Itta/254/2012 Of The Commissioner Of Income Tax v. M/S. Natural Vanaspathi

THE HONOURABLE SRI JUSTICE GODA RAGHURAMANDTHE HONOURABLE SRI JUSTICE M.S.RAMACHANDRA RAO ITTA No. 254 of 2012 Dated: 17-7-2012 Between: The Commissioner of Income Tax,Central Circle, Hyderabad And M/s Natural Vanaspathi (formerly known asKedia Vanaspathi Ltd.),Hyderabad …Appellant …Respondent. Judgment(Per Hon’ble Sri Justice Goda Raghuram) Heard Sri J.V.Prasad, learned Senior Standing Counsel for theIncome Tax. No question of law arises for consideration in this appeal by theRevenue under Section 260A of the Income Tax Act, 1961. The Income Tax Appellate Tribunal, Hyderabad Bench (for short‘the Tribunal’) vide its order under appeal has held, on a cogentconsideration of the evidence and the material on record that in view ofthe certificate of commissioning issued by the Tamil Nadu ElectricityBoard; invoices raised by the assessee on TNEB for sale of electricityfor the period 30-3-1996 to 31-3-1996; and advance receipts issued bythe assessee for the payment to be received from the TNEB, for theaforesaid period, not having been shown to be or even pleaded to befabricated, the conclusion is irresistible that the assessee was theowner of the generator and had also used the same during the yearunder consideration i.e., the Assessment year 1996-97. On the aforesaid view of the matter, the appeal is dismissed atthe stage of admission. No costs. _________________________ GODA RAGHURAM, J 17[th ]July, 2012 GRR _______________________________ M.S.RAMACHANDRA RAO, J