DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD vs. ALPHA AVENUES PRIVATE LIMITED, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

55(2)(aa)(i) of the Act. The learned Assessing Officer has not questioned the fact that the Appellant has not actually paid for acquiring the shares. The appellant was allotted 5,06,892 shares and was issued share certificates. There are no provisions under the Income Tax Act where the learned Assessing Officer could disallow or reduce the cost

DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD vs. ALPHA VILLAS PRIVATE LIMITED, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

55(2)(aa)(i) of the Act. The learned Assessing Officer has not questioned the fact that the Appellant has not actually paid for acquiring the shares. The appellant was allotted 5,06,892 shares and was issued share certificates. There are no provisions under the Income Tax Act where the learned Assessing Officer could disallow or reduce the cost

GOLDGREEN LAND HOLDINGS LLP( FORMERLY GOLD GREEN HOLDINGS PRIVATE LIMITED),SHANKARPALLY MANDAL, MIRZAGUDA vs. INCOME TAX OFFICER - WARD 2(1), HYDERABAD

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

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं / Ita No. 473/Hyd/2023 (धििाारण वर्ा / Assessment Year: 2017-18) Goldgreen Land Holdings Llp Vs. Income Tax Officer, (Formerly Gold Green Holdings Ward-2(1), Private Limited), Hyderabad Shankarpally Mandal, Mirzaguda [Pan No. Aadcg2864N] अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent धििााररती द्वारा / Assessee By: Shri Kumar Pal Tated, Ar राजस्‍व द्वारा / Revenue By: Shri Shakeer Ahamed, Dr सुिवाई की तारीख/Date Of Hearing: 06/03/2024 घोर्णा की तारीख/Pronouncement On: 22/03/2024 आदेश / Order Per K. Narasimha Chary, J.M: Aggrieved By The Order Dated 07/08/2023 Passed By The Learned Commissioner Of Income Tax (Appeals)- National Faceless Appeal Centre (Nfac), Delhi (“Ld. Cit(A)”), In The Case Of Goldgreen Land Holdings Private Limited (“The Assessee”) For The Assessment Year 2017-18, Assessee Preferred This Appeal.

Ac 6.00 during the year 2016-17 for a total sale consideration of Rs.6,00,00,000/-. As explained above, the gain on sale of agriculture land should not be considered as short term capital gain. Additional Submissions: 1. The Ld.A.O., identified the capital gain as STCG with reference to the regular conveyance deed (viz.,Purchase deeds executed

ASHOK KUMAR KOLLA,HYDERABAD vs. DCIT., CIRCLE-6(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G. & आ.अपी.सं /Ita No.876/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2014-15) Shri Ashok Kumar Kolla Vs. Dy. Commissioner Of Hyderabad Income Tax, Circle 6(1) Pan:Afwpk8481L Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri A.V.Raghuram, Advocate राज" व "ारा/Revenue By:: Shri K.N. Suresh Babu, Dr सुनवाई की तारीख/Date Of Hearing: 07/11/2024 घोषणा की तारीख/Pronouncement: 14/11/2024 आदेश/Order

55,40,947/- to allege that, while completing the original assessment u/s 143(3) of the Act, the Assessing Officer has considered amount of Rs.1.52 crores, whereas actually the amount incurred towards improvement to asset was only at Rs.96,18,402/-. In our considered view, going by the reasons recorded by the Assessing Officer, and the basis for such reasons

DEMI REALTORS,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD

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

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

AC: The instant revision petition filed before the Addl Sessions judge against the order passed by the CJM/Trial court against the revisionist issuing charge sheet under sec 276C of the Income Tax Act, 1961. Prosecution u/s 276C for late deposit of self assessment tax. Late deposit of tax after the expiry of the stipulated period would not wipe

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

capital adjustment itself takes the impact of outstanding receivable on profitability. Accordingly no separate adjustment is warranted on outstanding receivables. 7. The Ld. AO/DRP ought to have appreciated the fact that no separate adjustment on receivables is to be made, when the principle transaction is considered to be at arm's length. 8. Without prejudice, the TPO/DRP ought to have

