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

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

section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

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

section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains

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, then, disallowance of expenses relatable to said investments under section 14A read with Rule 8D does not arise

ACIT, CIRCLE-5(1), HYDERABAD vs. USHODAYA ENTERPRISES PRIVATE LIMITED, HYDERABAD

capital gains), and that no direct expenditure was incurred for earning the exempt dividends. The appellant also highlighted its proactive self-disallowance of Rs.12,17,882/-.\nThe legal analysis, particularly in light of numerous High Court decisions and the Supreme Court's dismissal of SLPs for AY 2017-18, strongly supports the principle that Section 14A disallowance is not attracted

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

In the result, appeals filed by the assessee for\nboth the

capital gains were taxable, making Section 14A inapplicable. The PCIT failed to satisfy the twin conditions of Section 263.", "result": "Allowed", "sections": [ "263", "143(3)", "144B", "14A", "8D

ACIT, CIRCLE-5(1), HYDERABAD vs. USHODAYA ENTERPRISES PRIVATE LIMITED, HYDERABAD

capital gains), and that no direct\nexpenditure was incurred for earning the exempt dividends. The appellant also\nhighlighted its proactive self-disallowance of Rs.12,17,882/-.\nThe legal analysis, particularly in light of numerous High Court decisions and\nthe Supreme Court's dismissal of SLPs for AY 2017-18, strongly supports the\nprinciple that Section 14A disallowance is not attracted

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 :

gain will arise nor any deeming charge u/s. 56 of the receipt of property / assets / shares etc., can be attributed for improper consideration. The appellant presents a scheme to the High Court along with the valuation and the method in which the same is done and once the same is approved, the amalgamation order is passed accordingly, the same

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

gains of business or profession in sections 28 to 44DB of the Act. By this, the assessee seeks compliance with Explanation-2 of section 37 of the Act and, therefore, the Revenue shall not have any grievance. Whether or not the assessee suo moto disallowed the spend towards the CSR while computing the business income is a verifiable fact

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

gains of business or profession in\nsections 28 to 44DB of the Act. By this, the assessee seeks\ncompliance with Explanation-2 of section 37 of the Act and, therefore,\nthe Revenue shall not have any grievance. Whether or not the\nassessee suo moto disallowed the spend towards the CSR while\ncomputing the business income is a verifiable fact

OCEAN SPARKLE LIMITED,HYDERABAD vs. DCIT., CIRCLE-5(1), HYDERABAD

Capital gains\"\nfor a number of years from 1999-2000, particularly for the asst. yrs.\n2005-06 and 2007-08 i.e. before and after the asst. yr. 2006-07 which is\nthe subject-matter of these proceedings. In view of the above, the CIT\ncannot under s. 263 interfere on an issue which has been accepted by\nthe Revenue

MYLAN LABORATORIES LIMITED,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result. appeal of the Assessee is partly\nallowed for statistical purposes and appeal of Revenue is\npartly allowed for statistical purposes

gain is operating in nature only on the\nground that it linked to export sales because, the same\nexpenditure/income may not be there in case of all\ncomparables. Further, Safe Harbour Rules excludes foreign\ncurrency losses from the definition of ‘operating cost'. Once\nloss on foreign exchange is excluded, then, revenue also\nneeds to be excluded. Since the cash flow

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

ACIT., CIRCLE-5(1), HYDERABAD vs. MYLAN LABORATORIES LIMITED, HYDERABAD

In the result. appeal of the Assessee is partly allowed for statistical purposes and appeal of Revenue is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

gain is operating in nature only on the ground that it linked to export sales because, the same expenditure/income may not be there in case of all comparables. Further, Safe Harbour Rules excludes foreign currency losses from the definition of ‘operating cost’. Once loss on foreign exchange is excluded, then, revenue also needs to be excluded. Since the cash flow

INVESCO(INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT, 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

capital adjustments is already taken into account and that there is no requirement to impute interest on outstanding receivables separately and the Hon'ble DRP has further erred in upholding the action of Ld. TPO/AO. 2.2 Without prejudice to Ground No 2 and 2.1 above, that on the facts and in the circumstances of the case and in law, while

ALLCARGO GATI LIMITED(FORMALLY KNOWN AS GATI LIMITED),HYDERABAD vs. ITO, WARD-2(2), HYD, HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

8D is uncalled for. 17. The Appellant craves leave to add, amend or alter any of the above grounds as the occasion may require. 18. For these and other reasons that will be submitted at the time of hearing of appeal, the appellant prays that the disallowances made may be deleted and the appeal be allowed.” 3. The brief facts

ALLCARGO GATI LIMITED(FORMALLY KNOWN AS GATI LIMITED),HYDERABAD vs. ACIT,CIRCLE-2(2) HYDERABAD, HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

8D is uncalled for. 17. The Appellant craves leave to add, amend or alter any of the above grounds as the occasion may require. 18. For these and other reasons that will be submitted at the time of hearing of appeal, the appellant prays that the disallowances made may be deleted and the appeal be allowed.” 3. The brief facts

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

In the result, appeal filed by the assessee is allowed

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