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

Natural Justice (e) The Ld. CIT(A) erred in holding that the transaction of Long Rs. Term Capital Gains declared

ISHOO NARANG,HYDERABAD vs. DCIT 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.450/Hyd/2022 & S.A. No.1/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2014-15) Ishoo Narang Vs. Dy. Cit Hyderabad Circle 2(1) Pan:Aaupn9082B Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Smt. Th Vijaya Lakshmi, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 19/08/2024 घोषणा की तारीख/Pronouncement: 25/09/2024 आदेश/Order Per Manjunatha, G. A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 15/07/2022 Of The Learned Cit (A)-Nfac Delhi, Relating To A.Y.2014-15. 2. The Assessee Has Raised The Following Grounds: “1. The Ld. Cit(A) Erred In Dismissing The Appeal. 2. The Ld.Cit(A) Erred In Holding That Al The Mandatory Preconditions Before Reopening Of Assessment U/S 147 Of The Act Were Duly Complied & Met With By The A.O.

Capital Gain for a commission. ii) The financial result of the Penny Stocks used for the purpose clearly indicates that its quoted price at the peak was the result of rigging. iii) That such schemes are prevalent for converting black money into white is common knowledge, independently confirmed by SEBI. iv) The assessee is one such beneficiary who has taken

ARUN KUMAR GOYAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

capital gain. 8.9. It is also brought on record for your kind reference that SEBI vide its order dated 21st September 2017 has revoked the ban on Kailash Auto Finance Ltd. Para 5 of the said order reads as under “Pursuant to the interim order, SEBI conducted a detailed investigation into the role of various entities in price manipulation

TARUN KUMAR GOYAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1)2, HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

capital gain. 8.9. It is also brought on record for your kind reference that SEBI vide its order dated 21st September 2017 has revoked the ban on Kailash Auto Finance Ltd. Para 5 of the said order reads as under “Pursuant to the interim order, SEBI conducted a detailed investigation into the role of various entities in price manipulation

TARUN KUMAR GOYAL ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

capital gain. 8.9. It is also brought on record for your kind reference that SEBI vide its order dated 21st September 2017 has revoked the ban on Kailash Auto Finance Ltd. Para 5 of the said order reads as under “Pursuant to the interim order, SEBI conducted a detailed investigation into the role of various entities in price manipulation

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

capital gains as ‘un-accounted income’; and it is for the assessee to establish creditworthiness of companies and that rise of price of shares within a short period of time was genuine, genuineness could not be established merely on basis of documents like bank details, purchase/sale documents and detail of demat account. Hon’ble Court further held that in absence

MOHAMMED SAYEED QURESHI,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMMED ABBAS,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMED GHANI QURESHI,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMMED SAYEED QURESHI,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMMED ABBAS,RANGA REDDY vs. INCOME TAX OFFICER, WARD-15(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHMOODA BEGUM,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMMED JAML QURESHI,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHMOODA BEGUM,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMED JAMAL QURESHI,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

MOHAMMED GHANI QURESHI,RANGA REDDY vs. INCOME TAX OFFICER, WARD-8(1), HYDERABAD

In the result, both the appeals of the assessee for AY

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

natural justice. 2. That, Smt. Mahmooda Begum is the absolute owner of the agricultural property for Sy. No. 237, 238 and 242 total admeasuring to an extent of Ac 1-01 Guntas, situated in Narsingi Village, Narsingi Gram Panchayat, Rajendra Nagar MandaI, Ranga Reddy District vide registered document no 3641/98 dated 12 November 1998 and vide registered document 2130/99 dated

C VAMSI KRISHNA ,HYDERABAD vs. DY.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, HYDERABAD

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

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2010-11 C.Vamsi Krishna V Dcit,Cc-2 Flat No.-401 S. Aaykar Bhawan Rohiwal Windsor Basheerbagh Apartment, Hill Fort Road Hyderabad-500 04 Saifabad Hyderabad-500 004

capital gain on transfer of property. Hence taxing the same as unexplained credits in AY 2009-10 leads to double taxation. 11. The Appellant may add or alter or amend or modify or substitute or delete and/or rescind all or any of the grounds of appeal at any time before or at the time of appeal. 4. The ld. Counsel

ASSISTANT COMMISSIONER OF INCOME TAX ,CIRCLE-1(1) , TIRUPATI vs. VENKATA SWAMY RAVURI , CHITTOOR

In the result, the appeal of the Revenue is allowed for\nstatistical purposes

capital gain of Rs 1,95,9 1,540/- by relying solely\non the Balance sheet filed for the A.Y 2017-18 and deciding\nthat the total value of the block of asset stood at\nRs.3,15,06,000/- whereas in the ITR filed for the previous\nyears and the year under question, the total value of the\nbuilding

G2 CORPORATE SERVICES LLP, (FORMERLY M/S. G2 CORPORATE SERVICES LTD), SEC'BAD,HYDERABAD vs. DCIT, CIRCLE-2(3), HYDERABAD, HYDERABAD

In the result, both the appeals of assessee are partly allowed

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

capital gains’ only. Grounds on this issue are allowed. Disallowance u/s. 14A: 3. This issue arises in both the assessment years i.e., AY. 2009-10 as well as in AY. 2011-12. In AY. 2009-10, AO disallowed an amount of Rs. 1,87,52,042/- invoking Rule 8D(2)(iii) as percentage of average value of investments. Ld.CIT