ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-3(2), HYDERABAD vs. SAI ANUPAMA AGENCIES PRIVATE LIMITED, HYDERABAD

आयकर अपीलीय अधिकरण, हैदराबाद पीठ में
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES “B”, HYDERABAD

BEFORE
SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER
&
SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER
(Hybrid Hearing)

आ.अपी.सं / ITA Nos. 296, 297, 298, 299, 300 and 301 /Hyd/ 2021
(निर्धारण वर्ा / Assessment Year: 2016-17)
ITA Nos
Assessee/Appellant
Revenue/Respondent
296/Hyd/2021 Venkatarama Sanjivaraya Sarma
Perubhotla [PAN : ACUPP3643C]
ACIT, Central Circle-3(2),
Hyderabad
297/Hyd/2021 Jayasri Agencies Private Limited
[PAN :AABCJ0116E]
ACIT, Central Circle-3(2),
Hyderabad
298/Hyd/2021 Greater Golconda Estates Private
Limited [PAN :AACCG6418K]
ACIT, Central Circle-3(2),
Hyderabad
299/Hyd/2021 Sai Keerti Constructions Private
Limited [PAN :AAFCS8310R]
ACIT, Central Circle-3(2),
Hyderabad
300/Hyd/2021 Sai Anupama Agencies Private limited [PAN:AAFCS8391E]
ACIT, Central Circle-3(2),
Hyderabad
301/Hyd/2021 Sai Pavan Estates Private Limited
[PAN :AAFCS8399N]
ACIT, Central Circle-3(2),
Hyderabad

आ.अपी.सं / ITA No.542/Hyd/ 2021
(निर्धारण वर्ा / Assessment Year: 2017-18)
542/Hyd/2021 Greater Golconda Estates Private
Limited [PAN :AACCG6418K]
ACIT, Central Circle-3(2),
Hyderabad

आ.अपी.सं / ITA Nos.309, 311, 313, 314, 315 and 316 /Hyd/ 2021
(निर्धारण वर्ा / Assessment Year: 2012-13)

ITA Nos
Revenue/Appellant
Assessee/Respondent
309/Hyd/2021
ACIT, Central Circle-3(2),
Hyderabad
Jayasri Agencies Private Limited
[PAN :AABCJ0116E]
311/Hyd/2021
ACIT, Central Circle-3(2),
Hyderabad
Sai Pavan Estates Private Limited
[PAN :AAFCS8399N]
313/Hyd/2021
ACIT, Central Circle-3(2),
Hyderabad
India Telecom Finance Corporation
Limited [AACCI2488R]
314/Hyd/2021
ACIT, Central Circle-3(2),
Hyderabad
Sai Keerti Constructions Private Limited
[PAN :AAFCS8310R]
315/Hyd/2021
ACIT, Central Circle-3(2),
Hyderabad
Greater Golconda Estates Private
Limited [PAN :AACCG6418K]
316/Hyd/2021
ACIT, Central Circle-3(2),
Hyderabad
Sai Anupama Agencies Private Limited
[PAN:AAFCS8391E]

आ.अपी.सं / ITA No. 317 to 323/Hyd/2021 and 3 and 4/Hyd/2022
(निर्धारण वर्ा / Assessment Year: 2014-15)

ITA Nos
Revenue/Appellant
Assessee/Respondent
317/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
Sai Anupama Agencies Private limited [PAN:AAFCS8391E]
318/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
Jayasri Agencies Private Limited
[PAN :AABCJ0116E]
319/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
Sai Keerti Constructions Private Limited
[PAN :AAFCS8310R]
320/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
Sai Pavan Estates Private Limited
[PAN :AAFCS8399N]
321/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
Greater Golconda Estates Private
Limited [PAN :AACCG6418K]
322/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
India Telecom Finance Corporation
Limited [PAN : AACCI2488R]
323/Hyd/2021 ACIT, Central Circle-3(2),
Hyderabad
Ponnapula Sanjeeva Parthasarathy
[PAN : AJMPP5829K]

3/Hyd/2022
ACIT, Central Circle-3(2),
Hyderabad
Trinity Infraventures Limited
[PAN : AABCG1937G]
4/Hyd/2022
ACIT, Central Circle-3(2),
Hyderabad
Indrani Prasad
[PAN : AANPI5216K]

