Shri Prem Chand Jain v. The Income Tax Officer, Ward-4 (2), Jaipur

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR D.B. Income Tax Appeal No.41/2019 Shri Prem Chand Jain, 8/314, Vidhyadhar Nagar, Jaipur. ----Appellant Versus The Income Tax Officer, Ward-4 (2), Jaipur. ----Respondent For Appellant(s) : Mr. Sandeep Taneja through VCFor Respondent(s): HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE PRAKASH GUPTA Order 01/07/2020 1.Heard learned counsel for the appellant and perusedthe grounds taken herein and also perused the order passed bythe Income Tax Appellate Authority (ITAT). 2.Learned counsel for the appellant fairly admits that theappellant did not produce any books of accounts since he has lostthe same before the income tax authorities. 3.On perusal of the same, it appears that the appellant had a sale turnover in the assessment year 2014-15 for a sum of₹26.9 Crores and he indicated the gross profit of 24.9 Lacs on₹total sales, which effectively amounted to only 0.93%. Theappellant submitted that his books of accounts were lost intransaction for which he has lodged the FIR. 4.After perusing the order of the ITAT, we do not find anyjustifiable cause to interfere with the same. 5.Accordingly, the appeal stands dismissed. (PRAKASH GUPTA),J (INDRAJIT MAHANTY),CJ Anil Goyal-PS/PKM/8