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

section 80IB(10) deduction claim. Learned coordinate bench has already upheld the assessee’s claim in Para 31. We therefore direct the assessing authority to frame its consequential computation as per law i.e. he shall reiterate his impugned sec 80IB (10) disallowance

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

section 80IB(10) deduction claim. Learned coordinate bench has already upheld the assessee’s claim in Para 31. We therefore direct the assessing authority to frame its consequential computation as per law i.e. he shall reiterate his impugned sec 80IB (10) disallowance

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

section 80IB(10) deduction claim. Learned coordinate bench has already upheld the assessee’s claim in Para 31. We therefore direct the assessing authority to frame its consequential computation as per law i.e. he shall reiterate his impugned sec 80IB (10) disallowance

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)

disallowed separately, amounting to double addition. Therefore, he submitted that, the addition made by the A.O. should be deleted. 25. The learned Senior A.R. for the Revenue, on the other hand, supporting the order of the Ld. CIT(A) submitted that, during the course of search, it shows clear difference between net profit as financial statements found in the office

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)

disallowed separately, amounting to double addition. Therefore, he submitted that, the addition made by the A.O. should be deleted. 25. The learned Senior A.R. for the Revenue, on the other hand, supporting the order of the Ld. CIT(A) submitted that, during the course of search, it shows clear difference between net profit as financial statements found in the office

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)

disallowed separately, amounting to double addition. Therefore, he submitted that, the addition made by the A.O. should be deleted. 25. The learned Senior A.R. for the Revenue, on the other hand, supporting the order of the Ld. CIT(A) submitted that, during the course of search, it shows clear difference between net profit as financial statements found in the office

PRASAD FILM LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CIRCLE-6(1), HYDERABAD

In the result appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

10. We have heard both the parties, perused the material on record and the orders of the authorities below. The assessee has challenged disallowance under section 14A read with Rule 8D of I.T. Rules, 1962 in light of provisions of section 14A(2) of the Act and argued that, in absence of satisfaction with reference to the books of accounts

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

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

31,375/- on this score, learned CIT(A) thought it fit that the allowance of the balance must be subject to the restriction that the depreciation on building from which rent was earned not to be allowed, disallowance under section 14A of the Act and interest on borrowed capital allowed under section

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

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

31,375/- on this score, learned CIT(A) thought it fit that the allowance of the balance must be subject to the restriction that the depreciation on building from which rent was earned not to be allowed, disallowance under section 14A of the Act and interest on borrowed capital allowed under section

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

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

31,375/- on this score, learned CIT(A) thought it fit that the allowance of the balance must be subject to the restriction that the depreciation on building from which rent was earned not to be allowed, disallowance under section 14A of the Act and interest on borrowed capital allowed under section

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 the claim on the ground that the approval for “E” building was granted on 11th of October, 2002, as an extension of the approval granted for the buildings in A to D and therefore, the E block, being continuation of A, B, C & D buildings, the project must be held to have commenced prior to October

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 the claim on the ground that the approval for “E” building was granted on 11th of October, 2002, as an extension of the approval granted for the buildings in A to D and therefore, the E block, being continuation of A, B, C & D buildings, the project must be held to have commenced prior to October

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 the claim on the ground that the approval for “E” building was granted on 11th of October, 2002, as an extension of the approval granted for the buildings in A to D and therefore, the E block, being continuation of A, B, C & D buildings, the project must be held to have commenced prior to October

DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. HSBC ELECTRONIC DATA PROCESSING INDIA PRIVATE LIMITED, , HYDERABAD

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

10,00,000 as determined by the Ld. AO on ad-hoc basis; Additional Ground 3.1. erred in disallowing the expenses pertaining to AY 2010-11 amounting to Rs. 11,51,001 without appreciating the facts of the Appellant; 3.2. Without prejudice to ground, the Ld. CIT(A) erred in law and on facts in setting-aside the matter

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