SILBURN PAPERS PVT. LTD.,DELHI vs. ITO, WARD- 23(4), NEW DELHI
In the result, the appeal filed by the assessees is partly allowed
ITA 3552/DEL/2018[2013-14]Status: DisposedITAT Delhi07 Aug 2020AY 2013-14
Bench: Shri R.K. Panda & Shri Sudhanshu Srivastavaassessment Year: 2013-14 Silburn Papers Pvt. Ltd., Vs Ito, Bm-125, West Shalimar Bagh, Ward-23(4), New Delhi. New Delhi. Pan: Aapcs5300R (Appellant) (Respondent) Assessee By : Shri P.C. Yadav, Advocate Revenue By : Shri Saras Kumar, Sr. Dr Date Of Hearing : 28.07.2020 Date Of Pronouncement : 07.08.2020 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 16Th March, 2018 Of The Cit(A)-28, New Delhi Relating To Assessment Year 2013-14. 2. Although A Number Of Grounds Have Been Raised By The Assessee, These All Relate To The Order Of The Cit(A) In Sustaining The Addition Of Rs.1,43,88,769/- As Against Addition Of Rs.1,55,39,870/- Made By The Ao By Directing The Ao To Adopt The Gp Rate Of 25% As Against 30% Taken By Him. 3. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Wholesale Trading In Paper, Paper Board, Corrugated Board, Binding Material & Packing Material, Etc. It Filed Its Return Of Income On 4Th September
For Appellant: Shri P.C. Yadav, AdvocateFor Respondent: Shri Saras Kumar, Sr. DR
Section 131Section 133(6)Section 145(3)
…assessee or history of the similarly situated other businessmen has to be considered as a proper and reasonable basis for estimation of income. Referring to the decision of the Hon’ble Punjab & Haryana High Court in the case of CIT vs. Rajinder Prashad Jain, 374 ITR 545, he submitted that the Hon’ble High Court held that once the books are rejected previous year result has to be considered. 13. Referring to the decision of the Hon’ble Rajasthan High Court in the case of CIT vs. Gupta K.N. Construction Co., 371 ITR 325, he submitted that the Hon’ble High Court in the said decision has held that when the AO faile…
