ACIT, CIRCLE-2(1), HYDERABAD vs. Y S JAGAN MOHAN REDDY, KADAPA

In the result, cross objection filed by the assessee is\nallowed

TDS” and accordingly notice u/s 143(2) of Income Tax Act,\n1961 (“the Act”) dated 08.09.2012 was issued and served on the\nassessee on 13.09.2012 by the DCIT, Circle-2(3), Hyderabad.\nSubsequently, as per action plan of the Board, the case was\npicked up by the Additional Commissioner of Income Tax, Range-\n2, Hyderabad for completion of scrutiny assessment

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FOODS FARM ESTATES INDIA PRIVATE LIMITED, HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED , HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED, HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED, HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED, HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED, HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD vs. AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED, HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

AGRI GOLD FARM ESTATES INDIA PRIVATE LIMTED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

Accordingly. The grounds of appeals of both the assessee and the Revenue for the assessment year 2011-12 are accordingly treated as allowed for statistical purpose

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyआ.अपी.सं निर्धारण अपीलधर्थी प्रत् यर्थी वर्ा/ A.Y. / Ita No. / Appellant / Respondent 202/Hyd/2018 2009-10 1222/Hyd/2018 2010-11

56(2)(vii)(a) of the Act, cash credit under section 68 of the Act and interest income. Learned Assessing Officer made an addition on account of business income by estimating the same at 15% of the gross receipts keeping in view the line of business of the assessee and also that there are certain deficiencies in making huge cash

ARKAMITRA REALTERS PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

TDS claim is Rs.88, 77,780/- only. In view thereof, the Assessing Officer is directed to adopt the revised working, as per remand report, for calculation of the Fair Market Value of the shares and calculate the deemed income u/s.56(2)(viia)(ii) accordingly. In the result, the grounds related to this issue are PARTLY ALLOWED.” 7. Aggrieved with such

BUDHAPALITA TIMBER ESTATES PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

TDS claim is Rs.88, 77,780/- only. In view thereof, the Assessing Officer is directed to adopt the revised working, as per remand report, for calculation of the Fair Market Value of the shares and calculate the deemed income u/s.56(2)(viia)(ii) accordingly. In the result, the grounds related to this issue are PARTLY ALLOWED.” 7. Aggrieved with such

GREENWOOD INFRACON INDIA PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

TDS claim is Rs.88, 77,780/- only. In view thereof, the Assessing Officer is directed to adopt the revised working, as per remand report, for calculation of the Fair Market Value of the shares and calculate the deemed income u/s.56(2)(viia)(ii) accordingly. In the result, the grounds related to this issue are PARTLY ALLOWED.” 7. Aggrieved with such

AMRUTHA AGRO ESTATES PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

TDS claim is Rs.88, 77,780/- only. In view thereof, the Assessing Officer is directed to adopt the revised working, as per remand report, for calculation of the Fair Market Value of the shares and calculate the deemed income u/s.56(2)(viia)(ii) accordingly. In the result, the grounds related to this issue are PARTLY ALLOWED.” 7. Aggrieved with such