Itta/32/2023 Of M/S. Nanesh Finance Corporation v. Income Tax Appellate Tribunal Hyderabad

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD FRIDAY, THE TWENry EIGHTH DAY OF JULYTWO THOUSAND AND TWENTY THREE PRESENT THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE N.TUKARAMJI INCOME TAX TRIBUNAL APPEAL No: 32 OF 2023 lncome Tax Tribunal Appeal Under Section 260-4 of the lncome Tax Act, againstthe order of the Income Tax Appellate Tribunal, Hyderabad Bench ' B ', Hyderabadin lrA No.465/HYD12021, for assessment Year 2019-20 dated 26-10-2022 preferredagainst the Order of the Commissioner of lncome Tax (Appeals)-1 1, Hyderabad,Appeal No. 1036912018-19 dated:06-09-2021, preterred against the Order of theAssistant Commissioner of lncome Tax, Central Circle-1(2) Hyderabad, pAN/GlRNo.AAlFN2B56M dated 21 -04-2021.the order of the Income Tax Appellate Tribunal, Hyderabad Bench ' B ', Hyderabadin lrA No.465/HYD12021, for assessment Year 2019-20 dated 26-10-2022 preferredagainst the Order of the Commissioner of lncome Tax (Appeals)-1 1, Hyderabad,Appeal No. 1036912018-19 dated:06-09-2021, preterred against the Order of theAssistant Commissioner of lncome Tax, Central Circle-1(2) Hyderabad, pAN/GlRNo.AAlFN2B56M dated 21 -04-2021. Between: M/s. Nanesh Finance Corporation, G-7, Upper Ground Floor, MaheshwariChamber, 6-3-65, Beside Medinova, Somajiguda, Hyderabad, Telangana 5O0Og2Represgnted by-its Partner Smt. Anita Jatn Wo. Sdjjan Raj Jain, A{ed about 5.1years, Office at.6-3-650, G 7, Maheshwari Chamberd, Somdjiguda - SOOOAZ ...Appellant AND Assistant Commissioner of lncome Tax Central Circle-1(2) Hyderabad (Amended as per Court Order dated:2316123 in lA.1 ot 2023) ... Respondent Counsel for the Appellant: SRI MALLU NETHAN REDDY Counsel for the Respondent: None AppearedThe Court made the following: ORAL ORDER t i THE HONOURABLE SRI [P. ] ANDTHE HONOURABLE [N. ] I.T.T.A.No. 32 OF 2o23 ORAL ORDER : 1P(rr [Hon'ble ][Sri ][Iusticc ][P. ][Sam l(oshy)] This Appeal is filed [under ][Section ][2604. ][of ][the ][Income ][Tax]Act, 1 96 I (for short Act, [196 ][1 ][') ][. ][The ][challenge ][is ][to ][the ][Ordcr]date ct 26.I O.2O22 [passed ][b1' ][the ][Income Tax Appellate ][Tribunal]'B', Hyclcrabad (for short'ITAT') [in ][I.T.A.No.465/ ] 12O2L ['] 2. Heard Mr. Mallu [Nethan ][Reddy, ][learned counsel ][for ][the] appcllan t 3. The only point of issue [raised ][by ][the ][learne<l ][counsel for]is in [respect ][of ][thc ][acceptance ][of ][Department with]appellant reference to the cash [seizure ][from ][the ][assessee ][being ][reflected ][in]the books of accounts. [Hor'vever, ][the ][contention ][of ][the ][learned]counsel for appellant is th:rt [even ][though ][the ][Department ][has]accepted the fact that entries [have ][been ][reflected ][in the ][books ][of]accounts, but the same [were ][not ][properly ][appreciated ][and ][the]same were not unaccounted [or reintroduced ][amount.s.] 4. On perusal of the record and on [going ]through'the [hndings]given by the ITAT in the impugned order, particularly, the finding \ reflected in paragraph Nos. 7 [o 9 dealing u.ith the same issuewhich the appellant inlends to raise in the instant appeal, we areof the considered view that the matter agitated by the appellant iswhich the appellant inlends to raise in the instant appeal, we areof the considered view that the matter agitated by the appellant ispurely the question of fact and does not fall in the ambit aquestion of law much less a substantial question of larn,.Therefore, the Appeal being devoid of any subsLance, deserves tobe rejected. Accordingly, the Income Tax Tribunal Appbal isdismissed.Therefore, the Appeal being devoid of any subsLance, deserves tobe rejected. Accordingly, the Income Tax Tribunal Appbal isdismissed. As a sequel, miscellaneous petitions, if any, pending in theAppeal stand dismissed. No order as to costs. Sd/.M.VIJAYA BHASKARJotNr REGts/RAR//TRUE COPY//w/SECTION OFFICER As a sequel, miscellaneous petitions, if any, pending in theAppeal stand dismissed. No order as to costs. Sd/.M.VIJAYA BHASKARJotNr REGts/RAR//TRUE COPY//w/SECTION OFFICER To,'1 . The lncome Tax Appellate Tribunal, Hyderabad Bench ' B IHyderabad.2. The Commissioner of lncome Tax (Appeals)-1 1, Hyderabad.3. The Assistant Commissioner of lncome Tax, Central Circle-1(2) Hyderabad.4. One CC to SRI MALLU NETHAN REDDY, Advocate 5. Two CD Copieso^\/ HIGH COURT DATED:2810712023 ORAL ORDER ITTA.No.3Z of [2023] THE APPEALIS DISMISSED '), :'17 [[llB ][2$8]\Y