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...-2009 and 2009-2010.2. The applicant revenue is aggrieved by the order of the Tribunal in holding of the evaporation loss of 1% in the account of both the petrol and diesel was reasonable...para 9 the Tribunal had observed that in the earlier order the Tribunal had held the evaporation loss at 1% in the account of both the petrol and diesel was reasonable.4. The learned A.R...for the respondent pointed out that admittedly the grievance was only in relation to evaporation loss of 1% in petrol account and not in the account of diesel.5. We find that an error...
...has claimed leakage on HSD(diesel) to the tune of 30,018 litres @ 0.55% and petrol to the tune of 17,582 litres @1.13%. The Assessing Officer observed that the company allows leakage on evaporation...evaporation loss allowed in the preceding assessment years to the assessee. According to the said chart, in the assessment year 2009-2010, evaporation loss on petrol was allowed at 1% and on diesel at 0.5...%. In the assessment year 2010-2011, evaporation loss allowed on petrol was 0.98% and on diesel at 0.5%. In the assessment year 2011-2012, evaporation loss on petrol was allowed at 1% and on diesel at 0.5...
...leakage on evaporation/handling loss @ 0.75% on petrol upto average sale of 600 kls and @0.60% on the balance sale above 600 kls (6,00,000 litres). Similarly, loss is allowable @0.25% on diesel upto average...a chart showing evaporation loss allowed in the preceding assessment years to the assessee. According to the said chart, in the assessment year 2009-2010, evaporation loss on petrol was allowed at 1...% and on diesel at 0.5%. In the assessment year 2010-2011, evaporation loss allowed on petrol was 0.98% and on diesel at 0.5%. In the assessment year 2011-2012, evaporation loss on petrol was allowed at...
...Ld.A.O erred in making addition of Rs.223584/- on account of disallowance of genuine & reasonable shortage (evaporation loss) claimed against sales of Petrol & Diesel and the Hon'ble CIT (Appeals) erred...in confirming the same that too without considering the facts of the case and also not in accordance with the law. The evaporation of petrol/diesel is within recognized norms of the petroleum...account of shortage of diesel and petrol. The appellant has claimed the shortage of petrol and diesel. The evaporation of petrol/diesel is a recognized norm of the petroleum companies and even when they...
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3] The learned CIT(A) erred in holding that only 50% of the shortage loss due to evaporation of diesel and petrol claimed by the assessee was to be considered as genuine...appreciate that the shortage on account of evaporation loss declared by the assessee at 0.37% in respect of diesel and 0.69% in respect of petrol was not excessive on facts of the case...evaporation of petrol / diesel to Rs.5,40,962/-. The CIT(A) allowed the claim of assessee to the extent of 50% i.e. Rs.2,70,481/- and gross profit of assessee was worked out to Rs.18,96,723/-, against the...
...and in the circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 23,85,122/- on account of excess evaporation/handling loss claimed on petrol and diesel....11. We have heard the rival contentions and perused the record. The issue arising in the present appeal is in relation to the allowance of excess evaporation/handling loss claimed of petrol...and diesel. The assessee is running petrol pump and during the course of assessment proceedings the assessee had claimed evaporation of loss of 1.431% in petrol and 0.499% in diesel. The Assessing...
...circumstances of the case the Ld. CIT(Appeals) NFAC has erred in having sustained an addition of Rs.4,51,355/- made by the Ld.AO on account of excess loss/shortage/evaporation of Petrol calculated at...shortage/evaporation of petrol and diesel as per the prescribed norms by the Oil Company and therefore, there is a mistake which is apparent from record and notice under section 154 was issued and.../ evaporation of petrol and an amount of Rs. 3,17,802/- on account of excess / shortage / evaporation of diesel which, on appeal, has been sustained by the Ld. CIT(A) and against which, the assessee is in...
...circumstances of the case the Ld. CIT(Appeals) NFAC has erred in having sustained an addition of Rs.4,51,355/- made by the Ld.AO on account of excess loss/shortage/evaporation of Petrol calculated at...shortage/evaporation of petrol and diesel as per the prescribed norms by the Oil Company and therefore, there is a mistake which is apparent from record and notice under section 154 was issued and.../ evaporation of petrol and an amount of Rs. 3,17,802/- on account of excess / shortage / evaporation of diesel which, on appeal, has been sustained by the Ld. CIT(A) and against which, the assessee is in...
...evaporation/ handling loss of Diesel & MS (Petrol) and adding Rs 47,856/- and Rs 12,656/- respectively to the income in spite of detecting no sales outside the books. 3. The...assessee is running a petrol pump and there occurs certain natural evaporation in petrol and diesel for which the assessee had claimed loss. However, the authorities below have restricted the same...the rival parties and have gone through the material placed on record. I find that assessee has submitted a chart showing therein the percentage of evaporation for diesel and petrol during the current...
...respondents as Annexure R/3 in which it is mentioned that there was total loss of Rs. 3,29,874.80 on account of showing excess evaporation over and above 0.75% in relation to petrol. Similarly, loss of Rs...petrol to the tune of 219.8 liters was shown in excess. Similarly, petitioner had shown evaporation of petrol to the tune of 1218.7 liters, whereas as per IOC guidelines it should not have been more...than 492 liters, therefore, on account of evaporation, excess quantity of 726.7 liters of petrol was shown, rate of which was calculated at the prevailing rate of Rs. 50.30 liters at the relevant point...
