ACIT CIR-1, JAMSHEDPUR vs. M/S AUTOPROFILE LTD, JAMSHEDPUR

ITA 174/RAN/2016Status: DisposedITAT Ranchi15 February 2019AY 2010-1113 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal affirmed the CIT(A)'s decision, finding that the assessee successfully proved the scrap pertained to multiple entities, not just Tata Motors. The Tribunal found no merit in the AO's estimation of suppressed scrap and under-billing.

What were the facts?

The Assessing Officer (AO) added Rs. 2,58,86,538/- as estimated income on scrap, alleging under-billing and concealed generation of scrap. The assessee had disclosed gross receipts from scrap sales of Rs. 8,82,27,394/-. The Commissioner of Income Tax (Appeals) deleted this addition.

What were the issues?

Whether the Assessing Officer was justified in estimating income from scrap sales based on alleged under-billing and concealed generation, and whether the assessee's book results could be rejected.

Which sections of the Income-tax Act were involved?

Section 145

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(8)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, RANCHI BENCH, RANCHI

Before: Shri S.S.Godara & Dr. A.L. Saini

PER BENCH:- This Revenue’s appeal for assessment year 2010-11 arises against the Commissioner of Income Tax (Appeals)-Jamshedpur’s order dated 28.03.2016 passed in case No.516/JSR/2012-13 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 Revenue’s sole substantive grievance canvass in the instant appeal challenges correctness of CIT(A)’s action reversing Assessing

ITA No.174/Ran/2016 A.Y. 2010-11 ACIT, Cir-1 JSR Vs. M/s Auto Profile Ltd. Page 2 Officer’s deleting the addition amount of Rs.2,5,86,538/- as est

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 145

All 1,584 judgments and leading authorities on Section 145 →

Recent GST High Court judgments

Search GST case law →