SMT. REKHA SINGH,BHILWARA vs. ITO, WARD-4, BHILWARA

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ITA 194/JODH/2018Status: DisposedITAT Jodhpur20 July 2018AY 2014-157 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal deleted the trading addition, finding no justification as the Net Profit rate had increased and the AO had not pointed out defects in the books. The Tribunal also deleted the disallowance of foreign travel expenses, finding them to be for business purposes. The issue of deemed rental income was remanded to the AO to determine the municipal ratable value.

What were the facts?

The assessee's appeal concerns additions made by the Assessing Officer (AO) and confirmed by the CIT(A) regarding trading additions, foreign travel expenses, and deemed rental income. The AO had rejected the assessee's books of accounts and made a total trading addition.

What were the issues?

Whether the trading addition was justified, whether foreign travel expenses were for business purposes, and how to determine deemed rental income for a self-occupied property.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 22

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH (SMC

Before: SHRI R.C. SHARMA

For Appellant: Shri Hemant Chhajed (CA)
For Respondent: Shri Shri A. K. Das (JCIT)
Hearing: 17/07/2018

per the municipal ratable value. Accordingly, the matter is

restored to file of the Assessing Officer to find out the municipal

ratable value of the house for computing income u/s 22 of the

I.T. Act. We direct accordingly.

7 ITA 194/Jodh/2018 Smt. Rekha Singh, Bhilwara Vs. ITO

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

Order pronounced in the open court on 20/07/2018.

Sd/- [R.C. SHARMA] Accountant Member Dated : 20/07/2018 *Ganesh Kr. Copy to : 1. The Appellant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR 6. Guard File (ITA No. 194/Jodh/2018)

Assistant Registrar Jodhpur Bench

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