CHINTALAPATI HOLDINGS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

14A of the Act and interest on borrowed capital allowed under section 24(b) of the Act has to be disallowed. 12. Learned CIT(A) found that the assessee earned Rs. 16,67,49,213/- towards exempt income on capital gains

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

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

OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, both the appeals for AY 2011-12 and 2012-

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

capital gains. 7.2 Therefore, income has to be determined strictly as per the provisions of I.T. Act and not as per Companies Act/Book profit. Only in specific situation book profit is considered for only determining the taxable income u/s 115JB. In no other 10 I.T.A. Nos. 438 to 440/Hyd/2016 Ocean Sparkle Ltd., Hyd. situation, the book profit is considered

OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, both the appeals for AY 2011-12 and 2012-

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

capital gains. 7.2 Therefore, income has to be determined strictly as per the provisions of I.T. Act and not as per Companies Act/Book profit. Only in specific situation book profit is considered for only determining the taxable income u/s 115JB. In no other 10 I.T.A. Nos. 438 to 440/Hyd/2016 Ocean Sparkle Ltd., Hyd. situation, the book profit is considered

OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, both the appeals for AY 2011-12 and 2012-

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

capital gains. 7.2 Therefore, income has to be determined strictly as per the provisions of I.T. Act and not as per Companies Act/Book profit. Only in specific situation book profit is considered for only determining the taxable income u/s 115JB. In no other 10 I.T.A. Nos. 438 to 440/Hyd/2016 Ocean Sparkle Ltd., Hyd. situation, the book profit is considered

AMARA RAJA ENERGY AND MOBILITY LIMITED,TIRUPATI vs. DCIT., CIRCLE-1(1), TIRUPATI

In the result, appeal of the Assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.791/Hyd/2025 Assessment Year 2021-2022 Amara Raja Energy & Mobility Limited, The Dcit, Circle-1(1), Vs. Tirupati – 517 520. Tirupati Pan Aabca9264E (Appellant) (Respondent) िनधा"रती "ारा /Assessee By: Ca E Phalguna Kumar राज" व "ारा /Revenue By: Sri Pavan Kumar Beerla, Cit-Dr

capital gain from sale of immovable property which in fact is sale of mutual funds. The learned Authorised Representative of the Assessee has referred to the show cause notice issued by the Assessing Officer u/sec.142(1) of the Act dated 12.10.2022 and particularly, the query no.3 of the said show cause notice which reads as under: “3. From the perusal

ASIAN INSTITUTE OF GASTROENTEROLOGY PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, appeals filed by the assessee for both the assessment years 2020-2021 and 2021-2022 are allowed

Bench: Shri Manjunatha G & Shri Ravish Sood

capital gain from sale of investments and the same is subjected to tax. However, the 9 ITA.Nos.609 & 610/Hyd./2025 learned PCIT without verifying the relevant facts, simply invoked jurisdiction under section 263 of the Act on the issue of disallowance of expenses relatable to exempt income under section 14A

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-10(1), HYDERABAD vs. VERTEX PROJECTS LLP (FORMERLY M/S VERTEX PROJECTS LTD) , HYDERABAD

In the result, the appeal of Revenue is partly allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2014-15 Acit,Circle-10(1) Vs. Vertex Projects Llp Room No.515, 5Th Floor, (Formerly M/S.Vertex A-Block, I.T.Towers, Projects Ltd.) A.C.Guards, #156-159, Paigah House Hyderabad. S.P.Road, Next To Pg College. Secunderabad-500 026. Pan : Aanfv0232C (Appellant) (Respondent) Assessee By: Shri Sriram Seshadri, Ca Revenue By: Shri Rajendra Kumar,Cit-Dr Date Of Hearing: 15.03.2023 Date Of Pronouncement: 28.04.2023 O R D E R Per Shri Laliet Kumar, J.M. This Is An Appeal Filed By The Revenue, Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-5, Dated 16.03.2018 For The Ay 2014-15, On The Following Grounds :

Section 14A of the Act. " 11.8 In the case of Holcin India (P) Ltd. (supra) the facts were that the respondent- assessee was a subsidiary of Holderind Investments Ltd., Mauritius, which was formed as a holding company for 'making downstream investments in cement manufacturing ventures in India. In the return of income filed for the Assessment Year

BALA REDDY GOPU, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD, HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri D. Manmohan & Shri S. Rifaur Rahman

section 14A cannot be invoked without proper satisfaction recorded by the AO. For this proposition, he relied on the decision in the case of Reliance Capital. He also submitted that CIT(A) has enhanced the addition to the extent of Rs. 35,13,391/- by observing that the expenditure disallowable u/s 14A of the Act is more than the expenditure

SHRI RAMPRIYA DEVELOPERS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOMETAX, CIRCLE-3(1), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No.1946/Hyd/2017 (िनधा"रण वष"/Assessment Year: 1999-2000) Shri Rampriya Developers Vs. Dy. C. I. T. (P) Ltd Circle 3(1) Hyderabad Hyderabad Pan:Aajcs6629P (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri A.V. Raghuram, Advocate राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 09/07/2024 घोषणा की तारीख/Pronouncement: 14/08/2024 आदेश/Order

section 14A have no application and, therefore ought to have allowed the entire claim of interest payment on borrowed funds amounting to Rs.35,60,747/- or alternatively the entire amount ought to have considered the cost of shares and deduction shall be provided from the sale consideration of shares while arriving Short Term Capital Loss. 4. The learned Commissioner

