SK. ASRAF ALI ,PASCHIM MEDINIPUR vs. JCIT, RANGE - 1, MIDNAPORE , PASCHIM MEDINIPUR

Appearances by: Shri P. K. Sanghi, CA, appeared on behalf of the Appellant. Shri Robin Choudhury, Addl. CIT, appeared on behalf of the Respondent. Date of concluding the hearing : January 9, 2019 Date of pronouncing the order : January 16 , 2019

ORDER Per J. Sudhakar Reddy :-

This appeal by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals)-11, (hereinafter the ‘ld. CIT(A)’), dated 27.04.2018 passed u/s 143(3) of the Income Tax Act, 1961 (the ‘Act’) for the assessment year 2011-12.

2 SK ASRAF ALI Assessment Year: 2011-12 3. On appeal, the First Appellate Authority upheld the order of the Assessing Officer. 4. Aggrieved the assessee is before us. The first ground raised by the ld. Counsel for the assessee is that the Assessing Officer has not signed the assessment order and hence it is not valid. Secondly, he submitted that estimation of income @8% of the gross receipts from business of poultry feeds is excessive. The ld. DR submitted that the signed assessment order is in the records and the same can be produced before the Bench. The ld. Counsel for the assessee at this stage submitted that he does not press both these grounds.

5. The second ground of appeal reads as follows: After hearing rival contentions, we delete the addition by holding that telescoping benefit has to be given to the assessee. The income from business of poultry feeds has been computed at Rs.4,19,201/- as against Rs.1,78,950/- declared by the assessee. The excess cash flow is to be telescoped and the investment in question is to be held as unexplained. Hence, we delete the addition of Rs.1,65,000/-.

6. In the result, the Ground No.2 of the assessee is allowed.

7. In the result, the appeal of the assessee is allowed in part.