Velagapudi Rama Rao, Vijayawada V. The Deputy Commissioner of Income Tax Circle-2(1), Vijayawada

ITA 670/VIZ/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1754 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 2 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 09-12-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: B.SATYANARAYANA RAJU
• Keywords: Business income
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI N.K. CHOUDHRY, HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER I.T.A. NO. 670 /VIZ/2019 (ASST. YEAR : 2015 - 16 ) VELAGAPUDI RAMA RAO, D.NO. 59 - 10 - 2, GAYATHRI NAGAR, VIJAYAWADA. V S. DCIT, CIRCLE - 2(1) VIJAYAWADA. PAN NO. AAYPV 7403 Q (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI C.SUBRAHMANYAM , FC A DEPARTMENT BY : SHRI B.SATYANARAYANA RAJU , SR. DR DATE OF HEARING : 16 / 02 /2021 . DATE OF PRONOUNCEMENT : 16 / 0 2 /2021 . O R D E R PER N.K. CHOUDHRY , JUDICIAL MEMBER THIS APPEAL HAS BEEN PREFERRED BY THE ASSESSEE AGAINST THE ORDER DATED 16 / 09 /2019 IMPUGNED HEREIN PASSED BY THE LD.CIT(A), VIJAYAWADA U/SEC. 250(6) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS 'ACT') FOR THE A.Y. 20 1 5 - 1 6 . 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL: - 1. THAT THE AO REJECTED THE BOOKS WI THOUT BRINGING ANY EVIDENCE ON RECORD. 2. IN ESTIMATING THE INCOME FROM MAIN CONTRACTS AT 10% AMOUNTING TO RS. 92,64,454/ - . 2 ITA NO. 670 / VIZ /2019 ( VELAGAPUDI RAMA RAO ) 3. IN ESTIMATING THE INCOME ON SUB - CONTRACTS AT 7% AMOUNTING TO RS. 1,75,000/ - 4. IN ESTIMATING THE INCOME FROM BACK TO BACK SUB - CONTRACTS AT RS. 92,64,454/ - . FOR THESE AND SUCH OTHER GROUNDS THAT MAY BE URGED AT THE TIME OF HEARING, THE APPELLANT PRAYS THAT ADDITION BE DELETED. 3 . H EARD THE PARTIES AND PERUSED THE MATERIAL AVAILABLE ON RECORD . WE REALISE THAT THE LD. CIT( A) WHILE DEALING WITH THE ISSUES RAISED BY THE ASSESSEE IN THE INSTANT APPEAL, DETERMINED AS UNDER: - 5. IN THESE GROUNDS OF APPEAL, THE ASSESSEE HAS DISPUTED THE ACTION OF THE AO IN REJECTING THE BOOKS OF ACCOUNT AND ESTIMATING THE BUSINESS INCOME FROM EXECUTION OF CONTRACTS AT 10%, 7% AND 4% OF THE GROSS RECEIPTS IN RESPECT OF MAIN CONTRACTS, CONTRACTS UNDERTAKEN AS SUB - CONTRACTS AND CONTRACTS GI VEN TO SUB - CONTRACTORS RESPECTIVELY. HOWEVER, DURING THE COURSE OF THE APPELLANT PROCEEDINGS, THESE GROUNDS OF APPEAL WERE NOT PRESSED BY THE AR OF THE ASSESSEE VIDE ORDER SHEET NOTING DATED 12/09/2019 . HENCE, THESE GROUNDS OF APPEAL ARE DISMISSED. 4 . IT REFLECTS FROM IMPUGNED ORDER THAT ISSUE S RELATES TO THE GROUNDS RAISED IN THIS APPEAL WERE NOT PRESSED IN APPEAL BEFORE THE LD. CIT(A) BY THE LD. A R OF THE ASSESSEE THEREFORE THE APPEAL WAS DISMISSED BY THE LD. CIT(A) . FROM RECO RD WE COULD NOT FIND ANY MATERIAL AND/OR CIRCUMSTANCE TO CONTRA DICT THE DETERMINATION/ OBSERVATION OF THE LD. CIT(A) AND EVEN OTHERWISE IT IS NOT THE CASE OF THE ASSESSEE THAT THOUGH THE GROUN D S OF APPEAL HAVE BEEN PRESSED BEFORE THE LD. CIT(A) , HOWEVER , HE OBSERVED AND DETERMINED CONTRARY. H ENCE, WE ARE INCLINED TO DISMISS THE APPEAL OF THE ASSESSEE . CONSEQUENTLY , THE ORDER PASSED BY THE LD. CIT(A) IS AFFIRMED . 3 ITA NO. 670 / VIZ /2019 ( VELAGAPUDI RAMA RAO ) 5. IN THE RESULT, APPEAL FILED BY THE ASSESSEE STANDS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON TH IS 1 6 T H DAY OF FEB . , 2021 . S D / - S D / - (D.S. SUNDER SINGH) ( N.K. CHOUDHRY ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 1 6 T H FEBRUARY , 20 2 1 . VR/ - COPY TO: 1. THE ASSESSEE - VELAGAPUDI RAMA RAO, D.NO. 59 - 10 - 2, GAYATHRI NAGAR, VIJAYAWADA. 2. THE REVENUE DCIT, CIRCLE - 2(1), VIJAYAWADA. 3. THE PR. CIT , VIJAYAWADA. 4. THE CIT(A) , VIJAYAWADA. 5. THE D.R . , VISAKHAPATNAM. 6. GUARD FILE. BY ORDER (VUKKEM RAMBABU) SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.