NEW GANDERBAL FRUIT COMPANY,SRINAGAR vs. INCOME TAX OFFICER WARD-1, SRINAGAR

ITA 608/ASR/2024Status: DisposedITAT Amritsar29 May 2026AY 2017-186 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal. It directed the AO to estimate the commission income at 5% of the total turnover and deleted the addition made under Section 69A for demonetized notes, considering it part of the gross turnover.

What were the facts?

The assessee, a fruit commission agent, failed to maintain proper books of account and did not respond to notices. The AO completed the assessment ex parte, making additions for cash deposits and estimated profits. The CIT(A) dismissed the appeal due to non-compliance.

What were the issues?

Whether the addition for cash deposits during demonetization is justified, and whether the estimated profit rate applied by the AO is correct for a commission agent.

Which sections of the Income-tax Act were involved?

Section 144,Section 69A,Section 44AD

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.

Before: DR. DIPAK P. RIPOTE & SH. UDAYAN DAS GUPTA

For Appellant: CA (Virtual)
Hearing: 18.03.2026Pronounced: 29.05.2026

Per: Udayan Dasgupta, JM:

This appeal is filed by the assessee against the order of ld. CIT(A), NFAC, Delhi, passed u/s 250 of the IT Act, 1961, dated 12.04.2024, which has emanated from the order of the AO, Ward-2, Srinagar, passed u/s 144 of the Act, dated 11.12.2019. 2. Condonation of Delay: This appeal is belatedly filed by 153 (one hundred fifty-three days) and the assessee has filed an application for condonation of the delay on the ground that the appellant Mohd. Shafi Chotta is a partner of the firm who is illiterate person and is not able to operate the computer system and he was not aware Assessment Year: 2017-18 2

of the date of issue of notices by the ld.

The order continues below.

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