MANJEERA PROJECTS ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

Appeals are partly allowed in above terms

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

26] The impugned judgment of (he Tribunal is set aside; and in the facts of the present case, the decision of the Assessing Officer to disallow deduction under section 80-IB(10

MANJEERA PROJECTS ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

Appeals are partly allowed in above terms

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

26] The impugned judgment of (he Tribunal is set aside; and in the facts of the present case, the decision of the Assessing Officer to disallow deduction under section 80-IB(10

MANJEERA PROJECTS ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-11(1), HYDERABAD

Appeals are partly allowed in above terms

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

26] The impugned judgment of (he Tribunal is set aside; and in the facts of the present case, the decision of the Assessing Officer to disallow deduction under section 80-IB(10

SANGHI INDUSTRIES LIMITED,HYDERABAD vs. DCIT, CIRCLE -3 (1), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

Disallowance of CSR expenses of Rs. 1,42,97,133/- against the returned income of Rs. 50,81,16,931/-. 2.1 Feeling aggrieved, the assessee raised certain objections before the Ld. DRP. The Ld. DRP, after considering the submissions of the assessee and also going through the material available on record, dismissed the objections raised by the assessee. Thereafter

BHUPAL INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

In the result, the appeal of the assessee for A

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

10,580/-. A search and seizure operation u/s 132 of the Income-tax Act, 1961 (for short “the Act”) was conducted in the case of the assessee on 27.09.2016. Notice u/s 153A was issued to the assessee on 06.03.2020, however, no return was filed in response. The A.O. noted that, an expenditure of Rs. 43,41,133/- booked

BHUPAL INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE -1(2), HYDERABAD

In the result, the appeal of the assessee for A

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

10,580/-. A search and seizure operation u/s 132 of the Income-tax Act, 1961 (for short “the Act”) was conducted in the case of the assessee on 27.09.2016. Notice u/s 153A was issued to the assessee on 06.03.2020, however, no return was filed in response. The A.O. noted that, an expenditure of Rs. 43,41,133/- booked

BHUPAL INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

In the result, the appeal of the assessee for A

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON'BLE (Accountant Member)

10,580/-. A search and seizure operation u/s 132 of the Income-tax Act, 1961 (for short “the Act”) was conducted in the case of the assessee on 27.09.2016. Notice u/s 153A was issued to the assessee on 06.03.2020, however, no return was filed in response. The A.O. noted that, an expenditure of Rs. 43,41,133/- booked

MANJEERA PROJECTS, HYDERABAD,HYDERABAD vs. ITO, WARD-6(2), HYDERABAD, HYDERABAD

In the result, assessee’s appeals are allowed

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

disallowed and not the entire claim of deduction. Thus, according to him, the assessee is Page 8 of 23 ITA Nos 1704 1082 and 1230 Manjeera Projects Hyderabad. eligible for deduction u/s 80IB(10) of the Act for all the blocks completed by it. 11. As regards the interest income which has been claimed as a deduction u/s 80IB(10

MANJEERA PROJECTS,HYDERABAD vs. ITO., WARD-6(2), HYDERABAD, HYDERABAD

In the result, assessee’s appeals are allowed

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

disallowed and not the entire claim of deduction. Thus, according to him, the assessee is Page 8 of 23 ITA Nos 1704 1082 and 1230 Manjeera Projects Hyderabad. eligible for deduction u/s 80IB(10) of the Act for all the blocks completed by it. 11. As regards the interest income which has been claimed as a deduction u/s 80IB(10

MANJEERA PROJECTS, HYD,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD, HYDERABAD

In the result, assessee’s appeals are allowed

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

disallowed and not the entire claim of deduction. Thus, according to him, the assessee is Page 8 of 23 ITA Nos 1704 1082 and 1230 Manjeera Projects Hyderabad. eligible for deduction u/s 80IB(10) of the Act for all the blocks completed by it. 11. As regards the interest income which has been claimed as a deduction u/s 80IB(10

CHINTALAPATI HOLDINGS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

disallowance under section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains, the grievance

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

disallowance under section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains, the grievance

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

disallowance under section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains, the grievance

THE DCIT, CENTRAL CIRCLE - 2, HYDERABAD vs. M/S. ENGINEERS REDDY P. LTD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata deduction claimed u/s.80IB(10) in respect of project 'Kumar Padmalaya'. The grounds raised

JANAPRIYA ENGINEERS SYNDICATE LIMITED (FORMERLY KNOWN AS JANAPRIYA ENGINEERS SYNDICATE PVT. LTD.),HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata deduction claimed u/s.80IB(10) in respect of project 'Kumar Padmalaya'. The grounds raised

JANAPRIYA ENGINEERS SYNDICATE LIMITED (FORMERLY KNOWN AS JANAPRIYA ENGINEERS SYNDICATE PVT. LTD.),HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata deduction claimed u/s.80IB(10) in respect of project 'Kumar Padmalaya'. The grounds raised

DCIT, CENTRAL CIRCLE-1(2), HYDERABAD, HYDERABAD vs. JANAPRIYA ENGINEERS SYNDICATE LIMITED, HYDERABAD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata deduction claimed u/s.80IB(10) in respect of project 'Kumar Padmalaya'. The grounds raised

THE DCIT, CENTRAL CIRCLE - 2, HYDERABAD vs. M/S. ENGINEERS REDDY P. LTD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata deduction claimed u/s.80IB(10) in respect of project 'Kumar Padmalaya'. The grounds raised