THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND 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.
… Appellant And Sri Pulla Gangadhar Rao, Hyderabad.
….Respondent THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR
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 9.4.2014 passed 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’ble Tribunal (ITAT) is correct in law in holding that the assumption of jurisdiction under Section 153C of the Income Tax Act, 1961 was invalid thereby declaring that the assessment order as invalid ?
2. In the facts and circumstances of the case, whether the Hon’ble Tribunal (ITAT) is correct in law in holding that the seized document cannot be said to be belonging to the Respondent-assessee despite the fact that the corroborative evidence gathered by the Assessing Officer proved beyond doubt that the Respondent-assessee has entered into the transaction mentioned in the seized document ?
Perusal of the order under appeal, however, reflects that the seized material made no reference to the assessee and therefore could not be the foundation for initiation of proceedings under Section 153-C of the Income Tax Act, 1961. There was no corroborative evidence in support of the seized material either.
In that view of the matter, we are in complete agreement with the order of the learned Tribunal and find no reason to interfere with the same.
The appeal is devoid of merit and is accordingly dismissed. No order as to costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J 29th October, 2014 Pnb