M/s. Lahari Impex Private Limited, Hyderabad V. Dy.CIT, Central Circle - 6, Hyderabad

MA 152/HYD/2013

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0832 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-09-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 10-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T DIWAKAR PRASAD
• Assessee Lawyers: J J VARUN
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNA L HYDERABAD BENCH B', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER MA NO. 152/HYD/2013 IN ITA NO. 1635/HYD/2012 ASSESSMENT YEAR 2004-05 M/S. LAHARI IMPEX P VT. LTD. HYDERABAD PAN: AAACL4109L VS. THE DEPUTY CIT CENTRAL CIRCLE-6 HYDERABAD APPELLANT RESPONDENT APPELLANT BY: SRI J.J. VARUN RESPONDENT BY: SRI T. DIWAKAR PRASAD DATE OF HEARING: 13 .0 9 .2013 DATE OF PRONOUNCEMENT: 13.09.2013 O R D E R PER CHANDRA POOJARI, AM: THIS MISCELLANEOUS APPLICATION (MA) BY THE ASSESSE E IS SEEKING RECTIFICATION IN THE ORDER OF THE TRIBUNAL IN ITA NO. 1635/HYD/2012 DATED 3.5.2013 FOR A.Y. 2004-05, ON T HE REASON THAT THE TRIBUNAL NOT ADJUDICATED THE GROUND RELATI NG TO ADDITION OF RS. 23,27,180 MADE U/S. 68 OF THE ACT. ADMITTEDLY THE ASSESSEE RAISED THIS GROUND AS GROUND NO. 1, AS FOLLOWS: 'THE CIT(A) OUGHT NOT HAVE SUSTAINED THE ADDITION MADE U/S. 68 AMOUNTING TO RS. 23,27,180.' 2. THE TRIBUNAL, BY OVERSIGHT, NOT ADJUDICATED THIS GR OUND. IN OUR OPINION, AS THERE IS SIMILAR GROUND FOR A.YS . 2007-08 AND 2008-09 WITH REGARD TO ADDITION U/S. 68 OF THE ACT WHICH WERE REMITTED BACK TO THE FILE OF THE ASSESSING OFFICER OBSERVING IN PARAS 19 AND 24 FOR A.YS. 2007-08 AND 2008-09, RESP ECTIVELY. FOLLOWING THE SAME RATIO, WE ARE INCLINED TO REMIT THE ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR FRESH CONSIDE RATION, WITH A DIRECTION TO THE ASSESSEE TO PROVE IDENTITY OF THE PARTIES, 2 MA NO. 152/HYD/2013 M/S. LAHARI IMPEX PRIVATE LTD ====================== GENUINENESS OF THE TRANSACTIONS AND THE CAPACITY OF THE CREDITORS AS HELD BY THE JURISDICTIONAL HIGH COURT IN THE CASE OF R.B. MITTAL (243 ITR 283). THIS GROUND OF APPEAL B Y THE ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES . IN THE RESULT, ASSESSEE'S APPEAL IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. THERE IS NO CHANGE IN THE FINAL RESULT OF ASSESSEE' S APPEAL IN ITA NO. 1635/HYD/2012 3. IN THE RESULT, MA FILED BY THE ASSESSEE IN MA NO. 152/HYD/2013 IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 13 TH SEPTEMBER, 2013. SD/- (SAKTIJIT DEY) JUDICIAL MEMBER SD/- (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED THE 13 TH SEPTEMBER, 2013 TPRAO COPY FORWARDED TO: 1. M/S. LAHARI IMPEX PVT. LTD., HOUSE NO. 723/A, ROAD NO. 37, JUBILEE HILLS, HYDERABAD. 2. THE DEPUTY CIT, CENTRAL CIRCLE - 6, AAYAKAR BHAVAN, HYDERABAD. 3. THE CIT(A) - I , HYDERABAD. 4. THE CIT (CENTRAL) , HYDERABAD. 5. THE DR B BENCH, ITAT, HYDERABAD.