Appeal details
Counselvise Citation
[2011] 100 COUNSELVISE.COM (IT) 2309 (ITAT-DELHI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
10 month(s) 9 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
23-03-2011
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
G
Next Hearing Date
23-03-2011
Assessment Year
2006-2007
Appeal Filed On
14-05-2010
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH : G NEW DELHI) (DELHI BENCH : G NEW DELHI) (DELHI BENCH : G NEW DELHI) (DELHI BENCH : G NEW DELHI) BEFORE SHRI A.D. JAIN , JUDICIAL MEMBER AND BEFORE SHRI A.D. JAIN , JUDICIAL MEMBER AND BEFORE SHRI A.D. JAIN , JUDICIAL MEMBER AND BEFORE SHRI A.D. JAIN , JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER I.T.A. NO.2291/DEL./2010 I.T.A. NO.2291/DEL./2010 I.T.A. NO.2291/DEL./2010 I.T.A. NO.2291/DEL./2010 (ASSESSMENT YEAR : 2006 (ASSESSMENT YEAR : 2006 (ASSESSMENT YEAR : 2006 (ASSESSMENT YEAR : 2006- -- -07) 07) 07) 07) M/S SHIVAM TRADERS, M/S SHIVAM TRADERS, M/S SHIVAM TRADERS, M/S SHIVAM TRADERS, VS. VS. VS. VS. ITO, WARD 29(4), ITO, WARD 29(4), ITO, WARD 29(4), ITO, WARD 29(4), 1405, 1 1405, 1 1405, 1 1405, 1 ST STST ST FLOOR, GALI MANDIR JHAHAJARWALA, FLOOR, GALI MANDIR JHAHAJARWALA, FLOOR, GALI MANDIR JHAHAJARWALA, FLOOR, GALI MANDIR JHAHAJARWALA, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. CHANDNI CHOWK, CHANDNI CHOWK, CHANDNI CHOWK, CHANDNI CHOWK, NEW DELHI. NEW DELHI. NEW DELHI. NEW DELHI. (PAN/GIR NO. : AAWFS0295D) (PAN/GIR NO. : AAWFS0295D) (PAN/GIR NO. : AAWFS0295D) (PAN/GIR NO. : AAWFS0295D) (APPELLANT) (APPELLANT) (APPELLANT) (APPELLANT) (RESPONDENT) (RESPONDENT) (RESPONDENT) (RESPONDENT) ASSESSEE BY : SHRI RAJIV JAIN, CA ASSESSEE BY : SHRI RAJIV JAIN, CA ASSESSEE BY : SHRI RAJIV JAIN, CA ASSESSEE BY : SHRI RAJIV JAIN, CA REVENUE BY : SHRI AMINDER KUMAR, DR REVENUE BY : SHRI AMINDER KUMAR, DR REVENUE BY : SHRI AMINDER KUMAR, DR REVENUE BY : SHRI AMINDER KUMAR, DR ORDER ORDER ORDER ORDER PER A.D. JAIN, JM THIS IS ASSESSEE APPEAL FOR ASSESSMENT YEAR 2006-07 TAKING TH E FOLLOWING GROUNDS: 1. THAT THE ORDER OF THE CIT(A)XXV, NEW DELHI DAT ED 26.2.2010 DISMISSING THE APPEAL WITHOUT ADJUDICATION A ND THAT TOO WITHOUT PROVIDING A REASONABLE OPPORTUNITY, IS BAD IN LAW AND ON FATS OF THE CASE AND IS AGAINST THE PRINC IPLE OF NATURAL JUSTICE. (A) IN A CASE WHERE THE ASSUMPTION OF JURISDICTION BY THEN AO WITHOUT SERVICE OF NOTICE WITHIN THE STIPULATED TIME PERIOD WAS WRONG. (B) IN A CASE WHICH THE ASSESSEE WAS ENGAGED IN THE BUSINESS OF BULLION MERCHANT THE COMPLETION OF ASSESSMENT BY THE AO U/S 144 OF THE ACT, BY ASSUMING THE NET PROFIT AT `27,10,980 COMPUTED @ 5% OF THE TOTAL SALE AMOUNTING TO `5,42,19,612 AS AGAINST THE DECLARED NET PROFIT OF `32,890, WAS UNREASONABLE, EXCESSIVE AND UNJUSTIFIED. 2. THE LD.CIT(A), BY VIRTUE OF THE IMPUGNED ORDER, DISMISSED THE APPEAL EX-PARTE QUA THE ASSESSEE. ON MERITS, THE APPEAL , HOWEVER, WAS NOT DECIDED BY THE CIT(A) . ACCORDINGLY, THE MA TTER IS REMITTED TO THE FILE OF THE CIT(A), TO BE DECIDED ON MERITS IN A CCORDANCE WITH LAW. THE ASSESSEE SHALL COOPERATE IN THE PROCEEDINGS BEFORE TH E CIT(A). 3. IN THE RESULT, FOR STATISTICAL PURPOSES, THE APPEAL O F THE ASSESSEE IS TREATED AS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 23.03.2011. SD/- SD/- [SHAMIM YAHYA] [A.D. JAIN] ACCOUNTANT MEMBER JUDICIAL MEMBER DATE MARCH, 23, 2011. SKB COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A)-XXV, NEW DELHI. 5. CIT( ITAT) DEPUTY REGISTRAR, ITAT, DELHI BENCHES HOWEVER, WEREINOT
