Income Tax Officer, Ward-1, Nalgonda V. Sri Venkat Reddy M, Nalgonda District

ITA 1287/HYD/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 66519 (ITAT-HYDERABAD)
• Duration Of Justice: 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2012
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 30-08-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: VIDISHA KALRA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITANOS. ASST. YEARS APPELLANT RESPONDENT 1275 &1276/H/12 2007-08 &2008-09 ITO, WARD-1, NALGONDA. SRI INDRASENA REDDY PROP. LAXMIWINES, NALGONDA. PAN:AAMPI9281R 1277/HYD/12 2008-09 -DO- SRI VENKAT REDDY, NALGONDA. PAN: ARZPK8538M 1278/HYD/12 -DO- -DO- SRI K. SRINIVASPROP. KANAKA DURGA WINES, NALGONDA. PAN:BBSPS2426L 1279/HYD/12 -DO- -DO- SRI SATYANARAYANA SUNDARI,PROP. VENKATA SAI WINES, NALGONDA. 1280/HYD/12 -DO- -DO- M/S. SRI SUDHA WINES, NALGONDA. PAN:ABFFS8045M 1281/HYD/12 2007-08 -DO- SRI SEETHARAM BABU G.PROP. MADHURI WINES, NALGONDA. PAN:AJSHGS6254N 1282 &1283/H/12 2007-08 &2008-09 -DO- M/S. LAXMI WIN ES, NALGONDA. PAN:AACFL7174J 1284 &1285/H/12 -DO- -DO- SRI SURENDER KUMAR,K, PROP. MALLIKHARJUNA WINES, NALGONDA PAN:AZFPS2579C 1286 &1287/H/12 -DO- -DO- SRI VENKAT REDDY,PROP. URVASHI WINES, NALGONDA PAN : AZFPS2579C APPELLANT BY : SMT. VIDISHA KALRA (DR) RESPONDENTS BY : NONE 2 ITA NOS.1282,1283 OF 2012AND OTHERS, NALGONDA M/S. LAXMI WINES, NALGONDA & OTHGERS. DATE OF HEARING : 27-11-2012 DATE OF PRONOUNCEMENT : 27 -1 1-2012 ORDER PER BENCH: ALL THE ABOVE APPEALS BY THE REVENUE ARE DIRECTE D AGAINST DIFFERENT ORDERS OF THE CIT (A), HYDERABAD FOR THE ASSESSMENT YEARS 2007-08 AND 2008-09. SINCE THE ISSUE INVOLVED IN A LL THESE APPEALS IS COMMON IN NATURE, THEY ARE CLUBBED TOGETHER, HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS COMBINED ORDER, FOR THE S AKE OF CONVENIENCE. 2. THE DISPUTE IN THESE APPEALS IS WITH REGARD TO T HE DIRECTION OF THE CIT (A) TO ESTIMATE INCOME OF ASSESSES AT 3% AS AGAINST 27 % OF THE STOCK PUT TO SALE BY THE AO. IT IS NEEDLESS TO SAY THAT THERE IS NO D ISPUTE REGARDING THE SALES FIGURE DETERMINED BY THE ASSESSING OFFICER AND THE S ALES TO BE CONSIDERED AS SAME FIGURE. 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE M ATERIAL ON RECORD. IN OUR OPINION, SIMILAR ISSUE CAME FOR CONSIDERATION B EFORE THIS TRIBUNAL IN THE CASE OF ITO VS. M/S PITTALA YAKAIAH, NALGONDA & ORS., IN ITA NO.2191/HYD/2011 AND OTHERS, ORDER DATED 13 TH APRIL, 2012, WHEREIN THE TRIBUNAL HELD THAT INCOME OF THE ASSESSES IN THIS LINE OF BUSINESS HAS TO BE EST IMATED AT 5% OF SALES MADE BY THE ASSESSES. ACCORDINGLY, WE DIRECT THE AO TO ESTIMA TE THE INCOME AT 5% OF SALES MADE BY THE ASSESSES AS INCOME FOR THESE ASSE SSEES ALSO. 4. IN THE RESULT, ALL THE APPEALS OF THE REVENUE AR E PARTLY ALLOWED. ORDER PRONOUNCED IN THE COURT ON 27 -11-2012. SD/- (SAKTIJIT DEY) JUDICIAL MEMBER SD/- (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED THE 27 TH NOVEMBER, 2012. 3 ITA NOS.1282,1283 OF 2012AND OTHERS, NALGONDA M/S. LAXMI WINES, NALGONDA & OTHGERS. COPY TO:- 1) ITO, WARD-1, NALGONDA. 2) ALL ASSESSEE-RESPONDENTS AS MENTIONED IN THE CAU SE TITLE ( EIGHT DIFFERENT ASSESSES) 3. CIT (A)-VI, HYDERABAD. THE CIT CONCERNED, HYDERABAD 4) THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABA D. JMR*