
The assessee’s solitary grievance raised in the instant lis challenges both the lower authorities’ action enhancing his net profit ratio from 0.98% to 2.75% culminating in addition of Rs.9,01,180/-. They have also adopted same comparable case(s) as well for making the impugned addition. I notice in this backdrop of facts that neither the assessee has been able to prove its impugned so-called lower profit Sh. Sunil Kr.Singh Vs. ITO Wd-1(2) DHN Page 2 rate of 0.98% by incurring the corresponding expenses and proved by the relevant cogent evidences nor there is any indication that the lower authorities have noticed any specific irregularity in the books of account forming part of records. I therefore deem it appropriate that neither party’s stand deserves to be upheld in entirety. I accordingly restrict the impugned addition of Rs.9,01,180/- to a lump sum figure of Rs.3,00,000/- only with a rider that the same shall not be treated as a precedent in any other case. Necessary computation including that of interest shall follow as per law.