LYCOS INTERNET LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

TDS made\n(3)\nTDS remitted\n(4)\nDate\nremittance\n(5)\nof\n\n27. Details of contract/sub-contracts taken/given during the year and copies of\nagreements relating to such contracts.\n28. Please furnish names and complete mailing address of the parties to whom sub\ncontracts were awarded, details of work cost, transportation cost and labor charges\nwere paid.\n29. Details

VICTORY ELECTRICALS LIMITED, MEDCHAL,R.R.DIST vs. DCIT, CIRCLE-17(2), HYDERABAD, HYDERABAD

The appeal of the assessee is allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2012-13 Victory Electricals Ltd., V Dcit,Circle-17(2) Plot No.8, Survey No.855, S. Signature Towers Ida, Medchal, Kondapur Ranga Reddy, Hyderabad Hyderabad-501 401

section 36(1)(vii) of the Act, Our attention was drawn to reply given by the assessee, more particularly at page No.53 & 54 to the following effect “In continuation of the statement of facts, the appellant may be permitted to submit the following explanation: There are three effective grounds in all. The first ground is with regard to disallowance

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) r.w.s. 153A of the Income Tax Act, 1961 on 27.12.2019 and determined the total income at Rs.70,19,036/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 4. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) r.w.s. 153A of the Income Tax Act, 1961 on 27.12.2019 and determined the total income at Rs.70,19,036/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 4. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) r.w.s. 153A of the Income Tax Act, 1961 on 27.12.2019 and determined the total income at Rs.70,19,036/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 4. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) r.w.s. 153A of the Income Tax Act, 1961 on 27.12.2019 and determined the total income at Rs.70,19,036/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 4. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) r.w.s. 153A of the Income Tax Act, 1961 on 27.12.2019 and determined the total income at Rs.70,19,036/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 4. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

BRIGHTCOM GROUP LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(2), HYDERABAD

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

14A of the Act is warranted. Therefore, the disallowance of Rs.2,00,990/- made by the Ld. AO is directed to be deleted. Accordingly, the ground no. 7 of the assessee is allowed. 16. Ground No. 8 raised by the assessee relates to the disallowance of Rs.18,72,836/- made by the Ld. AO on account of CSR expenditure

SLR INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-3(1), HYDERABAD

In the result, the appeal filed by the assessee is allowed

TDS on payments made to sub-contractors in terms of Section 194C of the Act. Filing of return of income by the sub-contractors is not within the domain of the assessee and beyond the control of the assessee. Therefore, non-furnishing of return of income by the sub-contractors is not a ground for disbelieving or doubting the genuineness

NEOVANTAGE INNOVATION PARK PRIVATE LIMITED,HYDERABAD vs. INCOME-TAX OFFICER, WARD 16(3), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

3,4 & 5 are dismissed as no separate adjudication is required on the same. 6. Ground No. 2 of the assessee pertain to a legal issue. During the course of hearing, the Learned Authorised Representative (“Ld. AR”) submitted that the legal issue involved in this ground pertains to the question of judicial discipline and is identical to the issue decided

NEOVANTAGE BIO-TECHNOLOGY PRIVATE LIMITED,HYDERABAD vs. ACIT., CIRCLE 5(1), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

3,4 & 5 are dismissed as no separate adjudication is required on the same. 6. Ground No. 2 of the assessee pertain to a legal issue. During the course of hearing, the Learned Authorised Representative (“Ld. AR”) submitted that the legal issue involved in this ground pertains to the question of judicial discipline and is identical to the issue decided

NALGONDA REALTORS PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Act on 30.12.2019 and admitted total income at Rs.10,12,62,688/- by making addition towards disallowance of finance cost being the interest paid to customers on advance received towards sale of flats / commercial space, disallowance u/s 14A of the Act and addition towards cash deposits during the demonetization period. 28. The assessee carried the matter

NALGONDA REALTORS PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Act on 30.12.2019 and admitted total income at Rs.10,12,62,688/- by making addition towards disallowance of finance cost being the interest paid to customers on advance received towards sale of flats / commercial space, disallowance u/s 14A of the Act and addition towards cash deposits during the demonetization period. 28. The assessee carried the matter

NALGONDA REALTORS PRIVATE LIMITED ,SECUNDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Act on 30.12.2019 and admitted total income at Rs.10,12,62,688/- by making addition towards disallowance of finance cost being the interest paid to customers on advance received towards sale of flats / commercial space, disallowance u/s 14A of the Act and addition towards cash deposits during the demonetization period. 28. The assessee carried the matter

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), HYDERABAD vs. MEGHA ENGINEERING AND INFRASTRUCTURES LIMITED, HYDERABAD

In the result, the appeal filed by the Revenue is partly allowed

Bench: Shri Manjunatha G. Hon’Ble & Shri Prakash Chand Yadav, Hon’Bleassessment Year – 2020-21 The Assistant Commissioner Of Vs. M/S.Megha Engineering & Infrastructure Ltd. Income Tax, Hyderabad. Central Circle – 2(1), Hyderabad. Pan : Aaecm7627A

14A are clear and unambiguous that what is not allowable is "expenditure incurred" for EARNING EXEMPT INCOME and, therefore, such disallowance cannot be restricted to EXEMPT INCOME EARNED.” 3 2.1. The additional ground filed by the Revenue reads as under : “The above issue is fully covered in revenue’s favour by recent Hon'ble Apex Court decision in the case

KASUSALYA SHELTERS PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Income Tax Act, 1961 on 30-12-2019 and determined the total income at Rs.5,68,36,432/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 15. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KASUSALYA SHELTERS PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Income Tax Act, 1961 on 30-12-2019 and determined the total income at Rs.5,68,36,432/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 15. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KAUSALYA AGRO FORMS & DEVELOPERS PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Income Tax Act, 1961 on 30-12-2019 and determined the total income at Rs.5,90,24,176/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 15. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance

KAUSALYA AGRO FORMS & DEVELOPERS PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

3) of the Income Tax Act, 1961 on 30-12-2019 and determined the total income at Rs.5,90,24,176/- by making additions towards disallowance of finance charges and disallowance under Section 14A of the Act. 15. On appeal, the ld. CIT(A) for the reasons stated in their order dated 18.09.2020 had confirmed the addition made towards disallowance