BA CONTINUUM INDIA PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

Bench: SHRI RAVISH SOOD, HON'BLE (Judicial Member), SHRI MADHUSUDAN SAWDIA HON'BLE (Accountant Member)

Depreciation adjustment 14. Without prejudice to argument in Ground 6, the expenses disallowed under 40(a) (i) of the Act should also be excluded from the cost base of the Appellant while computing the operating margin and transfer pricing adjustment.” 2. Also, the assessee company has raised the following additional ground of appeal, which reads as under: “Ground No.15

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

section 37(1) of the Act. However, given the lack of, directed to submit the same before the AO. In the Final Assessment Order dated 30.01.2014, the Assessing Officer on appreciation of the evidences filed allowed the claim. Copy of the Final Assessment Order for AY 2009-10 and a copy of the DRP order dated 25.11.2013 is appended along

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

section 37(1) of the Act. However, given the lack of, directed to submit the same before the AO. In the Final Assessment Order dated 30.01.2014, the Assessing Officer on appreciation of the evidences filed allowed the claim. Copy of the Final Assessment Order for AY 2009-10 and a copy of the DRP order dated 25.11.2013 is appended along

ZUARI CEMENT LIMITED ,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

section 37(1) of the Act. However, given the lack of, directed to submit the same before the AO. In the Final Assessment Order dated 30.01.2014, the Assessing Officer on appreciation of the evidences filed allowed the claim. Copy of the Final Assessment Order for AY 2009-10 and a copy of the DRP order dated 25.11.2013 is appended along

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

section 37(1) of the Act. However, given the lack of, directed to submit the same before the AO. In the Final Assessment Order dated 30.01.2014, the Assessing Officer on appreciation of the evidences filed allowed the claim. Copy of the Final Assessment Order for AY 2009-10 and a copy of the DRP order dated 25.11.2013 is appended along

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

section 37(1) of the Act. However, given the lack of, directed to submit the same before the AO. In the Final Assessment Order dated 30.01.2014, the Assessing Officer on appreciation of the evidences filed allowed the claim. Copy of the Final Assessment Order for AY 2009-10 and a copy of the DRP order dated 25.11.2013 is appended along

VIRCHOW PETROCHEMICAL PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-8(1), HYDERABAD

section\n143(3) of the Act, dated 11/12/2018, referred to the details available on\nrecord, and observed that though the assessee company had claimed\n100% depreciation of Rs.7.34 crores (approx.) on the solar power plant,\nbut had not received and incurred any income from sale of power from\nthe said power generation plant in its “Profit and Loss account

ANANTHA PVC PIPES PRIVATE LIMITED,ANANTAPUR vs. ACIT., CIRCLE-1, KURNOOL

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

Bench: Shri Ravish Sood & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.317/Hyd/2025 (निर्धारण वर्ा/Assessment Year:2017-18) M/S. Anantha Pvc Pipes Pvt. Ltd., Asst. Commissioner Of Income Tax, Vs. Circle-1, Kurnool. Anantapur. Pan:Aagca0936J (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri T. Rajendra Prasad, C.A. & Shri P. Rosi Reddy, Advocate. रधजस् व द्वधरध/Revenue By:: Dr. Sachin Kumar, Sr-Dr सुिवधई की तधरीख/Date Of Hearing: 31/07/2025 घोर्णध की तधरीख/Pronouncement: 06/08/2025 आदेश/Order Per Madhusudan Sawdia, A.M.: This Appeal Is Filed By M/S. Anantha Pvc Pipes Pvt. Ltd. (“The Assessee”), Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi (“Ld. Cit(A)”), Dated 25.07.2024 For The A.Y. 2017-18. 2. At The Outset, It Is Observed That There Is A Delay Of 147 Days In Filing The Present Appeal Before The Tribunal. In This Regard, The

depreciation was allowed, but the carry ITA No.317/Hyd/2025 6 forward of business loss was denied. Later on, the case was selected for scrutiny under section 143(3) of the Act for verification of cash deposits during demonetisation. The assessee submitted various records including audited balance sheet, cash book, sales invoices, excise documents, and bank statements. However, the Learned Assessing Officer

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. L & T METRO RAIL (HYDERABAD) LIMITED, HYDERABAD

In the result, appeal of the Revenue is allowed

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2016-17 Dcit, Vs. L & T Metro Rail Circle-16(1), (Hyderabad) Limited, Hyderabad. Hyderabad. Pan: Aabcl 8521 D (Appellant) (Respondent) Assessee By: Shri Ashik Shah Revenue By: Sri B. Sunil Kumar, Dr Date Of Hearing: 25/10/2021 Date Of Pronouncement: 21/01/2022 Order Per A. Mohan Alankamony, Am.:

195/-. 6. Drawing attention of the decision of the jurisdictional ITAT in the case of Thermal Power Tech Corporation India Ltd vs. DCIT, Central Circle 2(4), Hyderabad in ITA No. 1534/Hyd/2016 for the AY 2012-13 Dt: 26/04/2012, wherein it was held that the interest earned on fixed deposits made in the banks by parking the unutilized borrowed funds

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

depreciation from an eligible unit were set off against other income in previous years, they should not be reopened or notionally carried forward again to reduce the Section 801A deduction in the chosen initial assessment year. We find that the “SLP” filed by the revenue against the aforesaid order of the Hon'ble High Court had been dismissed

