Ramesh Singh , Hyderabad V. Income Tax Officer, Ward-7(2), Hyderabad

ITA 1852/Hyd/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9522 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 6 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-03-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 17-02-2021
• Assessment Year: 2016-2017
• Appeal Filed On: 11-09-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Business income

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. 1852/HYD/2018 ASSESSMENT YEAR: 2013-14 SRI RAMESH SINGH, HYDERABAD [PAN: AHQPR7378P] VS INCOME TAX OFFICER, WARD-7(2), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI S.RAMA RAO, AR FOR REVENUE : SHRI ROHIT MUJUMDAR, DR DATE OF HEARING : 17-02-2021 DATE OF PRONOUNCEMENT : 18-03-2021 O R D E R PER S.S.GODARA, J.M. : THIS ASSESSEES APPEAL FOR AY.2013-14 ARISES FROM TH E CIT(A)-3, HYDERABADS ORDER DATED 21-06-2018 PASSED IN APPEAL NO.0168 / ITO-7(2) / HYD / CIT(A)-3 /2016-17 IN PROCEEDINGS U/S.143(3) OF THE INCOME TAX ACT, 1961 [I N SHORT, THE ACT]. HEARD BOTH PARTIES. CASE FILE PERUSED. 2. IT TRANSPIRES DURING THE COURSE OF HEARING THAT THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CHALLENGES COR RECTNESS OF ITA NO. 1852/HYD/2018 :- 2 -: BOTH THE LOWER AUTHORITIES ACTION ESTIMATING @5% GP ON THE TOTAL SALES IN WINE SHOP BUSINESS. 3. MR.RAMA RAO VEHEMENTLY CONTENDED DURING THE COURSE OF HEARING THAT THE INSTANT ISSUE IS NO MORE RESJUDICATA, A S TRIBUNALS CO-ORDINATE BENCHS AND HON'BLE JURISDICTIO NAL HIGH COURT HAVE BEEN DIRECTING SUCH AN ESTIMATION @3% IN RETA IL LIQUOR SALE BUSINESS. 4. WE FIND NO FORCE IN ASSESSEES FOREGOING CONTENTIO NS PER SE. HON'BLE JURISDICTIONAL HIGH COURTS IN CIT VS. BR CONSTRUCTIONS (1993) [202 ITR 222] (AP) (FB) HELD LON G BACK THAT ONLY A JUDICIAL DECISION DISCUSSING THE RELEVANT S TATUTORY PROVISIONS IN THE LIGHT OF THE CORRESPONDING FACTS FRO M A VALID PRECEDENT AND NOT OTHERWISE. MR.RAO FAILS TO REBUT THE CLINCHING FACT THAT SUCH AN ESTIMATION IS BASED ON A P ECULIAR FACTS OF THE CASE THAN DISCUSSING AT LENGTH THE ENTIRE F ACTUAL MATRIX IN THE LIGHT OF THE CORRESPONDING STATUTORY PROVIS IONS DOES NOT CARRY ANY PRECEDENT. THE REVENUE ALSO FAILS TO DISPUTE THAT NEITHER OF THE LOWER AUTHORITIES HAVE TAKEN INTO CONSIDERATION ANY COMPARABLE INSTANCE FOR THE PURPOSE OF ARRIVING AT THE IMPUGNED ESTIMATION. WE DEEM IT APPROPR IATE IN THESE PECULIAR FACTS THAT A 4.5% ESTIMATION OF INCOME HE REIN WOULD BE JUST AND PROPER WITH THE RIDER THAT THE SAME SH ALL NOT BE TREATED AS A PRECEDENT. THE ASSESSEE PARTLY SUCCEEDS IN HIS FORMER SUBSTANTIVE GRIEVANCE. 5. LEARNED COUNSEL FOR THE ASSESSEE IS VERY FAIR THAT THE ASSESSEE NO MORE WISHES TO PRESS FOR HIS SECOND SUBS TANTIVE ITA NO. 1852/HYD/2018 :- 3 -: GROUND CHALLENGES CORRECTNESS INCOME FROM OTHER SOURC ES ADDITION OF RS.94,670/- KEEPING IN MIND THE SMALLNESS OF THE AMOUNT. ORDERED ACCORDINGLY. 6. THIS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH MARCH, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 18-03-2021 TNMM ITA NO. 1852/HYD/2018 :- 4 -: COPY TO : 1.SRI RAMESH SINGH, 13-2-270/A/4, BESIDE BABA BALAK DAS MUTTA, DHOOLPET, HYDERABAD. 2.THE INCOME TAX OFFICER, WARD-7(2), HYDERABAD. 3.CIT(APPEALS)-3, HYDERABAD. 4.PR.CIT-3, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.