Rachakatla Yadagiri , Hyderabad Income Tax Officer, Ward-15(2), Hyderabad

Last updated: 24 February 2021

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This Income Tax Appellate Tribunal (ITAT) order addresses six appeals filed by Rachakatla Yadagiri concerning assessment years 2009-10, 2010-11, 2012-13, 2013-14, 2014-15, and 2015-16. The appeals challenge the Commissioner of Income Tax (Appeals) orders regarding the assessment of alleged suppressed gross receipts. The tribunal considered the assessee's grounds seeking to reverse the lower authorities' actions, which involved assessing suppressed receipts at 100% for earlier years and 50% for later years, with partial relief granted by the CIT(A) in some instances.

Court :
ITAT Hyderabad

Brief :
These six assessee’s appeals for AYs.2009-10, 2010-11, 2012-13, 2013-14, 2014-15 & 2015-16 are directed againstthe CIT(A)–7, Hyderabad’s orders; all dated 05-09-2017 except for AY.2015-16 dt.15-02-2018, passed in appeal Nos.512/2016-17, 513/2016-17, 514/2016-17, 515/2016-17, 516/2016-17 & 012/CIT(A)-7/2017-18 involving proceedings u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 [in short, ‘the Act’]

Citation :
ITA 671/Hyd/2018

IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES “A” : HYDERABAD
(THROUGH VIDEO CONFERENCE)

BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER
AND
SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER

For Assessee : Shri B.Shanthi Kumar, AR
For Revenue : Shri Sunil Kumar Pandey, DR

Date of Hearing : 19-01-2021
Date of Pronouncement : 03-02-2021

O R D E R

PER BENCH :

These six assessee’s appeals for AYs.2009-10, 2010-11, 2012-13, 2013-14, 2014-15 & 2015-16 are directed againstthe CIT(A)–7, Hyderabad’s orders; all dated 05-09-2017 except for AY.2015-16 dt.15-02-2018, passed in appeal Nos.512/2016-17, 513/2016-17, 514/2016-17, 515/2016-17, 516/2016-17 & 012/CIT(A)-7/2017-18 involving proceedings u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 [in short, ‘the Act’]

Heard both the parties. Case files perused.

2. It transpires during the course of hearing that the assessee’s identical four substantive grounds raised in theinstant batch of six appeals seeks to reverse both the lower authorities’ action assessing the alleged suppressed gross receipts of Rs.17,05,140/-, Rs.8,74,500/- (in former twoAYs.2009-10 & 2010-11) to the extent of 100% followed bysimilar additions of Rs.1,03,65,275/-, Rs.89,54,524/-, Rs.89,98,282/- and 1,66,10,192/- in latter four assessmentyears to the tune of 50%; in the corresponding assessmentsfollowed by the CIT(A)’s orders granting relief to the extent of 10% (in AYs.2012-13 to 2015-16); respectively.

To know more in details find the attachment file

FAQ :

These appeals concern the assessment of alleged suppressed gross receipts by the Income Tax Officer and the subsequent orders passed by the Commissioner of Income Tax (Appeals).

The appeals cover the assessment years 2009-10, 2010-11, 2012-13, 2013-14, 2014-15, and 2015-16.

For AYs 2009-10 and 2010-11, the suppressed gross receipts of Rs. 17,05,140 and Rs. 8,74,500 were assessed at 100%. For AYs 2012-13 to 2015-16, additions of Rs. 1,03,65,275, Rs. 89,54,524, Rs. 89,98,282, and Rs. 1,66,10,192 were made to the extent of 50%.

Yes, the CIT(A) granted relief to the extent of 10% in assessment years 2012-13 to 2015-16.

The proceedings were initiated under sections 143(3) read with section 147 of the Income Tax Act, 1961.