KIRAN BALA GUPTA,HYDERABAD vs. ITO, WARD-10(1), HYDERABAD

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

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.341/Hyd/2025 (िनधा"रण वष"/Assessment Year: 2012-13) Smt. Kiran Bala Gupta, Vs. Income Tax Officer, Hyderabad. Ward-10(1), Pan: Ahvpg6893K Hyderabad. (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Av Raghuram, Advocate राज" व "ारा/Revenue By: Ms. Aditi Goyal, Sr. Ar सुनवाई की तारीख/Date Of Hearing: 04/02/2026 घोषणा की तारीख/Date Of 20/02/2026 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, Dated 20/12/2024, Which In Turn Arises From The Order Passed By The Assessing Officer (For Short, “Ao”) Under Section 271(1)(C) Of The Income Tax Act, 1961 (For Short, “The Act”), Dated 30/08/2022 For The Assessment Year (Ay) 2012-13. The Assessee Has Assailed The Impugned Order Of The Cit(A) On The Following Grounds Of Appeal:

section 271(1)(c) of the Act. Elaborating on his contention, the Ld. AR had advanced his contention qua the different facets of additions regarding which the penalty had been imposed upon the assessee company. 11. The Ld. AR submitted that the penalty levied in respect of the addition of Rs.1,86,32,023/- relating to long term capital gains

VINOD AERUKALA ,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(2), HYDERABAD

In the result, the appeals filed by the respective assessees are dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2012-13 Moola Padmaja Vs. Acit,Cc-3(2) 8-1-293/A/74/A 7Th Floor Dwaraka Nagar Colony Aaykar Bhawan Narayanamma Engineering Basheer Bagh College, Raidurg Hyderabad-500 004 Hyderabad-500 008 Pan : Aoipp2482B Assessment Year: 2012-13 Vinod Aerakula Vs Acit,Cc-3(2) B-109, Western Plaza 7Th Floor Hussain Shahwali Darha Aaykar Bhawan Shaikpet, Hyderabad Basheer Bagh Telangana Hyderabad-500 004 Pan : Aoopa5855R (Appellant) (Respondent) Assessee By: Shri K.C.Devdas, Ca Revenue By: Shri K.P.R.R.Murthy, Sr.Ar Date Of Hearing: 15.02.2023 Date Of Pronouncement: 22.02.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): The Above Two Appeals Filed By The Respective Assessees Are Directed Against The Separate Orders Dated 31.03.2022 & 27.3.2022 Respectively Of The Learned Cit(A) (Appeals)-11, Hyderabad Relating To Ay 2012-13. Since Identical Grounds Have Been Raised By The Respective Assessees, Therefore, These Were Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Convenience.

capital gain in the return of income filed u/s 148 of the 1T Act. 4. The Hon'ble CIT(A) should have considered that this is a case which falls under explanation 1 to section 271

MOOLA PADMAJA,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(2), HYDERABAD

In the result, the appeals filed by the respective assessees are dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2012-13 Moola Padmaja Vs. Acit,Cc-3(2) 8-1-293/A/74/A 7Th Floor Dwaraka Nagar Colony Aaykar Bhawan Narayanamma Engineering Basheer Bagh College, Raidurg Hyderabad-500 004 Hyderabad-500 008 Pan : Aoipp2482B Assessment Year: 2012-13 Vinod Aerakula Vs Acit,Cc-3(2) B-109, Western Plaza 7Th Floor Hussain Shahwali Darha Aaykar Bhawan Shaikpet, Hyderabad Basheer Bagh Telangana Hyderabad-500 004 Pan : Aoopa5855R (Appellant) (Respondent) Assessee By: Shri K.C.Devdas, Ca Revenue By: Shri K.P.R.R.Murthy, Sr.Ar Date Of Hearing: 15.02.2023 Date Of Pronouncement: 22.02.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): The Above Two Appeals Filed By The Respective Assessees Are Directed Against The Separate Orders Dated 31.03.2022 & 27.3.2022 Respectively Of The Learned Cit(A) (Appeals)-11, Hyderabad Relating To Ay 2012-13. Since Identical Grounds Have Been Raised By The Respective Assessees, Therefore, These Were Heard Together & Are Being Disposed Of By This Common Order For The Sake Of Convenience.

