NARESH SAMALA,WARANGAL vs. INCOME TAX OFFICER, WARD-1, WARANGAL

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

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President)

100/- as unexplained cash and brought to tax under Section 68 of the Act read with Section 115BBE of the Income Tax Act, 1961. 3. Aggrieved by the assessment order, the assessee preferred an appeal before the Ld. CIT(A). Before the Ld. CIT(A), the assessee submitted that, he is into the business of running a restaurant

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

bogus invoices to route funds, the\nauthenticity of sales of cement as stated by the assessee is in\nquestion and hence, the explanation is not satisfactory. Hence, an\namount of Rs.1,29,91,000/- was added u/s 68.\n6.1 The appellant submitted all documentary evidences to prove that\nsales receipts from M/s Lakshin Infradev Pvt Ltd was genuine.\nAppellant relied

SRUJITHA ANNAPAREDDY,SECUNDERABAD vs. INCOME TAX OFFICER, WARD-12(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

Bench: Shri Manjunatha, G.आ.अपी.सं /Ita No.253/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2016-17) Smt. Surjitha Annapareddy Vs. Income Tax Officer Secunderabad Ward 12(1) Pan:Bnwpa6703L Hydrabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri A.V. Raghuram, Advocate राज" व "ारा/Revenue By:: Shri Y Srikanth Reddy, Dr सुनवाई की तारीख/Date Of Hearing: 22/05/2024 घोषणा की तारीख/Pronouncement: 22/05/2024

purchased shares of MG Ltd. and on its amalgamation, was allotted shares of AG Ltd. in exchange for its existing holding and whose cost of acquisition has been claimed as eligible deduction and net sale consideration has been claimed as exempt as long-term capital gains. (Para 18) The AO has started with the conclusion, that the assessee is involved

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

DCIT,CENTRAL CIRCLE - 7, HYDERABAD vs. M/S MIDWEST GRANITE PRIVATE LIMITED., HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

DCIT,CENTRAL CIRCLE - 7, HYDERABAD vs. M/S MIDWEST GRANITE PRIVATE LIMITED., HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

DCIT,CENTRAL CIRCLE - 7, HYDERABAD vs. M/S MIDWEST GRANITE PRIVATE LIMITED., HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

DCIT,CENTRAL CIRCLE - 7, HYDERABAD vs. M/S MIDWEST GRANITE PRIVATE LIMITED., HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

DCIT,CENTRAL CIRCLE - 7, HYDERABAD vs. M/S MIDWEST GRANITE PRIVATE LIMITED., HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction. 21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting, squaring and dressing of granites were certainly carried out, may be, by outside parties without which the granite blocks could not have been exported and therefore, certain expenses were incurred

ANNAPURNA BUSINESS SOLUTIONS, HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-3, HYD, HYDERABAD

In the result appeals of the revenue are partly allowed and the appeals of the assessee are allowed

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhappellant Respondent

100,000 and submitted to STPI vide letter dated 19.05.2008, whereas the same invoice No.20227 dt.05.05.2008 raised on Megasoft for customization was for an amount of $1000 to the department. Therefore, the AO viewed that there was malafide intention and manipulations for claiming the deduction u/s 10A. 2.6. Sixthly, the AO has recorded the statement from V.Hari Babu (staff

ANNAPURNA BUSINESS SOLUTIONS, HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-3, HYD, HYDERABAD

In the result appeals of the revenue are partly allowed and the appeals of the assessee are allowed

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhappellant Respondent

100,000 and submitted to STPI vide letter dated 19.05.2008, whereas the same invoice No.20227 dt.05.05.2008 raised on Megasoft for customization was for an amount of $1000 to the department. Therefore, the AO viewed that there was malafide intention and manipulations for claiming the deduction u/s 10A. 2.6. Sixthly, the AO has recorded the statement from V.Hari Babu (staff

ANNAPURNA BUSINESS SOLUTIONS, HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-3, HYD, HYDERABAD

In the result appeals of the revenue are partly allowed and the appeals of the assessee are allowed

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhappellant Respondent

100,000 and submitted to STPI vide letter dated 19.05.2008, whereas the same invoice No.20227 dt.05.05.2008 raised on Megasoft for customization was for an amount of $1000 to the department. Therefore, the AO viewed that there was malafide intention and manipulations for claiming the deduction u/s 10A. 2.6. Sixthly, the AO has recorded the statement from V.Hari Babu (staff