Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Per CHANDRA POOJARI, AM:
This appeal of the assessee is directed against the order of the CIT(A) dated
13/09/2017 and pertains to assessment year 2008-09 .
The only issue in this appeal is with regard to direction of the CIT(A) to the
Assessing Officer to add Rs.11,25,452/- towards unaccounted purchases instead
of Rs.67,699/- added by the Assessing Officer.
Against this, the assessee is in appeal before us.
I.T.A. No.599/Coch/2017
We have heard the rival submissions and perused the record. The main
contention of the assessee is that the assessee accounted in its P&L account
total purchases of Rs.21,72,77,297/- which is tallied with the order passed by the
Commercial Tax Officer (Audit Assessment). He drew our attention to the profit
and loss account for the year ended 31/03/2008 and submitted that total
purchases are as follows:
Taxable Rs.21,61,57,845/-
Non Taxable Rs. 10,76,173/-
Total Rs.21,72,34,018/-
Thus, he submitted that the total purchases considered by the CIT(A) at
Rs.21,61,57,845/- in the profit and loss account is not correct. According to him,
the figures in the profit and loss account for the year ended 31/03/2008 and the
figures taken in the order passed by the Commercial Tax Officer (Audit
Assessment) was tallied and there cannot be any addition. In our opinion, this
issue needs to be remitted to the file of the Assessing Officer to reconcile both
the figures and decide thereupon and if there is any difference, that only is to
be added . With this observation, we remit this issue to the file of the Assessing
Officer for fresh consideration. It is needless to say that the assessee is to be
given reasonable opportunity of hearing before deciding the issue. Hence, this
ground of appeal of the assessee is allowed for statistical purposes.
I.T.A. No.599/Coch/2017
In the result, the appeal of the assessee is partly allowed for statistical
purposes. Order pronounced in the open Court on this 5th February, 2019
sd/- sd/- (GEORGE GEORGE K.) (CHANDRA POOJARI) JUDICIAL MEMBER ACCOUNTANT MEMBER
Place: Kochi Dated: 5th February, 2019 GJ
Copy to: 1. Shri P. Abdul Salam, Malikaveettil Agencies, Main Road, Punalur, Kollam. 2. The Addl. Commissioner of Income-tax, Kollam Range, Kollam 3. The Commissioner of Income-tax(Appeals), Trivandrum.. 4. The Pr. Commissioner of Income-tax, Trivandrum. 5. D.R., I.T.A.T., Cochin Bench, Cochin. 6. Guard File. By Order
(ASSISTANT REGISTRAR) I.T.A.T., Cochin