In Itta/639/2014 Of Commissioner Of Income Tax-Iii v. M/S P.l.reddy And Co, the High Court (2014) dismissed the appeal. The decision went in favour of the assessee.
Decision: The appeal is accordingly dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAAND
THE HON’BLE SRI JUSTICE SANJAY KUMAR
I.T.T.A. No.639 of 2014
DATED:29.10.2014
Between:Commissioner of Income Tax-III,Hyderabad.
And
… Appellant
M/s. P.L. Reddy & Co.,Hyderabad.
….Respondent
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAANDTHE HON’BLE SRI JUSTICE SANJAY KUMAR
I.T.T.A. No.639 of 2014
Judgment :(per the Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta)
We are not inclined to interfere in this matter at this stage as the matterhas been remitted back by the learned Tribunal to the file of the AssessingOfficer as it was found that the income was disproportionate to the books ofaccounts.
The appeal is accordingly dismissed. No order as to costs.
__________________
K.J. SENGUPTA, CJ
29[th] October, 2014
_________________
SANJAY KUMAR, J
Pnb
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