DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. TRACKS & TOWERS INFRATECH PRIVATE LIMITED(PART IX), HYDERABAD

In the result, both the appeals filed by the revenue are partly allowed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

133A was carried out in the case of the appellant on 22.02.2016 and the appellant had disclosed an additional income of Rs. 5,00,00,000/- for the year under consideration. The appellant, there after filed a revised return u/s. 139(5) on 21.12.2016 at an income of Rs. 9,70,04,260/- and claiming a deduction u/ s. 80IA

DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. TRACKS & TOWERS INFRATECH PRIVATE LIMITED(PART IX), HYDERABAD

In the result, both the appeals filed by the revenue are partly allowed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

133A was carried out in the case of the appellant on 22.02.2016 and the appellant had disclosed an additional income of Rs. 5,00,00,000/- for the year under consideration. The appellant, there after filed a revised return u/s. 139(5) on 21.12.2016 at an income of Rs. 9,70,04,260/- and claiming a deduction u/ s. 80IA

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

133A, but subsequently later at a place other than the place where the appellant company is registered, has not carried out any meaningful enquiry, consequent to the survey. No correspondence has been initiated to enquire into the modus operandi of the money trial into the appellant books. No details of bank statements have been obtained to conduct a trial

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

133A, but subsequently later at a place other than the place where the appellant company is registered, has not carried out any meaningful enquiry, consequent to the survey. No correspondence has been initiated to enquire into the modus operandi of the money trial into the appellant books. No details of bank statements have been obtained to conduct a trial

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

NCC LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

NCC LIMITED, ,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1),, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

NCC LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

133A was conducted on 25.01.2010 in the assessee’s premises. As incriminating documents, evidences Page 26 of 65 ITA Nos 73 to 75 and 77 to 80 of 2017 NCC Ltd relating to unaccounted income generation and investment were found, the assessee disclosed the income of Rs.132,94,25,643/- as additional income of the group. The proceedings were initiated

DCIT, CIRCLE - 16(2), HYDERABAD vs. M/S MAHESHWARI MEGA VENTURES LIMITED,, HYDERABAD

In the result, appeal of the revenue is dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2006-07

133A was conducted on 20/10/2008 in the case of the assessee. The AO after discussing with the assessee and also based on statements recorded in course of 2 I.T.A. No. 1352/Hyd/14 Maheshwari Mega Ventures Ltd., Hyd. survey, completed the assessment by making the following additions/disallowances: 3. Disallowance of development expenditure claimed on sale of lands under the head income from

SHAFIUDDIN AHMED QUADRI ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-7(1), HYDERABAD

In the result, appeal of the assessee is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2009-10 Shafiuddin Ahmed Quadri, Vs. Asst. Commissioner Of Hyderabad. Income-Tax, Circle – 7(1), Pan – Aabpq 1650M Hyderabad. (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri T. Sunil Goutam Date Of Hearing: 15/03/2022 Date Of Pronouncement: 17/03/2022

133A was conducted on 8-09- 2015 in the case of Sri Syed Shafiuddin Ahmed Quadri, Prop: M/s. Happy Home Housing. 3.1 During the course of survey proceedings, material evidence was gathered, based on which, it is seen that the assessee had paid cash of Rs. 98,85,000/- to the owners of the land. This cash was paid subsequent

TANVI FOODS (INDIA) LIMITED (PREVIOUSLY KNOWN AS TANVI FOODS(INDIA) PVT LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD-2(4), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

u/s 133A was conducted on 30/12/2015 at Registered office at D.No. 7-2-4/D, Old Canteen building, IDA, Sanath Nagar, Hyderabad and workshop and office at 54-20/9-9A, Timmarsuvari Street, Srinagar Colony, Vijayawada. During the course of survey proceedings a statement was recorded from Sri A. Sriagaveer wherein it was asked to furnish the bills/vouchers in respect

TANVI FOODS (INDIA) LIMITED (PREVIOUSLY KNOWN AS TANVI FOODS(INDIA) PVT LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD-2(4), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

u/s 133A was conducted on 30/12/2015 at Registered office at D.No. 7-2-4/D, Old Canteen building, IDA, Sanath Nagar, Hyderabad and workshop and office at 54-20/9-9A, Timmarsuvari Street, Srinagar Colony, Vijayawada. During the course of survey proceedings a statement was recorded from Sri A. Sriagaveer wherein it was asked to furnish the bills/vouchers in respect

TANVI FOODS (INDIA) LIMITED (PREVIOUSLY KNOWN AS TANVI FOODS(INDIA) PVT LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD-2(4), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

u/s 133A was conducted on 30/12/2015 at Registered office at D.No. 7-2-4/D, Old Canteen building, IDA, Sanath Nagar, Hyderabad and workshop and office at 54-20/9-9A, Timmarsuvari Street, Srinagar Colony, Vijayawada. During the course of survey proceedings a statement was recorded from Sri A. Sriagaveer wherein it was asked to furnish the bills/vouchers in respect

SPR INFRASTRUCTURE INDIA LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-3(2), HYDERABAD, HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu(Through Virtual Hearing)

133A in assessee’s business premises on 20.07.2011. During the course of survey, it was found that assessee has no bills or vouchers for the expenditure claimed in the returns of income. Similarly, from the bank statement found during the survey and also obtained post survey, it was found that assessee had received huge amounts from M/s. Global City Projects

THE PRAKASAM DISTRISET POLICE WELFARE ASSOCIATION,ONGOLE vs. ITO., WARD-1, ONGOLE

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

u/s. 147 of the Act had been revamped vide the Finance Act, 2021 w.e.f. 01.04.2021. The substituted Sections 147 to 159 and Section 151 of the Act, applicable w.e.f. 01.04.2021 are culled out as under: “Income escaping assessment- 8 The Prakasam District Police Welfare Association vs. ITO 147. If any income chargeable to tax, in the case of an assessee

BILWA INFRASTRUCTURE LIMITED,HYDERABAD vs. ITO., WARD-1(1), HYDERABAD

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

Bench: SHRI RAVISH SOOD, HON'BLE (Judicial Member), SHRI MADHUSUDAN SAWDIA HON'BLE (Accountant Member)

u/s. 147 of the Act had been revamped vide the Finance Act, 2021 w.e.f. 01.04.2021. The substituted Sections 147 to 159 and Section 151 of the Act, applicable w.e.f. 01.04.2021 are culled out as under: “Income escaping assessment- 147. If any income chargeable to tax, in the case of an assessee, has escaped assessment for any assessment year, the Assessing