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

143(3) r.w\nsection 144B of the Act, dated 03.09.2021, determined the income of\nthe assessee company at Rs. 161,11,36,087/- under the normal\nprovisions and “book profit” under section 115JB at Rs. 231,31,26,864/-\nafter making certain additions/disallowances, viz. (i). disallowance\nunder section 14A r.w Rule 8D, after taking cognizance of the fact that\nthe

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

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

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

EXEL RUBBER PRIVATE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-1(2), HYDERABAD

bogus.\n5. Any other legal and factual ground or grounds that may be\nurged at the time of hearing of the appeal.”\n3.\nThe brief facts of the case are that the assessee\ncompany filed the return of income for the A.Y 2020-21 on\n12.02.2021, admitting total Income of Rs.103,29,39,000/-. The\ncase was selected for scrutiny

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

2) and 142(1) of the Act were issued on 28.06.2022 and served to the assessee. To verify the purchases, notices under 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

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

2) and 142(1) of the Act were issued on 28.06.2022 and served to the assessee. To verify the purchases, notices under 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

SUJIT AGARWAL ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2014-15 Shri Sujit Agarwal Vs. Dy. C. I. T. Hyderabad Central Circle 2(2) Pan:Aclpa3197P Hyderabad (Appellant) (Respondent) Assessee By: Shri S. Rama Rao, Advocate Revenue By: Shri Ch V Gopinath, Cit(Dr) Date Of Hearing: 09/11/2023 Date Of Pronouncement: 22/11/2023 Order Per R.K. Panda, Vice-This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.01.2019 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2014-15. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & The Managing Director Of The Company, M/S. Sawaria Pipes Pvt Ltd. He Filed His Original Return Of Income For The Impugned A.Y On 30.12.2014 Declaring Total Income Of Rs.20,13,600/- & Agricultural Income Of Rs.70,200/-. A Search & Seizure Operation U/S 132 Of The I.T. Act Was Conducted In The Case Of The Assessee On 12.01.2016. In Response To Notice U/S 153A Of The Act Issued On 6.9.2016, The Assessee Filed His Return

bogus LTCG. Rejecting the various explanations given by the assessee, the Assessing Officer rejected the claim of LTCG of Rs.6,89,76,599/- u/s 10(38) and made addition of Rs.7,97,38,105/- u/s 68 of the I.T. Act by observing as under: Page 3 of 17 ITA No 369 of 2019 Sujit Agarwal Page

EXEL RUBBER PRIVATE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-1(2), HYDERABAD

bogus.\n5. Any other legal and factual ground or grounds that may be\nurged at the time of hearing of the appeal.”\n\n3.\nThe brief facts of the case are that the assessee\ncompany filed the return of income for the A.Y 2020-21 on\n12.02.2021, admitting total Income of Rs.103,29,39,000/-. The\ncase was selected

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

bogus purchases. Hon’ble Gujarat High Court in the case of Krishna Textiles Vs. CIT [2008] 174 Taxman 372 [2009] held that, the onus was on the revenue to prove that the income belongs to the assessee. The AO in this case did not doubt the sales, stock record maintained by the assessee. In the absence of any contrary finding

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

bogus purchases. Hon’ble Gujarat High Court in the case of Krishna Textiles Vs. CIT [2008] 174 Taxman 372 [2009] held that, the onus was on the revenue to prove that the income belongs to the assessee. The AO in this case did not doubt the sales, stock record maintained by the assessee. In the absence of any contrary finding

R.K.INFRACORP PRIVATE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(4), HYDERABAD

143(2) of the Act, dated\n11/06/2021 was issued to the assessee company.\n5. During the course of the assessment proceedings, the AO\nobserved that the assessee company had received Rs. 58,40,75,961/-\nand Rs. 53,18,86,949/- from M/s. Megha Engineering & Infrastructure\nLimited (for short, “MEIL”), during the Financial Years (F.Ys.) 2018-19\nand

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

143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short, “the Act”). 2. Before us, at the outset, both parties submitted that the issues raised in all the four appeals are identical except for the amounts involved. In view of the aforesaid submissions, we, for the sake of convenience, proceed to dispose of all the captioned appeals

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

143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short, “the Act”). 2. Before us, at the outset, both parties submitted that the issues raised in all the four appeals are identical except for the amounts involved. In view of the aforesaid submissions, we, for the sake of convenience, proceed to dispose of all the captioned appeals

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

143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short, “the Act”). 2. Before us, at the outset, both parties submitted that the issues raised in all the four appeals are identical except for the amounts involved. In view of the aforesaid submissions, we, for the sake of convenience, proceed to dispose of all the captioned appeals

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

143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short, “the Act”). 2. Before us, at the outset, both parties submitted that the issues raised in all the four appeals are identical except for the amounts involved. In view of the aforesaid submissions, we, for the sake of convenience, proceed to dispose of all the captioned appeals

PRATHIMA INFRASTRUCTURE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeals filed by the Revenue are dismissed

143(3) r.w.s. 153A of the Act, dated 31.03.2022 for A.Y. 2014-15 to 2020-21 are clearly barred by limitation as prescribed under Section 153B of the Income Tax Act, 1961 and thus, are liable to be quashed. Accordingly, we quash the assessment order passed by the A.O. for A.Y. 2014-15 to 2020-21. 22. The next issue

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. PRATHIMA INFRASTRUCTURE LIMITED, HYDERABAD

In the result, appeals filed by the Revenue are dismissed

143(3) r.w.s. 153A of the Act, dated 31.03.2022 for A.Y. 2014-15 to 2020-21 are clearly barred by limitation as prescribed under Section 153B of the Income Tax Act, 1961 and thus, are liable to be quashed. Accordingly, we quash the assessment order passed by the A.O. for A.Y. 2014-15 to 2020-21. 22. The next issue

PRATHIMA INFRASTRUCTURE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeals filed by the Revenue are dismissed

143(3) r.w.s. 153A of the Act, dated 31.03.2022 for A.Y. 2014-15 to 2020-21 are clearly barred by limitation as prescribed under Section 153B of the Income Tax Act, 1961 and thus, are liable to be quashed. Accordingly, we quash the assessment order passed by the A.O. for A.Y. 2014-15 to 2020-21. 22. The next issue