SRI VISHNU KUMAR MURARKA,KOLKATA vs. I.T.O.,WARD-40(1), KOLKATA

ITA 2382/KOL/2019Status: DisposedITAT Kolkata14 February 2020AY 2015-162 pages

AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal directed the Assessing Officer to restrict the addition to a lump sum of ₹2,00,000/-, treating the entire sum as business income from transportation and assessing only the profit element. This was not to be treated as a precedent.

What were the facts?

The assessee claimed transportation receipts from M/s Century Plyboard Ltd. amounting to ₹30,00,777/-. Despite opportunities, the assessee could not reconcile these receipts during assessment and appeal proceedings. The assessee's sole business activity was transportation.

What were the issues?

The primary issue was the correctness of the lower authorities' action in adding the entire amount of transportation receipts as income. The tribunal considered the nature of the assessee's business and the unrebutted facts presented.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” KOLKATA

Before: Shri S.S, Godara

Shri Manish Tiwari, FCA अपीलाथ� क� ओर से/By Appellant Shri Jayanta Khanra, JCIT-SR-DR ��यथ� क� ओर से/By Respondent 05-02-2020 सुनवाई क� तार�ख/Date of Hearing 14-02-2020 घोषणा क� तार�ख/Date of Pronouncement आदेश /O R D E R This assessee’s appeal for assessment year 2015-16, arises against the Commissioner of Income-tax (Appeals)-12 Kolkata’s order dated 28.08.2019 passed in case No.10083/CIT(A)-12/Kol/2017-18, involving proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

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