In I.t.t.a v. Agriculture Market Committee (Ap)[[1]] ~~.~~, the High Court (2012) allowed the appeal.
Decision: The order of the Income TaxAppellate Tribunal, Visakhapatnam Bench, dated28.11.2008 in I.T.A.No.111/Vizag/2007 is set aside andthe order of assessment dated 25.09.2006 in respect ofthe assessment year 2004-05 shall stand restored andoperative.
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HON'BLE SRI JUSTICE GODA RAGHURAMANDHON'BLE SRI JUSTICE M.S.RAMACHANDRARAO
I.T.T.A.No.377 of 2012
JUDGMENT: (per Hon’ble Sri Justice Goda Raghuram)
It is represented by Sri S.R.Ashok, learned seniorcounsel on behalf of the appellant-Revenue andconceded on behalf of the respondent-AgriculturalCommittee by Smt K.Lalitha that this appeal requires to beallowed in terms of the judgment of this Court in CIT V.Agriculture Market Committee (AP)[[1]].
In view of the conjoint statement, the appeal of theRevenue is allowed. The order of the Income TaxAppellate Tribunal, Visakhapatnam Bench, dated28.11.2008 in I.T.A.No.111/Vizag/2007 is set aside andthe order of assessment dated 25.09.2006 in respect ofthe assessment year 2004-05 shall stand restored andoperative. No costs.
______________________
JUSTICE GODA RAGHURAM
06[th] November 2012DR
__________________________
JUSTICE M.S.RAMACHANDRA RAO
[1](2011)337 ITR 299
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