MAHENDER SHARMA,DURGAPUR vs. I.T.O.,WARD-2(2), DURGAPUR

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ITA 51/KOL/2020Status: DisposedITAT Kolkata26 April 2022AY 2013-142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal set aside the CIT(A)'s order and restored the matter to the Assessing Officer. The Assessing Officer is directed to reconsider the assessment after taking into account the assessee's audited accounts and providing a reasonable opportunity of hearing.

What were the facts?

The assessee's appeal challenges the CIT(A)'s order where profits were estimated on an ad hoc basis despite the assessee having fully audited accounts. The assessee argued that the Assessing Officer should have considered these audited accounts.

What were the issues?

Whether the profits can be estimated on an ad hoc basis when audited accounts are available. Whether the Assessing Officer properly considered the audited accounts of the assessee.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH KOLKATA

Before: Shri Sanjay Garg & Shri Girish Agrawal

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member Assessment Year: 2013-14 Mahender Sharma......................................…...........................……….……Appellant Shama Mansion, 2nd Floor, G.T. Road, Bhiringi, Durgapur-713213. [PAN: AYAPS0102K] vs. ITO, Ward-2(2), Durgapur......…..….…..….........……........……...…..…..Respondent Appearances by: Shri Dilip Kumar Shaw, CA, appeared on behalf of the appellant. Smt. Ranu Biswas, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : April 26, 2022 Date of pronouncing the order : April 26, 2022

ORDER

Per Sanjay Garg, Judicial Member:

1.

The present appeal has been preferred by the assessee against the order dated 23.10.2019 of the Commissioner of Income Tax, Durgapur [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act(hereinafter referred to as the ‘Act’).

2.

The sole grievance put in by the assessee is that the profits have been estimated on ad hoc basis whereas the accounts of the assessee have been fully audited. 3. It has been pleaded that audited books of accounts were part of the return which the Assessing Officer was supposed to consider. Even the ld. CIT(A) has failed to appreciate the above contentions of the assessee. The ld. AR, therefore, has prayed that the matter be restored to the file of the Assessing Officer for assessment afresh after considering the duly audited accounts of the assessee. The ld. DR could not controvert the above submissions of the ld. AR of the assessee. In view of this, the impugned order of the CIT(A) is hereby set aside and the matter is restored to the file of the Assessing Officer for assessment afresh with a direction to consider the duly audited accounts of the assessee and to give a reasonable opportunity of hearing to the assessee and thereafter to pass assessment order in accordance with law.

Assessment Year: 2013-14 Mahender Sharma 4. In the result, the appeal of the assessee is treated as allowed for statistical purposes. Kolkata, the 26th April, 2022.

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