2013 (4) TMI 907

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....RAGHAVAN, 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 ₹ 32,93,341/-, as against the returned income of ₹ 3,68,188/- from his business of retail trade in liquor. In the course of assessment proceedings, the....

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....5/12. 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. 08/06/2012 where it took note of the AC....

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....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 income as assessed by Assessing Officer by esti....