Principal Commissioner of Income-tax (Central), Bhopal v. Ramswaroop Shivare
[Citation -2019-LL-0715-65]

Citation 2019-LL-0715-65
Appellant Name Principal Commissioner of Income-tax (Central), Bhopal
Respondent Name Ramswaroop Shivare
Court HIGH COURT OF MADHYA PRADESH AT GWALIOR
Relevant Act Income-tax
Date of Order 15/07/2019
Judgment View Judgment
Keyword Tags net profit • suppression of sales • determination of turnover • day-to-day stock register • rejection of books of accounts
Bot Summary: This appeal under section 260-A of the Income Tax Act, 1961 directed against the order dated 23.4.2018 passed in I.T.A.No. 366/AGR/2015 by the Income Tax Appellate Tribunal Agra Bench, Agra raises the following question of law; as to: Whether in view of the facts as regard to defects of the sales unsupported by day to day shop wise register of stock and sales, the assessing officer was justified in estimating the turnover on the basis of information received from the Excise Department by rejecting books of accounts under section 145 of the Act, 1961 and taxing entire suppressed sale as income, or only the net profit part can be taxed as income. Has been answered against the Revenue in I.T.A.No.


THE HIGH COURT OF MADHYA PRADESH I.T.A.No.43/2019 (Principal Commissioner of Income Tax (Central), Ayakar Bhawan, Hosangabad Road, Bhopal Vs. Shri Ramswaroop Shivare, Gwalior ) Gwalior, Dated:-15.7.2019 Shri D.P.S. Bhadoriya, learned counsel for appellant. Heard on admission. This appeal under section 260-A of Income Tax Act, 1961 directed against order dated 23.4.2018 passed in I.T.A.No.366/AGR/2015 by Income Tax Appellate Tribunal Agra Bench, Agra raises following question of law; as to: Whether in view of facts as regard to defects of sales unsupported by day to day shop wise register of stock and sales, assessing officer was justified in estimating turnover on basis of information received from Excise Department by rejecting books of accounts under section 145 (3) of Act, 1961 and taxing entire suppressed sale as income, or only net profit part can be taxed as income. ; has been answered against Revenue in I.T.A.No.18/2019 (Principal Commissioner of Income Tax, City Centre, Gwalior Vs. M/s Shivhare Associates, Jinsinala No.1, Gwalior (M.P.)) decided on 12.7.2019. In view whereof, this appeal being sans merit is dismissed. No costs. (Sanjay Yadav) (Vivek Agarwal) Judge Judge Pawar/- ASHISH PAWAR Principal Commissioner of Income-tax (Central), Bhopal v. Ramswaroop Shivare
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