Income Tax Officer, Suryapet V. Sri Mannem Venkat Reddy, Nalgonda District

ITA 1144/HYD/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 66457 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-11-2012
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 31-07-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: VIDISHA KALRA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER I.T.A. NO. 1144/HYD/2012 ASSESSMENT YEAR 2007-08 I.T.A. NO. 1145/HYD/2012 ASSESSMENT YEAR 2008-09 THE INCOME TAX OFFICER SURYAPET VS. SRI MANNEM VENKAT REDDY CHOTUPPAL PAN: AGPPM2325M APPELLANT RESPONDENT I.T.A. NO. 1146/HYD/2012 ASSESSMENT YEAR 2008-09 THE INCOME TAX OFFICER SURYAPET VS. SRI THIGALA KISHAN CHOTUPPAL PAN: AFBPT2474H APPELLANT RESPONDENT APPELLANT BY: SMT. VIDISHA KALRA RESPONDENT BY: NONE DATE OF HEARING: 06 . 11 .2012 DATE OF PRONOUNCEMENT: 06 . 11 .2012 O R D E R PER CHANDRA POOJARI, AM: THE ABOVE THREE APPEALS BY THE REVENUE ARE DIRECTE D AGAINST DIFFERENT ORDERS OF CIT(A)-VI, HYDERABAD DATED 25.5 .2012 IN RESPECT OF DIFFERENT ASSESSEES FOR ASSESSMENT YEARS 2007-08 AN D 2008-09. SINCE THE ISSUE IN THESE APPEALS IS COMMON IN NATURE, ALL THESE APPEALS ARE CLUBBED AND HEARD TOGETHER AND ARE BEING DISPOSED O F BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 2. THE REVENUE RAISED THE GROUND THAT THE CIT(A) ERRED IN ESTIMATING THE NET PROFIT AT 3% OF THE PURCHASES OR STOCK PUT FOR SALE AS AGAINST THE ESTIMATION OF THE INCOME BY THE ASSESSI NG OFFICER AT 27% OF PURCHASES MADE BY THE ASSESSEES. I.T.A. NOS. 1144-1146/HYD/2012 SRI MANNEM VENKAT REDDY & ANR. =========================== 2 3. WE HAVE HEARD THE LEARNED DR. NONE APPEARED FOR THE ASSESSEES. IN OUR OPINION SIMILAR ISSUE CAME FOR CONSIDERATION BEFORE THIS TRIBUNAL IN THE CASE OF ITO VS. M/S. PITTALA YAKAIAH, NALGON DA & ORS., IN ITA NO. 2191/HYD/2011 & ORS., ORDER DATED 13 TH APRIL, 2012, WHEREIN THE TRIBUNAL HELD THAT INCOME OF THE ASSESSEE IN THIS L INE OF BUSINESS HAS TO BE ESTIMATED AT 5% OF SALES MADE BY THE ASSESSEES. ACCORDINGLY, WE DIRECT THE ASSESSING OFFICER TO ESTIMATE THE INCOME AT 5% OF SALES MADE BY THE ASSESSEES AS INCOME FOR THESE ASSESSEES ALSO . 4. IN THE RESULT, APPEALS OF THE REVENUE ARE PARTLY AL LOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 6 TH NOVEMBER, 2012. SD/ - (SAKTIJIT DEY) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED 6 TH NOVEMBER, 2012 TPRAO COPY FORWARDED TO: 1. THE INCOME TAX OFFICER, KRISHNANAGAR COLONY, OPP. H I TECH BUS STAND, SURYAPET-508 213. 2. SRI MANNEM VENKAT REDDY, S/O. LACHI REDDY, PROP. M/ S. DEEPATHI WINES, D. NO. 3-381, CHOTUPPAL-508 252. 3. SRI THIGA LA KISHAN, S/O. KSHIAH, PROP. M/S. BALAJI WINES, CHOTUPPAL-508 252 4 . THE CIT(A) - VI, HYDERABAD. 5 . THE CIT - VI, HYDERABAD. 6 . THE DR B BENCH, ITAT, HYDERABAD