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

BASANTH LAL SAH,HYDERABAD vs. ITO., WARD-11(1), HYDERABAD

Bench: Us :

Section 133(6) of the Act could not have been pressed into service by the authorities below for doubting the authenticity of the purchase transactions. Elaborating further on his contention, the Ld. AR submitted that now when the assessee, to discharge the primary onus that was cast upon him for proving the identity of the subject purchases, had placed

BS LIMITED,HYDERABAD vs. ASST.COMISSIONER OF INCOME TAX, CIRCLE-2(3), HYDERABAD

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

Bench: Shri D. Manmohan & Shri S. Rifaur Rahmanassessment Year: 2013-14

22,23,210 Loan processing charges 2,43,78,681 Other borrowing costs 49,42,77,339 Total finance cost debited to P&L A/c 107,14,64,461 5.3 The AO observed that interest on cash & other borrowing cost is to be considered while computing disallowance of interest cost towards sham transactions. However, interest on car loan & interest

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. ASCEND TELCOM INFRASTRUTURE PRIVATE LIMITED , HYDERABAD

In the result, the appeal filed by the Revenue is allowed for statistical purposes while the corresponding C

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

bogus purchases/ unexplained & unverifiable expenses as applicable to various vendors as noticed during the search and survey proceedings conducted in group cases. 3.2. Submission We wish to provide our detailed submission as below against the ground raised by the Revenue in connection with the disallowance of the CWIP: Unexplained investment 3.2.1. We submit that the learned AO has erred

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. ASCEND TELECOM INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeal filed by the Revenue is allowed for statistical purposes while the corresponding C

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

bogus purchases/ unexplained & unverifiable expenses as applicable to various vendors as noticed during the search and survey proceedings conducted in group cases. 3.2. Submission We wish to provide our detailed submission as below against the ground raised by the Revenue in connection with the disallowance of the CWIP: Unexplained investment 3.2.1. We submit that the learned AO has erred

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. ASCEND TELECOM INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeal filed by the Revenue is allowed for statistical purposes while the corresponding C

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

bogus purchases/ unexplained & unverifiable expenses as applicable to various vendors as noticed during the search and survey proceedings conducted in group cases. 3.2. Submission We wish to provide our detailed submission as below against the ground raised by the Revenue in connection with the disallowance of the CWIP: Unexplained investment 3.2.1. We submit that the learned AO has erred

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. ASCEND TELECOM INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeal filed by the Revenue is allowed for statistical purposes while the corresponding C

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

bogus purchases/ unexplained & unverifiable expenses as applicable to various vendors as noticed during the search and survey proceedings conducted in group cases. 3.2. Submission We wish to provide our detailed submission as below against the ground raised by the Revenue in connection with the disallowance of the CWIP: Unexplained investment 3.2.1. We submit that the learned AO has erred

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. ASCEND TELCOM INFRASTRUTURE PRIVATE LIMITED , HYDERABAD

In the result, the appeal filed by the Revenue is allowed for statistical purposes while the corresponding C

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

bogus purchases/ unexplained & unverifiable expenses as applicable to various vendors as noticed during the search and survey proceedings conducted in group cases. 3.2. Submission We wish to provide our detailed submission as below against the ground raised by the Revenue in connection with the disallowance of the CWIP: Unexplained investment 3.2.1. We submit that the learned AO has erred

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. ASCEND TELECOM INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeal filed by the Revenue is allowed for statistical purposes while the corresponding C

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

bogus purchases/ unexplained & unverifiable expenses as applicable to various vendors as noticed during the search and survey proceedings conducted in group cases. 3.2. Submission We wish to provide our detailed submission as below against the ground raised by the Revenue in connection with the disallowance of the CWIP: Unexplained investment 3.2.1. We submit that the learned AO has erred

