DCIT CENTRAL CIRCLE-1(1), HYDERABAD vs. NANITHA CONSTRUCTIONS, HYDERABAD
In the result, appeal filed by the Revenue is dismissed
ITA 504/HYD/2022[2019-20]Status: DisposedITAT Hyderabad28 Apr 2023AY 2019-20
Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2019-20 Dy. C. I. T Vs. Nanitha Constructions Central Circle 1(1) Hyderabad Hyderabad Pan:Aagfn1630D (Appellant) (Respondent) Assessee By: Shri K.C. Devdas, Ca Revenue By: Shri Kprr Murthy, Cit(Dr) Date Of Hearing: 18/04/2023 Date Of Pronouncement: 28/04/2023 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 21.07.2022 Of The Learned Cit (A)-11, Hyderabad, Relating To A.Y.2019-20. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Firm Engaged In The Business Of Contract Works. It Filed Its Return Of Income For The A.Y 2019-20 On 20.09.2019 Declaring Total Income At Rs.4,41,98,240/-. In This Case, A Survey Operation U/S 133A Of The I.T. Act Was Conducted On 22.3.2019 During The Course Of Which The Assessee Had Admitted Additional Income Of Rs.6.00 Crores Voluntarily To Cover Up The Discrepancies In The Books Of Account. However, In The Return Of Income The Assessee
For Appellant: Shri K.C. Devdas, CAFor Respondent: Shri KPRR Murthy, CIT(DR)
Section 133ASection 142(1)Section 143(2)
…he statement, therefore, the learned CIT (A) without considering the statement as a whole was not justified in deleting the addition. 10. Referring to the decision of the Hon'ble Delhi High Court in the case of PCIT vs. Avinash Kumar Setia reported in (2017) 395 ITR 235, he submitted that the Hon'ble High Court in the said decision has stated where the assessee has surrendered certain income by way of declaration and withdraw the same after two years without any satisfactory explanation, it could not be treated as bonafide and, hence, addition would sustain. Page 7 of 14 ITA 504 of 2022 Nanitha Constructions…
