CIT v. Hazaribagh Coal Syndicate Pr. Ltd.

Shri Farooq Ahmad Ahangar, Srinagar vs. Income Tax Oficer, Ward-3(1, Srinagar

In the result, both the appeals are allowed

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

…ituation and decide the matter in such a manner that neither the Revenue is put to unreasonable loss nor is the assessee subjected to unreasonable hardship as held by the Hon’ble Calcutta High Court in the case of CIT Vs Hazaribagh Coal Syndicate Pr. Ltd. 177 ITR 135 (Cal.). 10. In this background of the matter and in the light of precedents we bring ourselves to the assessment order passed by the AO who has chosen to apply N.P rate of 10% ignoring past history of the assessee without bringing on record any comparable case where such an exorbitant rate of N.P was either shown by the assessee or assessed b…

Shri Farooq Ahmad Ahangar, Srinagar vs. Income Tax Officer, Ward-3(1), Srinagar

In the result, both the appeals are allowed

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

…ituation and decide the matter in such a manner that neither the Revenue is put to unreasonable loss nor is the assessee subjected to unreasonable hardship as held by the Hon’ble Calcutta High Court in the case of CIT Vs Hazaribagh Coal Syndicate Pr. Ltd. 177 ITR 135 (Cal.). 10. In this background of the matter and in the light of precedents we bring ourselves to the assessment order passed by the AO who has chosen to apply N.P rate of 10% ignoring past history of the assessee without bringing on record any comparable case where such an exorbitant rate of N.P was either shown by the assessee or assessed b…

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

…he situation and decide the matter in such a manner that neither the Revenue is put to unreasonable loss nor is the assessee subjected to unreasonable hardship as held by the Hon’ble Calcutta High Court in the case of CIT Vs Hazaribagh Coal Syndicate Pr. Ltd. 177 ITR 135 (Cal.) 9. In this background of the matter and in the light of precedents we bring ourselves to the order passed by the learned Assessing officer who has chosen to apply N.P rate of 12% without bringing on record any comparable case where such an exorbitant rate of N.P was either shown by the assessee or assessed by the AO which has become final…

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

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

…he situation and decide the matter in such a manner that neither the Revenue is put to unreasonable loss nor is the assessee subjected to unreasonable hardship as held by the Hon’ble Calcutta High Court in the case of CIT Vs Hazaribagh Coal Syndicate Pr. Ltd. 177 ITR 135 (Cal.) 9. In this background of the matter and in the light of precedents we bring ourselves to the order passed by the learned Assessing officer who has chosen to apply N.P rate of 12% without bringing on record any comparable case where such an exorbitant rate of N.P was either shown by the assessee or assessed by the AO which has become final…