CIT v. Electra Jaipur (P) Ltd.

M/S Goodwil Traders, Srinagar vs. Income Tax Officer, Srinagar

In the result, these three appeals filed by the assessee are allowed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. Nos. 30, 326 & 327/Asr/2017 & 2019 Assessment Years: 2013-14 to 2015-16 Goodwill Traders, Vs. I.T.O., Ward-(3) 1 Court Road, Srinagar Near Gurudwara Lal Chowk Srinagar [PAN: AAGFG 1104K] (Appellant) (Respondent) Appellant by : Sh. P. N. Arora, Adv. Respondent by: Sh. S. M. Surendranath, Sr. DR & Sh. Satbir Singh, Sr. DR Date of Hearing: 20.04.2022 & 12.05.2022 Date of Pronouncement: 13.06.2022 ORDER Per Dr. M. L. Meena, AM: These appeals have been…

Goodwill Traders, Srinagar vs. Income Tax Officer Ward-3(1), Srinagar

In the result, these three appeals filed by the assessee are allowed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. Nos. 30, 326 & 327/Asr/2017 & 2019 Assessment Years: 2013-14 to 2015-16 Goodwill Traders, Vs. I.T.O., Ward-(3) 1 Court Road, Srinagar Near Gurudwara Lal Chowk Srinagar [PAN: AAGFG 1104K] (Appellant) (Respondent) Appellant by : Sh. P. N. Arora, Adv. Respondent by: Sh. S. M. Surendranath, Sr. DR & Sh. Satbir Singh, Sr. DR Date of Hearing: 20.04.2022 & 12.05.2022 Date of Pronouncement: 13.06.2022 ORDER Per Dr. M. L. Meena, AM: These appeals have been…

Goodwill Traders., Srinagar vs. Income Tax Officer Ward-3(1), Srinagar

In the result, these three appeals filed by the assessee are allowed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. Nos. 30, 326 & 327/Asr/2017 & 2019 Assessment Years: 2013-14 to 2015-16 Goodwill Traders, Vs. I.T.O., Ward-(3) 1 Court Road, Srinagar Near Gurudwara Lal Chowk Srinagar [PAN: AAGFG 1104K] (Appellant) (Respondent) Appellant by : Sh. P. N. Arora, Adv. Respondent by: Sh. S. M. Surendranath, Sr. DR & Sh. Satbir Singh, Sr. DR Date of Hearing: 20.04.2022 & 12.05.2022 Date of Pronouncement: 13.06.2022 ORDER Per Dr. M. L. Meena, AM: These appeals have been…

ACIT Circle-3, Mathura vs. Shobha Ram Sharma Contractor, Mathura

In the result, the appeal of the assessee is partly allowed and that

…ar Talwar v. CIT, 1 SCC 673; New Plaza Restaurant v. ITO 309 ITR 259 (HP); and Sanjay Oilcake Industries v. CIT 316 ITR 274 (Guj.).” Similar view was reiterated by the Jurisdictional High Court in plethora of cases to name a few CIT Vs Electra Jaipur (P) Ltd. 177 ITR 86 (All.) ; CIT Vs Surjit Singh 210 ITR 83 (All.) in which case the order of the Tribunal was upheld where it has applied flat rate of N.P based on past history and profit disclosed in comparable case operating in similar area. We are reminded here thatthe Hon’ble Supreme Court in the case 8. of CIT vs. Siamon Carves Ltd. 105 ITR 212 (S.C.) guiding…

ACIT Circle-3, Mathura vs. Shobha Ram Sharma Contractor, Mathura

In the result, the appeal of the assessee is partly allowed and that

…ar Talwar v. CIT, 1 SCC 673; New Plaza Restaurant v. ITO 309 ITR 259 (HP); and Sanjay Oilcake Industries v. CIT 316 ITR 274 (Guj.).” Similar view was reiterated by the Jurisdictional High Court in plethora of cases to name a few CIT Vs Electra Jaipur (P) Ltd. 177 ITR 86 (All.) ; CIT Vs Surjit Singh 210 ITR 83 (All.) in which case the order of the Tribunal was upheld where it has applied flat rate of N.P based on past history and profit disclosed in comparable case operating in similar area. We are reminded here thatthe Hon’ble Supreme Court in the case 8. of CIT vs. Siamon Carves Ltd. 105 ITR 212 (S.C.) guiding…