Dr Chilukoti Veeramma , Nellore V. Income Tax Officer, Ward-4, Nellore

ITA 354/Hyd/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 0525 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 9 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-01-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Assessment Year: 2014-2015
• Appeal Filed On: 17-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained investment
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ B ‘ Bench, Hyderabad (Through Video Conferencing) Before Shri S.S. Godara, Judicial Member AND Shri Laxmi Prasad Sahu, Accountant Member O R D E R Per S. S. Godara, J.M. This assessee’s appeal for A.Y. 2014-15 arises from the Commissioner of Income Tax (Appeals), Tirupati’s order dated 03.01.2019 in ITA No.10197/2016-17/CIT(A)/TPT, involving proceedings u/s. 143(3) of the Income Tax Act, 1961 [in short, ‘the Act’]. Heard both parties. Case file perused. 2. We notice at the outset that the assessee’s twin substantive grounds seeking to reverse both the lower authorities’ action making unaccounted purchases / unexplained investments addition of Rs.9,80,000/- and interest thereon of Rs.1,88,000/-; respectively, do not require us to delve much deeper in the relevant factual matrix for the reasons given hereunder : ITA No.354/Hyd/2019 Assessment Year: 2014-15 Dr. Chilukoti Veeramma, Nellore. PAN : AFDPC0881R. Vs. The Income Tax Officer, Ward – 4, Nellore. (Appellant) (Respondent) Assessee by: Shri S. Ramarao Revenue by : Shri Rohit Mujumdar Date of hearing: 04.01.2022 Date of pronouncement: 06.01.2022 ITA No.354/Hyd/2019 2 3. We next notice with the able assistance of both the parties that the assessee has filed additional documents before us containing the corresponding details of the plant / machinery in the nature of Fuji Computer Radiography with Lenovo Monitor that the same in fact belongs to Shri N. Mastanaiah and his wife, who have also filed the relevant details which were nowhere placed in the lower proceedings. 4. The assessee’s case regarding the latter issue is that the interest income in issue has nowhere been received in the relevant previous year. Faced with this situation, we deem it appropriate to restore the assessee’s twin substantive grounds back to the Assessing Officer for his afresh necessary factual verification as per law within three effective opportunities of hearing. Ordered accordingly. 5. This assessee’s appeal is allowed for statistical purposes in above terms. Order pronounced in the Open Court on 6 th January, 2022. Sd/- Sd/- (LAXMI PRASAD SAHU) ACCOUNTANT MEMBER (S.S. GODARA) JUDICIAL MEMBER Hyderabad, dated 6 th January, 2022. TYNM/sps ITA No.354/Hyd/2019 3 Copy to: S.No Addresses 1 Dr. Chilukoti Veeramma, D.No.6/73, Main Road, Inamadugu, Kovur, Nellore District – 524001. 2 The Income Tax Officer, Ward – 4, Nellore. 3 CIT (A) – Tirupati. 4 Pr.CIT – Tirupati. 5 DR, ITAT Hyderabad Benches 6 Guard File By Order