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Documents citing M/S. The Baganwala Adarsh Coop L/C ... vs Ito, Hisar on 27 March, 2017

Malwa Co-Op L & C Society Ltd, Muktsar vs Income Tax Officer Ward-Ii(2), Muktsar on 11 August, 2022

The ld. counsel of the assessee accordingly requested to fix the turnover amount to Rs.69,02,988/-. In this respect, the counsel of the assessee further mentioned that the ld. Revenue Authority has no power to go beyond the jurisdiction of the order of Hon'ble ITAT. Hon'ble ITAT already determined the turnover, and the direction was made accordingly. Also related to deduction u/s 5 ITA No. 39/Asr/2018 Malwa Coop. L & C Society Ltd. v. ITO 80P(2)(a)(vi) specific direction was made by the Hon'ble ITAT in its order dated 13.10.204 in ITA No. 483/Asr/2014.
Income Tax Appellate Tribunal - Amritsar Cites 8 - Cited by 0 - Full Document

Ashok Kumar Arora, Rewari vs Ito, Rewari on 12 April, 2017

The assessee had also relied on the decision of Tribunal in the case of Sehlanga Co-op L/C Society Ltd. vs. ITO. However, ld. CIT(A) did not agree with the assessee observing that the said decision differed in terms of the facts and merits of the case. Applying rate of net profit on the basis of best judgement assessment depends on facts obtaining in each case and in a given situation will be a question of fact. The estimate of 12% adopted in the case of other assessee in the same line of business cannot be an indicator of the real income earned in the hands of assessee. It is purely a guess work and the entire endeavour is to arrive at as best to the real income as possible but that cannot be a basis to saddle the assessee with penalty.
Income Tax Appellate Tribunal - Delhi Cites 8 - Cited by 1 - Full Document
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