Rc/4/2002 Of Commissioner Of Income Tax Ap Ii Hyd v. M/S United Construction Co Hyd

HON’BLE SRI JUSTICE L. NARASIMHA REDDYANDHON’BLE SRI JUSTICE CHALLA KODANDA RAM REFERRED CASE No. 4 OF 2002 09-07-2014 BETWEEN The Commissioner of Income Tax, A.P. II, Hyderabad …Petitioner And M/s. United Construction Co., Hyderabad …..Respondent HON’BLE SRI JUSTICE L. NARASIMHA REDDYANDHON’BLE SRI JUSTICE CHALLA KODANDA RAM REFERRED CASE No. 4 OF 2002 ORDER:(per the Hon'ble Sri Justice L. Narasimha Reddy) This reference is under Section 256 (2) of the Income TaxAct, 1961 (for short ‘the Act’) at the instance of the Revenue. We have perused the record and heard Sri S.R. Ashok,learned Senior Counsel for the Revenue and Sri J.V. Prasad,learned counsel for the applicant. The necessity for us to deal with matter in detail is obviatedon account of the fact that the tax impact is meagre. To beprecise, the assessee declared his income as Rs.1,85,000/-,whereas in exercise of the power under Section 263 of the Act, the Commissioner has enhanced the same to Rs.2,40,000/-. Thedifference of income is Rs.55,000/-. The tax impact therein is toomeagre. Therefore, we decline to answer the question. ___________________________ L. NARASIMHA REDDY, J 09-07-2014 ks ____________________________ CHALLA KODANDA RAM, J