.../- in ITA No. 913.Chd/2012) out of total addition of Rs. 20,25,009/- (Rs. 21,02,143/- in ITA No. 913.Chd/2012) made on account of excess evaporation/handling loss claimed on petrol and diesel...evaporation loss of 79208 litres of petrol against sale of 6158735 litres of petrol, which works to 1.286% of the total sales made by the assessee. Similarly, in the diesel account the handling loss...was shown at 0.39%. The Assessing Officer sought information from Indian Oil Corporation Ltd., Chandigarh regarding the standard norms for petrol and diesel evaporation/handling losses permissible...
...facts and in the circumstances of the case and in law, the Ld.CIT(A) has erred in deleting the addition of Rs. 19,59,859/- made on account of excess evaporation/handling loss claimed on petrol and...perused the record. The assessee is engaged in the business of running of petrol pump. During the year under consideration the assessee had shown an evaporation loss @ 0.97% in the case of petrol and...mentioned that shortage/loss in petrol/diesel on account of evaporation/handling is a normal undisputed feature. Similar issue had come up in A.Y 2009-10 also and Hon'ble IT AT has affirmed my order...
..., petroleum dealers are not entitled to claim input tax credit in respect of shortage of loss of petrol and diesel due to evaporation because input tax is to be recovered on account of shortage of evaporation...quantity of petrol/diesel because of evaporation, resulting in ever increasing gap between the input tax paid and credit taken thereof.
The argument has no merit. It is a conceded fact...evaporation losses is concerned, in term of Clause (ii) of Entry 5 of the Schedule 'E' such liability of input tax shall be nil because petrol/diesel gets CWP No.21948 of 2012 [ 14 ] disposed of by way of...
..., dismissed.7. On ground No. 2, assessee challenged addition of Rs. 38,589/- on account of claim of loss due to evaporation of petrol on estimate basis. Brief facts of the issue are that...assessee is claiming shortage on account of evaporation of petrol at 1.2% as against the normal evaporation at 0.75%. On being questioned, assessee could not substantiate his claim with supporting evidence...identical issue have been considered by the Assessing Officer in detail in which assessee claimed shortage on account of evaporation in petrol at 1% whereas as per Assessing Officer, the guidelines of...
...Petrol pump. During the course of assessment proceedings, the Assessing Officer (AO) observed that the wastage/evaporation claimed by the assessee was on higher side vis-à-vis the limits prescribed by the...oil companies. On being called upon to explain the reasons, the assessee submitted that more evaporation/wastage occurred because of Diesel and Petrol tank breakage. Not satisfied, the AO applied the...also gave separate reasons for the excess wastage, being, breakage of diesel and petrol tank. In my considered opinion, though the general standards of evaporation/breakage given by the oil companies...
...or the criteria of evaporation of petrol and diesel. The AO was of the opinion that the assessee might not have accounted of the cash sales in the regular books of account. The AO accordingly held...heard both the parties. We have considered the order of the Jodhpur bench in the case of Marwar Petrol Service v. ITO, 69 TTJ 772 in which it has been held that trading...
...attributable to evaporation of both Petrol and Diesel and that, the same is within the levels of shortage permissible on the ground of evaporation. Ext.P3 is another memo of charges dated 04.06.2004. In...1st respondent has fixed the limit of evaporation of motor spirit that was permissible at 0.30% for Petrol and up to 0.15% for Diesel in Petrol Bunks. According to the counsel for the petitioner, the...places reliance on Ext.P11 order dated 20.10.1990 issued under Section 3 of the Essential Commodities Act, 1955 by the Central Government to point out that, evaporation handling losses in motor spirit has...
..., the quantity of which has already been disclosed in the Trading Account for the year end 31% March 2013. The evaporation loss for the year is 5,503 Litres of Petrol and 6,034.... The permissible evaporation loss as per the oil company norms is 0.6 % in the case of Petrol and 0.2% in the case of Diesel. We are getting an average commission of Rs 1.63/Litre in...Annexure I.
If the evaporation loss and accidental are taken in to consideration for calculating G.P, the commission receipt of Petrol and Diesel...
...account of the appellant for loss by shortage which is on account of evaporation of petrol and diesel and is a normal loss considering the nature of business of the appellant. Hence...Court and as the said certificate came only in February 2025, ownership of the Petrol Pump of the late assessee could be finalised. Besides, due to wrong advise of the consultant, there was further...
...contentions and gone through facts and circumstances of the case. I find that assessee has claimed shortage due to evaporation and loss of handling of Rs. 45908/- on account of petrol and Rs. 3900/- on...this appeal of assessee is against the order of CIT(A) confirming the addition made by AO on account of suppression of sale by showing excess evaporation or loss at Rs. 3,71,207/-. For this assessee has...raised the following ground:—“2. THAT the addition of Rs. 3,71,207/- taking the plea that there is suppression of sale by showing excess evaporation and other losses is a fig of...