LYCOS INTERNET LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD

Bench: Shri Vijay Pal Rao, Vice- & Shri Madhusudan Sawdia

gains from business and profession'. What happens is that, in the process, when the shares are held as 'stock-in-trade', certain dividend is also earned, though incidentally, which is also an income. However, by virtue of Section 10 (34) of the Act, this dividend income is not to be included in the total income and is exempt from

DY. COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), HYDERABAD vs. UNION BANK OF INDIA, HYDERABAD

In the result, the appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.1018/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Andhra Bank Vs. Dy. C. I. T. Hyderabad Circle 1(1) Pan:Aabca7375C Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.1230/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13 ) Dy. C. I. T. Vs. Andhra Bank Circle 1(1) Hyderabad Hyderabad Pan:Aabca7375C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ananthan, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 02/07/2024 घोषणा की तारीख/Pronouncement: 28/08/2024 आदेश/Order Per Manjunatha, G. A.M These Cross Appeals Filed By The Assessee, As Well As The Revenue, Are Directed Against The Order Dated 16/02/2016 Of Page 1 Of 59

gains from business and profession’. What happens is that, in the process, when the shares are held as ‘stock-in-trade’, certain dividend is also earned, though incidentally, which is also an income. However, by virtue of Section 10 (34) of the Act, this dividend income is not to be included in the total income and is exempt from

UNION BANK OF INDIA,HYDERABAD vs. DY. COMMISSISONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD

In the result, the appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.1018/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Andhra Bank Vs. Dy. C. I. T. Hyderabad Circle 1(1) Pan:Aabca7375C Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.1230/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13 ) Dy. C. I. T. Vs. Andhra Bank Circle 1(1) Hyderabad Hyderabad Pan:Aabca7375C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ananthan, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 02/07/2024 घोषणा की तारीख/Pronouncement: 28/08/2024 आदेश/Order Per Manjunatha, G. A.M These Cross Appeals Filed By The Assessee, As Well As The Revenue, Are Directed Against The Order Dated 16/02/2016 Of Page 1 Of 59

gains from business and profession’. What happens is that, in the process, when the shares are held as ‘stock-in-trade’, certain dividend is also earned, though incidentally, which is also an income. However, by virtue of Section 10 (34) of the Act, this dividend income is not to be included in the total income and is exempt from

KP ADVISORY SERVICES LLP,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(1), HYDERABAD

In the result, appeal of the Assessee is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Manjunatha G.आ.अपी.सं /Ita No.1013/Hyd/2025 Assessment Year 2018-2019 Kp Advisory Services Llp, The Acit, Hyderabad. Pin–500 016. Vs. Central Circle-2(1), Telangana. Hyderabad. Pan Aarfk7349F (Appellant) (Respondent) िनधा"रती "ारा /Assessee By: Sri Sp Chidambaram, Advocate राज" व "ारा /Revenue By: Sri Ashutosh Pradhan, Sr. Ar सुनवाई की तारीख/Date Of Hearing: 10.12.2025 घोषणा की तारीख/Pronouncement: 09.01.2026 आदेश/Order

Section 14A of the Act disregarding the fact that no expenditure was incurred by the Appellant in earning any exempt income. 4. On the facts and circumstances of the case, the Learned CIT(A) erred by not allowing deduction of Rs.64,93,628 from the Capital Gains

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

section 14A, expenditure incurred in relation to income which does not form part of total income shall be disallowed and also referring to the CBDT Circular No. 5/2014, dated 11/02/2014, the AO computed the disallowance u/s 14A at Rs. 13,51,57,665/- and added to the income returned by the assessee. He, accordingly, assessed the gross total income

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

section 14A, expenditure incurred in relation to income which does not form part of total income shall be disallowed and also referring to the CBDT Circular No. 5/2014, dated 11/02/2014, the AO computed the disallowance u/s 14A at Rs. 13,51,57,665/- and added to the income returned by the assessee. He, accordingly, assessed the gross total income

ANDHRA PRADESH INDUSTRIAL DEVELOPMENT CORPORATION LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

In the result, appeal of the assessee is partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2013-14 Andhra Pradesh Industrial Vs. Dy. Commissioner Of Development Ltd., Income-Tax, Hyderabad. Circle – 1(1), Hyderabad. Pan – Aabca 7395 Q (Appellant) (Respondent) Assessee By: Shri A.V. Raghuram Revenue By: Smt. Matta Padma Date Of Hearing: 07/12/2021 Date Of Pronouncement: 13/12/2021

gains and taxing it at 30% on the ground that no documentary evidence is filed though never such a question is put to the assessee and further that the assessee complied with the directions of the learned C1T(A) for filing minutes of the Board and details of payments received on divestment with regard to the computation of Capital loss