Kondal Rao Kadaru , Nalgonda V. Asst. Commissioner of Income Tax, Circle-7(1), Hyderabad

ITA 1285/Hyd/2019

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 0759 (ITAT-HYDERABAD)
• Duration Of Justice: 4 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-12-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2016-2017
• Appeal Filed On: 14-08-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R.S. ARVINDAKSHAN
• Section: 143(3); 133(6); 143(1); 44AB; 43; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B - SMC, HYDERABAD BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO.1285/HYD/2019 ASSESSMENT YEAR: 2016 - 17 KONDAL RAO KADARU, 3 - 247/5/14/B, NAYA NAGAR, KODAD, NALGONDA - 508206. PAN: BQJPK 0216 Q VS. ASST. COMMISSIONER OF INCOME TAX, CIRC LE - 7(1), SIGNATURE TOWERS, SY. NO.6(P) OF KONDAPUR. SY. NO.37(P) OF KOTHAGUDA, OPP. BOTANICAL GARDENS, SERILINGAMPALLY, RR DIST, HYDERABAD, TELANGANA - 50004. (APPELLANT) (RESPONDENT) ASSESSEE BY: NONE REVENUE BY: SRI R.S. ARVINDAKSHAN, DR DATE OF HEARING: 18/10/2019 DATE OF PRONOUNCEMENT: 20 / 12 /2019 ORDER THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 3, HYDERABAD IN APPEAL NO. 10254/ACIT - 7(1)/CIT(A) - 3/2018 - 19, DATED 24/05/2019 PASSED U/S. 143(3) R.W.S 250(6) OF THE ACT FOR THE A.Y. 2016 - 17. 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS IN HIS APPEAL: - 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE ORDER OF THE LD. CIT(A) - 3, HYDERABAD IS ERRONEOUS AND BAD IN LAW. 2 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) ERRED IN UPHOLDING THE ACTION OF THE A.O. IN ESTIMATING THE INCOM E OF THE ASSESSEE WHEN THE ACCOUNTS HAVE BEEN AUDITED U/S. 44AB OF THE ACT. 3. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE LD. CIT(A) ERRED IN UPHOLDING THE ORDER OF THE LD. A.O. IN ESTIMATING THE INCOME FROM WINE SHOP AT RS. 27,54,030/ - @ 5% OF THE COST OF GOODS. 4. THE APPELLANT CRAVES LEAVE TO ALTER, AMEND OR DELETE ANY OF THE ABOVE GROUNDS OF APPEAL AND / OR TO AD ANY FRESH GROUNDS OF APPEAL AT OR BEFORE THE HEARING OF THE APPEAL. 3. BR IEF FACT S OF THE CASE ARE THAT THE ASSESSEE IS AN INDIVIDUAL ENGAGED IN THE BUSINESS OF RETAIL SALE OF LIQUOR & WINES IN THE NAME AND STYLE OF M/S. SRI SAI WINES, FILED HIS RETURN OF INCOME OF THE AY 2016 - 17 ON 9/1/2017 DECLARING TOTAL INCOME OF RS. 16,21,713/ - . INITIALLY THE RETURN WAS PROCESSED U/S. 143(1) OF THE ACT AND SUBSEQUENTLY , THE CASE WAS SELECT ED FOR SCRU TINY AND FINALLY ASSESSMENT ORDER U/S. 1 43 (3) OF THE ACT ESTIMATING THE INCOME OF THE ASSESSEE AT 5% OF THE TURNOVER AS AGAINST 2. 8 6% DECLAR ED BY THE ASSESSEE. T HE LD. AO ARRIVED AT SUCH DECISION TAKING INTO CONSIDERATION OF THE REGULAR AMOUNT DEPOSITED IN THE SB AC COUNT OF THE ASSESSEE WH ICH WAS MADE A VAILABLE IN RESP ONSE TO NOTICE ISSUE D U/S. 133(6) OF THE ACT. WHEN THE MATTER CROPPED UP BEFORE THE LD. CIT (A ) NO NE APPEARED BEFORE HIM TO PURSUE THE APPEAL. T HEREFORE, THE LD. CIT (A) BASED ON THE MATERIALS O N RECORD AND THE DECISIONS OF THE TRIBUNAL ON SIMILAR MATTER CONFIRMED THE ORDER OF THE LD. AO ON MERITS. 3 4 . A T THE TIME OF HEAR ING BEFORE US ALSO NEITHER THE ASSESSEE NOR HIS COUNSEL APPEARED. ON PE RUSING THE ORDER OF THE LD. CIT (A) WE FIND THAT HE HAS DISPOSED OFF THE MATTER ON MERITS AND BY RELYING ON THE DECISION OF THE HYDERABAD BENCH ES OF THE TRIBUNAL ON SIMILAR MATTERS. THEREF ORE, I WILL NOT FIND IT NECESSARY TO INTERFERE IN THE ORDER OF THE LD. CIT (A). 5. IN THE RESULT, AP PEAL OF THE ASSESSE E IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 20 TH DECEMBER , 2019. SD/ - ( A. MOHAN ALANKAMONY ) ACCOUNTANT MEMBER HYDERABAD, DATED: 20 TH DECEMBER , 2019 OKK COPY TO: - 1) KONDAL RAO KADARU, 3 - 247/5/14/B, NAYA NAGAR, KODAD , NALGONDA - 508206. 2) ASST. COMMISSIONER OF INCOME TAX, CI RCLE 7(1), SIGNATURE TOWERS, SY. NO.6(P) OF KONDAPUR. SY. NO.37(P) OF KOTHAGUDA, OPP. BOTANICAL GARDENS, SERILINGAMPALLY, RR DIST, HYDERABAD, TELANGANA - 50004. 3) THE CIT(A) - 3 , HYDERABAD 4) THE PR. CIT - 3 , HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE