In Itta/611/2014 Of Commissioner Of Income Tax v. N Sreenatha Reddy [Huf], the High Court (2014) dismissed the appeal. The decision went in favour of the assessee.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
HIGH COURT OF JUDICATURE AT HYDERABADFOR THE STATE OF TELANGANA AND THE STATE OF ANDHRAPRADESH
PRESENT
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA ANDTHE HON’BLE SRI JUSTICE SANJAY KUMAR
I.T.T.A.No.611 OF 2014
DATED: 10.09.2014
Between:
Commissioner of Income Tax
… Appellant
and
Shri N.Sreenatha Reddy (HUF)
… Respondent
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTAANDTHE HON’BLE SRI JUSTICE SANJAY KUMAR
I.T.T.A.No.611 of2014
JUDGMENT:(per the Hon’ble The Chief Justice Sri Kalyan Jyoti Sengupta)
We dismiss this appeal as we are of the view that theTribunal has estimated the income and acceptance ofbooks of account of the assessee is the absolute discretionof the authority. No order as to costs.
Pending miscellaneous petitions, if any, shall standclosed.
10[th] SEPTEMBER, 2014.
___________________
K.J. SENGUPTA, CJ
__________________
SANJAY KUMAR, J
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