RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

unexplained investment in house property for\nRs.9,08,650/-\n41. During the course of search proceeding, it is\nnoticed that, Mr. Krishna Chandra, son of the assessee had\nmade an investment for purchase of residential Flat-404, 5th\nFloor, Subhalaxmi Apartments, Green Hills Colony,\nKothapet, Hyderabad in January 2005. The assessee was\nasked to clarify the source for such investment

AGARWAL INDUSTRIES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

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

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

Unexplained cash credit in the hands/books of the assessee-company. 8.2 Before me, the appellant submitted that the loan was borrowed from Mrs. Ranjana Agarwal in the FY 2004-05 of Rs.30,00,000/-. This amount was lent by her to another company called M/s. Agarwal Agri & Steel Private limited. This has nothing to do with the appellant company

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

unexplained cash credit. During the\ncourse of appellate proceedings also, in absence of\nsupporting documentary evidence filed by the assessee to\nsubstantiate his case, the learned CIT(A) has sustained the\naddition made by the Assessing Officer. He, therefore\nsubmitted that, the argument of the assessee that, the cash\nreceipts are pertains to Partnership Firm is an afterthought

RAJENDER REDDY GUNNA ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-6, HYDERABAD

unexplained\ninvestment in purchase of Flat held by assessee's son Mr.\nKrishna Chandra, though, there is no evidence that, the\nassessee has invested the same. Therefore, he submitted\nthat, the addition made by the Assessing Officer should be\ndeleted.\n44.\nSri Gurpreet Singh learned Sr. AR for the\nRevenue, on the other hand. supporting the order of the\nAssessing

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

In the result, appeal ITA

unexplained investment in purchase of flat held\nby son Sri Krishna Chandra though there is no evidence that the\nassessee has invested the same.\n7. For these and other grounds that may be urged, it is prayed that\nthe Hon'ble Tribunal may be pleased to allow the appeal.”\n38.\nThe first issue that came-up for consideration\nfrom ground

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

unexplained investment in purchase of flat held\nby son Sri Krishna Chandra though there is no evidence that the\nassessee has invested the same.\n6. The learned CIT(A) though states that the AO has discussed the\nreasons elaborately in the assessment order failed to deal with\nthe submissions of the assessee both at the time of assessment\nand

ANKAA REALTORS,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD

TDS @20%. Therefore, opined that although the assessee firm\nhas filed return of income before the date of search, but the said\nreturn is non-est in the eyes of law. The said returns filed by the\nassessee is beyond the due dates provided u/s 139(5) of the Act.\nTherefore, the Assessing Officer considered the return of income filed

JOSHITA INFRA DEVELOPERS LLP,HYDERABAD vs. ITO., WARD-14(1), HYDERABAD

In the result, the appeal of the Revenue is dismissed

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

unexplained cash credit under Section 68 of the Act. The A.O. further noted that although the assessee has furnished relevant details of commission expenses of Rs. 2,05,32,164/-, but the fact remains that the commission expenditure incurred by the which comes to 21.23% of the total sales. Therefore, it was observed that the same is very high keeping

ITO., WARD 14(1), HYDERABAD vs. JOSHITA INFRA DEVELOPERS LLP, HYDERABAD

In the result, the appeal of the Revenue is dismissed

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

unexplained cash credit under Section 68 of the Act. The A.O. further noted that although the assessee has furnished relevant details of commission expenses of Rs. 2,05,32,164/-, but the fact remains that the commission expenditure incurred by the which comes to 21.23% of the total sales. Therefore, it was observed that the same is very high keeping

GANGADHARAN RENGANATHAN KOMAL,HYDERABAD vs. INCOME TAX OFFICER, WARD-14(1), HYDERABAD

In the result the appeal of the assessee is partly allowed

Bench: SHRI LALIET KUMAR (Judicial Member)

TDS. Upon verifying the mode of professional income/receipts, it was confirmed that income was received via bank transfers without any cash involvement. Additionally, no significant cash withdrawals were noted from the bank account. Hence, the explanation given by the assessee was not accepted by the Assessing Officer and he considered Rs.6,72,000/- as unexplained cash credits

ANKA REALTORS,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOM, HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ANKA REALTORS,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ANKA REALTORS,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ANKAA REALTORS,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE -3(4), HYDERABAD vs. ANKAA REALTORS , HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-3(4) ,HYDERABAD, HYDERABAD vs. ANKAA REALTORS ,HYDERABAD, HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE -3(4) , HYDERABAD vs. ANKAA REALTORS , HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating

ANKAA REALTORS,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD

In the result, appeal filed by the Revenue and assessee for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.71/Hyd/2021 To 75/Hyd/2021 (निर्धारण वर्ा/A.Y.: 2011-12, 2012-13, 2015-16 To 2017-18) Asst.Commissioner Of Vs. M/S Ankaa Realtors Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.102/Hyd/2021 To 108/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2011-12 To 2017-18) M/S Ankaa Realtors Vs. Asst.Commissioner Of Income Tax Hyderabad Central Circle-3(4) [Pan : Abffa0287M] Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 27/11/2024 घोर्णध की तधरीख/Date Of 25/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Cross Appeals Filed By The Revenue & The Assessee Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2011-12 To 2017-18. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue This Common Order.

unexplained cash credit, on the ground that the assessee could not explain the source for cash deposited into the bank account. The assessee explained total amount of additions made by the Assessing Officer, in light of relevant bank statements. On perusal of relevant bank statements of State Bank of Hyderabad, Himayat Nagar Branch, we find that three fixed deposits aggregating