ITO, Ward-1(2), Hyd, Hyderabad V. Ch. Srinivasulu Reddy, Hyd, Hyderabad

CO 67/HYD/2015

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 2174 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 5 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 22-02-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 16-11-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: B KURMI NAIDU
• Assessee Lawyers: K A SAI PRASAD
• Keywords: Reasonable cause; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER CROSS OBJECTION NO.67/HYD/2015 ARISING OUT OF ITA.NO.1678/HYD/2013 - ASSESSMENT YEAR 2008-2009 MR. CH. SRINIVASULU REDDY, HYDERABAD. VS. THE INCOME TAX OFFICER, WARD-1(2), HYDERABAD. (CROSS OBJECTOR) (RESPONDENT) FOR ASSESSEE : MR. K.A. SAI PRASAD & MR. K.C. DEVDAS FOR REVENUE : MR. B. KURMI NAIDU DATE OF HEARING : 22.02.2016 DATE OF PRONOUNCEMENT : 22.02.2016 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS CROSS OBJECTION IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A), HYDERABAD FOR THE A.Y. 2008-09 WHEREIN THE ASSESSEE HAS RAISED THE FOLLOWI NG CROSS OBJECTIONS : 1. THE LD. CIT(A) IS NOT JUSTIFIED IN NOT APPRECIATIN G THE CIRCUMSTANCES UNDER WHICH THE CASH ADVANCES WERE RECEIVED. 2. THE LD. CIT(A) IS NOT JUSTIFIED IN ACCEPTING THE REASONABLE CAUSE FOR ACCEPTING THE CASH ADVANCES. 2 CO.NO. 67/HYD/2015 IN ITA.NO.1678/HYD/2013 MR. CH. SRINIVASULU REDDY, HYDERABAD. 2. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE REVENUE APPEAL IN WHICH THE ASSESSEE HAS FILED THIS CROSS-OBJECTION HAS BEEN DI SMISSED BY THIS TRIBUNAL VIDE ORDERS DATED 22.12.2015 ON AC COUNT OF LOW TAX EFFECT AND THEREFORE, THIS CROSS-OBJECTI ON IS NOT MAINTAINABLE AND MAY ACCORDINGLY BE DISMISSED. TAKI NG THE SAME INTO CONSIDERATION, THE CROSS-OBJECTION OF THE ASSESSEE IS DISMISSED AS INFRUCTUOUS. 3. IN THE RESULT, CROSS OBJECTION OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22.02.2016. SD/- SD/- (S. RIFAUR RAHMAN) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 22 ND FEBRUARY, 2016 VBP/- COPY TO : 1. MR. CH. SRINIVASULU REDDY, HYDERABAD. C/O. MR. CH. PARTHASARATHY & CO., 1-1-298/2/B/3, 1 ST FLOOR, SOWBHAGYA AVENUE, STREET NO.1, ASHOKNAGAR, HYDERABAD 20. 2. THE INCOME TAX OFFICER, WARD - 1(2), HYDERABAD. 3. CIT(A), HYDERABAD. 4. CIT, HYDERABAD 5. D.R. ITAT B BENCH, HYDERABAD. 6 . GUARD FILE