Deputy Commissioner of Income Tax ,Circle-1(1), Vijayawada V. Kapil Chits (Kosta) Private Limited, Vijayawada

MA 11/Hyd/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 4879 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-04-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB-B
• Assessment Year: 2017-2018
• Appeal Filed On: 13-02-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD ‘A’ BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L. P. SAHU, ACCOUNTANT MEMBER M A No.11/Hyd/2022 (In ITA No.726/Hyd/2020) (Assessment Year : 2017-18) Dy. Commissioner of Income Tax, Circle 1(1), Vijayawada. .....Appellant. Vs. M/s. Kapil Chits (Kosta) Pvt. Ltd., Vijayawada. PAN AADCK 4820G .....Respondent. Appellant By : Shri YVST Sai (CIT-DR) Respondent By : Shri S. Rama Rao, Adv. Date of Hearing : 01.04.2022. Date of Pronouncement : 04.04.2022. O R D E R Per Shri S.S. Godara, J.M. : This Revenue’s Miscellaneous Application filed u/s.254(2) of Income Tax Act, 1961 (“the Act” in short) seeks to recall the tribunal’s common order dt.05.10.2021 declining all of its eighteen appeals thereby affirming the learned CIT(A)’s identical action on the issue(s) raised therein. Heard both the parties. Case file perused. 2 M A No.11/Hyd/2022 2. Mr. Sai vehemently contended during the course of hearing in light of the Revenue’s averments in the instant miscellaneous application that we have omitted to adjudicate its 7 th substantive ground in the main appeal ITA No.726/Hyd/2020 herein raising section 68 unexplained chit subscription issue amounting to Rs.15,00,00,000. Mr. Rama Rao is equally fair in not opposing the Revenue’s foregoing sole substantive grievance. We, therefore, recall our impugned order dt.5.10.2021 to this limited extent and direct the registry to fix the main appeal in due course. No other ground has been pressed before us. 3. This Revenue’s Misc. Application is allowed in above terms. Order pronounced in the open court on 4th April, 2022. Sd/- Sd/- (L.P. SAHU) (S.S. GODARA) Accountant Member Judicial Member Hyderabad, Dt. 04.04.2022. * Reddy gp 3 M A No.11/Hyd/2022 Copy to : 1. M/s. Kapil Chits (Kosta) Pvt. Ltd., H.No.4-6-4A, 1 st Floor, Mogal Rajapuram, Vijayawada-520 010 2. DCIT, Central Circle 2(3), Hyderabad. ACIT, Central Circle 2(3), Hyderabad. 3. Pr. C I T (Central), Hyderabad. 4. CIT(Appeals)-12, Hyderabad. 5. DR, ITAT, Hyderabad. 6. Guard File. By Order Sr. Pvt. Secretary, ITAT, Hyderabad.