Itta/46/2002 Of Commr Of Income Tax Vijayawada v. M/S.sri Vani Enterprisess Vijayawada

THE HON’BLE SRI JUSTICE L.NARASIMHA REDDYANDTHE HON’BLE SRI JUSTICE CHALLA KODANDARAMI.T.T.A.No.46 of 2002JUDGMENT: (Per LNR,J) This appeal is preferred under Section 260-A of theIncome Tax Act, 1961 (for short ‘the Act’) by theCommissioner of Income Tax, Vijayawada, feelingaggrieved by the order, dated 28.02.2001 passed by theVisakhapantam Bench of the Income Tax AppellateTribunal. The question that is urged in this appeal is as towhether the respondent herein shall be treated asassociation of persons or firm or an individual assessee.The assessing officer treated the respondent asassociation of persons. In the appeal preferred by therespondent, the Commissioner of Income Tax (Appeals)directed that it shall be treated as a firm. In the furtherappeal preferred by the Department, the Tribunal directedthat the assessment in respect of the property, inquestion, shall be made on individual basis according tothe shares of the respective co-owners. Sri J.V.Prasad, learned counsel for the appellantand Sri A.V.Krishna Kowndinya, learned counsel for therespondent have advanced extensive arguments in theappeal. However, we do not intend to deal with the matterin detail, in view of the fact that the tax impact is toomeagre and less than the ceiling stipulated by theGovernment in the orders issued in exercise of powerunder Section 268-A of the Act. The appeal is accordingly dismissed. The miscellaneous petition filed in this appeal shallalso stand disposed of. There shall be no order as tocosts. ____________________ L.NARASIMHA REDDY, J ______________________ CHALLA KODANDA RAM, J Date: 23.07.2014JSU THE HON’BLE SRI JUSTICE L.NARASIMHA REDDYANDTHE HON’BLE SRI JUSTICE CHALLA KODANDA RAM JSU I.T.T.A.No.46 of 2002 Date: 23.07.2014