SUMITRA BAI GUNDAVARAPU,HYDERABAD vs. INCOME TAX OFFICER, WARD-9(2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Appeal In Ita Assessee Revenue A.Y No 1 538/Hyd/2018 Smt. Cheruvu Madhavi, Income Tax 2009-10 L/R Of Smt.Sumitrabai Officer Gundavarapu, Ward 9(2) Hyderabad Hyderabad Pan:Athpg1018L 2 8/Hyd/2021 Smt, Yashoda Income Tax 2009-10 Gundavarapu, Officer Ward-1 R.R Distt Vikarabad Pan:Apkpg0183M 3 14/Hyd/2019 Shri M Hanmanth Acit, Circle 2009-10 Reddy, Hyderabad 4(1) Pan:Achph0874L Hyderabad

section 2(47) as on 4.2.2008 has not crystalised either by way of transfer of property or possession or receipt of consideration have arisen on 4.2.2008. To buttress his argument, he drew the attention to page 5, 6, 10, 12, 13, 17, 21, 22, 23, 26 and 64 of the Paper Book. It was the contention of the learned

M.HANMANTH REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Appeal In Ita Assessee Revenue A.Y No 1 538/Hyd/2018 Smt. Cheruvu Madhavi, Income Tax 2009-10 L/R Of Smt.Sumitrabai Officer Gundavarapu, Ward 9(2) Hyderabad Hyderabad Pan:Athpg1018L 2 8/Hyd/2021 Smt, Yashoda Income Tax 2009-10 Gundavarapu, Officer Ward-1 R.R Distt Vikarabad Pan:Apkpg0183M 3 14/Hyd/2019 Shri M Hanmanth Acit, Circle 2009-10 Reddy, Hyderabad 4(1) Pan:Achph0874L Hyderabad

section 2(47) as on 4.2.2008 has not crystalised either by way of transfer of property or possession or receipt of consideration have arisen on 4.2.2008. To buttress his argument, he drew the attention to page 5, 6, 10, 12, 13, 17, 21, 22, 23, 26 and 64 of the Paper Book. It was the contention of the learned

YASHODA GUNDAVARAPU,RR DISTRICT vs. INCOME TAX OFFICER , VIKARABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Appeal In Ita Assessee Revenue A.Y No 1 538/Hyd/2018 Smt. Cheruvu Madhavi, Income Tax 2009-10 L/R Of Smt.Sumitrabai Officer Gundavarapu, Ward 9(2) Hyderabad Hyderabad Pan:Athpg1018L 2 8/Hyd/2021 Smt, Yashoda Income Tax 2009-10 Gundavarapu, Officer Ward-1 R.R Distt Vikarabad Pan:Apkpg0183M 3 14/Hyd/2019 Shri M Hanmanth Acit, Circle 2009-10 Reddy, Hyderabad 4(1) Pan:Achph0874L Hyderabad

section 2(47) as on 4.2.2008 has not crystalised either by way of transfer of property or possession or receipt of consideration have arisen on 4.2.2008. To buttress his argument, he drew the attention to page 5, 6, 10, 12, 13, 17, 21, 22, 23, 26 and 64 of the Paper Book. It was the contention of the learned

ANDHRA PRADESH ADVOCATES WELFARE FUND,HYDERABAD vs. INCOME TAX OFFICER, WARD-8(2), HYDERABAD,

In the result, all the three appeals of the assessee are dismissed

Bench: SHRI K.NARASIMHA CHARY (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)

capital in nature and not taxable may be dismissed. Learned DR also argued that expenses such as death benefits, financial assistance, funeral expenses, suspension of practice, and retirement benefits are applications of income, not incurred exclusively for earning income, and thus not allowable under section 37 of the IT Act. Contending so, he prayed for the dismissal of the Assessee

