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

34) of the Income Tax Act, 1961 [in short “the Act”]. The Assessing Officer further noted that, assessee has made suo motu disallowance of expenditure of Rs.5,000/- u/sec.14A of the Income Tax Act, 1961. The Assessing Officer, called-upon the assessee to explain as to why disallowance contemplated u/sec.14A of the Act shall not be disallowed by invoking Rule

MADHUSUDHAN JAJU,HYDERABAD vs. INCOME TAX OFFICER, WARD-1, SANGAREDDY

In the result, the C.O. of the Revenue is allowed for statistical\npurposes

34,000/-.\n7.3 In the result, the first issue of the assessee is allowed.\n8.\nWith regard to second issue, related to cost of improvement of\nRs.7,50,000/-, the Ld. AR submitted that, the assessee has incurred\ncost of Rs.2.50 lakhs; Rs.2 lakhs; Rs.2 lakhs and Rs.1 lakh during the\nF.Ys

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)

10,00,000/- shown as cash payment for purchase of new vehicles. Even though the above expenditure is capital in nature, the A.O. made addition u/s 69C of the Act. Therefore, he submitted that, the addition made by the A.O. should be deleted. 29. The Learned Senior A.R. for the Revenue, on the other hand, supporting the order

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)

10,00,000/- shown as cash payment for purchase of new vehicles. Even though the above expenditure is capital in nature, the A.O. made addition u/s 69C of the Act. Therefore, he submitted that, the addition made by the A.O. should be deleted. 29. The Learned Senior A.R. for the Revenue, on the other hand, supporting the order

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)

10,00,000/- shown as cash payment for purchase of new vehicles. Even though the above expenditure is capital in nature, the A.O. made addition u/s 69C of the Act. Therefore, he submitted that, the addition made by the A.O. should be deleted. 29. The Learned Senior A.R. for the Revenue, on the other hand, supporting the order

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

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

10/- per share, and seems to have based the computation of capital gains on the statement of Mr. Raghurama Krishna Raju, we are of the considered opinion that the ends of justice would be met by directing the learned Assessing Officer to furnish a copy of the statement of Mr. Raghurama Krishna Raju to the Page

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

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

10/- per share, and seems to have based the computation of capital gains on the statement of Mr. Raghurama Krishna Raju, we are of the considered opinion that the ends of justice would be met by directing the learned Assessing Officer to furnish a copy of the statement of Mr. Raghurama Krishna Raju to the Page

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

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

10/- per share, and seems to have based the computation of capital gains on the statement of Mr. Raghurama Krishna Raju, we are of the considered opinion that the ends of justice would be met by directing the learned Assessing Officer to furnish a copy of the statement of Mr. Raghurama Krishna Raju to the Page

ACIT., CIRCLE-5(1), HYDERABAD vs. MYLAN LABORATORIES LIMITED, HYDERABAD

In the result. appeal of the Assessee is partly allowed for statistical purposes and appeal of Revenue is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

disallowance of weighted deduction of expenditure incurred for scientific and research amounting to Rs.19,10,91,910/- under section 35(2AB)of the Act. 34

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

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

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

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

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

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

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

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