KAVYA AVENUES LLP,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

PDF · subscribers
ITA 363/VIZ/2025Status: DisposedITAT Visakhapatnam04 September 2025AY 2021-2212 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The CIT(A) partly allowed the assessee's appeal. The Tribunal is hearing cross-appeals regarding the addition of on-money received and the estimation of profit.

What were the facts?

During a search operation, unaccounted cash receipts related to the sale of flats were found. The assessee claimed the cash was paid to a third party for additional works, not to the firm. The Assessing Officer (AO) added this amount as undisclosed income.

What were the issues?

Whether the unaccounted cash receipts from flat sales constitute undisclosed income of the assessee firm, and if so, what is the appropriate addition. The estimation of profit on turnover is also an issue.

Which sections of the Income-tax Act were involved?

Section 132,Section 143(3),Section 142(1),Section 69A,Section 115BBE,Section 69C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM “DIVISION” BENCH, VISAKHAPATNAM

Before: SHRI DUVVURU RL REDDY, HONBLE & SHRI S BALAKRISHNAN, HONBLE

For Respondent: Shri GVN Hari, Advocate, Shri Badicala Yadagiri, CIT(DR)

Heard together (2 matters)

ITA No. 351/VIZ/2025
ITA No. 363/VIZ/2025

Read from the judgment's own cause title. This page is filed under one of them.

आदेश की प्रतततिति अग्रेतषत/ Copy of the order forwarded to:- 1. तिर्ााररती/ The Assessee : M/s. Kavya Avenues LLP 7-5-64, Ground Floor Pandurangapuram Visakhapatnam – 530003 Andhra Pradesh 2. राजस्व/ The Revenue : DCIT – Central Circle – 1 5th Floor, Direct Taxes Building MVP Colony, Visakhapatnam – 530017 Andhra Pradesh 3. The Principal Commissioner of Income Tax 4. तिभागीय प्रतततितर्, आयकरअिीिीयअतर्करण, तिशाखािटणम /DR,ITAT, Visakhapatnam 5. The Commissioner of Income Tax 6. गार्ाफ़ाईि / Guard file आदेशािुसार / BY ORDER

Sr. Private Secretary ITAT, Visakhapatnam

Page No. 12

More judgments on Section 132

All 14,598 judgments and leading authorities on Section 132 →

Recent GST High Court judgments

Search GST case law →