Itta/369/2014 Of The Commissione Of Income Tax (Central) v. Kishoresons Detergents Pvt Ltd

IN THE HIGH COURT OF JUDICATURE AT HYDERABADFOR THE STATE OF TELANGANA AND THE STATE OF ANDHRAPRADESH THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAANDTHE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No. 369 of 2014 Date: 20.06.2014 Between: The Commissioner of Income Tax (Central),Hyderabad. … Appellant And M/s. Kishoresons Detergents Pvt., Ltd.,Hyderabad. … Respondent This Court made the following: THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAANDTHE HON’BLE SRI JUSTICE SANJAY KUMARI.T.T.A. No. 369 of 2014 JUDGMENT:(Per the Hon’ble The Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is sought to be preferred and admitted against the impugned judgment and order of the learned Tribunal in relation to the assessment year 2006-07 on the following suggested question of law. “Whether on the facts and in the circumstances of the case,the Tribunal is correct in law in holding that the Assessing Officer isrequired to confine himself only to the material found during thecourse of search for the purpose of computing the income u/s.153A/153C?” It appears that the Assessing Officer without rejecting the booksof accounts had estimated the income. The Commissioner of IncomeTax (Appeals) found that without rejecting the books of accounts,estimation of income is not permissible and such an exercise, accordingto him, is not sustainable. In fact, the learned Tribunal found that therewas no incriminating evidence to prove that unaccounted incomes weregenerated by suppression of profit. In view of the above findings of the authorities, we do not seeany reason to interfere with the judgment and order of the learnedTribunal. The appeal is accordingly dismissed. Miscellaneous petitions, if any, pending in this writ petition shallstand dismissed. No order as to costs. Date: 20.06.2014ES ___________________ K.J. SENGUPTA, CJ ___________________SANJAY KUMAR, J