M/s. SRSR Estates Pvt.Ltd, Hyd, Hyderabad v. ITO(OSD)-3, Hyderabad

ITA 685/HYD/2011 | 2007-2008
Pronouncement Date: 29-11-2011 | Result: Allowed

Appeal Details

RSA Number 68522514 RSA 2011
Assessee PAN AAECS3693J
Bench Hyderabad
Appeal Number ITA 685/HYD/2011
Duration Of Justice 7 month(s) 10 day(s)
Appellant M/s. SRSR Estates Pvt.Ltd, Hyd, Hyderabad
Respondent ITO(OSD)-3, Hyderabad
Appeal Type Income Tax Appeal
Pronouncement Date 29-11-2011
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted B
Tribunal Order Date 29-11-2011
Date Of Final Hearing 11-07-2011
Next Hearing Date 11-07-2011
Assessment Year 2007-2008
Appeal Filed On 18-04-2011
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B' HYDERABAD BEFORE SHRI H.S. SIDHU JUDICIAL MEMBER AND SHRI CHANDRA POOJARI ACCOUNTANT MEMBER I .T.A. NO. 685/HYD/2011 (ASSESSMENT YEAR : 2007-08) M/S. SRSR ESTATES PVT. LTD. HYDERABAD PAN: AAECS3693J VS. INCOME TAX OFFICER (OSD)-3 CENTRAL RANGE-1 HYDERABAD APPELLANT RESPONDENT I .T.A. NO. 690/HYD/2011 (ASSESSMENT YEAR : 2007-08) M/S. PUNARVASU BIO TECH PVT. LTD. HYDERABAD PAN: AACCP9278J VS. INCOME TAX OFFICER (OSD)-3 CENTRAL RANGE-1 HYDERABAD APPELLANT RESPONDENT APPELLANT BY: SHRI K.C. DEVDAS RESPONDENT BY: SMT. M. MYTHILI RANI DATE OF HEARING: 29.11.2011 DATE OF PRONOUNCEMENT: 29.11.2011 O R D E R PER BENCH THE ABOVE APPEALS BY DIFFERENT ASSESSEES ARE DIRECT ED AGAINST THE DIFFERENT ORDERS OF THE CIT(A)-VII HYDERABAD DATED 25.02.2011 AND 31.01.2011 RESPECTIVELY FOR THE ASSESSMENT YEAR 2007-08. SIN CE COMMON ISSUES ARE INVOLVED THE ABOVE APPEALS WERE HEARD TOGETHER AND ARE BEING DISPOSED OF BY THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 2. THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED T HAT NO PROPER OPPORTUNITY OF HEARING WAS GIVEN TO THE ASSESSEE BY THE ASSESSI NG OFFICER AS ITS RECORDS WERE IMPOUNDED BY THE CBI AND WERE RELEASED ONLY AFTER T HE ASSESSMENT PROCEEDINGS IN THESE CASES WERE COMPLETED. IN THESE FACTS HE ARGUED THAT IN THE INTEREST OF JUSTICE THE ORDERS OF THE AUTHORITIES BELOW SHOULD BE SET ASIDE AND THESE MATTERS SHOULD BE RESTORED TO THE FILE OF THE ASSESSING OFF ICER FOR DE NOVO ASSESSMENT. THE LEARNED DR HAS RELIED ON THE ORDERS OF THE ASSE SSING OFFICER AND THE CIT(A). I.T.A. NOS. 685 & 690/HYD/2011 M/S. SRSR ESTATES (P) LTD. & ANR. ========================== 2 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. IN VI EW OF THE FACT THAT THE RECORDS OF THE ASSESSEES WERE IMPOUNDED BY THE CBI AND WERE RELEASED ONLY AFTER THE COMPLETION OF THE ASSESSMEN T PROCEEDINGS IN THESE CASES WE ARE OF THE VIEW THAT IT SHALL BE IN THE I NTEREST OF JUSTICE TO SET ASIDE THE ORDERS OF THE REVENUE AUTHORITIES AND RES TORE THESE MATTERS TO THE FILE OF THE ASSESSING OFFICER WITH A DIRECTION TO FRAME THE ASSESSMENT DE NOVO AFTER ALLOWING REASONABLE OPPORTUNITY OF HEARING T O THE ASSESSEES. WE DIRECT ACCORDINGLY. 4. IN THE RESULT BOTH THE APPEALS OF THE ASSESSEES AR E ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH NOVEMBER 2011. SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER SD/ - (H.S. SIDHU) JUDICIAL MEMBER HYDERABAD DATED THE 29 TH NOVEMBER 2011 COPY FORWARDED TO: 1. M/S. SRSR ESTATES PVT. LTD. PLOT NO. 80 ROAD N O. 9 JUBILEE HILLS HYDERABAD-500 033. 2. M/S. PUNARVASU BIO-TECH PVT. LTD. PLOT NO. 80 ROAD NO. 9 JUBILEE HILLS HYDERABAD-500 033. 3. THE INCOME TAX OFFICER (OSD)-3 CENTRAL RANGE-1 HYDERABAD. 4. THE CIT(A)-VII HYDERABAD. 5. THE CIT (CENTRAL) HYDERABAD. 6. THE DR B BENCH ITAT HYDERABAD TPRAO