Itta/646/2014 Of Commissioner Of Income Tax-Ii v. Sri Pulla Gangadhar Rao

THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTAAND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No.646 of 2014 DATED:29.10.2014 Between:Commissioner of Income Tax-II,Hyderabad. AndSri Pulla Gangadhar Rao,Hyderabad. … Appellant ….Respondent I.T.T.A. No.646 of 2014 Judgment :(per Hon’ble Sri Justice Sanjay Kumar) This appeal by the Revenue is directed against the order dated 9.4.2014passed by the Income Tax Appellate Tribunal, Hyderabad-A Bench, in I.T.A.No. 2097/Hyd/2011 relatable to the assessment year 2007-08. The following are the suggested substantial questions of law: 1. In the facts and circumstances of the case, whether the Hon’bleTribunal (ITAT) is correct in law in holding that the assumption ofjurisdiction under Section 153C of the Income Tax Act, 1961 was invalidthereby declaring that the assessment order as invalid ? 2. In the facts and circumstances of the case, whether the Hon’bleTribunal (ITAT) is correct in law in holding that the seized documentcannot be said to be belonging to the Respondent-assessee despite thefact that the corroborative evidence gathered by the Assessing Officerproved beyond doubt that the Respondent-assessee has entered intothe transaction mentioned in the seized document ? Perusal of the order under appeal, however, reflects that the seizedmaterial made no reference to the assessee and therefore could not be thefoundation for initiation of proceedings under Section 153-C of the Income TaxAct, 1961. There was no corroborative evidence in support of the seizedmaterial either. In that view of the matter, we are in complete agreement with the order ofthe learned Tribunal and find no reason to interfere with the same. The appeal is devoid of merit and is accordingly dismissed. No order asto costs. __________________ K.J. SENGUPTA, CJ 29[th] October, 2014 _________________ SANJAY KUMAR, J Pnb