JYOTI PRAKASH DAS,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI
In the result, the appeal of the assessee is allowed
ITA 102/GTY/2020[2017-18]Status: DisposedITAT Guwahati31 Aug 2023AY 2017-18
Bench: Shri Rajesh Kumar, Hon’Ble & Shri Sonjoy Sarma, Hon’Bleassessment Year: 2017-18 Jyoti Prakash Das Dcit, Circle-3, Guwahati Kumud Enclave, Nawaram Vs. Kakati Path, Rehabari, Guwahati-781008. Pan: Ajipd 5193 Q (Appellant) (Respondent) Present For: Appellant By : Shri Ramesh Goenka, Advocate Respondent By : Shri Arun Bhowmick, Jcit Date Of Hearing : 31.08.2023 Date Of Pronouncement : 31.08.2023 O R D E R Per Sonjoy Sarma, Jm: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 07.02.2020 Of Ld. Cit(A), Guwahati-2 Passed U/S 250 Of The Income Tax Act [Hereinafter Referred To As The ‘Act’]. The Assessee Has Raised The Following Grounds Of Appeal: “1(A). That Neither The Learned Assessing Officer Was Justified In Making Disallowance Of Rs. 1,43,73,603/- On Account Of Proportionate Direct Expenses & Adding The Same In The Closing Stock Of The Appellant Nor The Learned Cit(A) Was Justified In Confirming The Aforesaid Disallowance/Addition.
For Appellant: Shri Ramesh Goenka, AdvocateFor Respondent: Shri Arun Bhowmick, JCIT
Section 143(2)Section 250Section 40A(3)Section 69C
6. On this issue, the ld. A/R submitted before us that for AY
2016-17, the ld. AO was satisfied on the same valuation and method adopted by the assessee for valuation of the closing stock on 31/03/2016, as adopted by the assessee in the impugned assessment year. However, without giving any specific reason, the ld. AO by rejecting
