THULASI CHAMARTHY,CHITTOOR vs. INCOME TAX OFFICER, WARD - 1, CHITTOOR

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

capital gain on the sale of the subject property of Rs.81,62,440/-. 8. Aggrieved, the assessee carried the matter in appeal before the CIT(A) but without success. 9. The assessee being aggrieved with the order of the CIT(A) has carried the matter in appeal before us. 10. We have heard the Learned Authorized Representatives of both parties

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. ASIAN INFRA ESTATES LLP, SECUNDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singh, Hon'Ble Vice- & Shri Manjunatha, G. Accountant Hon'Bleआ.अपी.सं /Ita Nos.683/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2019-20) Asstt. Commissioner Of Vs. Asian Dwellings Llp Income Tax, Hyderabad Central Circle 2(3) Pan:Abmfa1423A Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita Nos.684 & 685/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2018-19 & 2019-20) Asstt. Commissioner Of Vs. Asian Infra Estates Ltd Income Tax, Hyderabad Pan:Aabca7660 & Central Circle 2(3) Hyderabad Asian Infra Estates Llp Hyderabad Pan:Abnf5143L (Appellant) (Respondent) राज" व "ारा/Revenue By:: Shri B. Balakrishna, Dr िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca सुनवाई की तारीख/Date Of Hearing: 26/09/2024 घोषणा की तारीख/Pronouncement: 25/10/2024 आदेश/Order Per Manjunatha, G. A.M These 3 Appeals Filed By The Revenue Are Directed Against The Separate, But Identical Orders Passed By The Learned

gain arising from application of capital asset into stock-in-trade. Whereas, in cases, where the stock-in-trade converted into or treated as capital asset, the existing law does not provide for its taxability. In order to provide simple treatment and describe the practice of difference payment of tax by converting into the inventory into fixed assets, provisions

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. ASIAN DWELLINGS LLP, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singh, Hon'Ble Vice- & Shri Manjunatha, G. Accountant Hon'Bleआ.अपी.सं /Ita Nos.683/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2019-20) Asstt. Commissioner Of Vs. Asian Dwellings Llp Income Tax, Hyderabad Central Circle 2(3) Pan:Abmfa1423A Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita Nos.684 & 685/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2018-19 & 2019-20) Asstt. Commissioner Of Vs. Asian Infra Estates Ltd Income Tax, Hyderabad Pan:Aabca7660 & Central Circle 2(3) Hyderabad Asian Infra Estates Llp Hyderabad Pan:Abnf5143L (Appellant) (Respondent) राज" व "ारा/Revenue By:: Shri B. Balakrishna, Dr िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca सुनवाई की तारीख/Date Of Hearing: 26/09/2024 घोषणा की तारीख/Pronouncement: 25/10/2024 आदेश/Order Per Manjunatha, G. A.M These 3 Appeals Filed By The Revenue Are Directed Against The Separate, But Identical Orders Passed By The Learned

gain arising from application of capital asset into stock-in-trade. Whereas, in cases, where the stock-in-trade converted into or treated as capital asset, the existing law does not provide for its taxability. In order to provide simple treatment and describe the practice of difference payment of tax by converting into the inventory into fixed assets, provisions

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. ASIAN INFRA ESTATES LIMITED, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Singh, Hon'Ble Vice- & Shri Manjunatha, G. Accountant Hon'Bleआ.अपी.सं /Ita Nos.683/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2019-20) Asstt. Commissioner Of Vs. Asian Dwellings Llp Income Tax, Hyderabad Central Circle 2(3) Pan:Abmfa1423A Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita Nos.684 & 685/Hyd/2022 (िनधा"रण वष"/Assessment Year: 2018-19 & 2019-20) Asstt. Commissioner Of Vs. Asian Infra Estates Ltd Income Tax, Hyderabad Pan:Aabca7660 & Central Circle 2(3) Hyderabad Asian Infra Estates Llp Hyderabad Pan:Abnf5143L (Appellant) (Respondent) राज" व "ारा/Revenue By:: Shri B. Balakrishna, Dr िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca सुनवाई की तारीख/Date Of Hearing: 26/09/2024 घोषणा की तारीख/Pronouncement: 25/10/2024 आदेश/Order Per Manjunatha, G. A.M These 3 Appeals Filed By The Revenue Are Directed Against The Separate, But Identical Orders Passed By The Learned

gain arising from application of capital asset into stock-in-trade. Whereas, in cases, where the stock-in-trade converted into or treated as capital asset, the existing law does not provide for its taxability. In order to provide simple treatment and describe the practice of difference payment of tax by converting into the inventory into fixed assets, provisions

