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..., 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. B...assessee is doing business of running a petrol pump. The Assessing Officer noted that assessee has claimed expenses in the Profit & Loss Account which is duly audited. It was further noted that assessee has...Account, has been allowed to the assessee. The assessee, however, without mentioning any details in the books of account or in the Profit & Loss Account made further claim of Rs. 9,35,259/- as...
..., 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...and thus are reproduced as below:
"2. Further, an issue relating to evaporation loss in petrol and diesel was also discussed in the guidelines referred to above. It i...of the petitioner-association, though entitled to input tax credit on such tax have excess tax in their hands. The output tax liability is lower on account of evaporation loss leading to tax being...
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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 ...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 ...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 ...
...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 ...account of diesel and Rs. 24400/- on account of super diesel. AO made disallowance of claim of shortage due to evaporation and loss of handling at Rs. 3,71,207/- by disc...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 assess...
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certain percentage of loss of diesel and petrol due to evaporation and other factors which is normal in the case of ...rendered assessment order
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"erroneous". If due to an erroneous order of the AO the revenue is losing tax...and income is from purchase and sale of petrol and diesel of retail basis. Thus, under these circumstances and facts it cannot be held that either the assessment order is erroneous or prejudicial to the...
...was never stated before the Ld.AO that in the case of the assessee the loss due to evaporation is higher than the accepted norms because of old delivery equipments installed in the petrol...license fees paid amounting to Rs. 48,838/- and reasonable allowance for shortage of the petroleum products due to evaporation, pilferage etc. Considering the submission of the Ld.AR the Ld. AO re.... (iii) The actual evaporation shortages and pilferage may be higher due to old delivery equipments installed in the petrol bunks owned by the assessee. (iv) The Assessing...
....”3. The brief facts of the case are that the assessee firm is engaged in the business of sale of petrol, diesel, oil and kerosene. The assessee in its books of accounts claimed shortage in ...No. 2308.Ahd/2008 dated 31.8.20106. The learned DR, on the other hand, relied upon the orders of the authorities and submitted that the loss due to alleged damages of the pipe lines has...and spillage loss. That as per report of various bodies, the average loss for petrol would 1.4% and for diesel 0.78%. That assessee is maintaining daily report of quantitative...
...on their purchases in respect of the total purchased quantities. As regards sales, the dealer are showing sales of quantity lower than that purchased the difference being on account of loss due to...basis of a standard evaporation of 0.5% allowed by the companies as reported, are approximately to the tune of 35% of net tax payable by a petrol pump, which the department is supposed ...chain needs to pay an additional 16.8 paise per litre on account of value addition ignoring the loss on account of evaporation.
The Zonal Joint/Deputy Commissioners must arrange meetings...
... underreporting of gross profit attributable to evaporation/handling loss of petrol and diesel is restricted to Rs. 15,76,956/- as against the addition made at Rs. ...December, 1998, which was also submitted before the AO, evaporation/handling loss is permissible @ 0.60% in case of Petrol and 0.20% in case of Diesel, if the annual average sale...details of Audit Report. Since the diesel loss is within the threshold limit it can be considered and in the case of petrol it should be limited to 16,446 ltrs. Only. Therefore...
...rightly appreciated the fact that the stock statement submitted to the bank did not take into account the evaporation loss and handling loss of fuel. Due to this, naturally value ...due to evaporation and handling etc. It was also explained that the normal loss due to evaporation etc are not considered in the stock statement submitted to the bank. Hence logi...assessee due to evaporation and handling etc. The ld. AO did not agree to the explanations given by the assessee and accordingly proceeded to add the value of Rs. 8,79,156/- to the closin...
...purchased the difference being on account of loss due to evaporation etc. In this connection, attention is drawn to sub-rule (3) of rule 7 of Delhi Value Added ...."
The revenue implications, calculated on the basis of a standard evaporation of 0.5% allowed by the companies as reported, are approximately to the tune of...amount availed. This suggest that next retailer in the chain needs to pay an additional 16.8 paise per litre on account of value addition ignoring the loss on account of evaporation...
...difference being on account of loss due to evaporation etc.In this connection, attention is drawn to sub-rule (3) of rule 7 of Delhi Value Added T...standard evaporation of 0.5% allowed by the companies as reported, are approximately to the tune of 35% of net tax payable by a petrol pump, which the department is supposed to have been ...next retailer in the chain needs to pay an additional 16.8 paise per litre on account of value addition ignoring the loss on account of evaporation.The Zonal Joint/Deputy Commissioners...
...1. Pursuant to the order of 21-10-1994 and followed by an order dated 28-3-1995, certain directions were given in regard to the supply of lead-free petrol in the four metros...and the supply of 0.15 g/1 petrol at all the outlets in the four metros as well as in the rest of the country. According to the programme which was chalked out in this behalf, low-lead petrol of 0.../1 was to be supplied in the four metros at all the outlets by December 1994. This target was achieved even before that date by June 1994. The target for supplying the reduced lead content petrol of...
...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 err...under:“9. The Tribunal had held the evaporation loss of 1% in the account of petrol as reasonable. The issue raised in the present appeals before us is also in relation to the claim...-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...
...also borne the losses due to leakages, driage and/or evaporation during the course of storage at our pumps. M/s Caltex (India) Ltd., did not reimburse us for any loss...further queries made by the Commissioner of Sales Tax made a clear statement that the appellant had borne the losses due to leakage, driage, evaporation, etc. during the course of storage at the pumps...petrol pump installed by the appellant in the factory premises. The appellant entered into an agreement with Caltex (India) Limited for supply of petrol and petroleum products to it on certain...
...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 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...%. Hence, it was the submission of ld A.R. of the assessee that evaporation loss on petrol claimed by the assessee at 1.13% and on diesel at 0.55% compares favourable with the past accepted results ...
...to the assessee. It is the contention of the ld A.R. that from the past accepted results of the assessee, it can be seen that evaporation loss in case of petrol has been accepted at 1% an...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 averag...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 a...
...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, ...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 shoul...figure of Rs. 58,076.50/- has been arrived at.7. In view of the aforesaid discussion, it is apparent that petitioner was only responsible for loss to the tune of 946.5 liters of ...
...Tribunal had held the evaporation loss of 1% in the account of both the petrol and diesel as reasonable. The issue raised in the present appeals before us is also in relation to the claim ...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 ...
....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 ...2009-2010 allowed evaporation loss in the petrol account at 1% and in case of diesel at 0.499%. We find that the Tribunal in assessee's own case in ITA Nos. 912 & 913.Chd/2012 relating to assessment...evaporation loss of 1% in the account of both the petrol and diesel as reasonable. The issue raised in the present appeals before us is also in relation to the claim of ...