SSNC FINTECH SERVICES INDIA PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE 8(1), HYDERABAD

274 of the Act.\n3:2.\nThe Appellant craves leave to add, alter,\namend and/or substitute and/or modify in any manner\nwhatsoever modify all or any of the foregoing grounds of\nappeal at or before the hearing of the appeal.”\nBriefly stated facts of the case are that, the\nappellant-company viz., SSNC Fin Tech Services India Private\nLimited [Formerly

VITP PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE8(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri Ravish Sood (Judicial Member), Shri Madhusudan Sawdia (Accountant Member)

section 32 shall be deemed to be depreciation 'actually allowed'." 10. From the reading of Explanation 2A extracted above, it is patently clear that the written down value of the transferred capital asset to the amalgamated company would be the same as it would have been if the amalgamating company continue to hold the capital asset for the purpose

DCIT, CIRCLE-2(2), HYDERABAD, HYDERABAD vs. HINDUPUR BIO-ENERGY PVT. LTD., HYD, HYDERABAD

In the result, the appeal of the assessee is dismissed, and the appeal of Revenue is allowed

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12 Hindupur Bio-Energy Vs. The Deputy Commissioner Private Limited, Of Income Tax, Hyderabad. Circle 2(2), Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessment Year: 2011-12 The Deputy Commissioner Hindupur Bio-Energy Of Income Tax, Private Limited, Circle 2(2), Hyderabad. Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessee By: Shri M. Chandramouleswara Rao, C.A. Revenue By: Shri L.V. Bhaskara Reddy, Cit-Dr Date Of Hearing: 11.12.2023 Date Of Pronouncement: 21.12.2023

depreciation on non-existent assets, penalty under section 271(1)(c) was to be levied for filing inaccurate particulars of income. The fact that even voluntary disclosure does not release the assessee from mischief of penal proceedings u/s 271(1)(c) as held by the Hon'ble*Supreme Court in the case of Mak Data

HINDUPUR BIO-ENERGY PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee is dismissed, and the appeal of Revenue is allowed

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12 Hindupur Bio-Energy Vs. The Deputy Commissioner Private Limited, Of Income Tax, Hyderabad. Circle 2(2), Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessment Year: 2011-12 The Deputy Commissioner Hindupur Bio-Energy Of Income Tax, Private Limited, Circle 2(2), Hyderabad. Hyderabad. Pan : Aabch0124J. (Appellant) (Respondent / Cross-Appellant) Assessee By: Shri M. Chandramouleswara Rao, C.A. Revenue By: Shri L.V. Bhaskara Reddy, Cit-Dr Date Of Hearing: 11.12.2023 Date Of Pronouncement: 21.12.2023

depreciation on non-existent assets, penalty under section 271(1)(c) was to be levied for filing inaccurate particulars of income. The fact that even voluntary disclosure does not release the assessee from mischief of penal proceedings u/s 271(1)(c) as held by the Hon'ble*Supreme Court in the case of Mak Data

TEKSYSTEMS GLOBAL SERVICES PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD

In the result, appeal of the assessee is allowed as directed above

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

section 32(1) of the Act which says that in any assessment year, the aggregate deduction in respect of depreciation of assets allowable to the predecessor and successor in case of transfer shall not exceed the deduction calculated at the prescribed rates as if the succession had not taken place, and such deduction shall be apportioned between the predecessor

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

274 NSL Renewable Power Pvt. Ltd., Hyd. sources 5 Total income from (+) various heads other 28,24,69,118 than “Profits and gains of business or profession” 6. However, while computing the total income, the assessee claimed set off of the loss under the head business of (-) Rs.22,70,87,917/- against the income from other heads of (+) Rs.28

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

274 NSL Renewable Power Pvt. Ltd., Hyd. sources 5 Total income from (+) various heads other 28,24,69,118 than “Profits and gains of business or profession” 6. However, while computing the total income, the assessee claimed set off of the loss under the head business of (-) Rs.22,70,87,917/- against the income from other heads of (+) Rs.28

TEK SYSTEMS GLOBAL SERVICES PRIVATE LIMITED,HYDERBAD vs. DCIT, CIRCLE-2(1), HYDERBAD

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Manjunatha G.आ.अपी.सं /Ita No.487/Hyd/2022 (निर्धारण वर्ा/Assessment Year: 2018-19) Tek Systems Global Vs. Dy. C. I. T. Services (P) Ltd, Circle 2(1) Hyderabad Hyderabad Pan:Aabcf1518Q (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Ms. K. Amulya, Ca रधजस् व द्वधरध/Revenue By:: Shri Jeevan Lal Lavidiya, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 29/05/2024 घोर्णध की तधरीख/Pronouncement: 05/07/2024 आदेश/Order

section g2() of the Act, for the Impugned AY on the Opening WDV of the said block of assets, is consequential and mandatory under the provisions of the Act. 7. Reliance in this regard is placed on the following binding judicial precedents wherein it was held that, once an asset has entered into block of assets' and depreciation thereon

