Skyline & Sterling Theatres., Hyderabad V. Asst. Commissioner of Income Tax, Circle-4(1)., Hyderabad

ITA 1247/Hyd/2017

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8442 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 1 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 12-07-2021
• Assessment Year: 2013-2014
• Appeal Filed On: 18-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: A V RAGHURAM
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NO. 1247/HYD/2017 ASSESSMENT YEAR: 2013-14 M/S.SKYLINE & STERLING THEATRES, HYDERABAD [PAN: AAVFS0421Q] VS ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI A.V.RAGHURAM, AR FOR REVENUE : SHRI ROHIT MUJUMDAR, DR DATE OF HEARING : 12-07-2021 DATE OF PRONOUNCEMENT : 18-08-2021 O R D E R PER S.S.GODARA, J.M. : THIS ASSESSEES APPEAL FOR AY.2013-14 ARISES FROM TH E CIT(A)-1, HYDERABADS ORDER DATED 10-04-2017 PASSED IN CASE NO.0262/CIT(A)-1/HYD/2015-16/2016-17, IN PROCEEDING S U/S.143(3) OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. COMING TO THE SOLE ISSUE RAISED HEREIN OF CORRECTN ESS OF BOTH THE LOWER AUTHORITIES ACTION MAKING SECTION 68 UN - EXPLAINED CASH CREDITS ADDITION OF RS.19 LAKHS, WE N OTICE AT THE OUTSET WITH THE ABLE ASSISTANCE COMING FROM BOTH SIDES TH AT ALTHOUGH THE ASSESSEE HAD NOT ONLY PLACED ON RECORD THE ITA NO. 1247/HYD/2017 :- 2 -: NECESSARY BANK STATEMENT BUT ALSO CONFIRMATION OF THE CR EDITOR PARTY MR. MOHD.ASHRAFUDDIN. THE ASSESSING OFFICER AS WELL AS THE CIT(A) HAVE FOUND TECHNICAL SHORTCOMINGS THEREIN A ND MORE PARTICULARLY IN THE CREDITORS CONFIRMATION THAT THE S AME DOES NOT CONTAIN EVEN A DATE AS WELL. 3. FACED WITH THIS SITUATION, LEARNED COUNSEL UNDERTAK ES BEFORE US TO PRODUCE THE ASSESSEES CREDITOR PARTY MR. MOHD.ASHRAFUDDIN IF IT AFFORDED ONE MORE EFFECTIVE IN NINGS. WE THEREFORE PARTLY DECLINE THE REVENUES ARGUMENTS SUPPO RTING THE IMPUGNED ADDITION AND DIRECT THE ASSESSEE TO PRODUCE THE CREDITOR PARTY, MR. MOHD.ASHRAFUDDIN ON OR BEFORE 30 -11-2021 BEFORE THE ASSESSING OFFICER; AT ITS OWN RISK AND RESP ONSIBILITY, TO BE FOLLOWED BY THREE EFFECTIVE OPPORTUNITIES OF HEARI NG. ORDERED ACCORDINGLY. 4. THIS ASSESSEES APPEAL IS TREATED AS ALLOWED FOR S TATISTICAL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH AUGUST, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 18-08-2021 TNMM ITA NO. 1247/HYD/2017 :- 3 -: COPY TO : 1.M/S.SKYLINE & STERLING THEATRES, C/O. K.VASANT KU MAR, A.V.RAGHU RAM, P.VINOD & M.NEELIMA DEVI, ADVOCATES, 610, BABUKHAN ESTATE, BASHEERBAGH, HYDERABAD. 2.ASST.COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD. 3.CIT(APPEALS)-1, HYDERABAD. 4.PR.CIT-1, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.