ACIT,CENTRAL CIRCLE-3(3), HYDERABAD vs. NARENDRA KUMAR KAMARAJU, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./ I.T.A. No.338/Hyd/2022 ("नधा"रण वष" / Assessment Year: 2020-21) Asst. Commissioner Of Income Vs. Sri Narendra Kumar Tax, Central Circle-3(3), Kamaraju, Hyderabad. 3-83/1/A/5, Nizampet, Kukatpally, Hyderabad. Pan: Aiypk 1035 F (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Ca Ravi Bharadwaj ""याथ" क" ओर से / Respondent By : Sri Kumar Pranav, Cit-Dr

section 2(14), the definition of capital asset is as under: (14) “Capital Asset” means- (a) property of any kind held by an assessee, whether or not connected with his business or profession; In the instant case, it is clear that the land admeasuring Ac 10-00 gts was not held by the appellant and further

INCOME TAX OFFICER, WARD 3(1), HYDERABAD vs. STYPACK PRIVATE LIMITED , HYDERABAD

In the result, the appeal of the revenue is dismissed, while the cross-objection of the assessee company is allowed in terms of our aforesaid observations

Bench: Us:

gains statement and the details of the stock purchased and sold by the assessee company in 5 ITA No.997/Viz/2024 & CO No.27/Hyd/2024 Stypack Private Limited respect of its transactions carried through its broker, viz. M/s RLP Securities Pvt. Ltd., it was found to have sold the shares of Steel Exchange India Ltd. (“SEIL”), as under: (i) On 20/11/2017 @Rs.120.52 per share

GIRISH REDDY ALTHURI,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal of the assessee in ITA No

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

capital gain. 9. On the other hand, ld.DR relied upon the orders passed by the lower authorities. He had submitted that the Department was well within its right to make the addition for A.Y. 2012-13 despite the fact that search was carried out in the premises of assessee on 02.05.2018. He had also submitted that the assessee has given

MAHESH REDDY ALTHURI,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal of the assessee in ITA No

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

capital gain. 9. On the other hand, ld.DR relied upon the orders passed by the lower authorities. He had submitted that the Department was well within its right to make the addition for A.Y. 2012-13 despite the fact that search was carried out in the premises of assessee on 02.05.2018. He had also submitted that the assessee has given

RADHIKA REDDY ALTHURI,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal of the assessee in ITA No

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

capital gain. 9. On the other hand, ld.DR relied upon the orders passed by the lower authorities. He had submitted that the Department was well within its right to make the addition for A.Y. 2012-13 despite the fact that search was carried out in the premises of assessee on 02.05.2018. He had also submitted that the assessee has given

LATHA REDDY ALTHURI,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal of the assessee in ITA No

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

capital gain. 9. On the other hand, ld.DR relied upon the orders passed by the lower authorities. He had submitted that the Department was well within its right to make the addition for A.Y. 2012-13 despite the fact that search was carried out in the premises of assessee on 02.05.2018. He had also submitted that the assessee has given

JITENDER KUMAR GUPTA,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2012-13 Sri Jitender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aappg6606B Assessment Year: 2013-14 Sri Virender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aaspg1887D Assessee By: Shri K.C. Devdas, Ca Revenue By: Smt. T.H. Vijaya Lakshmi, Cit(Dr) Date Of Hearing: 25/09/2023 Date Of Pronouncement: 17/10/2023 Order Per Laliet Kumar, J.M These Are The Two Connected Appeals Filed By The Respective Assessees Are Directed Against The Common Order Dated 27.07.2022 Of The Learned Cit (A)-11, Hyderabad Relating To A.Ys. 2012-13 & 2013-14 Respectively. Since Identical Grounds Have Been Taken By The Assessees In Both These Appeals, Therefore, For Page 1 Of 23

Capital Gain was found in the premises of the assessee and the entire addition made by the Assessing Officer were based on the report of the Investigation Wing, Kolkata pursuant to the survey action carried out in the premises of the broker. Page 15 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar Gupta & Virender Kumar Gupta

