RAM GOPAL,HYDERABAD vs. ITO, WARD-8(2), HYDERABAD

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

Bench: Shri R.K. Panda & Shri Laliet Kumar

Sections 68 and 69C of the Income Tax Act. The entire purchases shown on the basis of fictitious invoices have been debited in the trading account since the transaction has been found to be bogus. The Tribunal having once come to a categorical finding that the amount of Rs. 2,92,93,288/- represented alleged purchases from bogus suppliers

INCOME TAX OFFICER, WARD 17(1), HYDERABAD vs. MAHALAKSHMI LABORATORIES PVT LTD, HYDERABAD

In the result, the appeal of Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

Section 133(6) were sent to 4 Mahalakshmi Laboratories Pvt. Ltd. various suppliers. Further, notice u/s 142(1) of the Act along with questionnaire was issued on 26.07.2022. After availing various opportunities, finally assessee had responded to the notices with the required details. Assessing Officer after verification of the reply submitted by the assessee found that the assessee had taken

MAHALAKSHMI LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ITO, WARD-17(1), HYDERABAD

In the result, the appeal of Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

Section 133(6) were sent to 4 Mahalakshmi Laboratories Pvt. Ltd. various suppliers. Further, notice u/s 142(1) of the Act along with questionnaire was issued on 26.07.2022. After availing various opportunities, finally assessee had responded to the notices with the required details. Assessing Officer after verification of the reply submitted by the assessee found that the assessee had taken

SUNITA DEVI,HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

PRAKASH CHAND JAIN(HUF),HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

ANITA JAIN,HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

SAJJAN RAJ JAIN (HUF),HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

SUNITA DEVI,HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

PREMLATA,HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

SAJJANRAJ JAIN & WIFE (HUF),HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R. K. Pandaappeal In Assessee Department A.Y Ita No 188/Hyd/2022 Smt.Sunita Devi, Hyderabad Acit, Central Circle 2016-17 Pan:Adppd6447C 1(2) Hyderabad 189/Hyd/2022 -Do- -Do- 2017-18 190/Hyd/2022 Smt.Anita Jain, Hyderabad -Do- 2016-17 Pan:Abjpj1532C 191/Hyd/2022 Smt.Premalata, Hyderabad -Do- 2016-17 Pan:Acupp5966A 192/Hyd/2022 Sh. Prakash Chand Jain -Do- 2016-17 (Huf) Hyderabad Pan:Aadhp6992D 194/Hyd/2022 Shri Sajjan Raj Jain (Huf) -Do- 2016-17 Hyderabad Pan:Aaghs6338K 195/Hyd/2022 Sh.Sajjanraj Jain & Wife -Do- -Do- (Huf) Hyderabad

section 10(38) of the I.T. Act. During the course of search proceedings, the assessee voluntarily submitted a letter to withdraw the LTCG claimed u/s 10(38) of the Ac and to offer the same to income returned. 3. Subsequently, the case was reopened by recording reasons and notice u/s 148 of the Act was issued on 12.02.2021. In response

DCIT., CIRCLE 3(1), HYDERABAD vs. ROHINI MINERALS PRIVATE LIMITED, HYDERABAD

In the result, all the three appeals filed by the Revenue for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.980/Hyd/2024, 1079/Hyd/2024 & 1080/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2018-19, 2014-15 & 2015-16) Dcit Vs. M/S Rohini Minerals Circle-3(1) Private Limited Hyderabad Hyderabad [Pan :Aaccr0773N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.K.Gupta, Ar रधजस् व द्वधरध/Revenue By: Shri B Bala Krishna, Cit-Dr Shri Srinath Sadanala, Sr.Ar

10. Coming back to the purchases made by the assessee from M/s Jagannatha Agro Ltd. Admittedly, the assessee had made purchases of Rs.2,36,00,792/- from M/s Jagannath Agro Ltd. and to justify the purchases from the above company, furnished all evidences including purchase bills and supporting transportation bills. The AO, in principle, accepted that the assessee has submitted

DCIT., CIRCLE 3(1), HYDERABAD vs. ROHINI MINERALS PRIVATE LIMITED , HYDERABAD

In the result, all the three appeals filed by the Revenue for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.980/Hyd/2024, 1079/Hyd/2024 & 1080/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2018-19, 2014-15 & 2015-16) Dcit Vs. M/S Rohini Minerals Circle-3(1) Private Limited Hyderabad Hyderabad [Pan :Aaccr0773N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.K.Gupta, Ar रधजस् व द्वधरध/Revenue By: Shri B Bala Krishna, Cit-Dr Shri Srinath Sadanala, Sr.Ar

10. Coming back to the purchases made by the assessee from M/s Jagannatha Agro Ltd. Admittedly, the assessee had made purchases of Rs.2,36,00,792/- from M/s Jagannath Agro Ltd. and to justify the purchases from the above company, furnished all evidences including purchase bills and supporting transportation bills. The AO, in principle, accepted that the assessee has submitted

AMARAVATI ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

AMARAVATI,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

AMARAVATI ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

AMARAVATI ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

MEENA JEWELS AND PEARLS,HYDERABAD vs. ACIT., CIRCLE-5(1), HYDERABAD

In the result, appeal of the Assessee is allowed

10,14,600/- so made by the AO and upheld by the Id CIT(A) is hereby directed to be deleted. Ground of appeal no. 4 of assessee's appeal is thus allowed.” 8. Thus, an identical issue of addition made by the Assessing Officer based on the statement of Sri Rajendra Jain in respect of the purchases made from

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

10,00,000 Sub Total 1,09,05,730 Total 3,72,55,730 50% of the amount being claimed as deduction was disallowed by the assessing officer because CSR expenditure by the assessee forms a part of the mandatory requirement of the Companies Act, 2013 and consequently not eligible for deduction under section 80G of the Incometax