SUSHMASRI BOPPANA,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, appeal filed by the assessee for the A

Bench: Shri Mahavir Singh, Hon'Ble Vice- & Shri Manjunatha, G. Accountant Hon'Bleआ.अपी.सं /Ita No.57 & 58/Hyd/2023 (िनधा"रण वष"/Assessment Years: 2015-16 & 2016-17) Smt. Sushmasri Boppana Vs. Asstt. Commissioner Of Hyderabad Income Tax, Pan:Akvpb6106D Central Circle 3(1) Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri A.V. Raghuram, Advocate राज" व "ारा/Revenue By:: Shri B. Balakrishna, Dr सुनवाई की तारीख/Date Of Hearing: 23/09/2024 घोषणा की तारीख/Pronouncement: 25/10/2024 आदेश/Order

unexplained investment towards on-money payment for purchase of property. 18. We have heard both the parties, perused the material available on record and gone through the orders of the authorities below. There is no dispute with regard to the fact that during the course of search, agreement of sale dated 07/11/2015 was found at the premise of Varsity Education

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(4), HYDERABAD vs. AARTHIK GREENTECH SOLUTIONS PRIVATE LIMITED, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.32/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2014-15) Asst.Commissioner Of Vs. Aarthik Greentech Income Tax Solutions Pvt.Ltd. Central Circle-3(4) Hyderabad Hyderabad [Pan : Aalca6887D] आ.अपी.सं /Ita No.33/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2014-15) Asst.Commissioner Of Vs. Aarthik Infra Projects Income Tax Pvt.Ltd. Central Circle-3(4) Hyderabad Hyderabad [Pan : Aahca0719N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Ms.M.Narmada, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 19/12/2024 घोर्णध की तधरीख/Date Of 21/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Appeals Filed By The Revenue Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2014-15. Since, Facts Are Identical & Issues Are Common, For The Sake Of Aarthik Greentech Solutions Pvt. Ltd. & Aarthik Infra Projects Pvt.Ltd.

bogus shareholders, whose names are given to the Assessing Officer, then the department is free to proceed to reopen their individual assessments, in accordance with law, but this amount of share application money cannot be regarded as undisclosed income u/s 68 of the Act. A similar view has been taken by the Hon'ble Supreme Court in the case

VISHAN RAJ JAIN (HUF),HYDERABAD vs. ACIT CENTRAL CIRCLE-1 (2), HYDERABAD

In the result, the appeal filed by the assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2016-17 Vishan Raj Jain (Huf) Vs. Acit, Central Circle-1(2) 6-3-650, G7 6-3-650, G7, Aaykar Bhawan Maheswari Chambers Opp:L.B.Stadium Somajiguda Basheer Bagh Telangana-500 082 Hyderabad-500 004

bogus purchase and sale of shares, whereas all documentary evidences are clearly showing that the assessee is eligible to claim exemption under section 10(38). In this connection your kind attention is drawn to CBDT circular No. 14(XL-35) of 1955, dated 11.4.1955, it was directed that the officials of the department obliged to advise the assessee and guide

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

purchase of two villas along with his brother, 50% of the above cash payments, i.e., Rs.35,00,000/ - is considered in the hands of the assessee as unexplained cash investment til s 69B..." Even during the course of appeal proceedings, the appellants did not furnish any explanation with supporting documentary evidence except for reiterating the contentions raised before

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

purchase of two villas along with his brother, 50% of the above cash payments, i.e., Rs.35,00,000/ - is considered in the hands of the assessee as unexplained cash investment til s 69B..." Even during the course of appeal proceedings, the appellants did not furnish any explanation with supporting documentary evidence except for reiterating the contentions raised before

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

purchase of two villas along with his brother, 50% of the above cash payments, i.e., Rs.35,00,000/ - is considered in the hands of the assessee as unexplained cash investment til s 69B..." Even during the course of appeal proceedings, the appellants did not furnish any explanation with supporting documentary evidence except for reiterating the contentions raised before

PRODDATURI SANJAY KUMAR,HYDERABAD vs. ITO, WARD-10(4), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Madhusudan Sawdia, Hon’Bleassessment Year: 2017-18 Proddaturi Sanjay Kumar, Vs. The Income Tax Officer, Ward – 10(4), Hyderabad. Hyderabad. Pan : Bfbps1905P. (Appellant) (Respondent) Assessee By: Shri B. Prabhakar, Advocate. Revenue By: Shri Sbr Kumar Laghimsetti, Sr.D.R. Date Of Hearing: 07/04/2025 21/04/2025 Date Of Pronouncement:

investment is fully recorded and traceable, and there is no finding that the purchase itself was fictitious or bogus. 6. The Ld. DR relied on the orders of the revenue authorities. 7. We have considered the rival contentions and perused the material available on record in view of the submissions made by either side. It is undisputed that

ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-3(4), HYDERABAD vs. SV MULTI LOGITECH PRIVATE LIMITED , SECUNDERBAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.81/Hyd/2021 & 82/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2015-16 & 2016-17) Asst.Commissioner Of Vs. S.V.Multi Logitech Income Tax Private Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan :Aascs7131D] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 25/11/2024 घोर्णध की तधरीख/Date Of 18/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Appeals Filed By The Revenue Are Directed Against Order Dated 04.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2015-16 & 2016-17. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue Are Being Heard Together & Are Being Disposed Off, By This Common Order. S.V.Multi Logitech Private Ltd.

bogus shareholders, whose names are given to the Assessing Officer, then the department is free to proceed to reopen their individual assessments, in accordance with law, but this amount of share application money cannot be regarded as undisclosed income u/s 68 of the Act. A similar view has been taken by the Hon'ble Supreme Court in the case

ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE 3(4), HYDERABAD vs. SV MULTI LOGITECH PRIVATE LIMITED , SECUNDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.81/Hyd/2021 & 82/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2015-16 & 2016-17) Asst.Commissioner Of Vs. S.V.Multi Logitech Income Tax Private Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan :Aascs7131D] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 25/11/2024 घोर्णध की तधरीख/Date Of 18/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Appeals Filed By The Revenue Are Directed Against Order Dated 04.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2015-16 & 2016-17. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue Are Being Heard Together & Are Being Disposed Off, By This Common Order. S.V.Multi Logitech Private Ltd.

bogus shareholders, whose names are given to the Assessing Officer, then the department is free to proceed to reopen their individual assessments, in accordance with law, but this amount of share application money cannot be regarded as undisclosed income u/s 68 of the Act. A similar view has been taken by the Hon'ble Supreme Court in the case

VENU GOPAL KARWA,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD

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

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2015-16 Shri Venu Gopal Karwa Vs. Dy. C. I. T. Karimnagar Central Circle 1(2) Pan:Aavpk2698B Hyderabad (Appellant) (Respondent) Assessee By: Shri V Guna Sekhar Reddy, Ca Revenue By: Shri Jeevan Lal Lavidiya, Cit (Dr) Date Of Hearing: 25/07/2023 Date Of Pronouncement: 31/07/2023 Order Per R.K. Panda, Vice-This Appeal Filed By The Assessee Is Directed Against The Order Dated 30.10.2018 Of The Learned Cit (A)-11, Hyderabad, Relating To A.Y.2015-16. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & Derives Income From Salary, Hose Property & Other Sources. He Filed His Return Of Income On 6.3.2016 Belatedly Declaring Taxable Income At Rs.47,71,060/-. The Return Was Selected For Complete Scrutiny Under Cass. Accordingly Statutory Notices U/S 143(2) & 142(1) Were Issued & Served On The Assessee To Which The Ar Of The Assessee Appeared From Time To Time & Furnished The Requisite Details. One Of The Cass Reasons Page 1 Of 14

purchased at a cost of Rs.200/-. Later, on 14.08.2012, the company declared 9 bonus shares for every one share held by each shareholder. Accordingly, 4500 shares are received by the assessee for 500 shares held by him, Further, the company has reduced its share value of Rs. 10/- to Rs. 1/- per share by converting 1 share

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

bogus Long-Term Capital Gain provided by the entry operators on trading of shares of Surabhi Chemicals & Investments Ltd and this fact is revealed by the Directorate of Investigation, Kolkata where search and survey operations was conducted by the Department reveals modes operandi of entry providers in providing Long-Term Capital Gain for trading in penny stock companies. Consequent

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

bogus Long-Term Capital Gain provided by the entry operators on trading of shares of Surabhi Chemicals & Investments Ltd and this fact is revealed by the Directorate of Investigation, Kolkata where search and survey operations was conducted by the Department reveals modes operandi of entry providers in providing Long-Term Capital Gain for trading in penny stock companies. Consequent

SRINIVAS SHAH RADRARAJU ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.957/Hyd/2019 (निर्धारण वर्ा/Assessment Year: 2014-15) Srinivas Shah Rudraraju Vs. Dcit, Circle-2(1) Hyderabad Hyderabad [Pan :Afcpr1979L] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Dr.Sachin Kumar, Dr सुिवधई की तधरीख/Date Of Hearing: 15/01/2025 घोर्णध की तधरीख/Date Of 05/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: This Appeal Filed By The Assessee Is Directed Against The Order Dated 29.03.2019 Of The Learned Commissioner Of Income Tax (Appeals) [Ld.Cit(A)]-2, Guntur, Pertaining To A.Y.2014-15. 2. The Brief Facts Of The Case Are That, The Assessee Is An Individual, Filed His Return Of Income For The A.Y.2014-15 On 31.03.2015, Admitting Total Income Of Rs.53,50,976/-. The Case Was Selected For Scrutiny Under Cass For The Reason ‘Suspicious Long Term Capital Gain On Shares’ & During The Course Of Assessment Proceedings, The Assessing Officer, Noticed That The 2 Srinivas Shah Rudra Raju

unexplained cash credit, assessable u/s 68 of the Act. 9 Srinivas Shah Rudra Raju 9. The assessee has relied upon the decision of ITAT Hyderabad in the case of Ishoo Narang Vs. DCIT (supra). We find that the coordinate bench of ITAT has considered identical issue of purchase and sale of shares of Turbotech Engineering Private Ltd and consequent long

