Itta/58/2004 Of The Commissioner Of Income Tax v. M/S.tibrewala Electronics

HON’BLE SRI JUSTICE L. NARASIMHA REDDY AND HON’BLE SRI JUSTICE CHALLA KODANDA RAM I.T.T.A No.58 of 2004 JUDGMENT:-(Per Hon’ble Sri Justice L.Narasimha Reddy) This appeal is preferred by the Revenue feeling aggrievedby the order, dated 30.10.2000, passed by the Hyderabad Bench‘A’ of the Income Tax Appellate Tribunal in IT(SS)A/287/H/97. The proceedings arose out of a search conducted in thepremises of the respondent on 20.11.1996 as well as some othersister concerns. In the block assessment proceedings, one of thecontested items was the transaction of purchase of Beer Keggs. While the respondent pleaded that the Beer Keggs purchased by itwere given on lease to an agency in Rajasthan, the Revenue wasof the view that it was a case of outright sale of the articles. IT(SS)A/287/H/97 and IT (SS)A/283/H/97 were filed beforethe Tribunal feeling aggrieved by the order of assessment. TheTribunal passed a common order, dated 30.10.2000, allowing theappeals. The Revenue filed I.T.T.A.No.34 of 2003 challenging thecommon order, dated 30.10.2000, in so far as it related to IT (SS)A/283/H/97. Through an order, dated 27.08.2014,we disposed of the appeal recording the statement made on behalf of the respondent therein that it is agreeable to bring the leaseamount for the Beer Keggs for the entire period of 72 monthsunder the purview of the tax and if the said amount had beensubjected to tax, the Assessing Officer shall pass necessaryorders of implementation in this regard. Learned Standing Counsel for the appellant and the learnedcounsel for the respondent agree for the same course of action. Hence, we dispose of the appeal modifying the order underappeal to the effect that the respondent shall bring the leaseamount for the Beer Keggs leased by it to others for the entirelease period under the purview of the income tax. If the saidamount has been subjected to tax, the Assessing Officer, in turn,shall pass necessary orders of implementation in this regard.There shall be no order as to costs. Miscellaneous petitions, if any, filed in this appeal shall alsostand disposed of. _______________________ L. NARASIMHA REDDY, J Date:03.12.2014 ________________________ CHALLA KODANDA RAM, J kdl