CIT Vs. BABULAL AGARWAL

JUDGEMENT

(1.) BY way of this appeal under section 260A of the Income Tax Act, 1961 (the Act), the Revenue seeks to question the order dt. 20 -11 -2009 passed by the Tribunal, Jaipur Bench, Jaipur in ITA No. 1473/Jp/2008 for the assessment year 2005 -06.

(2.) IT may be pointed out at the outset that the aforesaid ITA No. 1473/Jp/2008 by the Revenue was earlier considered and partly allowed by the Tribunal on 13 -2 -2009. However, the said order dt. 13 -2 -2009 was recalled by the Tribunal on 25 -5 -2009 while allowing an application (Misc. Appln. No. 24/Jp/2009) moved on behalf of the assessee, stating the grievance against denial of adequate opportunity of hearing. The said order dt. 25th May, 2009 was sought to be questioned by the Revenue in this Court in D.B. IT Appeal No. 407 of 2011. The said appeal, was, however, dismissed as infructuous by this Court on 6 -8 -2012, essentially for the reason that since after recalling its earlier order, the Tribunal had decided the main appeal (ITA No. 1473/Jp/2008) by the impugned order dt. 20 -11 -2009, which has been challenged in the instant appeal.

(3.) IN brief, the relevant background aspects of the matter are that the respondent -assessee is engaged in manufacturing and trading of bed sheets, cotton cloths, general cloths and quilts. During the year under consideration, he had shown gross profit of Rs. 8,28,531 on a total turnover of Rs. 1,11,55,235, while giving GP rate at 7.43 per cent.