Rajendra Prasad Agarwal, Sec'bad, Hyderabad V. JCIT, Range-10, Hyderabad, Hyderabad

ITA 872/HYD/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 2600 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 3 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 20-06-2017
• Assessment Year: 2007-2008
• Appeal Filed On: 09-06-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: N SWAPNA
• Keywords: Business income

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD SMC - B BENCH : HYDERABAD BEFORE SHRI D. MANMOHAN, VICE PRESIDENT ITA.NO. 872/HYD/2016 ASSESSMENT YEAR 2007 - 2008 RAJENDRA PRASAD AGARWAL, SECUNDERABAD. PAN: AAKPA8671K VS. JCIT, RANGE - 10, HYDERABAD. (APPELLANT) (RESPONDENT) FOR ASSESSEE: NONE FOR REVENUE : SMT. N. SWAPNA, DR DATE OF HEARING : 27 .09.2017 DATE OF PRONOUNCEMENT : 27 .09.2017 ORDER PER D. MANMOHAN, VP. THIS APPEAL BY ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY LD. CIT(A) - 9, HYDERABAD AND IT PERTAINS TO A.Y. 2007 - 2008. THOUGH THE APPEAL WAS POSTED FROM TIME TO TIME , AT THE REQUEST OF ASSESSEE OR LD DR THE CASE WAS ADJOURNED AND FINALLY POSTED FOR HEARING ON 27.09.2017. NONE APPEARED ON BEHALF OF ASSESSEE. THEREFORE, I PROCEED TO DISPOSE OF THE APPEAL EX - PARTE , QUA THE ASSESSEE. 2. ASSESSEE IS ENGAGED IN THE BUSINESS OF MANUFACTURING AND TRADING IN IRON AND STEEL. FOR THE YEAR UNDER CONSIDERATION ASSESSEE ADMITTED TOTAL INCOME OF RS.40,47,040/ - . THE CASE WAS TAKEN UP FOR SCRUTINY AND UPON TAKING INTO CONSIDERATION THE CONTENTIONS OF THE ASSESSEE , SEVERAL ADDITIONS WERE MADE PARTICULARLY CONCERNING SHORT TERM CAPITAL GAINS AND BUSINESS INCOME AND ACCORDINGLY ARRIVED AT NET TAXABLE INCOME OF RS. 41 ,48,687/ - . ON AN APPEAL FILED BY THE ASSESSEE, LD. CIT(A) GAVE PARTIAL RELIEF AND THUS ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL. 3. AT THIS STAGE, NO MATERIAL WAS PLACED ON BEHALF OF THE ASSESSEE TO CONTRADICT THE FINDINGS OF LD. CIT(A) . THEREFORE, I FI ND NO OTHER ALTERNATIVE EXCEPT TO DISMISS THE 2 APPEAL OF THE ASSESSEE. PRONOUNCED ACCORDINGLY IN THE OPEN COURT ON 27 TH SEPTEMBER, 2017. S D / - (D. MANMOHAN) VICE PRESIDENT HYDERABAD, DATED: 27 TH SEPTEMBER, 2017 OKK, SR.PS COPY TO 1. TEJPRAKASH TOSHNIWAL, ADVOCATE, 4 - 1 - 6/4, RAMKOTE, HYDERABAD - 500095. 2. JCIT, RANGE - 10, HYDERABAD. 3. CIT (A) - 9 , HYDERABAD. 4. PR. CIT - 6 , HYDERABAD. 5. D.R. ITAT B - SMC BENCH, HYDERABAD. 6. GUARD FILE