Pattabi Reddy Barankabavi , Secunderabad V. Income Tax Officer, Ward-15(1) , Hyderabad

ITA 393/Hyd/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 3656 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 2 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-10-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 16-09-2021
• Assessment Year: 2013-2014
• Appeal Filed On: 17-07-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3); 201; 13

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. 3 93 /HYD/20 20 ASSESSMENT YEAR: 20 13 - 14 MR PATTABI REDDY BARANKABAVI HYDERABAD [PAN: A OIPP5170J ] VS I T O, WARD 15(1) HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : NONE FOR REVENUE : S HRI SWAROOP MANNAVA, D R DATE OF HEARING : 16 - 0 9 - 2021 DATE OF PRONOUNCEMENT : 08 - 10 - 2 021 O R D E R PER S.S.GODARA, J.M. : THIS ASSESSEES APPEAL FOR AY.20 13 - 14 ARISES FROM THE CIT(A) - 7 , HYDERABADS ORDER DATED 1 3 - 0 2 - 2020 PASSED IN CASE NO. 0263 / CIT(A) - 7/ 201 5 - 16, INVOLVING PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. NONE REPRESENTED THE ASSESSEE WHEREAS SRI SWAROOP MANNAVA, LD. DR HAS APPEARED FOR DEPARTMENT. CASE FILE PERUSED. ITA NO. 393 /HYD/2020 AY: 20 13 - 14 MR. PATTABI REDDY BARANKABAVI, SEC. - 2 - 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CHALLENGES CORRECTNESS OF BOTH THE LOWER AUTHORITIES ACTION ESTIMATING INCOME OF RS.17,82,947 @ 5% FROM WINE BUSINESS . THE A SSESSEES GROUND S PLEAD THAT SUCH AN ESTIMATION OF INCOME IN RETAIL SALE ON LIQUOR DOES NOT EXCEED 2 TO 4% IN NORMAL COURSE AS PER VARIOUS JUDICIAL PRONOUNCEMENTS. THE SAME IS FOUND TO BE WITHOUT ANY MERIT AS SUCH AN ESTIMATION COULD NOT BE TREATED AS A BINDING PRECEDENT IN LIGHT OF CIT VS. B.R. CONSTRUCTIONS (1993) 202 ITR 222 (AP) SINCE NOT CONSIDERING ALL THE RELEVANT FACTS IN LIGHT OF THE STATE EXCISE LAW/POLICY DEFINING RETAIL MARGINS. 3. THIS ASSESSEES APPEAL IS DISMISSED. PRONOUNCED IN OPEN COURT ON 08 TH OCTOBER, 2021. SD/ - SD/ - (L.P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: THE 08 TH OCTOBER, 2021. * GMV COPY OF THE ORDER FORWARDED TO: 1. MR. PATTABI REDDY BARANKABAVI, FLAT NO.2, SAI SADAN APARTMENTS, OM SAI COLONY, SECUNDERABAD 500 004 2. I T O, WARD 15(1), HYDERABAD 3. ACIT, RANGE 15 , HYDERABAD 4. CIT(A) - 7 , HYDERABAD 5. PR.CIT - 7 , HYDERABAD 6 . DR, ITAT, HYDERABAD. 7 . GUARD FILE. ITA NO. 393 /HYD/2020 AY: 20 13 - 14 MR. PATTABI REDDY BARANKABAVI, SEC. - 3 -