ANDHRA PRADESH ADVOCATES WELFARE FUND,HYDERABAD vs. INCOME TAX OFFICER, WARD 8(2), HYDERABAD, HYDERABAD

In the result, all the three appeals of the assessee are dismissed

Bench: SHRI K.NARASIMHA CHARY (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)

capital in nature and not taxable may be dismissed. Learned DR also argued that expenses such as death benefits, financial assistance, funeral expenses, suspension of practice, and retirement benefits are applications of income, not incurred exclusively for earning income, and thus not allowable under section 37 of the IT Act. Contending so, he prayed for the dismissal of the Assessee

ANDHRA PRADESH ADVOCATES WELFARE FUND,HYDERABAD vs. INCOME TAX OFFICER, WARD 8(2), HYDERABAD

In the result, all the three appeals of the assessee are dismissed

Bench: SHRI K.NARASIMHA CHARY (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)

capital in nature and not taxable may be dismissed. Learned DR also argued that expenses such as death benefits, financial assistance, funeral expenses, suspension of practice, and retirement benefits are applications of income, not incurred exclusively for earning income, and thus not allowable under section 37 of the IT Act. Contending so, he prayed for the dismissal of the Assessee

BRIJESH CHANDWANI,HYDERABAD vs. DCIT., CIRCLE -6(1), HYDERABAD

In the result, appeal of the assessee for the assessment year 2020-2021 is allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita Nos.1527 & 1528/Hyd/2025 Assessment Years – 2016-2017 & 2020-2021 Brijesh Chandwani The Dcit, Circle-6(1), Vs. Hyderabad – 500 034 Hyderabad. Pan Adkpc1537H (Appellant) (Respondent) िनधा"रती "ारा /Assessee By: Ca Pawan Kumar Chakrapani राज" व "ारा /Revenue By: Sri Ranjan Agrawala, Sr. Ar

capital gain, under the facts and circumstances of the case. 10. The Appellant denies himself liable to interest under section 234A, 2348 and 234C of the Act, under the facts and circumstances of the case. 11. The Appellant craves leave to add, alter, delete or substitute any of the grounds urged above. 4 ITA.No.1527 & 1528/Hyd./2025

ACIT., CIRCLE-8(1), HYDERABAD vs. NCC HES JV, HYDERABAD

In the result, all the appeals of the Revenue are dismissed

AC, flight information display system, full\nelectrification etc. Therefore, evidently the contract has not been awarded\nto the assessee for carrying out any repairs, maintenance or upkeep etc.\nof existing airport facility, but the assessee has been awarded contract\nfor bringing into existence a new infrastructural facility in place being new\ndomestic arrival block at Sardar Vallabhbhai Patel International Airport

MARRI EDUCATIONAL SOCIETY,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

gains of business which is not incidental to the attainment of its objectives or separate books of account are not maintained by such trust or institution in respect of the business which is incidental to the attainment of its objectives; or (c) the trust or institution has applied any part of its income from the property held under a trust

CMR TECHNICAL EDUCATION SOCIETY,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

gains of business which is not incidental to the attainment of its objectives or separate books of account are not maintained by such trust or institution in respect of the business which is incidental to the attainment of its objectives; or (c) the trust or institution has applied any part of its income from the ensure for the benefit

CMR TECHNICAL EDUCATION SOCIETY,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

gains of business which is not incidental to the attainment of its objectives or separate books of account are not maintained by such trust or institution in respect of the business which is incidental to the attainment of its objectives; or (c) the trust or institution has applied any part of its income from the ensure for the benefit

ACIT., CIRCLE-8(1), HYDERABAD vs. NCC HES JV, MADHAPUR

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

AC, flight information display system, full electrification etc. Therefore, evidently the contract has not been awarded to the assessee for carrying out any repairs, maintenance or upkeep etc. of existing airport facility, but the assessee has been awarded contract for bringing into existence a new infrastructural facility in place being new domestic arrival block at Sardar Vallabhbhai Patel International Airport