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

bogus purchases in its books of accounts. The\nAO, based on his aforesaid observations, which though were explicitly\nrecorded only in context of the aforementioned three entries, however\ndrew adverse inferences with respect to 24 entries mentioned in the\nseized document, viz., Annexure A-1/Pages 01-02 and made an addition\nof Rs.20,35,50,000/- by treating

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

bogus purchases in its books of accounts. The\nAO, based on his aforesaid observations, which though were explicitly\nrecorded only in context of the aforementioned three entries, however\ndrew adverse inferences with respect to 24 entries mentioned in the\nseized document, viz., Annexure A-1/Pages 01-02 and made an addition\nof Rs.20,35,50,000/- by treating

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

bogus invoices to route funds. 27. It is an undisputed fact that the assessee company had recorded the sales made to the aforementioned party, viz. M/s Lakshin Infradev Pvt. Ltd in its books of account, included the same in its turnover, and received the sale consideration through banking channels. Also, it transpires that the assessee company, to substantiate the subject

KUPPAM EDUCATIONAL SOCIETY,KUPPAM vs. INCOME TAX OFFICER (EXEMPTIONS), TIRUPATI

In the result, the appeal of the assessee is partly allowed

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

purchases are made by the assessee in good faith and all the bills are given at hand length prices. The said transactions are made in the normal course of the business. As such there are no bogus bills/Purchases so as to be subjected to an addition on the ground.” 4. The assessee also raised the following additional ground before

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

SHANKAR LAL AGARWAL,HYDERABAD vs. INCOME TAX OFFICER, WARD-16(2), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: Shri K. Narasimha Chary

89 taxmann.com 196) (Hon’ble High Court of Bombay), Smt. Tharakumari in ITA No. 128/2019 & CMP No. 3353/2019 (Hon’ble High Court of Madras); decisions of Co- ordinate Benches of the Tribunal in Suman Poddar in ITA No. 1006/Del/2019, Krishna Devi in ITA No. 6356/Del/2019, dated 04/01/2022, M/s. Vidya Reddy in ITA No. 2016/Chny/2017, Pooja Ajmani (106 taxmann.com

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

purchase and at the time of sale, but even after three years from the date of sale of shares, in the year 2015, the shares were quoted in the Stock Exchange at Rs. 134.40 per share. It is, therefore, not a penny stock and the observations made by the learned Assessing Officer are not applicable to the facts

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

bogus\ninvoices to route funds.\n27.\nIt is an undisputed fact that the assessee company had recorded\nthe sales made to the aforementioned party, viz. M/s Lakshin Infradev\nPvt. Ltd in its books of account, included the same in its turnover, and\nreceived the sale consideration through banking channels. Also, it\ntranspires that the assessee company, to substantiate the subject

DCIT., CIRCLE-2(1), HYDRABAD vs. KALPTARU INVESTMENTS PRIVATE LIMITED, HYDERABAD

In the result, appeal ITA

bogus claim of the\n\n13\nITA.No.1077/Hyd./2025\nassessee from the reverse and circular transactions carried\nout by the assessee. The assessee carried out premeditated\nand circularised transactions with the sole purpose of\ngenerating artificial/bogus profit/loss to the respective\nparties. The learned DR further submitted that when a\nspecific and reliable information relevant for assessment of\nincome

DEMI REALTORS,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee is partly allowed for statistical purposes on the above terms

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

section is very clear and the appellant has incurred the expenditure and the appellant has made the payment to the various parties and persons. The appellant has, to circumvent, not accounted for the same and has also not brought out any evidence from M/s.DLF that they have accounted for such transactions in their books as cash payments. The MoU cannot

ACE TYRES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeals of the assessee for the A

section\n149(1)(b) of the Act, empowers an authority to issue\nnotice u/s 148 of the Act, if the alleged income is represented\nby any asset or expenditure. It is apparent on the face of the\nshow-cause notice( in brief "SCN"), that assessing officer is\nnot certain, as to whether in assessee`s case, the alleged\nescaped income

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,K.V.RANGAREDDY vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the appeals of the assessee for the\nA

89,996\n5,73,38,438\n2018-19\n9,79,67,978\n6,83,45,676\n2019-20\n3,78,69,796\n2,64,19,212\n2020-21\n5,95,94,164\n4,15,74,845\n2021-22\n3,00,82,983\n2,09,86,875\n2022-23\n114,26,53,017\n85,36,56,501\n2023

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

89,22,648/-. 15. It could be seen from the record that the assessee in the return of income declared an amount of Rs.75,36,99,384/- under section 115JB of the Act. During the appellate proceedings, the assessee requested the learned CIT(A) to direct the learned Assessing Officer to adopt the declared income of Rs.75

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

89,22,648/-. 15. It could be seen from the record that the assessee in the return of income declared an amount of Rs.75,36,99,384/- under section 115JB of the Act. During the appellate proceedings, the assessee requested the learned CIT(A) to direct the learned Assessing Officer to adopt the declared income of Rs.75

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

89,22,648/-. 15. It could be seen from the record that the assessee in the return of income declared an amount of Rs.75,36,99,384/- under section 115JB of the Act. During the appellate proceedings, the assessee requested the learned CIT(A) to direct the learned Assessing Officer to adopt the declared income of Rs.75

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

89,22,648/-. 15. It could be seen from the record that the assessee in the return of income declared an amount of Rs.75,36,99,384/- under section 115JB of the Act. During the appellate proceedings, the assessee requested the learned CIT(A) to direct the learned Assessing Officer to adopt the declared income of Rs.75

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

89,22,648/-. 15. It could be seen from the record that the assessee in the return of income declared an amount of Rs.75,36,99,384/- under section 115JB of the Act. During the appellate proceedings, the assessee requested the learned CIT(A) to direct the learned Assessing Officer to adopt the declared income of Rs.75