IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCHES : D : NEW DELHI
BEFORE SHRI R.S. SYAL, AM AND SHRI C.M. GARG, JM
ITA Nos.1814 & 1816/Del/2014
Assessment Years : 2007-08 & 2009-10
Jaguar Enterprises, Vs. DCIT,
232/234, Shopping Complex Circle-32(1),
Flyover, New Delhi.
Defence Colony,
New Delhi.
PAN : AAAFJ0020D
(Appellant) (Respondent)
Assessee By : Shri Atul Puri, CA
Department By : Shri S.N. Bhatia, Sr.DR
ORDER
PER C.M.GARG, J.M.:
These two appeals filed by the assessee based on similar
facts and almost similar grounds relating to assessment years
2007-08 and 2009-10 arise out of a common order passed by the
ld. CIT(A) on 21.02.14.
ITA Nos.1814 & 1816/Del/2014
2. It is relevant to mention that the appeal of the assessee for
the A.Y. 2008-09 was fixed in this batch of appeals. Even the
impugned order also covers the A.Y.2008-09. The submissions
were made by both the sides qua the appeal for the A.Y. 2008-09.
In so far as the present appeals are concerned, both the parties
have adopted their arguments made for the A.Y. 2008-09, for
which we have passed a separate order.
3. As the facts and circumstances of these two appeals are
mutatis mutandis similar to those for the A.Y. 2008-09, following
the view taken there in, we hold that the ld. CIT(A) was not
justified in holding that : -
a. 8% net profit rate be applied on the amount of `Other Clearing
expenses', which was reimbursed by the clients to the assessee;
and
b. provisions of section 40(a)(ia) are not applicable on the
`Godown rent' paid by the assessee for its clients as the assessee
did not claim any deduction for such amounts.
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ITA Nos.1814 & 1816/Del/2014
4. The grounds regarding initiation of re-assessment were not
pressed by the ld. AR. The same, therefore, stand dismissed.
5. In the result, both the appeals are partly allowed.
The order pronounced in the open court on 03.07.2014.
Sd/- Sd/-
[R.S. SYAL] [C.M. GARG]
ACCOUNTANT MEMBER JUDICIAL MEMBER
Dated, 03th July, 2014.
dk
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT (A)
5. DR, ITAT
AR, ITAT, NEW DELHI
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