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD vs. COASTAL PROJECTS PRIVATE LIMITED , HYDERABAD

In the result, the C.O. filed by the assessee is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

274 ITR 122 (MP) I 7.2 It is stated in the reasons recorded that Trishul Vinimay (p) Ltd is into the business of share Trading :- 6 -: ITA No.. 497/Hyd/2019 and CO 16/H/2019 Coastal Projects Pvt. Ltd., Hyd. and on verification of the accounts of the said company, it is found that the appellant received a sum of Rs.7

AET LABORATORIES PRIVATE LIMITED, MEDAK,MEDAK vs. DCIT, CIRCLE-8(1), HYDERABAD, HYDERABAD

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

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No.963/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2010-11) Aet Laboratories (P) Ltd Vs. Dy. C. I. T. Medak Circle 8(1) Pan:Aadcm6591L Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri A Srinivas, Ca राज" व "ारा/Revenue By:: Shri Srinath Sadanala, Dr सुनवाई की तारीख/Date Of Hearing: 26/08/2024 घोषणा की तारीख/Pronouncement: 26/08/2024 आदेश/Order

274 held that while computing profit and gains of an entity, the stage at which the computation of income is under Chapter VI of the Act and thus, before allowing set off of forward business loss or unabsorbed depreciation, exemption should be allowed. Page 5 of 11 ITA No 963 of 2017 AET Laboratories P Ltd Medak 8. The learned

DIVJYOT CHEMICALS PRIVATE LIMITED,K.V. RANGAREDDY vs. ITO., WARD-17(1), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

section 271(1)(c) of the Act. The penalty proceedings are separate proceedings and even if in the ITA No.948/Hyd/2025 10 assessment proceedings any addition is made by the Assessing Officer, the assessee can explain the correct fact and justify the claim which was disallowed in the assessment proceedings. Therefore in the facts and circumstances of the case, when

NEERAJ KUMAR AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, HYDERABAD

In the result, the appeal of the assessee is allowed

section 154 of the Income Tax Act, 1961. (e) The Ld. CIT(A) ought to have followed the ratio laid down by the Apex Court in the case of ITO v. Volkart Brothers and Others, 82 ITR 50 (S.C.) with regard to mistake apparent from record that qualities for an action

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD vs. AMRUT PRASAD PATNAM , HYDERABAD

In the result, all the four appeals filed by the assessee as well as the only appeal filed by the Revenue are allowed for statistical purposes

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

274/- including Rs.2,92,22,712/- apportioned from M/s Amsri Spire Realty (p) Ltd receivable from Amsri Group has been written-off during the F.Y. 2009- 10 and taken to WIP. Thus, the total amount written-off and capitalized in WIP works out to Rs 28,46,80,511/- 6.12 It is also essential to understand the context in which

P AMRUTHA PRASAD ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the four appeals filed by the assessee as well as the only appeal filed by the Revenue are allowed for statistical purposes

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

274/- including Rs.2,92,22,712/- apportioned from M/s Amsri Spire Realty (p) Ltd receivable from Amsri Group has been written-off during the F.Y. 2009- 10 and taken to WIP. Thus, the total amount written-off and capitalized in WIP works out to Rs 28,46,80,511/- 6.12 It is also essential to understand the context in which

P AMRUTH PRASAD,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the four appeals filed by the assessee as well as the only appeal filed by the Revenue are allowed for statistical purposes

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

274/- including Rs.2,92,22,712/- apportioned from M/s Amsri Spire Realty (p) Ltd receivable from Amsri Group has been written-off during the F.Y. 2009- 10 and taken to WIP. Thus, the total amount written-off and capitalized in WIP works out to Rs 28,46,80,511/- 6.12 It is also essential to understand the context in which

SRINIVAS UPPU ,SECUNDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the four appeals filed by the assessee as well as the only appeal filed by the Revenue are allowed for statistical purposes

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

274/- including Rs.2,92,22,712/- apportioned from M/s Amsri Spire Realty (p) Ltd receivable from Amsri Group has been written-off during the F.Y. 2009- 10 and taken to WIP. Thus, the total amount written-off and capitalized in WIP works out to Rs 28,46,80,511/- 6.12 It is also essential to understand the context in which

SRINIVAS UPPU,SECUNDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the four appeals filed by the assessee as well as the only appeal filed by the Revenue are allowed for statistical purposes

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

274/- including Rs.2,92,22,712/- apportioned from M/s Amsri Spire Realty (p) Ltd receivable from Amsri Group has been written-off during the F.Y. 2009- 10 and taken to WIP. Thus, the total amount written-off and capitalized in WIP works out to Rs 28,46,80,511/- 6.12 It is also essential to understand the context in which

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

depreciation of Rs.72.11 Crores. Thus the Company had generated cash of Rs.372.73 Crores during the year. The above facts establish that we had sufficient own funds to make investment, in earlier years as well as during the year. Therefore, we submit that we have utilized our own surplus funds only for making investments and therefore no disallowance of interest