Deputy Commissioner of Income Tax, Central Circle-1, Guntur vs. Bolisetty Kameswara Rao, Guntur
Appeals are dismissed and the two Cross Objections of the assessee are disposed off accordingly
ITA 186/VIZ/2022[2015-16]Status: DisposedITAT Visakhapatnam07 Feb 2023AY 2015-16
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No. 185 & 186/Viz/2022 ("नधा"रण वष" / Assessment Year :2014-15 & 2015-16) The Deputy Commissioner Of Vs. Sri Bolisetty Kameswara Rao, Income Tax, Central Circle-1, D.No.3-29-40/4, 2Nd Lane, 3Rd Floor, Rajkamal Complex, Krishna Nagar, Lakshmipuram Main Road, Guntur-522006. Guntur-522 007. Pan: Achpb 2189 A (अपीलाथ"/ Appellant) (""यथ"/ Respondent) C.O. No. 18 & 19/Viz/2022 आयकर अपील सं./ I.T.A. No. 185 & 186/Viz/2022 ("नधा"रण वष" / Assessment Year :2014-15 & 2015-16) The Deputy Commissioner Of Vs. Sri Bolisetty Kameswara Rao, Income Tax, Central Circle-1, D.No.3-29-40/4, 2Nd Lane, 3Rd Floor, Rajkamal Complex, Krishna Nagar, Lakshmipuram Main Road, Guntur-522006. Guntur-522 007. Pan: Achpb 2189 A (अपीलाथ"/ Appellant In Appeal) (""यथ"/ Respondent / Cross Objector) अपीलाथ" क" ओर से/ Assessee By : Sri G.V.N. Hari, Advocate ""याथ" क" ओर से / Revenue By : Sri Mn Murthy Naik, Cit-Dr
For Appellant: Sri G.V.N. Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 142(1)Section 143(3)Section 153ASection 153C
…gs of the CIT (A) and ITAT that the assessing officer did not make any further enquiry / investigation in support of the addition made. Similar view was affirmed by the Hon’ble Supreme Court in the case of Pr. CIT vs. Admine Construction (P) Ltd., reported in 99 Taxmann.com 45 (SC). There was no positive evidence such as loose papers, vouchers or agreement between the appellant and M/s. Polisetty Somasundaram found at the premises of the appellant that would confirm the action of the AO in making addition in the hands of the appellant. The loan transaction was between M/s. Polisetty Somasundaram and Durga Marketi…