SURYA PRABHA SUNKAVALLI,HYDERABAD vs. INCOME TAX OFFICER, WARD-14(3), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

bogus purchases then the profit has to be estimated. In PCIT Vs. M/s.Paramshakti Distributors Pvt. Ltd., in Income Tax Appeal No.413 of 2017 on the file of the Hon'ble Bombay High Court the Revenue has not rejected the instances of purchases by accepting the sales, it was proper to tax the profit embedded in such purchases. In ACIT

ANIRUDH VENKATA RAGI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

purchased shares of a particular company for Rs. 1 lakh and when investments in shares became eligible for long term capital gains, it was sold for Rs. 29 lakhs, learned Assessing Officer is justified in opining that shares of such particular company matched all features of companies which were providing bogus long term capital gains and made additions under section

BIKASH KUMAR KEDIA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.707/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Shri Subhash Kumar Kedia Vs. Asstt. C. I. T. Hyderabad Central Circle 3(1) Pan:Afvpk8915Q Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No. 405/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Vs. Shri Bikash Kumar Asstt. C. I. T. Kedia Hyderabad Central Circle 3(1) Pan:Afapk8794E Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Vamshi Krishna, Dr सुनवाई की तारीख/Date Of Hearing: 09/10/2024 घोषणा की तारीख/Pronouncement: 29/10/2024 आदेश/Order Per Manjunatha, G. A.M These Two Appeals Filed By Different Assessees Are Directed Against The Separate, But Identical Orders Dated 31/01/2020 Of The Learned Cit (A)-11, Hyderabad Relating To Page 1 Of 33

22 of 33 ITA 707 & 405 of 2020 Subhash Kumar Kedia & Other shares is bogus in nature. Take an example, there may be a group of people who are in collusion with each other may have traded a particular share to jack the share price artificially in the stock market, but a common investor in stock market by watching

SUBHASH KUMAR KEDIA,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.707/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Shri Subhash Kumar Kedia Vs. Asstt. C. I. T. Hyderabad Central Circle 3(1) Pan:Afvpk8915Q Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No. 405/Hyd/2020 (िनधा"रण वष"/Assessment Year: 2015-16) Vs. Shri Bikash Kumar Asstt. C. I. T. Kedia Hyderabad Central Circle 3(1) Pan:Afapk8794E Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Vamshi Krishna, Dr सुनवाई की तारीख/Date Of Hearing: 09/10/2024 घोषणा की तारीख/Pronouncement: 29/10/2024 आदेश/Order Per Manjunatha, G. A.M These Two Appeals Filed By Different Assessees Are Directed Against The Separate, But Identical Orders Dated 31/01/2020 Of The Learned Cit (A)-11, Hyderabad Relating To Page 1 Of 33

22 of 33 ITA 707 & 405 of 2020 Subhash Kumar Kedia & Other shares is bogus in nature. Take an example, there may be a group of people who are in collusion with each other may have traded a particular share to jack the share price artificially in the stock market, but a common investor in stock market by watching

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

K & R RAIL ENGINEERING LIMITED,SECUNDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

bogus purchases was the reason to believe as per the satisfactory note which was supplemented to the assessee and no addition was made on the same. Thus, not allowing the eligible TDS credits, Advance Tax and Self Assessment Tax paid is incorrect as the addition pertaining to the reason to believe was not made. 3 K & R Rail Engineering Limited

K & R RAIL ENGINEERING LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

bogus purchases was the reason to believe as per the satisfactory note which was supplemented to the assessee and no addition was made on the same. Thus, not allowing the eligible TDS credits, Advance Tax and Self Assessment Tax paid is incorrect as the addition pertaining to the reason to believe was not made. 3 K & R Rail Engineering Limited

K & R RAIL ENGINEERING LIMITED,SECUNDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

bogus purchases was the reason to believe as per the satisfactory note which was supplemented to the assessee and no addition was made on the same. Thus, not allowing the eligible TDS credits, Advance Tax and Self Assessment Tax paid is incorrect as the addition pertaining to the reason to believe was not made. 3 K & R Rail Engineering Limited