M/s. Lalitha Engineering P. Ltd, Secunderabad V. DCIT, Circle - 16(1), Hyderabad

CO 93/HYD/2010

• Counselvise Citation: [2011] 122 COUNSELVISE.COM (IT) 5990 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s) 25 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 27-05-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 05-04-2011
• Assessment Year: 2005-2006
• Appeal Filed On: 02-11-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RADHA KRISHNA
• Assessee Lawyers: V KRISHNA MOHAN
• Keywords: Business income; Additional evidence

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI G.C.GUPTA, VICE PRESIDENT AND SHRI AKBER BASHA, ACCOUNTANT MEMBER ITA NO.1086/HYD/2010 : ASSESSMEN T YEAR 2005-06 DY. COMMISSIONER OF INCOME - TAX, CIRCLE 16(1), HYDERABAD V/S. M/S. LALITHA ENGINEERING PVT. LTD., SECUNDERABAD. ( PAN AAACL 3455 D ) (APPELLANT) (RESPONDENT) AND CROSS OBJECTION NO.93/HYD/2010 (IN ITA NO.1086/HYD/2010 : ASSE SSMENT YEAR 2005-06 M/S. LALITHA ENGINEERING PVT. LTD., SECUNDERABAD. ( PAN AAACL 3455 D ) V/S. DY. COMMISSIONER OF INCOME - TAX, CIRCLE 16(1), HYDERABAD (CROSS - OBJECTOR) (RESPONDENT) DEPARTMENT BY : SHRI RADHA KRISHNA ASSESSEE BY : SHRI V. KRISHNA MOHAN O R D E R PER G.C.GUPTA, VICE PRESIDENT: THIS APPEAL BY THE REVENUE AND THE CROSS OBJECTIO N BY THE ASSESSEE FOR THE ASSESSMENT YEAR 2005-06 ARE DIRECT ED AGAINST THE ITA NO.1086/HYD/2010 & C.O. NO.93/HYD/2010 M/S. LALITHA ENGINEERING PVT. LTD., HYD ERABAD 2 ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS). THESE ARE BEING DISPOSED OF WITH THIS CONSOLIDATED ORDER. REVENUES APPEAL: ITA NO.1086/HYD/2010 : ASSESSMEN T YEAR 2005-06 2. EFFECTIVE GROUND OF APPEAL OF THE REVENUE IS A S UNDER- 1. WHETHER CIT(A) IS CORRECT ON THE FACTS AND CIRCUMS TANCES THAT THE ASSESSEE HAS DISCLOSED THE CONTRACT WORK RECEIPTS O F RS.51,.51,833. 3. THE LEARNED DEPARTMENTAL REPRESENTA TIVE HAS REFERRED TO THE RELEVANT PARAS OF THE ASSESSMENT ORDER IN SUPP ORT OF THE GROUND OF APPEAL OF THE REVENUE. HE HAS RELIED ON THE ORDER OF THE ASSESSING OFFICER. THE LEARNED COUNSEL FOR THE ASSESSEE HAS RELIED ON THE ORDER OF THE CIT(A). 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. WE FIND THAT IN FORM NO.16A, THE NAMES OF M/S. M/S. SWARNA TOLLWAY PVT. LTD. AND M/S. NMDC ARE MENTIONED. THE RECEIPTS WITH REGARD TO M/ S. SWARNA TOLLWAY PVT. LTD. WERE SHOWN BY THE ASSESSEE UNDER APGST SA LES. THE CIT(A) HAS RECORDED IN THE APPELLATE ORDER THAT THE ASSESS EE HAS TOTAL SALES AT RS.1,63,85,512. OUT OF THESE, THE APGST SALES ACCO UNT FOR RS.85,43,880. THE CIT(A) HAS FURTHER RECORDED THA T UNDER THE HEAD CST SALES, THE WORKS CONTRACT OF NMDC IS SHOWN AS RS.52,18,341 WHILE NMDC, BACHELI SALES HAVE BEEN SHOWN AT RS.25,31,291 . THE CIT(A) HAS RECORDED A FINDING THAT WITH REGARD TO M/S. SWARNA TOLLWAY PVT. LTD., THE ASSESSEE WAS ABLE TO TALLY THE FIGURES DURING THE A SSESSMENT PROCEEDINGS REFERRING TO THE EARLIER YEARS ACCOUNT S. WITH REGARD TO NMDC CONTRACT, THE CIT(A) HAS RECORDED THAT THE REC ONCILIATION ITA NO.1086/HYD/2010 & C.O. NO.93/HYD/2010 M/S. LALITHA ENGINEERING PVT. LTD., HYD ERABAD 3 STATEMENT HAS BEEN FILED BY THE ASSESSEE DURING THE APPELLATE PROCEEDINGS AND THE ASSESSEE HAS ALSO GIVEN DETAILE D REASONS AS TO WHY THE EXACT FIGURE DID NOT MATCH. THE CIT(A) HAS RECO RDED THAT AFTER EXAMINING THE ADDITIONAL EVIDENCE AND THE RECONCILI ATION STATEMENT, THE ASSESSING OFFICER HAS NOT FOUND ANY FLAW IN THE SAM E. IN THESE FACTS OF THE CASE, WE HAVE NO HESITATION IN HOLDING THAT THE RE WERE NO UNACCOUNTED RECEIPTS IN THE ACCOUNTS OF THE ASSESSE E AND NO INTERFERENCE IN THE ORDER OF THE CIT(A) IS CALLED FOR, IN DELETING THE ADDITION MADE BY THE ASSESSING OFFICER AND ACCORDIN GLY, THE GROUND OF APPEAL OF THE REVENUE IS REJECTED. CROSS OBJECTION NO.93/HYD/2010 (IN ITA NO.1086/HYD/2010 : ASSESSMENT YEAR 2005-06 5. WE HAVE HEARD THE PARTIES ON THE CROSS OBJE CTIONS FILED BY THE ASSESSEE WHICH ARE MERELY SUPPORTIVE OF THE ORD ER OF THE CIT(A). THEY ARE ACCORDINGLY REJECTED, BEING INFRUCTUOUS. 6. IN THE RESULT, APPEAL OF THE REVENUE AS WELL A S THE CROSS- OBJECTIONS OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE COURT ON 27.5.2011 SD/- SD/- (AKBER BASHA) (G.C.GUPTA) ACCOUNTANT MEMBER VICE PRESIDENT DT/- 27 TH MAY, 2011 ITA NO.1086/HYD/2010 & C.O. NO.93/HYD/2010 M/S. LALITHA ENGINEERING PVT. LTD., HYD ERABAD 4 COPY FORWARDED TO: 1. M/S. LALITHA ENGINEERING PVT. LTD., 5 - 2 - 413/414/415, FLAT NO.101, DACHA MANSION, SECUNDERABAD. 2. DY. COMMISSIONER OF INCOME-TAX, CIRCLE 16(1), H YDERABAD 3. COMMISSIONER OF INCOME - TAX(APPEALS) V, HYDERABAD . 4. COMMISSIONER OF INCOME - TAX IV, HYDERABAD 5. THE DEPARTMENTAL REPRESENTATIVE, ITAT, HYDERABAD . B.V.S