Kansara Bearings Pvt. Ltd. v. ACIT

JEWELS EMPORIUM A LEGACY,JAIPUR vs. ACIT,CC-1, JAIPUR

In the result, the appeal of the assessee stands allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…made additions by relying on the same books of accounts. Instead, the Assessing officer ought to have made the best judgement assessment on the basis of the history and nature of business and the net profit rate as shown by the assessee in the previous year. 99 TTJ 164 Ajay Goyal Vs. ITO (Jd.) May 9, 2005 Accounts – Rejection – GP rate – Best guide for estimation of the trading results after rejecting the books is either the past history of the assessee or any other comparable case – The past history of the assessee takes preference over a comparable case – Assessee having declared higher GP rate than the preced…

KIRAN INFRA ENGINEERS LTD.,JAIPUR vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, JAIPUR

In the result, the ground is allowed for statistical purposes

Bench: or at the time of hearing of

…additions in question made by AO in exercise of its appellate discretionary powers, then it would not involve any substantial question of law. 316 ITR 125 Inani Marbles (Raj.) That in case of profit application past year history of the assessee is best guide. 99 TTJ 164 Ajay Goyal Vs. ITO (Jd.) Accounts – Rejection – GP rate – Best guide for estimation of the trading results after rejecting the books is either the past history of the assessee or any other comparable case – The past history of the assessee takes preference over a comparable case – Assessee having declared higher GP rate than the preceding year, it…

GIRDHARI LAL MEENA,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal of the assessee is allowed for statistical purpose

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…dited by Form 3CD, requisite details are before Ld. AO then there is no justification for rejecting the books of account and making estimated addition on gross profit:- (a) CIT vs. Gotan Lime Khanij Udyog, 256 ITR 243 (Raj. High Court) (b) Ajay Goyal vs. ITO, 99 TTJ 164 (copy of judgments are attached) Thus when there is no basis with both the lower authorities in doing GP addition and under these circumstances action of Ld AO and Ld CIT(A) may please be held erroneous and GP addition made may please be deleted. GROUND NO.3 : ERRONEOUSLY APPLYING PROVISION OF SECTION 115BBE LEVYING TAX @60% That Ld AO has erred i…

M/S RAJ AUTO WHEELS P .LTD.,AJMER vs. JCIT, RANGE-1, AJMER

In the result, the appeal of the assessee is party allowed

…4 ITR 203 (All). 4.2 Further when the assessee has its own past history and this is not the first year, then the assessee`s own past history is the best guide and there was no justification at all to rely to the comparable case. Kindly referAjay Goyal VS. ITO 99 TTJ 164 (JD), It was held that: “Accounts—Rejection—GP rate—Best guide for estimation of the trading results after rejecting the books is either the past history of the assessee or any other comparable case—The past history of the assessee takes preference over a comparable case—Assessee having 10 ITA NO. 397/JP/2015 RAJ AUTO WHEELS (P) LTD. VS JCIT, RA…

KOTHARI JEWELS PRIVATE LIMITED,MUMBAI vs. ACIT, JAIPUR

In the result, the appeal of the assessee is allowed

…it is to be estimated either on the basis of past history of the appellant's case or on the basis of any comparable case. Reliance is placed on the following case laws: i) CIT vs. Inani Marbles Pvt. Ltd. (2009) 316 ITR 125 (Raj) ii) Ajay Goyal vs. ITO (2006) 99 TTJ 164 (ITAT, Jaipur) iii) ITO Ward 2 Churu vs. Jai Construction Co., ITA NO. 64/JU/2014 (ITAT, Jodhpur) iv) M/s Bhika Ram Devrath vs. ITO Ward-1, Churu, ITA No. 245/Jodh/2013 (ITAT, Jodhpur). As regards the various case laws relied upon by the appellant it may be mentioned that in these case laws essentially it has been held that the decrease in GP rat…

MUKESH KUMAR MEENA,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is partly allowed for statistical purpose

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh HkkxpUn] ys[kk lnL; ,oa Jh dqy Hkkjr] U;kf;d lnL; ds le{k BEFORE: SHRI BHAGCHAND, AM AND SHRI KUL BHARAT, JM vk;dj vihy la-@ITA No.657/JP/2016 fu/kZkj.k o"kZ@Assessment Year : 2011-12. cuke Shri Mukesh Kumar Meena, The Income Tax Officer, Vs. S/o Late Makhan Lal Meenaaa Ward 4(2), Village & Post Thanagazi, District- Jaipur. Alwar, (Raj.) LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. BCUPK 0255 J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri M.L. Borad (Advocate) jktLo dh vksj ls@…

INDER KUMAR GUPTA,JAIPUR vs. ITO, WARD 4-2, JAIPUR

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

…made additions by relying on the same books of accounts. Instead, the Assessing officer ought to have made the best judgement assessment on the basis of the history and nature of business and the net profit rate as shown by the assessee in the previous year. 99 TTJ 164 Ajay Goyal Vs. ITO (Jd.) May 9. 2005 Accounts - Rejection - GP rate - Best guide for estimation of the trading results after rejecting the books is either the past history of the assessee or any other comparable case - The past history of the assessee takes preference over a comparable case - Assessee having declared higher GP rate than the preced…

JANTA CONSTRUCTION CO.,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: The Itat By Taking Following Grounds Of Appeal:

…ITO Vs. Chohtan Construction Co. (Jd.) 5th March, (i) 2004. (ii) Kansara Bearings Pvt. Ltd. vs. ACIT reported in 270 ITR 235 (iii) Collector Ram SharmaVs. DCIT [ITAT (JPR) in ITA no. 771/Jp/2012 (iv) Prashant Oil mill Vs. ITO [72 Taxmann.com 136 (Guj)] (v) 99 TTJ 164 Ajay Goyal Vs. ITO (Jd.) (vi) 5 ITR 170 (PC) CIT V/s Laxminarain Badridas (vii) 60 ITR 239 (SC) State of Kerala V/s Velukutty ITA 861/JP/2014_ 6 Janta Construction Co. Vs ITO (viii) 115 ITR 524 (SC) Brij Bhushan Lal Parduman Kumar, etc. V/s CIT, Haryana, Himachal Pradesh and New Delhi-III Further he also pleaded that there was no need to dist…

LAXMI NARAYAN HIMMATRAMKA,JAIPUR vs. ITO, JHUNJHUNU

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

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES (SMC), JAIPUR Jh HkkxpUn] ys[kk lnL; ds le{k BEFORE: SHRI BHAGCHAND, ACCOUNTANT MEMBER vk;dj vihy la-@ITA No. 973/JP/2016 fu/kZkj.k o"kZ@Assessment Year : 2010-11 cuke Late Shri Laxmi Narayan Himmatramka The ITO Vs. Th.L/h Shri Jhandi Prasad Himmatramka Ward- 2, Jhunjhunu P.O. Chirawa -333 026 LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACPH 7931 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by: Shri Manish Agarwal, CA jktLo dh vksj ls@ Revenue by :Smt. Poonam Rai, DCIT-. DR lquokbZ dh rkj…