ITO, Ward-1,, Nalgonda v. Sri Prasad Bandaru,, Nalgonda

ITA 329/HYD/2013 | 2009-2010
Pronouncement Date: 03-10-2013 | Result: Partly Allowed

Appeal Details

RSA Number 32922514 RSA 2013
Assessee PAN AHFPB4731M
Bench Hyderabad
Appeal Number ITA 329/HYD/2013
Duration Of Justice 6 month(s) 15 day(s)
Appellant ITO, Ward-1,, Nalgonda
Respondent Sri Prasad Bandaru,, Nalgonda
Appeal Type Income Tax Appeal
Pronouncement Date 03-10-2013
Appeal Filed By Department
Order Result Partly Allowed
Bench Allotted B
Tribunal Order Date 03-10-2013
Assessment Year 2009-2010
Appeal Filed On 18-03-2013
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B' HYDERABAD BEFORE SHRI CHANDRA POOJARI ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY JUDICIAL MEMBER ITA NO. 329/HYD/2013 ASSESSMENT YEAR 2009-10 THE INCOME TAX OFFICER WARD-1 NALGONDA VS. SRI PRASAD BANDARU NALGONDA PAN: AHFPB4731M APPELLANT RESPONDENT APPELLANT BY: SRI BHANU PRASAD REDDY RESPONDENT BY: SRI A.V. RAGHURAM DATE OF HEARING: 0 3 .10.2013 DATE OF PRONOUNCEMENT: 0 3 .10.2013 O R D E R PER CHANDRA POOJARI AM: THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE CIT(A)-VI HYDERABAD DATED 17.12.2012 FOR A.Y. 200 9-10. 2. THE CRUX OF THE GROUNDS RAISED BY THE REVENUE IS THAT THE CIT(A) OUGHT TO HAVE UPHELD THE ESTIMATION OF SALES @ 27% OF THE COST OF LIQUOR PUT AS PER THE GOVERNMENT OF A.P . PROHIBITION & EXCISE GO. MS NO. 184 DATED 7.2.2005 AND ASSESSM ENT OF UNDERSTATEMENT OF SALES INSTEAD OF DIRECTING THE AS SESSING OFFICER TO ESTIMATE THE NET PROFIT AT 5% ON THE PUR CHASES OR STOCK PUT FOR SALE DURING THE YEAR WHICHEVER IS MO RE. 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL ON RECORD. SIMILAR ISSUE CAME FOR CONSIDERATION BEF ORE THIS TRIBUNAL IN THE CASE OF M/S. KANAKA DURGA WINES HY DERABAD IN ITA NO. 591/HYD/2011 WHEREIN THE TRIBUNAL VIDE O RDER DATED 28.7.2011 HELD THAT 5% OF GROSS RECEIPTS HAS TO BE CONSIDERED AS ITA NO. 329/HYD/2013 SRI PRASAD BANDARU ================== 2 PROFIT OF THE ASSESSEE. ACCORDINGLY THE GROUND TA KEN BY THE REVENUE IS PARTLY ALLOWED. 4. IN THE RESULT APPEAL OF THE REVENUE IS PARTLY ALLO WED. ORDER PRONOUNCED IN THE OPEN COURT ON 3 RD OCTOBER 2013 SD/ - (SAKTIJIT DEY) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD DATED 3 RD OCTOBER 2013 TPRAO COPY FORWARDED TO: 1. THE INCOME TAX OFFICER WARD - 1 NEAR RAILWAY UNDER BRIDGE HYDERABAD ROAD MARRIGUDA POST NALGONDA-508 001. 2. SRI PRASAD BANDARU PROP. VINAYAKA WINES H. NO. 6 - 6 - 277 VIVEKANANDA COLONY NALGONDA. 3. THE CIT(A) - VI HYDERABAD. 4. THE CIT - VI HYDERABAD. 5. THE DR 'B' BENCH ITAT HYDERABAD