Indukuri Vara Prasad Raju , Hyderabad V. Income Tax Officer, Ward-11(3), Hyderabad

ITA 1564/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3400 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 7 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB-B
• Assessment Year: 2011-2012
• Appeal Filed On: 23-10-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: B SHANTHI KUMAR
• Keywords: Unexplained cash credit; Additional evidence
• Section: 143(3); 201; 73; 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES : BENCH B HYDERABAD (THROUGH VIDEO CONFERENCE ) BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER I.T.A. NO. 1564 /HYD./201 9 ASSESSMENT YEAR : 201 1 - 12 SHRI INDUKURI VARA PRASAD RAJU VS. ITO, WARD - 1 1 (3) HYDERABAD HYDERABAD [PAN: AAFHV9455B ] (APPELLANT) (RESPONDENT) FOR ASSESSEE: SHRI B. SHANTHI KUMAR, ADV. FOR REVENUE: SHRI ROHIT MUJUMDAR , CIT, D.R. DATE OF HEARING : 07/04/2021 DATE OF PRONOUNCEMENT : 11 /06/2021 O R D E R PER S.S. GODARA, J.M. THIS ASESSEES APPEAL FOR AY 201 1 - 12 ARISES FROM CIT(A) - 1 HYDERABADS ORDER DATED 2 3082019 PASSED IN CASE NO. 73 /201 4 - 15 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 FOR SHORT THE ACT. ITA NO 1564 /HYD/1 9 AAY: 201 1 - 12 SRI INDUKURI VARA PRASAD RAJU, HYD 2 HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. LEARNED COUNSEL SUBMITS AT THE OUTSET THAT ASSESSEE NO MORE WISHES TO PRESS IT'S FORMER SUBSTANTIVE GRIEVANCE SEEK TO REVERSE 8% ESTIMATED ADDITION OF RS. 2,71,601/ - IN TRANSPORTATION BUSINESS KEEPING IN MIND SMALLNESS THEREOF. THIS GROUND IS R EJECT ED ACCORDINGLY. 3. NEXT COMES SEC. 68 SUNDRY CREDITORS AMOUNT ADDITION OF RS.1,19,01,037/ - MADE AS UNEXPLAINED CASH CREDITS U/S 68 OF THE ACT MADE IN BOTH LOWER PROCEEDINGS , S UFFICE TO SAY, WE DEEM IT PROPER THAT THE ASSESSEE HAS FILED HIS ADDITIONAL EVIDENCE/ SUBMISSIONS BEFORE THE CIT(A). HE FORWARDED THE SAME TO THE ASSESSING OFFICER FOR A REMAND REPORT DATED 5.4.2019 (PARA 7.4, PAGES 7 & 8) THAT THE ABOVE SUNDRY CRED ITORS APPEAR TO BE GENUINE. THE SAME SEALS THE OUTCOME AS PER CIT VS. D M PURNESH (2020) 426 ITR 169 (KAR.) (HC) AND SMT. B JAYA LAKSHMI VS. ACIT (201 8 ) 96 TAXMANN .COM 486 (MADRAS) THAT THE R EVENUE CANNOT BE HELD AS AN AGGRIEVED PARTY IN CASE THE ASSE SSING O FFICERS FAVOURABLE REM A ND REPORT BEFORE THE CIT(A). WE ADOPT THE VERY REASONING MUTATIS MUTANDIS AND DELETE THE IMPUGNED ADDITION FOR THIS PRECISE REASON ALONE. NECESSARY COMPUTATION SHALL FOLLOW AS PER LAW. THIS ASSESSEES APPEAL IS PARTLY AL LOWED IN ABOVE TERMS. PRONOUNCED IN OPEN COURT ON 11 TH JUNE, 2021. SD/ - SD/ - (L.P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICI AL MEMBER DATED: THE 11 TH JUNE, 2021. * GMV ITA NO 1564 /HYD/1 9 AAY: 201 1 - 12 SRI INDUKURI VARA PRASAD RAJU, HYD 3 COPY OF THE ORDER FORWARDED TO: 1. SRI INDUKURI VARA PRASAD RAJU, FLAT NO.103, RAGA MANOR APARTMENTS, JAYA BGHARAT NAGAR, HYDERABAD 500 084 . 2. ITO, WARD - 11(3), HYDERABAD . 3. ACIT, RANGE 11, HYDERABAD. 4. CIT(A) - 1, HYDERABAD 5. PR.CIT - 5 , HYDERABAD 6 . DR, ITAT, HYDERABAD. 7 . GUARD FILE.