D.b. Income Tax Appeal v. M/S Hariram Chaggan Lal & Party, Jaipur

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH ATJAIPUR D.B. Income Tax Appeal No. 357 / 2008Commissioner of Income Tax, Jipur-II, Jaipur. ----Appellant Versus M/S Hariram Chaggan Lal & Party, Jaipur. ----Respondent _____________________________________________________ For Appellant(s) : Mr. K.D. Mathur on behalf of Mr. R.B. Mathur.For Respondent(s) : None present. _____________________________________________________ HON'BLE MR. JUSTICE K.S. JHAVERIHON'BLE MR. JUSTICE VINIT KUMAR MATHURJudgment Per Hon’ble Jhaveri J. 27/01/2017 1. By way of this appeal, the appellant has challenged thejudgment and order of the Tribunal whereby the Tribunal hasdismissed the appeal preferred by the assessee but partly allowedthe appeal of the department. 2.This Court while admitting the appeal on 03.11.2008 hasframed the following substantial questions of law: “(i)Whetherinthefactsandcircumstances of the case the ITAT andCIT(A) were justified in law in restrictingthe additions without assigning any reasonswhen the invoking of the provisions ofSection 145 of the Act has been upheld? (ii)Whetherinthefactsandcircumstances of the case, the ITAT has notacted perversely in reducing and restrictingthe trading additions without assigning anyreasons and making estimation overestimation?” 3.The facts of the case are that the return declaring income ofRs. 13,24,490/- was filed in the status of AOP on 10.12.1999which is accompanied by audit report u/s.44AB of the Income TaxAct along with Trading Account, Profit and Loss Account andBalance Sheet. The return was processed u/s. =143(1),(a) on11.08.2000. The case was selected for scrutiny and noticeu/s.143(2) was issued and complied with. 4.Counsel for the appellant has contended that the issue iscovered by the decision of this Court in case of CIT vs. RamSingh 363 ITR 417 (Rajasthan). 5.Thought the respondent has been served but nobody has putin appearance on its behalf. Therefore, we are accepting thestatement made by the counsel for the appellant. 6.In view of the aforesaid decision, we remit the matter backto the Tribunal who will decide the same in accordance with law. 7.The appeal stands disposed of accordingly. (VINIT KUMAR MATHUR)J. (K.S. JHAVERI)J. Asheesh Kr. Yadav/106