Itta/505/2012 Of Commissioner Of Income Tax V v. M/S. Essvy Constructions
High Court
16 Jul 2013 In favour of: Assessee
Forum / Bench
High Court · taphc
Parties
Itta/505/2012 Of Commissioner Of Income Tax V v. M/S. Essvy Constructions
Date of order
16 Jul 2013
Assessment year(s)
—
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In Itta/505/2012 Of Commissioner Of Income Tax V v. M/S. Essvy Constructions, the High Court (2013) dismissed the appeal. The decision went in favour of the assessee.
Decision: Therefore, we do not find any reason to interfere with the same.Accordingly, the appeal is dismissed. _____________________ K.J.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND
THE HON’BLE Ms. JUSTICE G. ROHINI
I.T.T.A. No.505 OF 2012
Date: 16.07.2013
Between:
Commissioner of Income Tax-V,Hyderabad.
….Appellant
And
M/s Essvy Constructions,
Secunderabad.
…Respondent
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAAND
THE HON’BLE Ms. JUSTICE G. ROHINI
I.T.T.A. No. 505 of 2012
ORDER:(Per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta)
We have heard Sri B.Narasimha Sarma, learned counsel for theappellant and gone through the impugned judgment and order of thelearned Tribunal.
It appears that the learned Tribunal has found that there was someinterest income and such income has no nexus with the business.
Therefore, the income from interest was not treated to be income frombusiness and directed to be treated as income from other sources. We think that the learned Tribunal has taken a right decision underthe law. Therefore, we do not find any reason to interfere with the same.Accordingly, the appeal is dismissed.
_____________________ K.J. SENGUPTA, CJ
Date: 16.07.2013KLP/ES
______________G. ROHINI, J
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