C. Sanyasi Raju v. The Assistant Commissioner of Income-tax, Central Circle, Vizag
[Citation -2017-LL-1121-32]

Citation 2017-LL-1121-32
Appellant Name C. Sanyasi Raju
Respondent Name The Assistant Commissioner of Income-tax, Central Circle, Vizag
Court HIGH COURT OF HYDERABAD FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH
Relevant Act Income-tax
Date of Order 21/11/2017
Judgment View Judgment
Keyword Tags undisclosed income • unexplained investment • unexplained cash
Bot Summary: Whether on the facts and circumstances of the case, the Tribunal is justified in upholding that the transactions which have already been passed through the books of accounts forming part of the accounts based on which the returns of income were filed, could be processed in the block assessment when these transactions formed part of assessment proceedings under the regular assessment. Whether on the facts and circumstances of the case the Tribunal is justified in upholding the assessment of Rs.4,90,000/- as alleged unexplained cash investment in M/s. Srinivasa Marine Exports India Pvt. Ltd. As undisclosed income in the block assessment made on the appellant. Whether on the facts and circumstances of the case, the Tribunal is justified in upholding the assessment of Rs.6,00,000/- towards alleged cash investment in the shares in the promoters quota allotted in the names Shri Suresh and M/s. Girija Ferro Alloys Ltd. in the company viz Srinivasa Ferro Alloys Ltd. as undisclosed income in the block assessment made on the appellant. Whether on the facts and circumstances of the case of Tribunal is justified in upholding the assessment of Rs.1,02,000/- towards alleged investment in the shares of employees quota in Srinivasa Ferro Alloys Ltd. as undisclosed income in the block assessment made on the appellant. Whether on the facts and circumstances of the case the Tribunal is justified in upholding the assessment of Rs.45,603/- as alleged unexplained cash as undisclosed income of the appellant in the block assessment made on the appellant. Whether on the facts and circumstances of the case the Tribunal is justified in upholding the assessment of cash balance of Rs.45,603/- as undisclosed income in the block assessment of the appellant without giving an adequate to the appellant to furnish proper letters of confirmation. As regards question No. 1, though it indeed raised a substantial question of law, a perusal of the record before the Tribunal does not show that such a question has been raised before it on behalf of the assessee.


THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY AND HON'BLE SRI JUSTICE T.AMARNATH GOUD I.T.T.A.No. 7 OF 2005 DATED 21ST NOVEMBER, 2017 Between: C.Sanyasi Raju Appellant AND Assistant Commissioner of Income Tax, Central Circle, Vizag Respondent Counsel for appellant : Sri Y.Ratnakar Counsel for respondent : Sri K.Raji Reddy COURT MADE FOLLOWING CVNR, J. & TA, J. 2 itta_7_2005 JUDGMENT: (per Hon'ble Sri Justice C.V.Nagarjuna Reddy) Feeling aggrieved by dismissal of I.T.(SS).A.No. 5/V/97 by Income Tax Appellate Tribunal, Visakhapatnam (for short, 'the Tribunal'), assessee filed this appeal. 2. In this appeal, assessee raised following questions terming them as substantial questions of law: "1. Whether on facts and circumstances of case, Tribunal is justified in upholding that transactions which have already been passed through books of accounts forming part of accounts based on which returns of income were filed, could be processed in block assessment when these transactions formed part of assessment proceedings under regular assessment. 2. Whether on facts and circumstances of case Tribunal is justified in upholding assessment of Rs.4,90,000/- as alleged unexplained cash investment in M/s. Srinivasa Marine Exports India Pvt. Ltd. As undisclosed income in block assessment made on appellant. 3. Whether on facts and circumstances of case, Tribunal is justified in upholding assessment of Rs.6,00,000/- towards alleged cash investment in shares in promoters quota allotted in names Shri Suresh and M/s. Girija Ferro Alloys Ltd. in company viz Srinivasa Ferro Alloys Ltd. as undisclosed income in block assessment made on appellant. 4. Whether on facts and circumstances of case of Tribunal is justified in upholding assessment of Rs.1,02,000/- towards alleged investment in shares of employees quota in Srinivasa Ferro Alloys Ltd. as undisclosed income in block assessment made on appellant. 5. Whether on facts and circumstances of case Tribunal is justified in upholding assessment of Rs.45,603/- as alleged unexplained cash as undisclosed income of appellant in block assessment made on appellant. 6. Whether on facts and circumstances of case Tribunal is justified in upholding assessment of cash balance of Rs.45,603/- as undisclosed income in block assessment of appellant without giving adequate to appellant to furnish proper letters of confirmation." CVNR, J. & TA, J. 3 itta_7_2005 reading of question Nos. 2 to 6 leaves us in no doubt that they fall in realm of questions of fact which were decided against assessee concurrently by assessing officer as well as Tribunal. Therefore, these questions of fact do not raise any questions of law much less substantial questions of law. As regards question No. 1, though it indeed raised substantial question of law, perusal of record before Tribunal does not show that such question has been raised before it on behalf of assessee. In our opinion, unless ground was raised and finding invited thereon before lower appellate fora, assessee is not entitled to raise it for first time as substantial question of law in appeal before this Court. In this view of matter, we are not inclined to interfere with order of Tribunal confirming order of assessing officer. 3. appeal is accordingly dismissed. C.V.NAGARJUNA REDDY, J. Date: 21-11-2017. T.AMARNATH GOUD, J. JSK C. Sanyasi Raju v. Assistant Commissioner of Income-tax, Central Circle, Vizag
Report Error