Income Tax Officer, Ward-3(2), Hyderabad V. Ratnapriya Infrastructure Private Limited , Hyderabad

ITA 2275/Hyd/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3393 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 6 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 21-04-2021
• Assessment Year: 2015-2016
• Appeal Filed On: 06-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R. DIPAK

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NO. 2275/HYD/2018 ASSESSMENT YEAR: 2015-16 INCOME TAX OFFICER, WARD-3(2), HYDERABAD VS M/S.RATNAPRIYA INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD [PAN: AAGCR7157L] (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI R.DIPAK, DR FOR ASSESSEE : SHRI K.C.DEVDAS, AR DATE OF HEARING : 21-04-2021 DATE OF PRONOUNCEMENT : 11-06-2021 O R D E R PER S.S.GODARA, J.M. : THIS REVENUES APPEAL FOR AY.2015-16 ARISES FROM THE CIT(A)-3, HYDERABADS ORDER DATED 20-09-2018 PASSED IN APPEAL NO.0096 / ITO-3(2) / HYD / CIT(A)-3 / 2017-1 8 IN PROCEEDINGS U/S.143(3) OF THE INCOME TAX ACT, 1961 [I N SHORT, THE ACT]. HEARD BOTH PARTIES. CASE FILE PERUSED. 2. COMING TO THE REVENUES SOLE SUBSTANTIVE GROUND THAT THE CIT(A) HAS ERRED IN LAW AND ON FACTS IN DELETING S ECTION 68 ADDITION OF UN-EXPLAINED SHARE CAPITAL AMOUNTING TO ITA NO. 2275/HYD/2018 :- 2 -: RS.36,27,52,980/- MADE IN THE COURSE OF ASSESSMENT DT.30-12-2017. 3. WE NOTICE AT THE OUTSET THAT THE CIT(A)S LOWER APPELLA TE DISCUSSION HAS PRECISELY GONE BY THE ASSESSING OFFIC ERS REMAND REPORT ITSELF STATING IT VERY CLEARLY THAT HE HAD N OT FOUND ANYTHING ADVERSE IN ASSESSEES SHARE CAPITAL AS IT IS EVIDENT FROM PGS.23 AND 24 PARAS VIII TO XI. FACED WITH THIS SITUATION, WE HOLD THAT THE REVENUE CANNOT BE HELD TO BE AN AGITATED PARTY HAVING ANY LOCUS STANDI TO EVOKE SECOND APPELLATE JURISDICTION U/S.254(1) OF THE ACT IN VIEW OF B.JAYALAXMI VS. ACIT (2018) [96 TAXMANN.COM 486] AND CIT VS. D.M.PURNESH (2020) [426 ITR 169] (KARNA TAKA). WE THUS DECLINE THE REVENUES INSTANT GRIEVANCE ON THI S SOLE REASON ALONE. 4. THIS REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH JUNE, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 11-06-2021 TNMM ITA NO. 2275/HYD/2018 :- 3 -: COPY TO : 1.INCOME TAX OFFICER, WARD-3(2), HYDERABAD. 2.M/S.RATNAPRIYA INFRASTRUCTURE PRIVATE LIMITED, AISHWARYA TOWERS, PLOT NO.1-B/6, H.NO.6-27/1, SVCIE , BALANAGAR, HYDERABAD. 3.CIT(APPEALS)-3, HYDERABAD. 4.PR.CIT-3, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.