Bytinti Srithimmareddy, Gadwal, Hyderabad V. ITO, Ward-1, Mahabubnagar, Hyderabad

ITA 761/HYD/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3396 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 07-04-2021
• Assessment Year: 2012-2013
• Appeal Filed On: 02-05-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Section: 143(3); 153A; 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES : BENCH B HYDERABAD (THROUGH VIDEO CONFERENCE ) BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER I.T.A. NO. 761 /HYD./201 7 ASSESSMENT YEAR : 201 2 - 13 SHRI BYTINTI SRITHIMMAREDDY VS. ITO, WARD - 1 GADWAL MAHABUBNAGAR [PAN: AKKPB7216R ] (APPELLANT) (RESPONDENT) FOR ASSESSEE: SHRI A.V. RAGHURAM FOR MOHD. AFZAL, ADV. FOR REVENUE: SHRI YVST SAI, CIT, D.R. DATE OF HEARING : 07 /0 4 /2021 DATE OF PRONOUNCEMENT : 11 /0 6 /2021 O R D E R PER S.S. GODARA, J.M. THIS ASESSEES APPEAL FOR AY 201 2 - 13 ARISES FROM CIT(A) - 4 HYDERABADS ORDER DATED 24.11. 201 6 PASSED IN CASE NO. 137 /201 6 - 17 INVOLVING PROCEEDINGS U/S 143(3) R.W.S 153A OF THE INCOME TAX ACT, 1961 FOR SHORT THE ACT. ITA NO 761/HYD/17 AAY: 2012 - 13 SRI BYTINTI SRITHIMMA REDDY, GADWAL 2 HEARD BOTH THE PARTIES. CASE FILE PERUSED. AT THE OUTSET, IT IS OBSERVED THAT THERE WAS A DELAY OF 59 DAYS IN FILING THE APPEAL BEFORE THE TRIBUNAL, AND THE ASSESSEE FILED AFFIDAVIT EXPLAINING REASONS FOR THE DELAY. WE CONDONE THE DELAY AND PROCEED WITH THE APPEAL AS THE DELAY IS NEITHER INTENTIO NAL NOR WILLFUL . 2. IT EMERGES AT THE OUTSET THAT THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE RAISED IN THE INSTANT APPEAL CHALLENGES CORRECTNESS OF BOTH THE LOWER AUTHORITIES ACTION ADDING CASH SEIZED RS.5 , 78 , 500 / - AS UNEXPLAINED. THERE IS HARDLY AN Y DISPUTE BETWEEN THE PARTIES THAT THE IMPUGNED CASH HAD BEEN SEIZED ON 23.2.201 2 AT GOVARDHANAGIRI CHECK POST , VEEPANGANDLA MANDAL FROM THE ASSESSEE. THERE IS FURTHER NO QUARREL THAT THIS ASSESSEE HAS BEEN ASSESSED FOR HAVING DERIVED COMMISSION INCOME IN AGRICULTURAL PRODUCE A ND ALSO THAT HE SUBMITTED HIS EXPLANATION ATTRIBUTING THE IMPUGNED CASH PAYMENTS AS PAYMENTS REGA RDING COMMISSION AGENCY BUSINESS PERTAINING TO 10 FARMERS HA VE ALREADY BEEN CONFIRMED FROM THE LATTER S SIDE. SUFFICE TO SAY; BOTH THE LOWER AUTHORITIES HAVE HELD THAT THE SAME DO NOT INSPIRE ANY CONFIDENCE SO AS TO BE ACCEPTED. THIS LEAVES THE ASSE SSEE AGGRIEVED. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AGAINST AND IN SUPPORT OF THE IMPUGNED UNEXPLAINED CASH INCOME ADDITION OF RS.5 , 78 , 500 / - SEIZED FROM THE ASSESSEE HIMSELF. THE FACT ALSO REMAINS THAT HE IS A DULY REGISTERED COMMISSION AGENT IN AN AGRICULTURAL PRODUCE MARKET COMMITTEE WHO ALSO BROUGHT CONFIRMATIONS OF THE AGRICULTURE PRODUCE GRO W ERS PARTIES DURING THE COURSE OF LOWER PROCEEDINGS. ALL THIS SUFFICIENTLY INDICATES THAT THERE IS EVERY CHANCE OF THE SAID CASH BELONGING TO FORMERS / GROWERS ONLY WHICH ALSO HAS NOT BEEN COMPLETELY RECONCILED IN THE LOWER PROCEEDINGS FACED WITH THIS SITUATION, WE DEEM IT APPROPRIATE THAT A NET PROFIT ELEMENT ADDITION OF RS. 1.25 LACS ONLY OUT ITA NO 761/HYD/17 AAY: 2012 - 13 SRI BYTINTI SRITHIMMA REDDY, GADWAL 3 OF RS. 5,75,500/ - IN ISSUE WOULD BE JUST AND PROPER WIT H A RIDER THAT THE SAME SHALL NOT BE TREATED AS A PRECEDENT. THE A SSESSEE GETS A RELIEF OF RS. 4,53,500/ - IN OTHER WORDS. NECESSARY COMPUTATION SHALL FOLLOW AS PER LAW. THIS ASSESSEES APPEAL IS PARTLY ALLOWED IN ABOVE TERMS. PRONOUNCED IN OPEN COURT ON 11 TH JUNE, 2021. SD/ - SD/ - (L.P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: THE 11 TH JUNE, 2021. * GM V COPY OF THE ORDER FORWARDED TO: 1. SRI BYTINTI SRITHIMMA REDDY C/O MOHD. AFZAL, ADVOCATE, 11 - 5 - 465, SHERSONS RESIDENCY, FLAT NO. 402, CRIMINAL COURT ROAD, RED HILLS, HYDERABAD 500 004 . 2. ITO, WARD - 1, MAHABUBNAGAR . 3. ACIT, RANGE 5, MAHABUBNAGAR. 4. CIT(A) - 4, HYDERABAD 5. PR.CIT - 4 , HYDERABAD 6 . DR, ITAT, HYDERABAD. 7 . GUARD FILE.