K Pratap Reddy , Hyderabad V. Income Tax Officer, Ward-1, Suryapet

ITA 260/Hyd/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3264 (ITAT-HYDERABAD)
• Duration Of Justice: 11 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 13-03-2020
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: TOTA SUBRAMANYAM
• Section: 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES SMC, HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER I.T.A. NO. 260/HYD/2020 ASSESSMENT YEAR: 2012-13 K.PRATAP REDDY, HYDERABAD [PAN: AJWPK6815A] VS INCOME TAX OFFICER, WARD-1, SURYAPET (APPELLANT) (RESPONDENT) FOR ASSESSEE : NONE FOR REVENUE : SHRI TOTA SUBRAMANYAM, DR DATE OF HEARING : 01-02-2021 DATE OF PRONOUNCEMENT : 22-02-2021 O R D E R THIS ASSESSEES APPEAL FOR AY.2012-13 ARISES FROM TH E CIT(A)-3, HYDERABADS ORDER DATED 03-10-2019 PASSED IN APPEAL NO.0164/ITO-I/SYT/CIT(A)-3/2015-16, IN PROCEE DINGS U/S.144 R.W.S.147 OF THE INCOME TAX ACT, 1961 [IN SHO RT, THE ACT]. CASE CALLED TWICE. NONE APPEARED AT ASSESSEES BEH EST. HE ACCORDINGLY PROCEEDED EX-PARTE. 2. THE ASSESSEES FIRST AND FOREMOST SUBSTANTIVE GRIEV ANCE IN THE INSTANT APPEAL SEEKS TO REVERSE BOTH THE LOWER AUTHORITIES ACTION DISALLOWING HIS AGRICULTURAL INCO ME CLAIM OF RS.6,25,000/- TO THE EXTENT OF RS.3,75,000/-; THEREBY GR ANTING PART RELIEF OF RS.5,000/- PER ACRE ONLY. IT IS NOT IN DISPUTE THAT THIS ASSESSEE OWNS MORE THAN 50 ACRES OF LAND; ALTHOU GH STATED TO BE IN DRY AREA. THE FACT ALSO REMAINS THAT POS SIBILITY ITA NO. 260/HYD/2020 :- 2 -: OF AGRICULTURAL INCOME PER SE CANNOT BE RULED OUT AND MORE SO WHEN BOTH THE LOWER AUTHORITIES HAVE THEMSELVES ACCEPTED THE SAME @5,000/- PER ACRE. I DEEM IT APPROPRIATE IN THE SE FACTS AND CIRCUMSTANCES THAT THE ASSESSEE DESERVES TO BE GRANTE D A RELIEF OF RS.5,000/- PER ACRE OVER AND ABOVE RS.2.5 LAKHS ACCEPTED IN THE COURSE OF ASSESSMENT WITH A RIDER TH AT THE SAME SHALL NOT BE TREATED AS A PRECEDENT. THE ASSESSEE GETS FURTHER RELIEF OF RS.2.50 LAKHS IN ALL AND THE REMAIN ING DISALLOWANCE/ADDITION COMPONENT OF RS.1,25,000/- ONL Y IS SUSTAINED. THIS GROUND IS TAKEN AS PARTLY ACCEPTED IN F OREGOING TERMS. 3. NEXT COMES INTEREST INCOME ADDITION OF RS.12,96,750/ -. LEARNED DEPARTMENTAL REPRESENTATIVE STATED VERY FAIRLY THA T THERE HAS BEEN AN AGREEMENT EXECUTED AMONGST THE ASSESS EE AND THE ALLEGED BUYERS SHRI K.BHASKAR RAO AND SHRI T.V.G.SUDERSHAN WHICH HAS NOT BEEN ADEQUATELY EXAMIN ED IN THE CIT(A)S ORDER. I THEREFORE DEEM IT APPROPRIATE TO R ESTORE THE LATTER BACK TO THE ASSESSING OFFICER FOR AFRESH FACTUAL VERIFICATION AS WELL AS IN LIGHT OF THE CORRESPONDING DEVELOPMENT IN AY.2011-12 AS PER LAW. 4. THIS ASSESSEES APPEAL IS TREATED AS PARTLY ALLOWE D IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND FEBRUARY, 2021 SD/- ( S.S.GODARA ) JUDICIAL MEMBER HYDERABAD, DATED: 22-02-2021 TNMM ITA NO. 260/HYD/2020 :- 3 -: COPY TO : 1.SHRI K.PRATAP REDDY, C/O.BALAJI ASSOCIATES, FLAT NO.301, AMARAM APARTMENTS, SANJAY GANDHI NAGAR, YELLA REDDY GUDA, AMEERPET, HYDERABAD. 2.THE INCOME TAX OFFICER, WARD-1, SURYAPET. 3.CIT(APPEALS)-3, HYDERABAD. 4.PR.CIT-3, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.