RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

In the result, appeal ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

Income Tax Act, 1961 which have been debited in the P & L A/c and added to the total income of the assessee vide order dated 22.03.2013 u/sec.143(3) r.w.s.147 of the Income Tax Act, 1961. 70. On being aggrieved by the assessment order, the assessee preferred appeal before the learned CIT(A) and the learned CIT(A) after considering

MADHUCON PROJECTS LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3, HYDERABAD, HYDERABAD

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

depreciation. The Assessing Officer also made separate addition on account of gratuitous payment as per seized material for various years amounting to Rs.5.33 crores and has given telescoping effect to the remaining additional income

MADHUCON PROJECTS LTD, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-3, HYD, HYDERABAD

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

depreciation. The Assessing Officer also made separate addition on account of gratuitous payment as per seized material for various years amounting to Rs.5.33 crores and has given telescoping effect to the remaining additional income

MADHUCON PROJECTS LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3, HYDERABAD, HYDERABAD

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

depreciation. The Assessing Officer also made separate addition on account of gratuitous payment as per seized material for various years amounting to Rs.5.33 crores and has given telescoping effect to the remaining additional income

SKANDA BUILDERS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

additional income. Considering the\noverall fact of large-scale cash transactions, being outside the regular books of\naccounts, the books of accounts maintained and audited on a regular basis are no\nlonger reliable.\"\n\nITA.Nos.514 to 539/Hyd./2025,\nAnd ITA.Nos.308 to 311/Hyd./2025.\n\n46\n\nITA.Nos.514 to 539/Hyd./2025,\nAnd ITA.Nos.308 to 311/Hyd./2025

PRATHIMA EDUCATIONAL SOCIETY,HYDERABAD vs. ACIT (EXEMPTIONS) CIRCLE-1(1), HYDERABAD

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

income with the depreciation written back by the assessee to be carried forward for subsequent years for application for charitable purposes." 13.2 That is, the assessee is entitled to depreciation on cost of acquisition and also as application of cost of acquisition. In addition

ACIT., CIRCLE-1(1), TIRUPATI vs. SOUTHERN POWER DISTRIBUTION COMPANY OF ANDHRA PRADESH LIMITED, TIRUPATI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.244/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2018-19 ) Acit Vs. Southern Power Circle 1(1) Distribution Company Of Tirupati Andhra Pradesh, Tirupati Pan:Aahcs4056Q (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: C.A Mohan Acharya राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 10/07/2024 घोषणा की तारीख/Pronouncement: 16/07/2024 आदेश/Order

depreciation @ 15% has made addition of Rs.793.45 crores as income of the assessee. 5. Being aggrieved by the assessment order

RAJENDER REDDY GUNNA ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-6, HYDERABAD

income in the status of HUF and Sri G.\nRajendra Reddy being has Karta of the HUF. The income\nreturned in the earlier assessment year is very meagre going\nby the return of income filed for the assessment years 2003-\n2004 to 2005-2006. From the above, it is seen that, the\nargument of the assessee that, HUF was having

NCC LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

NCC LIMITED, ,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1),, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

NCC LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

depreciation on goodwill has not attained finality. Unless there is a stay, order/decision of the jurisdictional Income Tax Appellate Tribunal is binding on all income tax authorities within its jurisdiction. Page 45 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd 35. In Union of India v. Kamlakshi Finance Corporation Ltd. 1992 taxmann.com

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

Income Tax Act,\n1961.\n70.\nOn being aggrieved by the assessment order, the\nassessee preferred appeal before the learned CIT(A) and the\nlearned CIT(A) after considering the relevant submissions of\nthe assessee, partly allowed the appeal of the assessee by\ndirecting the Assessing Officer to allow depreciation at the\nrates allowable to a computer on mobile phone

KUPPAM EDUCATIONAL SOCIETY,KUPPAM vs. INCOME TAX OFFICER (EXEMPTIONS), TIRUPATI

In the result, the appeal of the assessee is partly allowed

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

income and the jurisdictional ITAT, HYD has very recently upheld the claim of depreciation. The assessing authority is bound by the ITAT, HYD and the claim depreciation is ought to be allowed by the appellate authority 2. All the bank transactions and the banking transactions have been duly disclosed and accounted for in the books of accounts of the appellants

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD vs. MAGNA HOMES, HYDERABAD

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdiaassessment Year: 2018-19 The Deputy Commissioner Of Vs. M/S. Magna Homes, Hyderabad. Income Tax, Central Circle 3(1), Pan : Aapfg5917K Hyderabad. (Appellant) (Respondent) Assessee By: Shri Ravi Bharadwaj Revenue By: Dr. Sachin Kumar, Sr.D.R. Date Of Hearing: 08.01.2025 11.02.2025 Date Of Pronouncement:

income on account of lower rate in certain villas but it is necessary to note that they have not stated anywhere that the additional consideration was received. Therefore, there is no primary evidence of receipt of unaccounted consideration by the appellant found during the Survey nor it was stated by partners of the appellant firm. Further, with regard to these

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

In the result, appeal ITA

addition made by the Assessing Officer\ntowards undisclosed income from commission because, the\nassessee could not explain the said transaction with\nrelevant details to prove his claim that, said income has\nbeen already offered to tax. The learned CIT(A) after\nconsidering relevant facts, has rightly sustained the\naddition made by the Assessing Officer. Thus, we are\ninclined to uphold