Income Tax Officer, Ward-1, Nalgonda V. Smt. Nookala Sunitha, Nalgonda District

ITA 1212/HYD/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 66466 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-11-2012
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 08-08-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: R LAXMAN
• Assessee Lawyers: S RAMA RAO

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER ITA NO. 1212/HYD/2012 A.Y. 2007-08 THE INCOME TAX OFFICER WARD-1 NALGONDA VS. M/S. SAI PRATHIMA WINES NAGARJUNA SAGAR PAN: AAZFS9568G APPELLANT RESPONDENT ITA NO. 1213/HYD/2012 A.Y. 2009-10 THE INCOME TAX OFFICER WARD-1 NALGONDA VS. SMT. NOOKALA SUNITHA PROP. SAI PRATHIMA WINES, NAGARJUNA SAGAR PAN: CADPS9513H APPELLANT RESPONDENT APPELLANT BY: SRI R. LAXMAN RESPONDENT BY: SRI S. RAMA RAO DATE OF HEARING: 15.11.2012 DATE OF PRONOUNCEMENT: 15.11.2012 O R D E R PER CHANDRA POOJARI, AM: THE ABOVE TWO APPEALS BY THE REVENUE ARE DIRECTED AGAINST THE DIFFERENT ORDERS OF THE CIT(A)-VI, HYDERABAD DATED 25.05.2012 FOR ASSESSMENT YEARS 2007-08 AND 2009-10. SINCE THE IS SUE INVOLVED IN THESE APPEALS IS COMMON IN NATURE, THEY ARE CLUBBED TOGET HER, HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS COMMON ORDER, FOR THE SAKE OF CONVENIENCE. 2. THE DISPUTE IN THESE APPEALS IS WITH REGARD TO THE DIRECTION OF THE CIT(A) TO ESTIMATE INCOME OF THE ASSESSEES AT 3% A S AGAINST 27% OF THE STOCK PUT TO SALE BY THE ASSESSING OFFICER. IT IS NEEDLESS TO SAY THAT THERE IS NO DISPUTE REGARDING THE SALES FIGURE DETERMINED BY THE ASSESSING OFFICER. 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MAT ERIAL ON RECORD. IN OUR OPINION SIMILAR ISSUE CAME FOR CONS IDERATION BEFORE THIS ITA NOS. 1212 & 1213/HYD/2012 M/S. SAI PRATHIMA WINES & ANR. ======================== 2 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 ASSESSEES IN THIS LINE OF BUSINESS HAS TO BE ESTIMATED AT 5% OF SALES MADE BY THEM. ACCORDIN GLY, WE DIRECT THE ASSESSING OFFICER TO ESTIMATE THE INCOME AT 5% OF S ALES 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 15 TH NOVEMBER, 2012. SD/ - (ASHA VIJAYARAGHAVAN) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED 15 TH NOVEMBER, 2012 TPRAO COPY FORWARDED TO: 1. THE INCOME TAX OFFICER, WARD - 1, NEAR R AI LWAY U NDER BRIDGE, HYDERABAD ROAD, MARRIGUDA POST, NALGONDA-508 001. 2. M/S. SAI PRATHIMA WINES, HILL COLONY, NAGARJUNA SAG AR, NALGONDA DISTRICT. 3. SMT. NOOKALA SUNITHA, PROP. M/S. SAI PRATHIMA WINES , HILL COLONY, NAGARJUNA SAGAR, NALGONDA DISTRICT. 4 . THE CIT(A) - VI, HYDERABAD. 5 . THE CIT - VI, HYDERABAD. 6. THE DR B BENCH ITAT, HYDERABAD.