Ajai Kumar Singh Khaldelial v. Principal CIT & Anr.

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The Tax PublishersWrit Tax No. 318 of 2016 2020 TaxPub(DT) 0471 (All-HC) : (2020) 421 ITR 0006 : (2020) 312 CTR 0473 : (2021) 277 TAXMAN 0091 IN THE ALLAHABAD HIGH COURT ALOK MATHUR, J. Ajai Kumar Singh Khaldelial v. Principal CIT & Anr. Writ Tax No. 318 of 2016 18 January, 2020 Petitioner by: Suyash Agarwal. Respondent by: C.S.C. Praveen Kumar, S.C. ORDER 1. Heard Sri Suyash Agarwal, learned Counsel for the petitioner as well as Sri Praveen Kumar, learned Counsel for the respondents. 2. The petitioner by means of this writ petition has challenged the order passed by the Principal Commissioner, Income Tax, Gorakhpur thereby he has rejected the application preferred by the petitioner under section 264 of the Income Tax Act, 1961 (hereinafter referred to as the Act, 1961 ). 3. Learned Counsel for the petitioner submits that petitioner is proprietor of M/s Purushottam Das Ajai Kumar, Asif Ganj, Azamgarh and is engaged in the business of retail trading of ready made and other clothes in the name of the proprietary concern. For the assessment year 2008-09, the petitioner s firm filed income tax return which included income of Rs. 34,912 earned from the house property besides business income of Rs. 1,70,304 . The petitioner got his firm s accounts audited with net profit of Rs. 1,61,012 showing @ 2.00% and gross profit of Rs. 8,67,837 being 44.33% of the gross receipt. SUBSCRIBE FOR FULL CONTENT

The Tax PublishersWrit Tax No. 318 of 2016
2020 TaxPub(DT) 0471 (All-HC) : (2020) 421 ITR 0006 : (2020) 312 CTR 0473 : (2021) 277 TAXMAN 0091

IN THE ALLAHABAD HIGH COURT

ALOK MATHUR, J.

Ajai Kumar Singh Khaldelial v. Principal CIT & Anr.

Writ Tax No. 318 of 2016

18 January, 2020

Petitioner by: Suyash Agarwal.

Respondent by: C.S.C. Praveen Kumar, S.C.

ORDER

1. Heard Sri Suyash Agarwal, learned Counsel for the petitioner as well as Sri Praveen Kumar, learned Counsel for the respondents.

2. The petitioner by means of this writ petition has challenged the order passed by the Principal Commissioner, Income Tax, Gorakhpur thereby he has rejected the application preferred by the petitioner under section 264 of the Income Tax Act, 1961 (hereinafter referred to as the Act, 1961 ).

3. Learned Counsel for the petitioner submits that petitioner is proprietor of M/s Purushottam Das Ajai Kumar, Asif Ganj, Azamgarh and is engaged in the business of retail trading of ready made and other clothes in the name of the proprietary concern. For the assessment year 2008-09, the petitioner s firm filed income tax return which included income of Rs. 34,912 earned from the house property besides business income of Rs. 1,70,304 . The petitioner got his firm s accounts audited with net profit of Rs. 1,61,012 showing @ 2.00% and gross profit of Rs. 8,67,837 being 44.33% of the gross receipt.