DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

In the result, all the three appeals of the Assessee\nare partly allowed

section 56(2)(viib) is to prevent\ngeneration and circulation of unaccounted money and ought to\nhave held that the facts of the appellant case do not warrant\ninvoking of the said provisions.\n7) On the facts and circumstances of the case and in law, the Ld.\nCIT(Appeals) erred in sustaining the disallowance of depreciation

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

section 56(2)(viib) is to prevent\ngeneration and circulation of unaccounted money and ought to\nhave held that the facts of the appellant case do not warrant\ninvoking of the said provisions.\n7) On the facts and circumstances of the case and in law, the Ld.\nCIT(Appeals) erred in sustaining the disallowance of depreciation

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

section 56(2)(viib) is to prevent\ngeneration and circulation of unaccounted money and ought to\nhave held that the facts of the appellant case do not warrant\ninvoking of the said provisions.\n7) On the facts and circumstances of the case and in law, the Ld.\nCIT(Appeals) erred in sustaining the disallowance of depreciation

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

PATHFINDER PUBLISHING PRIVATE LIMITED,HYDERABAD vs. ACIT., CIRCLE -16(2), HYDERABAD

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

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2) of section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely. (a). the fair market value of unquoted equity shares shall be the value, on the valuation date, of such unquoted equity shares as determined

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

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

2 27. A perusal of the above shows that the shares are to be valued as per the provisions contained in Rule 11UA of the I.T. Rules, 1961 in accordance with the explanation which read as under: “Determination of fair market value. 11UA. [(1)] For the purposes of section 56 of the Act, the fair market value of a property

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

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

2 27. A perusal of the above shows that the shares are to be valued as per the provisions contained in Rule 11UA of the I.T. Rules, 1961 in accordance with the explanation which read as under: “Determination of fair market value. 11UA. [(1)] For the purposes of section 56 of the Act, the fair market value of a property

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

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

2 27. A perusal of the above shows that the shares are to be valued as per the provisions contained in Rule 11UA of the I.T. Rules, 1961 in accordance with the explanation which read as under: “Determination of fair market value. 11UA. [(1)] For the purposes of section 56 of the Act, the fair market value of a property

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

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

2 27. A perusal of the above shows that the shares are to be valued as per the provisions contained in Rule 11UA of the I.T. Rules, 1961 in accordance with the explanation which read as under: “Determination of fair market value. 11UA. [(1)] For the purposes of section 56 of the Act, the fair market value of a property

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

2, Hyderabad (\"PCIT\") under Section 263 of the Income-tax Act, 1961\n(\"the Act\"), (hereinafter referred to as \"Revision Order\") for Assessment Year (\"AY\") 2017-18.\n1.\nThe learned PCIT has erred in passing the revision order under Section 263 of the Act which is\nbad in law as well as on facts and hence liable to be quashed

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

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

section 56(2)(viib) a) The assessee was having no business for the last several years, and yet it was valued at Rs.400/- per share (Rs. 100/- face value + Rs.300/- premium). b) Generally shares issued on rights basis to the existing share holders are at a lower price than the prevailing market price. In the instant case there

ASCENTECH ENGINEERING SOLUTIONS PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE 1(1), HYDERABAD

In the result, appeal of the Assessee is allowed

section (2) of\nsection 56 shall be the value, on the valuation date, of such unquoted equity\nshares as determined in the following manner under clause (a) or clause (b), at\nthe option of the assessee, namely:-\n(a) the fair market value of unquoted equity shares=(A-L) x (PV),\n(PE)\nA = book value of the assets

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO

THE ANDHRA PRADESH STATE CO OPERATIVE BANK LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO

THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED,HYDERABAD vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2,18,60,60,000 1,95,10,20,704 23,84,75,500 Total 11,99,89,16,000 12,06,89,56,953 12,08,85,56,040 37,11,75,325 PROVISION REQUIRED FOR THE F.Y. 2008-09 (AS ON 31.03.2009) 37,11,75,325 PROVISION ALREADY AVAILABLE IN THE RESERVE UPTO