SARAT GOPAL BOPPANA,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

capital gain by applying provision of Section 50C of the Income Tax Act, 1961. The learned counsel for the assessee, at the time of hearing submitted that the assessee does not wish to press ground nos.3 and 4. Therefore, the grounds nos.3 and 4 of assessee’s appeal are dismissed, as not pressed. 13. In the result, the appeal

SARAT GOPAL BOPPANA,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(3),, HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

capital gain by applying provision of Section 50C of the Income Tax Act, 1961. The learned counsel for the assessee, at the time of hearing submitted that the assessee does not wish to press ground nos.3 and 4. Therefore, the grounds nos.3 and 4 of assessee’s appeal are dismissed, as not pressed. 13. In the result, the appeal

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. TARA CHAND BOPPANA, HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

capital gain by applying provision of Section 50C of the Income Tax Act, 1961. The learned counsel for the assessee, at the time of hearing submitted that the assessee does not wish to press ground nos.3 and 4. Therefore, the grounds nos.3 and 4 of assessee’s appeal are dismissed, as not pressed. 13. In the result, the appeal

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. JHANSI RANI BOPPANA, HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

capital gain by applying provision of Section 50C of the Income Tax Act, 1961. The learned counsel for the assessee, at the time of hearing submitted that the assessee does not wish to press ground nos.3 and 4. Therefore, the grounds nos.3 and 4 of assessee’s appeal are dismissed, as not pressed. 13. In the result, the appeal

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. SARAT GOPAL BOPPANA, HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

capital gain by applying provision of Section 50C of the Income Tax Act, 1961. The learned counsel for the assessee, at the time of hearing submitted that the assessee does not wish to press ground nos.3 and 4. Therefore, the grounds nos.3 and 4 of assessee’s appeal are dismissed, as not pressed. 13. In the result, the appeal

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. KAVYA BOPPANA, HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

capital gain by applying provision of Section 50C of the Income Tax Act, 1961. The learned counsel for the assessee, at the time of hearing submitted that the assessee does not wish to press ground nos.3 and 4. Therefore, the grounds nos.3 and 4 of assessee’s appeal are dismissed, as not pressed. 13. In the result, the appeal

ACIT, CENTRAL CIRCLE-3(1), HYDERABAD vs. SRI CHAITANYA EDUCATIONAL COMMITTE, VIJAYAWADA

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

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

3) had substantial interest during the year (as discussed in paragraph No. 20 above). Thus, the total amount which has to suffer tax at maximum marginal rate works out to Rs.26,11,20,759/-. 25. As discussed in the above paragraphs when an assessee forfeits exemption consequent to violation of provisions of section 13(1)(c) the amount of income

INCOME TAX OFFICER, WARD-1, CHITTOOR vs. G VIJAYASIMHA REDDY, BENGALURU

In the result, the appeal of Revenue in ITA

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

Section 54F of the Income tax Act, 1961. Hence he admitted the income received from the project as capital gains and claimed exemption u/s 54F. For all the above reasons discussed above the request of the assessee vide his letter dated 11.12 2017 received in this office on 15.12.2017 to consider the receipts from the project as capital gains

NETMATRIX CROP CARE PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-5(1), HYDERABAD

Bench: Us:

3.—For the purposes of this clause, "transfer" shall have the meaning assigned to it in clause (47);]” 13 Netmatrix Crop Care Pvt. Ltd. 10. We find on a careful perusal of Sub-section (1) of Section 54EC of the Act, the same contemplates that where the capital gain

DCIT, CENTRAL CIRCLE-2(4), HYDERABAD, HYDERABAD vs. LAXMI GARDENS, HYDERABAD, HYDERABAD

In the result, the appeal of Revenue is dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

3.—For the purposes of this clause, the expressions "specified security" and "sweat equity shares" shall have the meanings respectively assigned to them in the Explanation to clause (d)of sub- section (1) of section 115WB; [(42B) "short-term capital gain" means capital gain arising from the transfer of a short-term capital asset ;] 10 Agarwal Industries Pvt.Ltd. 13

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

13. The sole basis for the Assessing Officer to make addition towards Long-Term Capital Gain u/s 68 of the I.T. Act, 1961 is survey conducted u/s 133A of the I.T. Act, 1961 and statement recorded from the assessee u/s 131 of the Act. Although the Assessing Officer rests his observation on the basis of statement recorded

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

13. The sole basis for the Assessing Officer to make addition towards Long-Term Capital Gain u/s 68 of the I.T. Act, 1961 is survey conducted u/s 133A of the I.T. Act, 1961 and statement recorded from the assessee u/s 131 of the Act. Although the Assessing Officer rests his observation on the basis of statement recorded

BRIGHTCOM GROUP LIMITED (FORMERLY KNOWN AS LYCOS INTERNET LIMITED),HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(1),, HYDERABAD

In the result, the appeal filed by the assessee is allowed in terms of our observations given hereinabove

13) of the Income Tax Act, 1961 (for short “the Act”), pertaining to the assessment year 2013-14. 2. The grounds raised by the assessee read as under : “1. Erred in making the ALP adjustment u/s. 92CA(3) of the Act for Rs. 1,16,97,360/- towards Interest 8% on Outstanding Receivables of Rs.14,62,16,997/- from

ISHOO NARANG,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CIRCLE-2(1), HYDERABAD

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

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.319/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2015-16) Ishoo Narang Vs. Dy. C. I. T. Hyderabad Circle 2(1) Pan: Acspn1664K Hyderabad (Appellant) (Respondent) S.A. No.2/Hyd/2024 (Arising Out Of Ita No.319/Hyd/2022) A.Y 2015-16 Ishoo Narang Vs. Dy. C. I. T. Hyderabad Circle 2(1) Pan: Acspn1664K Hyderabad (Appellant) (Respondent)

capital gain in terms of section 45(2) of the I.T. Act, 1961 has been set aside to the file of the Assessing Officer to reconsider the issue in terms of our discussion given herein above. 12. The next issue that came up for our consideration is the addition towards deemed dividend

ANUDEEP NIMMATOORI,HYDERABAD vs. ACIT CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

13 of 133 ITA Nos 591 619 700 Ramesh Babu and Others Rs.1,37,61,200/-. The assessee in his reply dated 10.12.2019 stated that he had sold 4 acres of land to M/s. Incredible India Projects (P) Ltd for an amount of Rs.1,35,00,000/- and the same has been credited to his capital account. The remaining amount

RAJA BABU NIMMATOORI,HYDERABAD vs. ACIT,CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

13 of 133 ITA Nos 591 619 700 Ramesh Babu and Others Rs.1,37,61,200/-. The assessee in his reply dated 10.12.2019 stated that he had sold 4 acres of land to M/s. Incredible India Projects (P) Ltd for an amount of Rs.1,35,00,000/- and the same has been credited to his capital account. The remaining amount

RAJA BABU NIMMATOORI,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(4) , HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

13 of 133 ITA Nos 591 619 700 Ramesh Babu and Others Rs.1,37,61,200/-. The assessee in his reply dated 10.12.2019 stated that he had sold 4 acres of land to M/s. Incredible India Projects (P) Ltd for an amount of Rs.1,35,00,000/- and the same has been credited to his capital account. The remaining amount

ANUDEEP NIMMATOORI,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

13 of 133 ITA Nos 591 619 700 Ramesh Babu and Others Rs.1,37,61,200/-. The assessee in his reply dated 10.12.2019 stated that he had sold 4 acres of land to M/s. Incredible India Projects (P) Ltd for an amount of Rs.1,35,00,000/- and the same has been credited to his capital account. The remaining amount