M/s Harika Estates Pvt Ltd, Hyderabad V. ACIT,Central Circle-3, Hyderabad

ITA 1089/HYD/2014

• Counselvise Citation: 108922514 RSA 2014
• Duration Of Justice: 1 year(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-06-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 04-06-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 30-05-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

I N T H E I N C O M E T A X A P P E L L A T E T R I B U N A L B E F O R E S H R I D . M A N M O H A N , V I C E P R E S I D E N T I T A N O . 1 1 1 3 / H Y D / 1 4 : A S S E S S M E N T Y E A R 2 0 0 6 - 0 7 ( P A N A A E F M 1 4 1 5 B ) I T A N O . 1 0 8 9 / H Y D / 1 4 : A S S E S S M E N T Y E A R 2 0 0 7 - 0 8 ( P A N A A E F H 3 9 7 4 Q ) O R D E R H Y D E R A B A D B E N C H B ' ( S M C ) , H Y D E R A B A D M / S . M U S A D D I L A L S O N S J E W E L L E R S , H Y D E R A B A D V / S . A S S T T . C O M M I S S I O N E R O F I N C O M E - T A X C E N T R A L C I R C L E 3 , H Y D E R A B A D . ( A P P E L L A N T ) ( R E S P O N D E N T ) M / S . H A R I K A E S T A T E S P V T . L T D . , H Y D E R A B A D V / S . A S S T T . C O M M I S S I O N E R O F I N C O M E - T A X C E N T R A L C I R C L E 3 , H Y D E R A B A D . ( A P P E L L A N T ) ( R E S P O N D E N T ) A P P E L L A N T S D A T E O F H E A R I N G 0 4 . 0 6 . 2 0 1 5 D A T E O F P R O N O U N C E M E N T 0 4 . 0 6 . 2 0 1 5 T H E S E T W O A P P E A L S B Y T H E A S S E S S E E S A R E D I R E C T E D A G A I N S T T H E O R D E R S P A S S E D B Y T H E C O M M I S S I O N E R O F I N C O M E - T A X ( C E N T R A L ) H Y D E R A B A D , B O T H D A T E D 2 8 . 3 . 2 0 1 4 , U N D E R S . 2 6 3 O F T H E I N C O M E T A X A C T , 1 9 6 1 . 2 . A T T H E T I M E O F H E A R I N G , T H E L E A R N E D C O U N S E L F O R T H E A S S E S S E E S S U B M I T T E D T H A T C O N S E Q U E N T U P O N T H E O R D E R S P A S S E D B Y T H E R E V I S I O N A L A U T H O R I T Y , T H E A S S E S S I N G O F F I C E R C O M P L E T E D T H E A S S E S S M E N T S , W H E R E I N T H E A S S E S S E E S O B T A I N E D S U B S T A N T I A L R E L I E F S ; T H E R E F O R E , T H E A S S E S S E E S A R E N O T I N T E R E S T E D I N P U R S U I N G T H E A P P E A L S F I L E D A G A I N S T T H E O R D E R S U N D E R S . 2 6 3 O F T H E A C T . I N S H O R T , T H E A S S E S S E E S S E E K P E R M I S S I O N T O W I T H D R A W T H E A P P E A L S F I L E D B E F O R E T H E B Y S H R I P . M U R A L I M O H A N R A O R E S P O N D E N T B Y : S H R I D . S U D H A K A R R A O : I T A N O . 1 1 1 3 & 1 0 8 9 / H Y D / 2 0 1 4 M / S . M U S A D D I L A L S O N S J E W E L L E R S & A N R H Y D E R A B A D ( D . M A N M O H A N ) V I C E P R E S I D E N T D T / - 4 T H J U N E , 2 0 1 5 2 A P P E L L A T E T R I B U N A L . L E A R N E D D E P A R T M E N T A L R E P R E S E N T A T I V E H A S N O O B J E C T I O N I N T H I S R E G A R D . U N D E R T H E S E C I R C U M S T A N C E S , P E R M I T T H E A S S E S S E E S T O W I T H D R A W T H E I R A P P E A L S , A N D D I S M I S S T H E A P P E A L S A S W I T H D R A W N . 3 . I N T H E R E S U L T , B O T H T H E A P P E A L S O F T H E A S S E S S E E S A R E D I S M I S S E D . O R D E R P R O N O U N C E D I N T H E C O U R T A T T H E C O N C L U S I O N O F H E A R I N G O N 4 T H J U N E , 2 0 1 5 S D / - C O P Y F O R W A R D E D T O : 1 . M / S . M U S A D D I L A L S O N S J E W E L L E R S , C / O . M / S . P . M U R A L I & C O . , C H A R T E R E D A C C O U N T A N T S , 6 - 3 - 6 7 5 5 / 2 / 3 , 1 S T F L O O R , S O M A J I G U D A , H Y D E R A B A D - 8 2 2 . 3 M / S . H A R I K A E S T A T E S P V T . L T D . , C / O . M / S . P . M U R A L I & C O . , C H A R T E R E D A C C O U N T A N T S , 6 - 3 - 6 7 5 5 / 2 / 3 , 1 S T F L O O R , S O M A J I G U D A , H Y D E R A B A D - 8 2 A S S T . C O M M I S S I O N E R O F I N C O M E - T A X C E N T R A L C I R C L E 3 , H Y D E R A B A D 4 . C O M M I S S I O N E R O F I N C O M E - T A X ( C E N T R A L ) , H Y D E R A B A D 5 . D E P A R T M E N T A L R E P R E S E N T A T I V E , I T A T , H Y D E R A B A D . B . V . S