Ordnance Factory Medak Consumers Co-Operative Society Limited, Medak V. ITO Ward 1 Sangareddy, Sangareddy

ITA 759/Hyd/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 3030 (ITAT-HYDERABAD)
• Duration Of Justice: 10 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-10-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Assessment Year: 2017-2018
• Appeal Filed On: 09-12-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VENUDHAR GODE
• Section: 144

Judgement Text

ITA NO.759/HYD /2020 1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S. GODARA, JUDICIAL MEMBER ITA NO.759/HYD/2020 ASSESSMENT YEAR: 2017-18 ORDNANCE FACTORY MEDAK CONSUMERS CO-OPERATIVE SOCIETY LIMITED, YEDDUMILARAM, SANGAREDDY, MEDAK 502095, TELANGANA. PAN NO.AAFFO1059E VS. THE INCOME TAX OFFICER, WARD 1, SANGAREDDY. (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI KUMAR PAL TATED - AR REVENUE BY : SRI VENUDHAR GODE - DR DATE OF HEARING: 20/09/2021 DATE OF PRONOUNCEMENT: 20/10/2021 ORDER PER S. S. GODARA, J.M. THIS ASSESSEES APPEAL FOR A.Y 2017-18 ARISES FROM THE CIT(A)-2, HYDERABADS ORDER DATED 20.08.2020 IN CAS E NO.13093/2019-20/CIT(A)-2 INVOLVING PROCEEDINGS UND ER SECTION 144 OF INCOME TAX ACT, 1961 (IN SHORT, THE ACT). HEARD BOTH PARTIES. CASE FILE(S) PERUSED. ITA NO.759/HYD /2020 2 2. COMING TO THE ASSESSEES SOLE SUBSTANTIVE GRIEVA NCE THAT THE CIT(A) HAS ERRED IN LAW AND ON FACTS IN AF FIRMING THE ASSESSING OFFICERS ACTION DENYING ITS MATURITY BEN EFIT THEREBY RESTRAINING 8% PROFIT ESTIMATION COMING TO RS.67,42 ,760/- PERTAINING TO GAS, FUEL AND OTHER ITEMS TO THE EXTE NT OF RS.27,36,085/-, WE NOTE THAT THE LOWER APPELLATE DI SCUSSION TO THIS EFFECT READS AS UNDER : ITA NO.759/HYD /2020 3 ITA NO.759/HYD /2020 4 ITA NO.759/HYD /2020 5 ITA NO.759/HYD /2020 6 3. LEARNED COUNSELS SOLITARY ARGUMENT BEFORE US IS THAT THE ASSESSEE HAS BEEN WRONGFULLY DENIED MATURITY BE NEFIT DESPITE THE FACT THAT IT HAD BEEN CARRIED OUT ALL ITS ACTIV ITIES INCLUDING RUNNING OF PETROL STATION FOR THE BENEFIT OF ITS ME MBERS ONLY. THE REVENUES STAND ON THE OTHER HAND IS THAT THE ASSES SEE HAD ITSELF STATED TO HAVE BEEN RUNNING THE FUEL STATION FOR GE NERAL PUBLIC THAN FOR ITS MEMBERS EXCLUSIVE USES. WE DO NOT FIN D ANY SUCH STATEMENT COMING FROM THE ASSESSEE SIDE ALONG WITH CORRESPONDING BY-LAWS AND ALLOTMENT CONDITIONS IN THE CASE FILES. 4. FACED WITH THIS SITUATION, WE DEEM IT APPROPRIAT E TO RESTORE THE ASSESSEES INSTANT SOLE SUBSTANTIVE GR OUND BACK TO THE ASSESSING OFFICER FOR HIS APPROPRIATE ADJUDICATION WITHIN THREE EFFECTIVE OPPORTUNITIES OF HEARING SUBJECT TO THE C ONDITION THAT IT ITSELF FILL ALL THE NECESSARY DETAILS. ITA NO.759/HYD /2020 7 5. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN THE ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH OCTOBER, 2021. SD/- SD/- SD/ (A. MOHAN ALANKAMONY) ACCOUNTANT MEMBER (S.S. GODARA) JUDICIAL MEMBER HYDERABAD, DATED 20 TH OCTOBER, 2021. TYNM/SPS COPY TO: S.NO AD DR ES S ES 1 ORDNANCE FACTORY MEDAK CONSUMERS CO-OPERATIVE SOCIETY LIMITED, YEDDUMILARAM, SANGAREDDY, MEDAK 502095, TELANGANA. 2 THE INCOME TAX OFFICER, WARD 1, SANGAREDDY. 3 CIT (A)-2, HYDERABAD. 4 PR. CIT 2, HYDERABAD. 5 DR, ITAT HYDERABAD BE NCHES 6 GUARD FILE BY ORDER ITA NO.759/HYD /2020 8