2013 (4) TMI 907

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....rasad ORDER PER ASHA VIJAYARAGHAVAN, J.M: This appeal filed by the Revenue is directed against the order passed by the CIT(A) -IV, Hyderabad on 16/10/2012, for assessment years 2009-10. 2. Brief facts of the case are that the assessee had returned an income of Rs. 32,93,341/-, as against the returned income of Rs. 3,68,188/- from his business of retail trade in liquor. In the course of....

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....TA No. 03/Hyd/12, dated 04/05/12. 2. M/s Kanana Durga Wines, ITA No. 591/Hyd/2011, dt. 28.7.2011. 3. M/s Sri Matha Wines, ITA No. 137/Hyd/12, dt. 04/05/12. 4. After considering the submissions of the AR of the assessee, the CIT(A) held that an identical issue has been examined by the jurisdictional ITAT in the subsequent case of M/s Amaravathi Wine Shop in ITA No. 1196/Hyd/2011, dt. 08/06....

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....IT(A), the revenue is in appeal before us and has raised the following grounds of appeal: "1. The learned CIT(A) erred both in law and on facts of the case. 2. The learned CIT(A) erred in relying on Hon'ble ITAT decision in the case of Amaravathi Wine Shop. 3. The learned CIT(A) is not correct in resorting to estimation of income @5% on the cost of goods sold instead of affirming the inco....