ACIT., CIRCLE-5(1), HYDERABAD vs. LAKSHMI TECHNOSOLUTIONS PRIVATE LIMITED, HYDERABAD
ITA No 925 of 2025 Lakshmi Technosolutions P Ltd
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आयकर अपीलȣय अͬधकरण, हैदराबाद पीठ
IN THE INCOME TAX APPELLATE TRIBUNAL
Hyderabad ‘DB-B ‘ Bench, Hyderabad
Before Shri Vijay Pal Rao, Vice-President
A N D
Shri Manjunatha, G. Accountant Member
आ.अपी.सं /ITA No.925/Hyd/2025
(िनधाŊरण वषŊ/Assessment Year: 2014-15)
ACIT
CIRCLE-5(1),
HYDERABAD
Vs.
M/s LAKSHMI
TECHNOSOLUTIONS
PRIVATE LIMITED,
HYDERABAD
PAN:
(Appellant)
(Respondent)
िनधाŊįरती Ȫारा/Assessee by:
Shri H. Srinivasulu, Advocate
राज̾ व Ȫारा/Revenue by::
Dr.Narender Kumar Naik CIT(DR)
सुनवाई की तारीख/Date of hearing:
26/08/2025
घोषणा की तारीख/Pronouncement: 24/09/2025
आदेश/ORDER
Per Vijay Pal Rao, Vice President
This appeal by the Revenue is directed against the order dated 27/03/2025 of the learned CIT (A)-NFAC Delhi, for the A.Y.2014-15. 2. The Revenue has raised the following grounds of appeal:
ITA No 925 of 2025 Lakshmi Technosolutions P Ltd
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The assessee company is engaged in the business of BPO & Software Development Services, filed its return of income for the year under consideration on 17/02/2015 declaring loss of Rs.1,85,744/-. The return was processed u/s 143(1) of the Act on ITA No 925 of 2025 Lakshmi Technosolutions P Ltd Page 3 of 23
19/05/2025 and no scrutiny assessment was made for the year under consideration. In the scrutiny assessment proceedings for the A.Y 2017-18 completed on 13/12/2019, the Assessing Officer noted that the assessee has sold 8 Flats for a total consideration of Rs.3,13,54,340/- and admitted the capital gain on the same.
On further verification, the Assessing Officer observed that the Flats sold by the assessee during the financial year 2016-17 were received by the assessee on account of development agreement entered into by it with M/s. Sri Balajee Nirman & Estates, on 16/12/2013. Based on this fact of development agreement entered into by the assessee with M/s. Sri Balajee Nirman &
Estates on 16/12/2013, duly registered with the Sub