ACIT, CENTRAL CIRCLE-3(1), HYDERABAD vs. VIRENDER KUMAR GUPTA, HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2012-13 Sri Jitender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aappg6606B Assessment Year: 2013-14 Sri Virender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aaspg1887D Assessee By: Shri K.C. Devdas, Ca Revenue By: Smt. T.H. Vijaya Lakshmi, Cit(Dr) Date Of Hearing: 25/09/2023 Date Of Pronouncement: 17/10/2023 Order Per Laliet Kumar, J.M These Are The Two Connected Appeals Filed By The Respective Assessees Are Directed Against The Common Order Dated 27.07.2022 Of The Learned Cit (A)-11, Hyderabad Relating To A.Ys. 2012-13 & 2013-14 Respectively. Since Identical Grounds Have Been Taken By The Assessees In Both These Appeals, Therefore, For Page 1 Of 23

Capital Gain was found in the premises of the assessee and the entire addition made by the Assessing Officer were based on the report of the Investigation Wing, Kolkata pursuant to the survey action carried out in the premises of the broker. Page 15 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar Gupta & Virender Kumar Gupta

KANISHK GUPTA ,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-3(1) , HYDERABAD

In the result, the appeal of assessee is allowed

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita No.34/Hyd/2022 (निर्धारण वर्ा / Assessment Year: 2012-13)

Capital Gain was found in the premises of the assessee and the entire addition made by the Assessing Officer were based on the report of the Investigation Wing, Kolkata pursuant to the survey action carried out in the premises of the broker. 18. Recently, we had an occasion to examine an identical issue in the case of Mahesh Reddy

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

capital gain of Rs.6,89,76,599.11 claimed to be exempt u/s 10(38) inspite of producing and furnishing all the necessary evidence for purchase and sale of shares by way of documents, explanations, submissions and information during assessment proceedings which conclusively proved to be genuine transaction. 5. The CIT (Appeals) as well as AO erred in holding that

NEHA AGARWAL ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-1(3), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyनिर्धारण वर्ा आ.अपी.सं अपीलधर्थी प्रत्‍यर्थी / A.Y. / Appellant / Respondent / Ita No. Deputy Smt. Prerana Agarwal, Commissioner Of Hyderabad 458/Hyd/2021 2013-14 Income Tax, [Pan No. Akhpa2924L] Central Circle-1(3), Hyderabad Deputy Smt. Seema Agarwal, Commissioner Of Hyderabad 459/Hyd/2021 2013-14 Income Tax, [Pan No. Aaypa1542R] Central Circle-1(3), Hyderabad Deputy Smt. Neha Agarwal, Commissioner Of Hyderabad 460/Hyd/2021 2013-14 Income Tax, [Pan No. Afhpn9147H] Central Circle-1(3), Hyderabad Deputy Smt. Kavita Agarwal, Commissioner Of Hyderabad 461/Hyd/2021 2013-14 Income Tax, [Pan No. Adzpa0246N] Central Circle-1(3), Hyderabad Deputy Smt. Anita Agarwal, Commissioner Of Hyderabad 462/Hyd/2021 2013-14 Income Tax, [Pan No. Central Circle-1(3), Aampa7043D] Hyderabad Deputy Shri Ankit Agarwal, Commissioner Of Hyderabad 463/Hyd/2021 2013-14 Income Tax, [Pan No. Agjpa1748G] Central Circle-1(3), Hyderabad

Capital Gain on the sale of shares of Gemstone Investments Ltd., to the tune of Rs. 4,39,139/-. The return was processed under section 143(1) of the Act without initiation of the proceedings under section 143(2) of the Act and it attained finality. 3. Subsequently, search and seizure operation under section 132 of the Act was conducted

KAVITHA AGARWAL,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1(3), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyनिर्धारण वर्ा आ.अपी.सं अपीलधर्थी प्रत्‍यर्थी / A.Y. / Appellant / Respondent / Ita No. Deputy Smt. Prerana Agarwal, Commissioner Of Hyderabad 458/Hyd/2021 2013-14 Income Tax, [Pan No. Akhpa2924L] Central Circle-1(3), Hyderabad Deputy Smt. Seema Agarwal, Commissioner Of Hyderabad 459/Hyd/2021 2013-14 Income Tax, [Pan No. Aaypa1542R] Central Circle-1(3), Hyderabad Deputy Smt. Neha Agarwal, Commissioner Of Hyderabad 460/Hyd/2021 2013-14 Income Tax, [Pan No. Afhpn9147H] Central Circle-1(3), Hyderabad Deputy Smt. Kavita Agarwal, Commissioner Of Hyderabad 461/Hyd/2021 2013-14 Income Tax, [Pan No. Adzpa0246N] Central Circle-1(3), Hyderabad Deputy Smt. Anita Agarwal, Commissioner Of Hyderabad 462/Hyd/2021 2013-14 Income Tax, [Pan No. Central Circle-1(3), Aampa7043D] Hyderabad Deputy Shri Ankit Agarwal, Commissioner Of Hyderabad 463/Hyd/2021 2013-14 Income Tax, [Pan No. Agjpa1748G] Central Circle-1(3), Hyderabad

