KAVERI INFRA PROJECT PVT LTD,WARANGAL vs. DCIT, CENTRAL CIRCLE -1(3), HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

139(1), and also specifies in the statement the manner in which such income has been derived and pays the tax together with interest, if any, in respect of such income. 24. The purpose of inserting Explanation-5 in the statute books was explained by the Supreme Court in K.P. Madhusudan v. CIT [2001] 251 ITR 99/118 Taxman 324, wherein

KAVERI POLYMERS,WARANGAL vs. DCIT, CENTRAL CIRCLE -1(3), HYDERABAD

In the result, the appeal of assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

139(1), and also specifies in the statement the manner in which such income has been derived and pays the tax together with interest, if any, in respect of such income. 24. The purpose of inserting Explanation-5 in the statute books was explained by the Supreme Court in K.P. Madhusudan v. CIT [2001] 251 ITR 99/118 Taxman 324, wherein

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

139(1) of the Act on 30.11.2018, declaring an income of Rs.141,83,11,120/-, and “book profit” under Section 115JB of the Act of Rs. 230,21,15,364/-. Subsequently, the case of the assessee company was selected for complete scrutiny under the E-assessment Scheme, 2019, on various issues, viz. business purchases, deduction claimed under section 801A

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

139(1) of the Act on 30.11.2018,\ndeclaring an income of Rs.141,83,11,120/-, and “book profit” under\nSection 115JB of the Act of Rs. 230,21,15,364/-. Subsequently, the\ncase of the assessee company was selected for complete scrutiny\nunder the E-assessment Scheme, 2019, on various issues, viz.\nbusiness purchases, deduction claimed under section 801A

KANISHKA GUPTA,,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(1), HYDERABAD

In the result, all the appeals of assessees are dismissed

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

5. Feeling aggrieved with the order of Assessing Officer, assessee carried the matter before ld.CIT(A), who dismissed the appeals of assessee. 6. Before us, the submissions made by the ld. AR are as follows : i. The cash which was paid by the assessee to the builder was available to the assessee from the sale of the scrap done

RONAK GUPTA,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(1), HYDERABAD

In the result, all the appeals of assessees are dismissed

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

5. Feeling aggrieved with the order of Assessing Officer, assessee carried the matter before ld.CIT(A), who dismissed the appeals of assessee. 6. Before us, the submissions made by the ld. AR are as follows : i. The cash which was paid by the assessee to the builder was available to the assessee from the sale of the scrap done

SUPREME AGRO,HYDERABAD vs. ACIT CENTRAL CIRCLE-3 (1), HYDERABAD

In the result, all the appeals of assessees are dismissed

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

5. Feeling aggrieved with the order of Assessing Officer, assessee carried the matter before ld.CIT(A), who dismissed the appeals of assessee. 6. Before us, the submissions made by the ld. AR are as follows : i. The cash which was paid by the assessee to the builder was available to the assessee from the sale of the scrap done

KINETA GLOBAL LIMITED,HYDERABAD vs. DCIT., CIRCLE-2(1), HYDERABAD

In the result, the appeal filed by the assessee company is allowed in terms of our aforesaid observations

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.800/Hyd/2025 (निर्धारण वर्ा/Assessment Year: 2018-19) Kineta Global Limited, Vs. Deputy Commissioner Hyderabad. Of Income Tax, Circle-2(1), Pan: Aacck7944A Hyderabad. (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Sri S. Venkateswarlu, Tax Consultant रधजस् व द्वधरध/Revenue By: Dr. Narendra Kumar Naik, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 12/11/2025 घोर्णध की तधरीख/Date Of 19/11/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Company Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, Dated 03/03/2025, Which In Turn Arises From The Order Passed By The Assessing Officer Under Section 147 R.W.S 144B Of The Income-Tax Act, 1961 (For Short, “Act”) Dated 21/02/2024 For The Assessment Year 2018-19. The Assessee Company

purchases which the assessee company had claimed to have made from M/s. Sauve Corporation India Pvt. Ltd, were bogus and, thus, the entire amount of bogus expenditure was treated by him as the income of the assessee company. The AO, based on his aforesaid observations after reducing the profit of Rs. 18,17,636/-, that the assessee company had claimed

ASSISTANT COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-2(1) , HYDERABAD vs. S A BUILDERS AND DEVELOPERS , HYDERABAD

The appeals of the Revenue are dismissed

bogus and that the department has no case to disbelieve the credits in the\nbooks by way of advances. It is also stated in the reply that all the above persons are\nabsconding because of a criminal case instituted against them due to which confirmation\nletters could not be procured and the lapse in this regard is due to impossibility

S A BUILDERS & DEVELOPERS ,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-1(2) , HYDERABAD

In the result, Ground Nos

bogus and that the department has no case to disbelieve the credits in the\nbooks by way of advances. It is also stated in the reply that all the above persons are\nabsconding because of a criminal case instituted against them due to which confirmation\nletters could not be procured and the lapse in this regard is due to impossibility

SUSHEE INFRA & MINING LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

SUSHEE INFRA & MINING LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

SUSHEE INFRA & MINING LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

SUSHEE INFRA & MINING LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5

SUSHEE INFRA & MINING LIMITED,HYDERABAD vs. DCIT, CIRCLE -2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

bogus in nature. Learned Assessing Officer, therefore, confronted the assessee regarding the same. In absence of any reply from the side of the assessee, learned Assessing Officer added Rs.1,15,00,000/- to the total income of the assessee. 43. In appeal, the learned CIT (A) confirmed the addition made by the learned Assessing Officer by observing that,- “Ground No.5