THULASI CHAMARTHY,CHITTOOR vs. INCOME TAX OFFICER, WARD - 1, CHITTOOR

In the result, the appeal filed by the assessee is allowed in terms of our aforesaid observations

54F: Rs.61,03,380/-, vide his order passed under section 147 5 Tulasi Chamarthy vs. ITO r.w.s 144 r.w.s 144B of the Act, dated 29/02/2024 and determined the short term capital gain on the sale of the subject property of Rs.81,62,440/-. 8. Aggrieved, the assessee carried the matter in appeal before the CIT(A) but without success

MAHESWARI MINING & ENERGY PRIVATE LIMITED ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Laxmi Prasad Sahu & Shri K. Narasimha Charyassessment Years: 2016-17 Maheswari Mining & Vs. Asst. Commissioner Of Energy Pvt. Ltd., Income-Tax, Hyderabad. Circle – 16(2), Hyderabad. Pan – Aagcm0805N (Appellant) (Respondent) Assessee By: S/Shri Y. Ratnamkar& B. Satyanarayana Murthy Revenue By: Shri Y.V.S.T. Sai Date Of Hearing: 21/04/2022 Date Of Pronouncement: /04/2022

depreciation or otherwise) in computing the income chargeable under the head profits and gains of business or profession" of any previous year. With a view to ensure that the manufacturing units which are set up by availing this proposed incentive actually contribute to economic growth of these :- 10 -: M/s Maheswari Mining & Energy Pvt. Ltd., Hyderabad. backward areas by carrying