Income Tax Officer, Ward-4(1), Hyderabad V. Sri Jyothi Murthy Mala, Hyderabad

ITA 465/HYD/2014

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6000 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 11 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 14-03-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 19-03-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M SITARAM
• Assessee Lawyers: K SREENIVASAN
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA.NO.465/HYD/2014 ASSESSMENT YEAR 2009-2010 THE INCOME TAX OFFICER, WARD-4(1), HYDERABAD. VS. SRI JYOTHI MURTHY MALA HYDERABAD. PAN AKPRM7125P (APPELLANT) (RESPONDENT) FOR REVENUE : MR. M. SITARAM FOR ASSESSEE : MR. K. SREENIVASAN DATE OF HEARING : 1 4.03.2016 DATE OF PRONOUNCEMENT : 1 4.03.2016 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A)-V, HYDERABAD DATED 20.11.20 13 IN RESTRICTING THE ADDITION OF RS.30,46,742 MADE BY TH E A.O. TO RS.1,99,320. 2. AT THE TIME OF HEARING, IT IS NOTICED THAT THE TOTAL OF THE DISALLOWANCES MADE BY THE A.O. WAS RS.39,74,590. ONE OF THE ADDITION IS OF RS.30,46,74 2. THE ASSESSEE CHALLENGED ALL THE ADDITIONS MADE BY THE A .O. BEFORE THE LD. CIT(A) WHO CONFIRMED ALL THE ADDITIO NS EXCEPT THE ADDITION OF RS.30,46,742 WHICH REPRESENT S THE AMOUNT RECEIVED BY THE ASSESSEE FROM IJM CONCRETE 2 ITA.NO.465/HYD/2014 SRI JYOTHI MURTHY MALA, HYD. PRODUCTS LTD., WHICH WAS NOT REFLECTED BY THE ASSES SEE IN ITS RETURN OF INCOME. THE LD. CIT(A) CONSIDERED THE SUBMISSIONS OF THE ASSESSEE AND FOUND THAT IT IS ON LY A SUM OF RS.19,93,139 WHICH HAS NOT BEEN DISCLOSED AN D NOT RS.30,46,742. HE ACCORDINGLY DELETED THE ADDITI ON OF RS.30,46,742 AND THEREAFTER, ESTIMATED THE INCOME O N THE DIFFERENCE AMOUNT OF RS.19,93,139 OF THE TURNOVER @ 10% AND RESTRICTED THE ADDITION TO RS.1,99,320 AND ALLO WED THE BALANCE AMOUNT OF RS.17,39,819 AS EXPENDITURE. AGAI NST THIS ORDER OF THE LD. CIT(A), THE REVENUE IS IN APP EAL BEFORE US. 3. WE FIND THAT THE RELIEF GRANTED BY THE LD. CIT(A) IS TO THE EXTENT OF RS.28,47,422 (RS.30,46,7 42 RS.1,99320) AND THE TAX EFFECT OF THE SAME IS ADMIT TEDLY LESS THAN RS.10 LAKHS. IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, THIS APPEAL OF THE REVENUE IS DISMISSED AS WITHDRAWN IN VIEW OF LOW TAX EFFECT. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON 14.03.2016. SD/- SD/- (S. RIFAUR RAHMAN) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 14 TH MARCH, 2016 VBP/- COPY TO : 1. THE INCOME TAX OFFICER, WARD-4(1), 5 TH FLOOR, AAYAKAR BHAVAN, BASHEERBAGH, HYDERABAD. 2. SRI JYOTHI MURTHY MALA, FLAT NO.107, 1-10-245, S HIVA TOWERS, ASHOKNAGAR, HYDERABAD. 3. CIT(A)-V, HYDERABAD. 4. CIT-IV, HYDERABAD. 5. D.R. ITAT A BENCH, HYDERABAD. 6. GUARD FILE