SRINIVAS SHAH RADRARAJU ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD
In the result, appeal filed by the assessee is allowed
ITA 957/HYD/2019[2014-15]Status: DisposedITAT Hyderabad05 Feb 2025AY 2014-15
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
For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Dr.Sachin Kumar, DR
Section 68
29,74,224/- from transfer of equity shares of Turbotech
Engineering Limited. The Assessing Officer, further noted that the assessee had purchased 50,000 equity shares of Mumbai based Turbotech Engineering Limited @ Rs.2/- per share in the F.Y.2011-12. The above shares have been sold on various dates in the financial year 2013-14, through BSE @ Rs.448/- to 502/- per share
