K Balachandra Reddy, Nellore v. ACIT, Nellore

ITA 208/HYD/2010 | 2006-2007
Pronouncement Date: 18-05-2010 | Result: Allowed

Appeal Details

RSA Number 20822514 RSA 2010
Assessee PAN ALPPK0653H
Bench Hyderabad
Appeal Number ITA 208/HYD/2010
Duration Of Justice 3 month(s) 7 day(s)
Appellant K Balachandra Reddy, Nellore
Respondent ACIT, Nellore
Appeal Type Income Tax Appeal
Pronouncement Date 18-05-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted A
Tribunal Order Date 18-05-2010
Date Of Final Hearing 18-05-2010
Next Hearing Date 18-05-2010
Assessment Year 2006-2007
Appeal Filed On 10-02-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A HYDERABAD BEFORE SHRI G.C. GUPTA V.P AND SHRI AKBER BASHA AM ITA NO.208/HYD/10 : ASSTT. YEAR 2006-07 K. BALACHANDRA REDDY -V- ACIT COMPANY CIR- 1 NELLORE NELLORE PAN: ALPPK 0653H (APPLICANT) (RESPON DENT) ITA NO.285/HYD/10 : ASST. YEAR 2006-07 ACIT COMPANY CIR-1 K. BALACHANDRA REDDY NELLORE. NELLORE. PAN: ALPPK 0653H (APPELLANT) (RESPONDENT) ASSESSEE BY : SRI R.V. SESHAIAH NAIDU DEPARTMENT BY : SRI K.V.N. CHARYA ORDER PER AKBER BASHA ACCOUNTANT MEMBER: THESE CROSS APPEALS ARE DIRECTED AGAINST THE ORDE R OF THE CIT (A) GUNTUR DATED 27-11-2009 PERTAINING ASSESSMENT YEAR 2006-07. 2. AT THE OUTSET WE FIND THAT THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED ADDITIONAL EVIDENCE I.E. LETTER FROM SRI VENUGOPALA SWAMY DEVASTHANAM NELLORE DATED 17-4-2006 STATING THAT S RI VENKATA RAMANA REDDY CONTRACTOR AND OTHERS HAD PAID NEAR ABOUT RS .3 71 97 000 IN THE SHAPE OF DEMAND DRAFTS AND CASH WHICH HAS BEEN ADJU STED IN ASSESSEE'S ACCOUNT ACCORDING TO HIS REQUEST. THIS EVIDENCE I S PLACED AT PAGE-8 OF THE ASSESSEE'S PAPER BOOK WHICH WAS NEITHER PRODUCED BE FORE THE ASSESSING OFFICER NOR BEFORE THE APPELLATE AUTHORITY. IN OUR VIEW TH IS ADDITIONAL EVIDENCE GOES TO ITA NOS. 208 AND 285/HYD/10 K. BALACHANDRA REDDY NELLORE. 2 THE ROOT OF THE MATTER. UNDER THESE CIRCUMSTANCES WE FEEL IT PROPER AND JUST TO RESTORE THE ISSUE OF ADDITION MADE ON ACCOUNT OF UN EXPLAINED CASH CREDIT OF RS.3 71 97 000 TO THE FILE OF THE ASSESSING OFFICER FOR FRESH CONSIDERATION IN ACCORDANCE WITH LAW. SINCE THE MAIN ISSUE WAS SET A SIDE TO THE FILE OF THE ASSESSING OFFICER OTHER GROUNDS RELATING TO ADDITI ON ON ACCOUNT OF TRADE EXPENSES AND INTEREST PAYMENTS ALSO RESTORED TO THE FILE OF THE ASSESSING OFFICER FOR FRESH CONSIDERATION IN ACCORDANCE WITH LAW. 3. SIMILARLY THE GROUND RAISED BY THE REVENUE CONT ENDING THAT THE CIT (A) ERRED IN ALLOWING RELIEF TO THE TUNE OF RS.22 90 00 0 FROM THE ADDITION MADE TOWARDS OTHER CREDITORS WHICH ARE UNEXPLAINED IN V IEW OF OUR DECISION IN ASSESSEE'S APPEAL THIS ISSUE IS ALSO RESTORED TO THE FILE OF THE ASSESSING OFFICER FOR RECONSIDERATION IN ACCORDANCE WITH LAW. 4. FOR STATISTICAL PURPOSE BOTH THE APPEALS OF THE ASSESSEE AS WELL AS REVENUE ARE TREATED AS ALLOWED. ORDER WAS PRONOUNCED IN THE COURT ON 18-5-2010. SD/- SD/- (G.C. GUPTA) (AKBER BASHA) VICE PRESIDENT ACCOUNTANT MEMBER. DATED: 18-5-2010 . COPY FORWARDED TO: 1. SRI R.V. SESHAIAH NAIDU ADVOCATE & TAX CONSULTA NT NO.12/82 OLD HOSPITAL ROAD NELLORE. 2. ACIT CIR-I NELLORE. 3. COMMISSIONER OF INCOME TAX (A) GUNTUR. 4. COMMISSIONER OF INCOME TAX AP HYDERABAD. 5. THE D.R. ITAT HYDERABAD. JMR