Ita/1641/2009 Of Commissioner Of Income Tax, Kozhikode v. Hotel Relax Park, Manjeri

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE P.Q.BARKATH ALI WEDNESDAY, THE 23RD DECEMBER 2009 / 2ND POUSHA 1931 ITA.No. 1641 of 2009() ---------------------- AGAINST THE ORDER DATED 06/03/2009 IN COCH IN ITA.166/COCH/2007 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT/RESPONDENT: ----------------------------- THE COMMISSIONER OF INCOME TAX, KOZHIKODE BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- HOTEL RELAX PARK, MANJERI., ADV. SRI.T.A.SHAJI THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 23/12/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &P.Q.BARKATH ALI, JJ. .................................................................... I.T. Appeal No.1641 of 2009 .................................................................... Dated this the 23rd day of December, 2009. JUDGMENT Ramachandran Nair, J. Heard Standing Counsel appearing for the appellant and Adv.Sri.T.A.Shaji, appearing for the respondent-assessee. After hearingboth sides and after going through the order of the Commissionerissued under Section 263 of the Income Tax Act and the order of theTribunal, we do not find any substantial question of law arising fromthe order of the Tribunal because the Tribunal found that the AssessingOfficer estimated the turnover and therefrom worked out the net profiton an estimation basis. It is seen from the assessment order that asagainst a loss of Rs.5 lakhs and odd returned by the assessee, theAssessing Officer has computed net income at Rs.3,95,310/- and hasraised a total demand of above Rs.2 lakhs. It is seen that the officer hasalso proposed penalty under Section 271(1C) and 271B of the Act.We are of the view that the Tribunal rightly held that there was nojustification for the Commissioner to interfere with the assessment in proceedings initiated under Section 263 of the Act. Consequently wedismiss the appeal. C.N.RAMACHANDRAN NAIRJudge pms P.Q.BARKATH ALIJudge