VENKATA RAMA SATYANARAYANA VARMA VEGESNA,VISAKHAPATNAM vs. DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM
In the result, appeal filed by the assessee is allowed
ITA 165/VIZ/2022[2011-12]Status: DisposedITAT Visakhapatnam14 Jul 2023AY 2011-12
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.165/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2011-12) Venkata Rama Satyanarayana Varma Vs. National E-Assesment Centre, Vegesna Delhi 10-50-2, Lazarus Bangalow (Dcit/Acit Waltair Main Road Circle-3(1) Visakhapatnam Visakhapatnam) [Pan : Aagts9608E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shrin C.M.Ravi Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 24.04.2023 घोर्णध की तधरीख/Date Of Pronouncement 14.07.2023 : आदेश /O R D E R Per Shri Duvvuru Rl Reddy: This Appeal Is Filed By The Assessee Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No. Itba/Nfac/S/250/2022- 23/1043814974(1) Dated 12.07.2022, Arising Out Of The Assessment Order Passed By The Assessing Officer (Ao) U/S 271(1)(C) Of The Income Tax Act, 1961 (In Short “Act”) Dated 14.02.2022 For The Assessment Year (A.Y.) 2011-12. 2
For Appellant: Shrin C.M.Ravi Prasad, ARFor Respondent: Shri ON Hari Prasada Rao, DR
Section 143(3)Section 2(22)(e)Section 271(1)(c)
iii) PrakashNarain Singh, New Delhi Vs. Department of Income
Tax, ITAT Delhi in ITA No.2691/Del/2013 dated 22.11.2013. The assessee further submitted that there was ambiguity in arriving at the quantum of assessment by the Assessing Authority.
Hence, the Ld.CIT(A), Visakhapatnam has reduced the income chargeable as deemed dividend from Rs.50,96,573/- to Rs.19,99,999/-. Therefore,
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I.T.A