Capital Gain on the sale of shares of Gemstone Investments Ltd., to the tune of Rs. 4,39,139/-. The return was processed under section 143(1) of the Act without initiation of the proceedings under section 143(2) of the Act and it attained finality. 3. Subsequently, search and seizure operation under section 132 of the Act was conducted

PREETI AGARWAL ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-1(3), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyनिर्धारण वर्ा आ.अपी.सं अपीलधर्थी प्रत्‍यर्थी / A.Y. / Appellant / Respondent / Ita No. Deputy Smt. Prerana Agarwal, Commissioner Of Hyderabad 458/Hyd/2021 2013-14 Income Tax, [Pan No. Akhpa2924L] Central Circle-1(3), Hyderabad Deputy Smt. Seema Agarwal, Commissioner Of Hyderabad 459/Hyd/2021 2013-14 Income Tax, [Pan No. Aaypa1542R] Central Circle-1(3), Hyderabad Deputy Smt. Neha Agarwal, Commissioner Of Hyderabad 460/Hyd/2021 2013-14 Income Tax, [Pan No. Afhpn9147H] Central Circle-1(3), Hyderabad Deputy Smt. Kavita Agarwal, Commissioner Of Hyderabad 461/Hyd/2021 2013-14 Income Tax, [Pan No. Adzpa0246N] Central Circle-1(3), Hyderabad Deputy Smt. Anita Agarwal, Commissioner Of Hyderabad 462/Hyd/2021 2013-14 Income Tax, [Pan No. Central Circle-1(3), Aampa7043D] Hyderabad Deputy Shri Ankit Agarwal, Commissioner Of Hyderabad 463/Hyd/2021 2013-14 Income Tax, [Pan No. Agjpa1748G] Central Circle-1(3), Hyderabad

Capital Gain on the sale of shares of Gemstone Investments Ltd., to the tune of Rs. 4,39,139/-. The return was processed under section 143(1) of the Act without initiation of the proceedings under section 143(2) of the Act and it attained finality. 3. Subsequently, search and seizure operation under section 132 of the Act was conducted

ANITHA AGARWAL ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-1(3), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyनिर्धारण वर्ा आ.अपी.सं अपीलधर्थी प्रत्‍यर्थी / A.Y. / Appellant / Respondent / Ita No. Deputy Smt. Prerana Agarwal, Commissioner Of Hyderabad 458/Hyd/2021 2013-14 Income Tax, [Pan No. Akhpa2924L] Central Circle-1(3), Hyderabad Deputy Smt. Seema Agarwal, Commissioner Of Hyderabad 459/Hyd/2021 2013-14 Income Tax, [Pan No. Aaypa1542R] Central Circle-1(3), Hyderabad Deputy Smt. Neha Agarwal, Commissioner Of Hyderabad 460/Hyd/2021 2013-14 Income Tax, [Pan No. Afhpn9147H] Central Circle-1(3), Hyderabad Deputy Smt. Kavita Agarwal, Commissioner Of Hyderabad 461/Hyd/2021 2013-14 Income Tax, [Pan No. Adzpa0246N] Central Circle-1(3), Hyderabad Deputy Smt. Anita Agarwal, Commissioner Of Hyderabad 462/Hyd/2021 2013-14 Income Tax, [Pan No. Central Circle-1(3), Aampa7043D] Hyderabad Deputy Shri Ankit Agarwal, Commissioner Of Hyderabad 463/Hyd/2021 2013-14 Income Tax, [Pan No. Agjpa1748G] Central Circle-1(3), Hyderabad

Capital Gain on the sale of shares of Gemstone Investments Ltd., to the tune of Rs. 4,39,139/-. The return was processed under section 143(1) of the Act without initiation of the proceedings under section 143(2) of the Act and it attained finality. 3. Subsequently, search and seizure operation under section 132 of the Act was conducted