capital gain in the return of income filed u/s 148 of the 1T Act. 4. The Hon'ble CIT(A) should have considered that this is a case which falls under explanation 1 to section 271

PARANJYOTHI THOTA,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha G.आ.अपी.सं /Ita Nos. 2050 & 2079/Hyd/2025 (निर्धारण वर्ा/Assessment Year: 2012-13) Smt. Paran Jyothi Thota Vs. Asstt. Cit Hyderabad Circle 5(1) Pan:Ajqpt7772F Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Advocate C. Anurag रधजस् व द्वधरध/Revenue By: Dr. Sachin Kumar, Sr. Dr सुिवधई की तधरीख/Date Of Hearing: 12/02/2026 घोर्णध की तधरीख/Pronouncement: 25/02/2026 आदेश/Order Per Manjunatha, G. A.M. These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, Dated 09/09/2025 & 25/09/2025, For The Assessment Year 2012-13. Page 1 Of 33

Capital Gain realized from transfer of property. Thereafter, the penalty proceedings under section 271(1)(c) of the Act were

PARANJYOTHI THOTA,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha G.आ.अपी.सं /Ita Nos. 2050 & 2079/Hyd/2025 (निर्धारण वर्ा/Assessment Year: 2012-13) Smt. Paran Jyothi Thota Vs. Asstt. Cit Hyderabad Circle 5(1) Pan:Ajqpt7772F Hyderabad (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Advocate C. Anurag रधजस् व द्वधरध/Revenue By: Dr. Sachin Kumar, Sr. Dr सुिवधई की तधरीख/Date Of Hearing: 12/02/2026 घोर्णध की तधरीख/Pronouncement: 25/02/2026 आदेश/Order Per Manjunatha, G. A.M. These Two Appeals Filed By The Assessee Are Directed Against The Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi, Dated 09/09/2025 & 25/09/2025, For The Assessment Year 2012-13. Page 1 Of 33

Capital Gain realized from transfer of property. Thereafter, the penalty proceedings under section 271(1)(c) of the Act were

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

In the result, appeal filed by the assessee is allowed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No.635/Hyd/2022 & Sa No.49/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2015-16) Shri Sarat Gopal Boppana Vs. Asstt. C. I. T. Hyderabad Central Circle 2(3) Pan:Afcpb8083K Hyderabad (Appellant) (Respondent) ि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: 19/06/2024 घोषणा की तारीख/Pronouncement: 07/08/2024 आदेश/Order

section 271(1)(c) of the I.T. Act, 1961, it can be said there is no concealment of income and penalty cannot be levied u/s 271(1)(c) of the Act. 12. Be that as it may, coming back to another aspect of the issue. Admittedly, additional income declared by the assessee towards Short-Term Capital Gain

DEEPAK NAGORI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-8(3), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year:2012-13 Shri Deepak Nagori Vs. Income Tax Officer Hyderabad Ward 8(3) Hyderabad (Appellant) (Respondent) Pan:Abspn3300M Assessee By: None Revenue By: Shri K. Madhusudan, Cit(Dr) Date Of Hearing: 07/12/2023 Date Of Pronouncement: 12/12/2023 Order Per Laliet Kumar, J.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.05.2018 Of The Learned Cit (A)-2, Hyderabad Relating To A.Y.2012-13. 2. The Grounds Raised By The Assessee Reads As Under: “1. That The Appellant Is An Individual & Filed His Income Tax Return (Tr) For Fy 2011-12 By Declaring Income Of Rs.5,82,686/-. The Itr Includes Long Term Capital Gains Of Rs.23,08,721/- & Claimed Exemption Under Section 10(38) Of It Act 1961. Notices Issued Under Section 148 & Notice Under Section 142(1) Of The Income Tax Act, 1961. The Ld. Ao Passed The Assessment Order Under Section 143(3) R.W.S. 147 Of The I.T Act, 1961 & The Same Was Upheld By Ld. Cit(A).

