ITO, Ward-8(2), Hyderabad V. Shri K. Narotham Reddy, R.R.Dist

ITA 1126/HYD/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 66432 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-11-2012
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 27-07-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: M H NAIK
• Assessee Lawyers: B SHANTI KUMAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER I.T.A. NO. 1126/HYD/2012 ASSESSMENT YEAR 2008-09 INCOME TAX OFFICER WARD-8(2) HYDERABAD V. SRI K. NAROTHAM REDDY PEDDAMANGALARAM VILLAGE, R.R. DISTRICT, A.P. PAN: AHOP5605L APPELLANT RESPONDENT APPELLANT BY: SRI M.H. NAIK RESPONDENT BY: SRI B. SHANTI KUMAR DATE OF HEARING: 07.11.2012 DATE OF PRONOUNCEMENT: 07.11.2012 O R D E R PER CHANDRA POOJARI, AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE CIT(A)-III, HYDERABAD DATED 24 TH MAY 2012 FOR A.Y. 2008-09. 2. THE GRIEVANCE OF THE REVENUE IN THIS APPEAL IS WITH REGARD TO THE DIRECTION OF THE CIT(A) TO RESTRICT THE ADDITION MA DE BY THE ASSESSING OFFICER AT 3% ON THE SALES AGAINST 5% ON SALES MADE BY THE ASSESSING OFFICER. 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL ON RECORD. IN OUR OPINION SIMILAR ISSUE CAME FOR CONS IDERATION BEFORE THIS TRIBUNAL IN THE CASE OF ITO VS. M/S. PITTALA YAKAIA H, NALGONDA & ORS., IN ITA NO. 2191/HYD/2011 & ORS., ORDER DATED 13 TH APRIL, 2012, WHEREIN THE TRIBUNAL HELD THAT INCOME OF THE ASSESSEE IN TH IS LINE OF BUSINESS HAS TO BE ESTIMATED AT 5% OF SALES MADE BY THE ASSE SSEE. ACCORDINGLY, WE DIRECT THE ASSESSING OFFICER TO ESTIMATE THE INC OME AT 5% OF SALES MADE BY THE ASSESSEE AS INCOME FOR THIS ASSESSEE AL SO. 4. IN THE RESULT, APPEAL OF THE REVENUE IS PARTLY ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 7 TH NOVEMBER, 2012. SD/ - ( ASHA VIJAYARAGHAVAN ) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED 7 TH NOVEMBER, 2012 I.T.A. NO. 1126/HYD/2012 SRI K. NARATHOM REDDY ==================== 2 TPRAO COPY FORWARDED TO: 1. THE INCOME TAX OFFICER, WARD - 8(2), 8 TH FLOOR, D - BLOCK, IT TOWERS, HYDERABAD. 2. SRI K . NAROTHAM REDDY, PROP. RAGHAVENDRA WINES, 4 - 30, PEDDAMANGALARAM VILLAGE, MOINABAD MANDAL, R.R. DIST RICT. 3. THE CIT(A) - III, HYDERABAD. 4. THE CIT - II, HYDERABAD. 5. THE DR A BENCH, ITAT, HYDERABAD