DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD vs. ALPHA AVENUES PRIVATE LIMITED, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

short-term capital loss of Rs.99,99,91,050/- based on the order passed u/s 143(3) of the Act in the case of M/s. Bharati Cements for A.Y 2010-11. 7. The respondent submits that, for the year under consideration, there is no provision in the Act to disregard or disallow such part of premium as cost of acquisition

DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD vs. ALPHA VILLAS PRIVATE LIMITED, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

short-term capital loss of Rs.99,99,91,050/- based on the order passed u/s 143(3) of the Act in the case of M/s. Bharati Cements for A.Y 2010-11. 7. The respondent submits that, for the year under consideration, there is no provision in the Act to disregard or disallow such part of premium as cost of acquisition

DCIT, CIRCLE-3(1), HYD, HYDERABAD vs. RASA AGROTECH PVT.LTD., SEC'BAD, SECUNDERABAD

In the result, both the Revenue’s appeal as well as

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2008-09 The Dy. Cit, Circle-3(1), Vs. M/S. Rasa Agrotech Pvt Hyderabad. Ltd, Secunderabad.

capital gain on transfer of depreciable assets shall be treated as short term capital gains. During the reassessment proceedings, the assessee

AMARA RAJA ENERGY AND MOBILITY LIMITED,TIRUPATI vs. DCIT., CIRCLE-1(1), TIRUPATI

In the result, appeal of the Assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.791/Hyd/2025 Assessment Year 2021-2022 Amara Raja Energy & Mobility Limited, The Dcit, Circle-1(1), Vs. Tirupati – 517 520. Tirupati Pan Aabca9264E (Appellant) (Respondent) िनधा"रती "ारा /Assessee By: Ca E Phalguna Kumar राज" व "ारा /Revenue By: Sri Pavan Kumar Beerla, Cit-Dr

short-term capital gains on sale of Mutual Funds form part of total income of the assessee- company. It is presently offered under the head "Income from Capital Gains". So even capital gains is resulting in taxable income. 8. Therefore, there is no exempt income arising from current investments. Hence there is no applicability of See 14A disallowance in respect

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

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. 9. The assessee being aggrieved with the order of the CIT(A) has carried the matter in appeal before us. 10. We have heard the Learned Authorized Representatives of both

CANARA SECURITIES LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(1), HYDERABAD

In the result, appeal of the assessee is partly allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2010-11 Canara Securities Ltd., Vs. Dy. Commissioner Of Hydereabad. Income-Tax, Central Circle – 2(1), Pan – Aaacc8283G Hyderabad. Appellant Respondent Assessee By: Shri Ramkishore Jhawar Revenue By: Shri Nilanjan Dey Date Of Hearing: 08/05/2019 Date Of Pronouncement: 03/07/2019 O R D E R

depreciation allowance of Rs. 6,660/-. The return of income was processed u/s 143(1) of the Income-tax Act, 1961 (in short ‘the Act’) and there is no 143(3) assessment in this case. 2.1 Subsequently, the AO received specific information that the assessee had contrived losses by using Client Code 2 I.T.A. No. 2321Hyd/18 Canara Securities

INCOME TAX OFFICER, WARD-17(2), HYDERABAD vs. ELGEN (INDIA) PRIVATE LIMITED , HYDERABAD

In the result, appeal of the revenue is allowed

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2015-16 Income-Tax Officer, Vs. Elgen (India) Pvt Ltd., Ward - 17(2), Hyderabad. Hyderabad. Pan – Aaace 8520C (Appellant) (Respondent) Revenue By: Shri Rohit Mujumdar Assessee By: Shri M. Poorna Chander Rao Date Of Hearing: 15/03/2021 Date Of Pronouncement: 30/04/2021

depreciation on assets during the construction period but we are not concerned with them. :- 30 -: Elgen (India) Pv. Ltd., Hyd. 37. From the above discussion it appears that there is an established accountancy practice about the capitalisation of expenditure like payment of interest towards the cost of assets and there is also a guideline for showing the income earned during

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

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

short term capital gain. Section 50 is thus a deeming provision and it applied to the depreciable assets. Section 50A is a special

OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, both the appeals for AY 2011-12 and 2012-

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

depreciation has been allowed under this Act or 9 I.T.A. Nos. 438 to 440/Hyd/2016 Ocean Sparkle Ltd., Hyd. under the Indian Income- tax Act, 1922 (11 of 1922 ), the provisions of sections 48 and 49 shall be subject to the following modifications:- (1) where the full value of the consideration received or accruing as a result of the transfer

OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, both the appeals for AY 2011-12 and 2012-

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

depreciation has been allowed under this Act or 9 I.T.A. Nos. 438 to 440/Hyd/2016 Ocean Sparkle Ltd., Hyd. under the Indian Income- tax Act, 1922 (11 of 1922 ), the provisions of sections 48 and 49 shall be subject to the following modifications:- (1) where the full value of the consideration received or accruing as a result of the transfer

OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, both the appeals for AY 2011-12 and 2012-

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

depreciation has been allowed under this Act or 9 I.T.A. Nos. 438 to 440/Hyd/2016 Ocean Sparkle Ltd., Hyd. under the Indian Income- tax Act, 1922 (11 of 1922 ), the provisions of sections 48 and 49 shall be subject to the following modifications:- (1) where the full value of the consideration received or accruing as a result of the transfer

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

In the result, assessee’s appeal is dismissed

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

Short Term Capital Gains arising out of the sale of depreciable business assets, which was looked into in depth and allowed

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

capital of the assessee and earn profit thereon. In the present case, though the assessee was required to maintain the T.P. Study and file the same before the TPO to show that the assessee’s transactions with it’s A.E. were at Arms Length however, nothing has been brought to our notice that the assessee has brought any comparable instance

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

capital of the assessee and earn profit thereon. In the present case, though the assessee was required to maintain the T.P. Study and file the same before the TPO to show that the assessee’s transactions with it’s A.E. were at Arms Length however, nothing has been brought to our notice that the assessee has brought any comparable instance

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

capital of the assessee and earn profit thereon. In the present case, though the assessee was required to maintain the T.P. Study and file the same before the TPO to show that the assessee’s transactions with it’s A.E. were at Arms Length however, nothing has been brought to our notice that the assessee has brought any comparable instance

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

capital of the assessee and earn profit thereon. In the present case, though the assessee was required to maintain the T.P. Study and file the same before the TPO to show that the assessee’s transactions with it’s A.E. were at Arms Length however, nothing has been brought to our notice that the assessee has brought any comparable instance

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

In the result assessee’s appeal is partly allowed

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

term capital gains of Rs.81,70,729/- to tax. The AO, accordingly, brought it to tax. The AO made a further disallowance of Rs.2,842/- on account of interest on TDS. Thus, the total assessed income was at Rs.6,22,02,131/-. 2.2. Subsequently, the Pr.CIT perused the assessment record and observed that the case was selected for scrutiny under

SHARAD BADRIVISHAL PITTI, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD

In the result, assessee’s appeal is allowed

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahshri Sharad Badrivishal Pitti Vs Dy. Commissioner Of Income Hyderabad Tax, Circle 16(3) Pan: Adfp2418K Hyderabad (Appellant) (Respondent)

depreciation on the same was claimed/allowed. The AO however, was not convinced and treated it as short term capital gain