UNION BANK OF INDIA (ERSTWHILE-ANDHRA BANK),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

In the result, the appeal of revenue is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

145 without recording the same in the accounts, then, such debt or part thereof shall be allowed in the previous year in which such debt or part thereof becomes irrecoverable and it shall be deemed that such debt or part thereof has been written off as irrecoverable in the accounts for the purposes of this clause. Explanation 1

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD vs. UNION BANK OF INDIA, HYDERABAD

In the result, the appeal of revenue is partly allowed for statistical\npurposes

145 without recording the same in the accounts, then, such\ndebt or part thereof shall be allowed in the previous year in which such\ndebt or part thereof becomes irrecoverable and it shall be deemed that\nsuch debt or part thereof has been written off as irrecoverable in the\naccounts for the purposes of this clause.\nExplanation 1

SKANDHANSHI DEVELOPERS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

disallowance u/sec.40(a)(ia) of the Income Tax Act, 1961. Therefore, considering the overall scenario including relevant books of accounts maintained by the assessee and incriminating material found during the course of search observed that, the profit percentage of undisclosed turnover found during the course of search proceedings should be more than the profit percentage on the turnover admitted

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

disallowance of the claim\nof the assessee company for deduction under section 80G of the Act of\nRs. 1.88 crore (approx) by following the decision of the ITAT,\nHyd erabad in Optum Global Solutions (India) Private Limited Vs.\nDCIT Circle 5(1), Hyderabad, ITA 145

SKANDHANSHI DEVELOPERS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

section 145(3) of the I.Act. The books of accounts maintained by the assessee are therefore rejected.\n\n8. 1. Having rejected the books, the income of the assessee is required to be estimated based on the material available on record as per the following findings.\n\n8. 2. The assessee during the course of search proceedings as well

SKANDA INFRA PROJECTS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

section 145(3) of\nthe I.T.Act. The books of accounts maintained by the assessee are therefore\nrejected.\n8.1. Having rejected the books, the income of the assessee is required to be\nestimated based on the material available on record as per the following findings.\n8.2. The assessee during the course of search proceedings as well as assessment\nproceedings accepted that

OPTUM GLOBAL SOLUTIONS (INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT CIRCLE -5(1), HYDERABAD

In the result, both the appeals of assessee are partly allowed

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

disallowed and added back in terms of Explanation 2 to Section 37(1) of the Act. In terms of Section 135(5) of the Page 9 of 13 ITA-TP Nos. 145

OPTUM GLOBAL SOLUTIONS (INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE -5(1), HYDERABAD

In the result, both the appeals of assessee are partly allowed

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

disallowed and added back in terms of Explanation 2 to Section 37(1) of the Act. In terms of Section 135(5) of the Page 9 of 13 ITA-TP Nos. 145

SKANDA INFRA PROJECTS INDIA PRIVATE LIMITED,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

145(3) are reproduced hereunder:\n“Where the Assessing Officer is not satisfied about the correctness or\ncompleteness of the accounts of the assessee, or where the method\naccounting provided in section-section (1) [ has not been regularly followed by\nthe assessee, or income has not been computed in accordance with the\nstandards notified under section (2) ] the Assessing Officer

SKANDHANSHI INFRA PROJECTS INDIA PRIVATE LIMITED,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

section 145(3) of\nthe I.T.Act. The books of accounts maintained by the assessee are therefore\nrejected.\n\n8. 1. Having rejected the books, the income of the assessee is required to be\nestimated based on the material available on record as per the following findings.\n8. 2. The assessee during the course of search proceedings as well as assessment

SKANDA BUILDERS,KURNOOL vs. ACIT., CENTRAL CIRCLE - 2(3), HYDERABAD

disallowed u/sec.37(1) of the Income \nTax Act, 1961 and claim of expenses paid to Commission \nAgents for marketing sale of flats are appears to be high and \nnot subjected to TDS, which attracts disallowance \nu/sec.40(a)(ia) of the Income Tax Act, 1961. Therefore, \nconsidering the overall scenario including relevant books of \naccounts maintained by the assessee and incriminating

SANGHI TEXTILES PRIVATE LIMITED,HYDERBAD vs. ITO., WARD-3(1), HYDERABAD

Bench: Us:

disallowance is permissible. However, the contention of the appellant is incorrect as only income from contract receipts was estimated; remaining business income and expenses remained unevaluated. The appellant also failed to respond to repeated notices u/s 142(1) seeking supporting documents for claimed expenses. Therefore books of account were rightly rejected under section 145

SKANDA INFRA PROJECTS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

section 145(3) of\nthe I.T.Act. The books of accounts maintained by the assessee are therefore\nrejected.\nHaving rejected the books, the income of the assessee is required to be\nestimated based on the material available on record as per the following findings.\n8.2 The assessee during the course of search proceedings as well as assessment\nproceedings accepted that

SPANDANA SPHOORTY FINANCIAL LIMITED,HYDERABAD vs. ACIT., CIRCLE 3(2), HYDERABAD

Accordingly, the addition of Rs.11,44,51,818/- (supra) made by the\nAO, which, thereafter, had been sustained by the CIT(A), is vacated.\nThe Grounds of appeal Nos.3.1 to 3.4 are allowed in terms o...

1. GENERAL\n1.1\nThat on facts and in circumstances of the case and in law, the order\ndated 19 March 2025 issued by the Ld. Commissioner of Income-\ntax (Appeals), National Faceless Appeal Centre ['Ld. CIT(A)'] is bad\nin law and liable to be quashed.\n2.\nERRONEOUS ADDITION UNDER SECTION 69A OF THE\nINCOME

OCEAN SPARKLE LIMITED,HYDERABAD vs. DCIT., CIRCLE 5(1), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

disallowed the deduction/debu That fact was important. It indicated the double standard adopted by the department. [Para 10] The word 'expenditure" is not defined in the Act. The word 'expenditure' is, therefore, required to be understood in the context in which it is used. Section 37 enjoins that any expenditure not being expenditure of the nature described in sections

BSCPL AURANG TOLLWAY LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

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

Bench: the Tribunal. The assessee has filed an affidavit explaining the reasons for the delay, wherein it was submitted that the appeal for the relevant assessment year was required to be filed within 60 days from the date of receipt of the order passed under Section 263 of the Income-tax Act, 1961. However, the

disallowing the excess claim of depreciation, which was resulted on account of excess claim of amortisation, amounting to Rs.18,104.27 lakhs and reduce the resultant loss to be carried forward to the subsequent Asst Years accordingly.” 9. Aggrieved by the order of Ld. PCIT, the assessee is now in appeal before the Tribunal. 10. The learned counsel for the assessee

BRIGHTCOM GROUP LIMITED (FORMERLY KNOWN AS LYCOS INTERNET LIMITED),HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(1),, HYDERABAD

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

145 of the Act. 1.3. Ought to have appreciated the fact that the outstanding receivables are accrued from the sale of services rendered to the AE during the normal course of business and hence it cannot be equated to the term 'capital financing' as interpreted in section 92B of the Act. 1.4. Ought to have appreciated the fact that

SHELADIA ASSOCIATES INC,SD ROAD vs. ADIT(INT TAXN)-2, HYDERABAD

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita No. 537/Hyd/2023 (धििाारण वर्ा / Assessment Year: 2021-22) Sheladia Associates Inc, Adit (Int Taxn)-2, Secunderabad Vs. Hyderabad [Pan No. Aafcs7792F] अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent

disallowance of expense under section 44C of the Act is concerned, the assessee under other expenses in the consolidated P&L Account reported expenses of Rs. 1,21,62,145