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

DCIT., CIRCLE 3(1), HYDERABAD vs. S.P.Y AGRO INDUSTRIES LIMITED, HYDERABAD

In the result, the appeal of the revenue is allowed for statistical\npurposes

unexplained share capital and\n(ii) Rs.23,31,50,007/- on account of bogus purchases.\n2.1 Aggrieved with the order of Ld. AO, the assessee filed an appeal\nbefore the Ld. CIT(A). The Ld. CIT(A) partly allowed the appeal of\nthe assessee.\n2.2 Aggrieved with order of Ld. CIT(A), the revenue and the\nassessee are in appeal

S.P.Y AGRO INDUSTRIES LIMITED,HYDERABAD vs. DCIT., CIRCLE-3(1), HYDERABAD

In the result, the appeal of the revenue is allowed for statistical\npurposes

unexplained share capital and\n(ii) Rs.23,31,50,007/- on account of bogus purchases.\n2.1 Aggrieved with the order of Ld. AO, the assessee filed an appeal\nbefore the Ld. CIT(A). The Ld. CIT(A) partly allowed the appeal of\nthe assessee.\n2.2 Aggrieved with order of Ld. CIT(A), the revenue and the\nassessee are in appeal

DEEPAK NAGORI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-8(3), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year:2012-13 Shri Deepak Nagori Vs. Income Tax Officer Hyderabad Ward 8(3) Hyderabad (Appellant) (Respondent) Pan:Abspn3300M Assessee By: None Revenue By: Shri K. Madhusudan, Cit(Dr) Date Of Hearing: 07/12/2023 Date Of Pronouncement: 12/12/2023 Order Per Laliet Kumar, J.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.05.2018 Of The Learned Cit (A)-2, Hyderabad Relating To A.Y.2012-13. 2. The Grounds Raised By The Assessee Reads As Under: “1. That The Appellant Is An Individual & Filed His Income Tax Return (Tr) For Fy 2011-12 By Declaring Income Of Rs.5,82,686/-. The Itr Includes Long Term Capital Gains Of Rs.23,08,721/- & Claimed Exemption Under Section 10(38) Of It Act 1961. Notices Issued Under Section 148 & Notice Under Section 142(1) Of The Income Tax Act, 1961. The Ld. Ao Passed The Assessment Order Under Section 143(3) R.W.S. 147 Of The I.T Act, 1961 & The Same Was Upheld By Ld. Cit(A).

unexplained investment under section 69 of IT Act, 1961. In other words, the case was not assessed on its own and independent merits. 3. That the Appellant held very insignificant share of the amalgamated company (24000 shares which accounts for 0.25% of the shareholding of 9714280 total shares). Hence, it was impossible for Appellant to play any role

KASIREDDY SASIKALAMMA,NELLORE vs. ITO., WARD -1, GUDUR

Bench: Us:

Investment u/s 69B-Land Purchased-Rs.13,90,000/- (vii) The Learned AO/CIT(A) has travelled beyond the scope of the re- opening while making an addition (ix) The Learned AO/CITL(A) has failed to note that the purchase is that of an agriculturist land and De information was voluntarily made available by the Appellant himself. (x) The sources

FARMAX INDIA LIMITED,,HYDERABAD vs. DCIT, CIRCLE 1(3), HYDERABAD

In the result, the appeal filed by the assessee is dismissed and the appeal filed by the revenue is allowed

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyassessment Year: 2009-10 Farmax India Limited Vs. Dcit,Circle-1(3) 4Th Floor, Alluri Trade Centre I.T.Towers, A.C.Guards Bhagayanagar Colony Masab Tank Opp.Kphb Colony Hyderabad Kukatpally Hyderabad-500 072

unexplained share capital u/s. 68 of the I.T.Act C - Addition of Rs.2,32,58,123/- on account of bogus raw materials D - Rs.20,46,634/- on account of bogus packing material and E. Rs.7,11,933/- being disallowance u/s.40(a)(ia) 11 Farmax India Ltd. 18. In appeal, the ld.CIT(A) sustained the addition of Rs.7,11,933/- and Rs.27