IN THE HIGH COURT OF JUDICATURE AT HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No. 369 of 2014 Date: 20.06.2014 Between:
The Commissioner of Income Tax (Central), Hyderabad.
… Appellant And M/s. Kishoresons Detergents Pvt., Ltd., Hyderabad.
… Respondent This Court made the following:
THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTI SENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No. 369 of 2014 JUDGMENT: (Per the Hon’ble The Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is sought to be preferred and admitted against the impugned judgment and order of the learned Tribunal in relation to the assessment year 2006-07 on the following suggested question of law.
“Whether on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that the Assessing Officer is required to confine himself only to the material found during the course of search for the purpose of computing the income u/s. 153A/153C?”
It appears that the Assessing Officer without rejecting the books of accounts had estimated the income. The Commissioner of Income Tax (Appeals) found that without rejecting the books of accounts, estimation of income is not permissible and such an exercise, according to him, is not sustainable. In fact, the learned Tribunal found that there was no incriminating evidence to prove that unaccounted incomes were generated by suppression of profit.
In view of the above findings of the authorities, we do not see any reason to interfere with the judgment and order of the learned Tribunal.
The appeal is accordingly dismissed.
Miscellaneous petitions, if any, pending in this writ petition shall stand dismissed. No order as to costs.
K.J. SENGUPTA, CJ SANJAY KUMAR, J Date: 20.06.2014 ES