Income Tax Officer, Ward-7(4), Hyderabad V. Sri Manjit Singh Bagga, Hyderabad

ITA 1291/HYD/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 66574 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-12-2012
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 31-08-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITANOS. ASST. YEARS APPELLANT RESPONDENT 1291/H/12 2009-10 ITO, WARD-7(4), HYDERABAD. SRI MANJIT SINGH BAGGA,HYDERABAD. PAN:ABYPB1636L 1300/HYD/12 -DO- ITO, WARD-9(1), HYDERABAD. SRI POLSANI SAMPATH RAO, HYDERABAD. PAN: AHGPP9347Q APPELLANT BY : SHRI M.H. NAIK (DR) RESPONDENTS BY : NONE DATE OF HEARING : 17-12-2012 DATE OF PRONOUNCEMENT: 17-1 2-2012 ORDER PER BENCH: BOTH THESE APPEALS BY THE REVENUE ARE DIRECTED A GAINST SEPARATE ORDERS OF THE CIT (A)-VI, HYDERABAD FOR THE ASSESSM ENT YEARS 2009-10. SINCE THE ISSUE INVOLVED IN THESE APPEALS IS COMMON IN NATURE, THEY ARE CLUBBED TOGETHER, HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS COMBINED ORDER, FOR THE SAKE 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 THE LD. DEPARTMENTAL REPRESENTATIV E AND PERUSED THE MATERIAL ON RECORD. IN OUR OPINION, SIMILAR ISSUE CAME FOR CONSIDERATION BEFORE THIS TRIBUNAL IN THE CASE OF ITO VS. M/S PITTALA YA KAIAH, NALGONDA & ORS., IN ITA 2 ITA NOS.1291 AND 1300 OF 2012 SRI MANJIT SINGH BAGGA & OTHERS, HYD. NO.2191/HYD/2011 AND OTHERS, ORDER DATED 13 TH APRIL, 2012, WHEREIN THE TRIBUNAL HELD THAT INCOME OF THE ASSESSES IN THIS L INE OF BUSINESS HAS TO BE ESTIMATED AT 5% OF SALES MADE BY THE ASSESSES. ACCOR DINGLY, WE DIRECT THE AO TO ESTIMATE THE INCOME AT 5% OF SALES MADE BY THE ASSE SSEES AS INCOME FOR THESE ASSESSEES ALSO. 4. IN THE RESULT, ALL THE APPEALS OF THE REVENUE AR E PARTLY ALLOWED. ORDER PRONOUNCED IN THE COURT ON 17-12-2012. SD/- (CHANDRA POOJARI) ACCOUNTANT MEMBER SD/- (SAKTIJIT DEY) JUDICIAL MEMBER HYDERABAD, DATED THE 17 TH DECEMBER, 2012. COPY TO:- 1) ITO, WARD-7(4), 1 ST FLOOR, B-=BLOCK, IT TOWERS, AC GUARDS, HYDERABAD. 2) SRI MANJIT SINGH BAGGA, PROP. GURMEET WINES, GOW LIGUDA, HYDERABAD-500 012. 3)SRI POLSANI SAMPATH RAO, 16-2-905/2, MALAKPET, HYDERABAD. 4. CIT (A)-VI, HYDERABAD. 5.THE CIT CONCERNED, HYDERABAD 6. THE DEPARTMENTAL REPRESENTATIVE, I.T.A.T., HYDERABA D. JMR* 3 ITA NOS.1291 AND 1300 OF 2012 SRI MANJIT SINGH BAGGA & OTHERS, HYD.