THE HONOURABLE SRI JUSTICE GODA RAGHURAM AND THE HONOURABLE SRI JUSTICE N. RAVI SHANKAR ITTA No. 338 of 2011 Dated: 11-10-2011 Between Ahura Holdings, Hyderabad …Appellant And The Deputy Commissioner of Income Tax, Central Circle-2, Hyderabad. …Respondent JUDGMENT: (Per Hon’ble Sri Justice Goda Raghuram) This appeal under Section 260A of the Income Tax Act, 1961 (for short ‘the Act’) is directed against the order of the ITAT, Hyderabad Bench ’A’ dated 26-11-2010 in ITA No. 362/Hyd/2010 pertaining to the Assessment Year 2003-04. The appellant firm is engaged in the business of real estate. A search and seizure was conducted at the residential-cum-business premises of Sri Gopal Lal Badruka, partner of the assessee firm under Section 132 of the Act on 27-6-2006 and it was revealed that the assessee was actively engaged in developing a property at No. 205, Tarbund, Secunderabad Cantonment. The assessee eventually filed return for the Assessment Year 2003-04 admitting a loss of Rs.1,73,191/-. By the order of assessment dated 29-12-2008 the loss claimed was disallowed for the reason that the registration of GPA in respect of the development of property in question was entered into in April, 2003 relating to the Assessment Year 2004-05 and not during the Assessment Year 2002-03 which was under consideration; and for the further reason that the layout sanction was also obtained by Sri Gopal Lal Badruka as the GPA, for part of the land from the Secunderabad Cantonment only in April, 2003, beyond the Assessment Year in question. After an unsuccessful appellate campaign, the appellant preferred a further appeal to the Tribunal which concurred with the findings of the Assessing and Appellate authorities that the appellant commenced business only during the Assessment Year 2004-05 and therefore could not claim loss for the previous assessment year. No question of law let alone a substantial question of law arises for consideration in this appeal. It is accordingly dismissed at the stage of admission. ______________________ GODA RAGHURAM, J 11th October, 2011 ______________________ N. RAVI SHANKAR, J GRR