IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HONOURABLE SRI JUSTICE P.SAM KOSHY AND THE HONOURABLE SRI JUSTICE SUDDALA CHALAPATHI RAO ITTA No.4 OF 2010

10.12.2025 Between:

M/s Raghava Ratna Poultry Farm, 7^th Floor,Raghava Ratna Towers, Abids, Hyderabad.

…Appellant A N D Assistant Commissioner of Income Tax, Circle-3(4), Hyderabad.

…Respondent JUDGMENT : (per Hon’ble Sri Justice P.Sam Koshy)

Heard Mr. Prudhviraj Mattapally, learned counsel representing Mr. K.Raji Reddy, learned counsel for the appellant, and Ms. B.Swapna, learned Senior Standing Counsel for the Income Tax Department for the respondent. Perused the record.

2. The instant appeal is one which has been filed by the assessee assailing the order passed by the Income Tax Appellate Tribunal ‘A’ Bench, Hyderabad in I.T.A.No.508/Hyd/03 for the assessment year 1998-99.

3. The point of issue involved in this appeal is pertaining to the credit advance received by the appellant for the assessment year 1998-99 in respect of the financial year 1997-98. The credit advance was of Rs.5 lakhs of one lakh each from 5 different individuals whose names are reflected in paragraph 3 of the order of the ITAT. For ready reference,