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
ITA 369/HYD/2019[2014-15]Status: DisposedITAT Hyderabad22 Nov 2023AY 2014-15
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
For Appellant: Shri S. Rama Rao, AdvocateFor Respondent: Shri CH V Gopinath, CIT(DR)
Section 10(38)Section 132Section 143(2)Section 153ASection 68
capital gains of Rs.5,96,11,906/-. Thus, during the assessment year, the column ‘Asset’ does not show either the investment in the immovable property being land or building or both, shares and securities, loans and advances. In the absence of any asset being in possession of the assessee, the Assessing Officer shall not have issued the notice
