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Income Tax Appellate Tribunal, RANCHI ‘SMC’ BENCH, RANCHI
Before: Sri J. Sudhakar Reddy
IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI ‘SMC’ BENCH, RANCHI
(Before Sri J. Sudhakar Reddy, Accountant Member) I.T.A. No. 62/Ran/2016 Assessment Year: 2012-13 ITO, Ward 1(2)…………………..……………………………………………….……………………Appellant 47, C.H. Area, Jamshedpur. M/s. Orissa Bengal Transport Co..…………………………………………………………Respondent Kitadih (Near TISCO Community Centre) Jamshedpur. [PAN : AABFO 9781 F]
Appearances by: Shri P.K. Mondal, Jr. DR appearing on behalf of the Revenue. None appearing on behalf of the Assessee.
Date of concluding the hearing : February 27, 2018 Date of pronouncing the order : February 28, 2018
ORDER Per J. Sudhakar Reddy, AM :-
This is an appeal filed by the Revenue directed against the order of the Commissioner of Income Tax (Appeals) Jamshedpur dated 08.12.2015 for the assessment year 2012-13.
None appeared on behalf of the assessee. I dispose of the appeal ex-parte on merit qua the assessee. Heard the learned department representative, the revenue disputes the estimate of profit by the Ld. CIT(A) at 1.5% of the gross receipts as against 3% estimated by the A.O. The Ld. CIT(A) has based his estimation on the fact that the net profit of the assessee in the assessment year 2011-12 was 0.4% and for the assessment year 2012-13 was 0.34%. He also took note that in the year under consideration the assessee has declared profit of 1.47%. I find no infirmity in such estimation by the Ld. CIT(A), The A.O. has not based his estimation on any comparable. Thus this appeal of the revenue is dismissed.
In the result the appeal of the Revenue is dismissed.
Ranchi, the 28th day of February, 2018.
Sd/- [J. Sudhakar Reddy] Accountant Member
Dated :28 .02.2018 Biswajit, Sr. PS
2 I.T.A. No. 62/Ran/2016 Assessment Year: 2012-13 M/s. Orissa Bengal Transport Co.
Copy of the order forwarded to: 1. M/s. Orissa Bengal Transport Co. Kitadih (Near TISCO Community Centra), Jamshedpur.
ITO, Ward 1(2), 47, C.H. Area, Jamshedpur.
CIT(A)-
CIT- , 5. CIT(DR), Ranchi Benches, Ranchi.