section 10(38) of the Act of Rs. 23,08,721 was claimed. 9. Thus, the Assessing Officer concluded that mere investment of Rs.24,000/- is returned, an income of Rs.23,32,721/- which is 97 times of investment and the increase is 9620%. In view of the above observation, Assessing Officer Page

GADDAM MOHAN REDDY,NIZAMABAD vs. INCOME TAX OFFICER, WARD 1, NIZAMABAD, NIZAMABAD

Bench: the AO during re-assessment proceedings.4. The authorities below further failed to appreciate that on the same set of facts, the AO with all his expertise on the provisions of the Act has allowed the deduction claimed Under Section 54F of the Act in the assessment order passed Under Section 143(3) r.w.s Section 147 of the Act and that deduction claimed by the appellant Under Section 54F of the Act was by inadvertent.

capital gains of 5 Gaddam Mohan Reddy vs. ITO Rs.16,29,727/-. The AO while culminating the assessment, inter alia, initiated penalty proceedings under section 274 r.w.s 271

NIMMATOORI YASHODA,HYDERABAD vs. DCIT., CENTRAL CIRCLE 2(4), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

271, a proper satisfaction must be recorded to initiate penalty proceedings u/s 271D instead of a mere statement given by the AO in his order dated 21.12.2019. 9. a . The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15 taken before him. b. Without prejudice to other grounds, the Ld. CIT(A) ought to have appreciated that

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

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

271, a proper satisfaction must be recorded to initiate penalty proceedings u/s 271D instead of a mere statement given by the AO in his order dated 21.12.2019. 9. a . The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15 taken before him. b. Without prejudice to other grounds, the Ld. CIT(A) ought to have appreciated that

RAJASEKHAR NAIDU GALLA,TIRUPATI vs. DCIT., CIRCLE-1(1), TIRUPATHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

gain. Further, the assessee had purchased securities worth Rs. 49,10,027/- and sold securities for a sale consideration of Rs. 12,17,454/- and admitted income from other sources to the tune of Rs. 45,271/-. The A.O. ought to have assessed this income under the head ‘income from business or profession’ or ‘capital gain/loss’, These discrepancies indicate that

PROTON POSITIVE HEALTH CARE INDIA PRIVATE LIMITED,HYDERABAD vs. ACIT., CIRCLE -16(2), HYDERABAD

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

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.812/Hyd/2025 (िनधा"रण वष"/Assessment Year: 2016-17) Proton Positive Health Vs. Assistant Commissioner Care India Private Limited, Of Income Tax, Hyderabad. Circle-16(2), Pan: Aafcp6862K Hyderabad. (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M.V. Prasad, Ca राज" व "ारा/Revenue By: Dr. Sachin Kumar, Sr. Ar सुनवाई की तारीख/Date Of Hearing: 19/11/2025 घोषणा की तारीख/Date Of 03/12/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Company Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals) (For Short, “Cit(A)”) Dated 07/03/2025, Which In Turn Arises From The Order Passed By The Assessing Officer (For Short, “Ao”) Under Section 271(1)(C) Of The Income-Tax Act, 1961 (For Short, “Act”) Dated 28/06/2019 For Ay 2016-17. The Assessee Has Assailed The Impugned Order Passed By The Cit(A) On The Following Grounds Of Appeal Before Us:

271(1)(c) could have been validly imposed. 14. Apropos the penalty imposed by the AO regarding the addition of the premium received by the assessee company on allotment of shares to its holding company under section 56(2)(viib) of the Act, we find that it is a matter of fact borne from the record that the assessee