आ.अपी.सं / ITA No. 310, 312, 324, 325, 326 and 327/Hyd/2021
(निर्धारण वर्ा / Assessment Year: 2016-17)

ITA Nos
Revenue/Appellant
Assessee/Respondent
310/Hyd/2021
ACIT, Central Circle, 3(2)
Hyderabad
Jayasri Agencies Private Limited
[PAN :AABCJ0116E]
312/Hyd/2021
ACIT, Central Circle, 3(2)
Hyderabad
Sai Pavan Estates Private Limited
[PAN :AAFCS8399N]
324/Hyd/2021
ACIT, Central Circle, 3(2)
Hyderabad
Sai Anupama Agencies Private limited [PAN:AAFCS8391E]
325/Hyd/2021
ACIT, Central Circle, 3(2)
Hyderabad
Sai Keerti Constructions Private
Limited [PAN :AAFCS8310R]
326/Hyd/2021
ACIT, Central Circle, 3(2)
Hyderabad
Greater Golconda Estates Private
Limited [PAN :AACCG6418K]
327/Hyd/2021
ACIT, Central Circle, 3(2)
Hyderabad
Venkatarama Sanjivaraya Sarma
Perubhotla [PAN : ACUPP3643C]

निर्धाररती द्वधरध/Assessee by: Shri K.Murali Mohan Rao, AR
रधजस्‍व द्वधरध/Revenue by:
Smt.M.Narmada, CIT-DR
Shri SPG Mudaliar,DR

सुिवधई की तधरीख/Date of hearing:
06/02/2025
26/02/2025
घोर्णध की तधरीख/Pronouncement on: 19/03/2025

आदेश / ORDER
PER BENCH :

Challenging the orders of the Commissioner of Income Tax (Appeals) for the assessment years 2012-13, 2014-15, 2016-17 and 2017-18, both the Revenue and Assessee preferred these appeals. Since the facts involved in all these appeals are same, we deem it just and convenient to dispose of all these appeals by way of this common order. However, based on the nature of addition and the common issues involved, we classify these appeals into certain groups for convenient disposal.
2. Brief facts necessary for disposal of these appeals are that pursuant to the search operations under section 132 of the Income Tax Act, 1961 (for short “the Act”) conducted in the case of M/s Goldstone Infratech Ltd and its other associated Companies on 9/11/2017 and basing on the material and enquiries pursuant thereto, notices under section 153A/153C of the Act were issued and on filing of the returns of income by the assessees, learned
Assessing Officer completed the assessments by making certain additions. In appeal before the learned CIT(A), learned CIT(A) deleted certain additions against which the Revenue preferred appeals, and confirmed certain additions against which the assessees preferred appeals.
3. Inasmuch as many issues are common, as stated above, we deem it just and convenient to dispose of these appeals by way of this common order. Having heard the arguments and gone through the record, we find that in all the appeals filed by the assessees the learned CIT(A) confirmed the additions made by the learned Assessing Officer in respect of the lands which were the subject matter of the litigation in CS No. 14 of 1958 on the file of the Hon’ble High Court of Andhra Pradesh and subjected to the intervention by the State. Since the issue is common in all the appeals filed by the 5

assessees in this batch of appeals, we proceed to decide such an issue of all the appeals together under one discussion.
4. So also, in all the appeals preferred by the Revenue for the assessment year 2012-13, the subject matter was the addition made based on the relinquishment deed dated 3/12/2011, in respect of which the learned
CIT(A) granted relief stating that as on the date of the execution of the relinquishment deed, the releasers did not have any right, title or interest retained in them having executed the sale deed dated 2/1/2006. Since the common question that had arisen in this batch of appeals is the impact of the relinquishment deed dated 3/12/2011 and consequent transfer if any, we decide the same by way of a common finding in all such appeals.
5. Next coming to the appeals of the Revenue for the assessment year
2014-15 related to a question answered by the learned CIT(A) in favour of the assessees stating that when once the assessees, having received the entire sale consideration and executed the sale deed on 2/1/2006 and presented the same on the same day before the Sub