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

depreciation from an eligible unit were\nset off against other income in previous years, they should not be\nreopened or notionally carried forward again to reduce the Section 801A\ndeduction in the chosen initial assessment year. We find that the “SLP”\nfiled by the revenue against the aforesaid order of the Hon'ble High\nCourt had been dismissed

SANGHI INDUSTRIES LIMITED,HYDERABAD vs. DCIT, CIRCLE -3 (1), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

195 Taxman 35 (SC). d. This necessitated the introduction of Specified Domestic Transaction ("sun u/s 92BA in Finance Act 2012 by borrowing the transfer pricing regulations to establish arm's length nature of such inter-unit transactions with reference to provisions under Section 80IA(8) or 80IA(10)as applicable for 10AA exempted units or deductions under Chapter

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 :

195 (SC) 6. PCIT Vs. Delhi International Airport Pvt. Ltd (2022) 143 taxmann.com 209. 7. PCIT Vs. Bombay Stock Exchange Ltd (2021) 129 taxmann.com 87 (SC). 8. Per contra, the ld.AR had submitted that in the Profit and Loss account, the assessee had only debited a total sum of Rs.68,26,342/- as expenses and out of the said amount

HETERO LABS LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Section under which Sr. Amount of Name of the Unit Deduction/Exemptio No. Deduction/ n claimed 26,21,39,692 14.06% 12.33% 1 Unit V - (SEZ Sec. 10AA Jedcharla) 75,54,69,091 67.60% 40.33% Sec. 10AA 2 Unit VA - (SEZ Jedcharla) 3 Unit IX - Sec. 10AA 2,41,02,756 15.27% 13.25% (SEZ Nakkapally) 4 Unit IV - Baddi Sec 80IC

ACIT., CENTRAL CIRCLE 3(4), HYDERABAD, HYDERABAD vs. HETERO LABS LIMITED, HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Section under which Sr. Amount of Name of the Unit Deduction/Exemptio No. Deduction/ n claimed 26,21,39,692 14.06% 12.33% 1 Unit V - (SEZ Sec. 10AA Jedcharla) 75,54,69,091 67.60% 40.33% Sec. 10AA 2 Unit VA - (SEZ Jedcharla) 3 Unit IX - Sec. 10AA 2,41,02,756 15.27% 13.25% (SEZ Nakkapally) 4 Unit IV - Baddi Sec 80IC

HETERO LABS LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Section under which Sr. Amount of Name of the Unit Deduction/Exemptio No. Deduction/ n claimed 26,21,39,692 14.06% 12.33% 1 Unit V - (SEZ Sec. 10AA Jedcharla) 75,54,69,091 67.60% 40.33% Sec. 10AA 2 Unit VA - (SEZ Jedcharla) 3 Unit IX - Sec. 10AA 2,41,02,756 15.27% 13.25% (SEZ Nakkapally) 4 Unit IV - Baddi Sec 80IC

ACIT., CENTRAL CIRCLE 3(4), HYDERABAD vs. HETERO LABS LIMITED, HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri R.K. Panda & Shri Laliet Kumarआ.अपी.सं / Ita Nos.312 & 313/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2017-18 & 2018-19) Hetero Labs Limited, Vs. The Assistant Commissioner Of Hyderabad. Income Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent आ.अपी.सं / Ita Nos.348 & 349/Hyd/2023 (िनधा"रण वष" / Assessment Years: 2017-18 & 2-18-19) The Assistant Vs. Hetero Labs Limited, Commissioner Of Income Hyderabad. Tax, Central Circle – 3(4), Pan : Aaach5506R Hyderabad. अपीलाथ" / Appellant "" यथ" / Respondent

Section under which Sr. Amount of Name of the Unit Deduction/Exemptio No. Deduction/ n claimed 26,21,39,692 14.06% 12.33% 1 Unit V - (SEZ Sec. 10AA Jedcharla) 75,54,69,091 67.60% 40.33% Sec. 10AA 2 Unit VA - (SEZ Jedcharla) 3 Unit IX - Sec. 10AA 2,41,02,756 15.27% 13.25% (SEZ Nakkapally) 4 Unit IV - Baddi Sec 80IC

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

Sections 132(4A) and\n292C of the Income Tax Act create a rebuttable presumption that documents\nfound during a search belong to the assessee and are true. Courts have\nconsistently held that selective reliance on seized material is unjustified\nunless the contents are independently proved against the\n\nITA.Nos.514 to 539/Hyd./2025,\nAnd ITA.Nos.308 to 311/Hyd./2025

ITO., WARD-16(1), HYDERABAD vs. PHOENIX INFRAVENTURES AND PROJECTS PRIVATE LIMITED, HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Bleassessment Year: 2022-23 The Income Tax Officer, Vs. Phoenix Infraventures & Projects Private Limited, Ward – 16(1), Hyderabad. Hyderabad. Pan No.Aafcp5499L. (Assessee) (Respondent) Assessee By: Shri R. Mohan Kumar, Advocate Revenue By: Shri B. Bala Krishna, Cit-Dr Date Of Hearing: 24.12.2024 Date Of Pronouncement: 24.02.2025

depreciation. During the course of assessment proceedings, the Assessing Officer noticed that the current liability in terms of sundry creditors was increased to Rs.82,40,35,474/- when compared to previous year sundry creditors balance of Rs.37,646/-. Therefore, the Assessing Officer called upon the assessee to file relevant evidence and also to justify the increase in sundry creditors