GRANULES INDIA LIMITED,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Manjunatha G. Hon’Bleआयकर अपील सं / Ita No.1289/Hyd/2025 (निर्धारण वर्ा/Assessment Year:2010-11) Granules India Limited Vs. Dcit- Circle -2(1) 15Th Floor, Granules Tower Signature Tower, Botanical Garden Road Sy. No. 6(P) Of Kondaput Kondapur, Hyderabad – 500084 Sy. No. 37 Of Kothaguda Telangana Opp. Botanical Gardens Serilingampalluy, R.R. District Pan: Aaacg7369K Hyderabad-500084, Telangana (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent)

271(1)(c) initiated by the learned Assessing Officer on the addition. 3 Granules India Limited 7. On the facts and in the circumstances of the case, the learned Commissioner of Income-tax (Appeals) -12, Hyderabad erred by confirming the erroneous calculation of interest made by the learned Assessing officer. 8. The Appellant craves your honors leave to add/ alter

ANNAPURNA BODDU,WEST GODAVARI vs. ACIT, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarआ.अपी.सं /Ita No. 1/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2014-15) Annapurna Boddu Vs. Assistant. C. I. T. West Godavari Central Circle 1(2) Pan:Ayxpb7323A Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri S.Rama Rao, Advocate राज" व "ारा/Revenue By:: Smt. Sheetal Sarin, Dr सुनवाई की तारीख/Date Of Hearing: 06/03/2024 घोषणा की तारीख/Pronouncement: 27/03/2024 आदेश/Order

section 10(38) of the IT Act, 1961. 4. During the course of assessement proceedings, the Assessing Officer confronted the assessee to explain as to why the Long-Term Capital Gain should not be added to the total income of the assessee. He also confronted the statement recorded of his son Sri Boddu Srinivas

DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. HSBC ELECTRONIC DATA PROCESSING INDIA PRIVATE LIMITED, , HYDERABAD

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

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

capital in nature and depreciation should be claimed on the same. Computation of deduction under section 10A of the Act 6. (a) erred in excluding the gross amount of foreign exchange gain on hedging with forward contracts / marked to market gains of Rs. 106,68,32,843 from the export turnover of ITES for the purpose of computing the deduction

PRAKASH LAL POTLURI,HYDERABAD vs. INCOME TAX OFFICER, (INT TAXN)-2,HYD, HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2015-16 Prakash Lal Potluri, Vs. The Income Tax Officer, Hyderabad. (International Taxation)-2, Hyderabad. Pan : Gnkpp1085B. (Appellant) (Respondent) Assessee By: None Revenue By: Sri M. Vijay Kumar – Cit-Dr Date Of Hearing: 29.02.2024 Date Of Pronouncement: 29.02.2024

Capital Gains without having any material on record that the assessee received the sale consideration. 8. The Ld. Income Tax Officer, Hyderabad, should have taken into consideration that the objections raised by the assessee before Hon’ble Directors Resolution Panel-1, BLR only for the reason that objections were not filed in time. 2 9. The Ld. Income Tax Officer

DY. COMMISSIONER OF INCOME TAX , CIRCLE-17(1), HYDERABAD vs. DRS LOGISTICS PRIVATE LIMITED , SECUNDERABAD

In the result, the appeal of the Revenue is dismissed

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

Capital Gains Rs.22,12,74,800/- This has resulted into short computation of total income of Rs.22,12,74,800/- with a tax effect of Rs.10,00,31,035/-. After verification of the facts from the assessment record this aspect needs thorough verification. B) Besides the above it is also observed that deficiencies in the interest calculation u/s 234A

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

271(1)(c) for furnishing inaccurate particulars of income. 5. In appeal, the learned CIT (A) upheld the action of the Assessing Officer by observing as under: Page 3 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar Gupta & Virender Kumar Gupta Page 4 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar Gupta & Virender Kumar