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Income Tax Appellate Tribunal, DELHI BENCH: ‘SMC’ NEW DELHI
Before: SHRI SATBEER SINGH GODARA
ORDER This assessee’s appeal for assessment year 2018-19, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre [in short, the “CIT(A)/NFAC”], Delhi’s DIN and order no. ITBA/NFAC/S/250/2024-25/1066023644(1) dated 25.06.2024 involving proceedings under section 147 r.w.s. 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties at length. Case file perused.
Leaned counsel representing assessee does not press for its ground challenging validity of the reopening of assessment.
Next comes the sole substantive issue on merits between the parties wherein the learned lower authorities have assessed the assessee at the rate of 20% on sales turnover of Rs.1,01,15,230/-, in waste paper recycle business. Learned departmental representative could hardly rebut the clinching facts, inter alia, emerging from the case file that neither the purchases made by the assessee remained unexplained, nor the nature of the primary business activity which has been carried on in unorganized sector involving most of the small-time traders insisting for cash payment only. There are also no concrete comparable instances discussed in the lower orders.