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9 results for “depreciation”+ Section 50C(2)clear

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Key Topics

Section 26318Section 143(3)13Section 50C11Section 153A8Section 1486Section 56(2)(vii)4Section 56(2)4Section 2244Depreciation4Short Term Capital Gains

YERRAM VENKATA SUBBA REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-14(1), HYDERABAD

In the result assessee’s appeal is partly allowed

ITA 1119/HYD/2018[2013-14]Status: DisposedITAT Hyderabad04 Nov 2020AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

For Appellant: Sri S. Rama Rao, AdvFor Respondent: Sh. Rajendra Kumar, D.R
Section 143(1)Section 143(3)Section 263Section 32(1)Section 43(6)Section 50C

Section 32(2) of the Act, the unabsorbed depreciation becomes the depreciation of the current year of the business and the same is eligible for set off against the individual income of the assessee u/s 170 of the Act as he is the successor to the business. ITA No.1119/Hyd./2018 A.Y.: 2013-14 Sh. Yerram Venkata Subba Reddy Therefore, ground

2
Set Off of Losses2
Addition to Income2

K LAXMA REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), HYDERABAD

In the result, the appeal filed by the assessee is allowed

ITA 621/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Aug 2022AY 2015-16

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

For Appellant: Shri K.C. DevdasFor Respondent: Dr. M. Narmada, CIT (DR)
Section 143(3)Section 153ASection 224Section 263Section 56(2)Section 56(2)(vii)

50C; (b) "fair market value of a property, other than an immovable property, means the value determine in accordance with the method as may be prescribed; (Rule 11U and 11UA) (c) “jewellery” shall have the meaning assigned to it in the Explanation to sub-clause (1) of clause (14) of section 2 27. A perusal of the above shows that

K VIJAYA BHASKAR REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), HYDERABAD

In the result, the appeal filed by the assessee is allowed

ITA 619/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Aug 2022AY 2015-16

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

For Appellant: Shri K.C. DevdasFor Respondent: Dr. M. Narmada, CIT (DR)
Section 143(3)Section 153ASection 224Section 263Section 56(2)Section 56(2)(vii)

50C; (b) "fair market value of a property, other than an immovable property, means the value determine in accordance with the method as may be prescribed; (Rule 11U and 11UA) (c) “jewellery” shall have the meaning assigned to it in the Explanation to sub-clause (1) of clause (14) of section 2 27. A perusal of the above shows that

N JAIDEEP REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), HYDERABAD

In the result, the appeal filed by the assessee is allowed

ITA 623/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Aug 2022AY 2015-16

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

For Appellant: Shri K.C. DevdasFor Respondent: Dr. M. Narmada, CIT (DR)
Section 143(3)Section 153ASection 224Section 263Section 56(2)Section 56(2)(vii)

50C; (b) "fair market value of a property, other than an immovable property, means the value determine in accordance with the method as may be prescribed; (Rule 11U and 11UA) (c) “jewellery” shall have the meaning assigned to it in the Explanation to sub-clause (1) of clause (14) of section 2 27. A perusal of the above shows that

N JAIVEER REDDY ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), HYDERABAD

In the result, the appeal filed by the assessee is allowed

ITA 622/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Aug 2022AY 2015-16

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

For Appellant: Shri K.C. DevdasFor Respondent: Dr. M. Narmada, CIT (DR)
Section 143(3)Section 153ASection 224Section 263Section 56(2)Section 56(2)(vii)

50C; (b) "fair market value of a property, other than an immovable property, means the value determine in accordance with the method as may be prescribed; (Rule 11U and 11UA) (c) “jewellery” shall have the meaning assigned to it in the Explanation to sub-clause (1) of clause (14) of section 2 27. A perusal of the above shows that

ITO, WARD-16(2), HYDERABAD, HYDERABAD vs. PADMA VAMSI TEXTILE MARKET PVT. LTD., HYDERABAD, HYDERABAD

In the result, appeal of the revenue is allowed for statistical purposes

ITA 1456/HYD/2016[2007-08]Status: DisposedITAT Hyderabad03 May 2019AY 2007-08

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2007-08 Income-Tax Officer, Vs. Padma Vamsi Textile Market Ward – 16(2), Hyderabad. Pvt. Ltd., Hyderabad. Pan – Aadcp 3957F (Appellant) (Respondent) Revenue By : Smt. Komali Krishna Assessee By : Shri B. Satyanarayana Murthy Date Of Hearing : 23-04-2019 Date Of Pronouncement : 03-05-2019

For Appellant: Shri B. Satyanarayana MurthyFor Respondent: Smt. Komali Krishna
Section 147Section 148Section 50Section 50ASection 50C

2 of his order. After considering the same, the AO observed that the assessee did not show the properties under stock-in-trade and the same was shown in the fixed assets schedule and regularly claiming depreciation on the same. The AO, therefore, opined that the income on sale of such assets attract the provisions of section 50C

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NCL GREEN HABITATS PRIVATE LIMITED, HYDERABAD

In the result, the appeal of the Revenue is allowed for statistical purposes

ITA 1790/HYD/2019[2016-17]Status: DisposedITAT Hyderabad15 May 2023AY 2016-17

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

For Appellant: Sri S. Rama RaoFor Respondent: Sri M. Naveen Kumar
Section 143(2)Section 56(2)(viib)

50C and sub-section (15) of section 155 shall, as far as may be, apply in relation to the stamp duty value of such property for the purpose of sub-clause (b) as they apply for valuation of capital asset under those sections : Provided further that this clause shall not apply to any sum of money or any property received

AJANTHA FARMS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. ITO, WARD-1(1), HYDERABAD, HYDERABAD

Accordingly, the same are dismissed as not pressed

ITA 298/HYD/2017[2008-09]Status: DisposedITAT Hyderabad09 Aug 2019AY 2008-09

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri Md. Afzal, ARFor Respondent: Shri Satya Prashant Pinisetty, DR
Section 142(1)Section 143(1)Section 148Section 50C

section 50C of the IT Act, in respect of reference to Departmental valuer with regard to value of poultry shed. 6. Without prejudice to the ground no. 2, 3 & 4, the learned Commissioner ought to have appreciated that the value of the shed, as per the depreciation

CHANDANA CONSTRUCTIONS PRIVATE LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD-1(4), HYDERABAD

In the result, assessee’s appeal is dismissed

ITA 377/HYD/2018[2009-10]Status: DisposedITAT Hyderabad30 Aug 2021AY 2009-10

Bench: Smt. P. Madhavi Deviassessment Year: 2009-10

For Appellant: N o n eFor Respondent: Sri Waseem-ur-Rehman,DR
Section 147Section 154Section 50Section 50CSection 72

2. This appeal has been coming up for hearing from 18.5.2018 onwards and the assessee is represented by his Counsel Mr.P.S.S. Kailash Nath, who appeared on some occasions. The last appearance was on 2.12.2020. Thereafter, the Bench did not function and on 8.3.2021, since none appeared for the assessee, a notice was sent to the assessee through RPAD. Further, notices