DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), HYDERABAD vs. SEW INFRASTRUCTURE LIMITED, HYDERABAD

Bench: Justice (Retd.) C.V. Bhadang, Shri Mahavir Singh & Shri G. Manjunatha

disallowed the claim of deduction, inter-alia, on the ground that a claim not made in the original return filed under Section 139(1) and sought to be made for the first time in a return filed pursuant to a notice under Section 153A of the Act would not be maintainable. Further, the assessee was also found to be ineligible

DY.COMMISSIONER OF INCOME TAX, CIRCLE 2(2), HYDERBAD vs. SEW INFRASTUCTURE LIMITED, HYDERABAD

Bench: Shri Manjunatha G & Shri K. Narasimha Chary

158B(b) of the Act. The new provisions of assessment in the case of a search under Section 153A came into force w.e.f 01-06-2003 and the said provisions require the AO to determine the total income and not the undisclosed income. Therefore, before going deeper into the issue, it is necessary to consider the provisions of Section 153A

DCIT, CENTRAL CIRLCE-2(1), HYD, HYDERABAD vs. MEGHA ENGINEERING & INFRASTURCTURE LTD,, HYDERABAD

In the result, all the appeals of the revenue are dismissed

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

disallowed, counters the very concept of fresh assessment of total income. 8. The reliance of the learned Departmental Representative on the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Sun Engineering Works Pvt. Ltd [ (1992) 198 ITR 297 (SC) ] is misconceived. The reason for the same is that in that case the Hon'ble Supreme

DCIT, CENTRAL CIRCLE-2(1), HYD, HYDERABAD vs. MEGHA ENGINEERING & INFRASTURCTURES LIMITED, HYD, HYDERABAD

In the result, all the appeals of the revenue are dismissed

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

disallowed, counters the very concept of fresh assessment of total income. 8. The reliance of the learned Departmental Representative on the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Sun Engineering Works Pvt. Ltd [ (1992) 198 ITR 297 (SC) ] is misconceived. The reason for the same is that in that case the Hon'ble Supreme

DCIT, CENTRAL CIRLCE-2(1), HYD, HYDERABAD vs. MEGHA ENGINEERING & INFRASTURCTURE LTD,, HYDERABAD

In the result, all the appeals of the revenue are dismissed

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

disallowed, counters the very concept of fresh assessment of total income. 8. The reliance of the learned Departmental Representative on the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Sun Engineering Works Pvt. Ltd [ (1992) 198 ITR 297 (SC) ] is misconceived. The reason for the same is that in that case the Hon'ble Supreme

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), HYD, HYDERABAD vs. MEGHA ENGINEERING & INFRASTURCTURE LIMITED, HYD, HYDERABAD

In the result, all the appeals of the revenue are dismissed

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

disallowed, counters the very concept of fresh assessment of total income. 8. The reliance of the learned Departmental Representative on the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Sun Engineering Works Pvt. Ltd [ (1992) 198 ITR 297 (SC) ] is misconceived. The reason for the same is that in that case the Hon'ble Supreme

DCIT, CENTRAL CIRLCE-2(1), HYD, HYDERABAD vs. MEGHA ENGINEERING & INFRASTURCTURE LTD,, HYDERABAD

In the result, all the appeals of the revenue are dismissed

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

disallowed, counters the very concept of fresh assessment of total income. 8. The reliance of the learned Departmental Representative on the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Sun Engineering Works Pvt. Ltd [ (1992) 198 ITR 297 (SC) ] is misconceived. The reason for the same is that in that case the Hon'ble Supreme

DCIT, CENTRAL CIRLCE-2(1), HYD, HYDERABAD vs. MEGHA ENGINEERING & INFRASTURCTURE LTD,, HYDERABAD

In the result, all the appeals of the revenue are dismissed

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

disallowed, counters the very concept of fresh assessment of total income. 8. The reliance of the learned Departmental Representative on the judgment of the Hon'ble Supreme Court in the case of CIT Vs. Sun Engineering Works Pvt. Ltd [ (1992) 198 ITR 297 (SC) ] is misconceived. The reason for the same is that in that case the Hon'ble Supreme

DY. COMMISSIONER OF INCOME TAX , CIRCLE-3(1), HYDERABAD vs. SEW INFRASTRUCTURE LIMITED , HYDERABAD

Bench: Shri Manjunatha G & Shri K. Narasimha Chary

disallowance of entire deduction claimed U/s 801A(4), Rs.79,25,89,837/ which is related to profit attributable to works carried out by JVs and should not have restricted the same only to the extent double deduction claimed in the hands, JVs Rs.2,07,650/- as well as that of the assessee. 5. Whether on the facts and circumstances

DY.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), HYDERABAD vs. SEW INFRASTRUCTURE LIMITED , HYDERABAD

Bench: Shri Manjunatha G & Shri K. Narasimha Chary

disallowance of entire deduction claimed U/s 801A(4), Rs.79,25,89,837/ which is related to profit attributable to works carried out by JVs and should not have restricted the same only to the extent double deduction 27 ITA. Nos.1721, 1722 & 1723/Hyd./2017 And ITA.No.1416/Hyd./2019 claimed in the hands, JVs Rs.2,07,650/- as well as that

SUJIT AGARWAL ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2014-15 Shri Sujit Agarwal Vs. Dy. C. I. T. Hyderabad Central Circle 2(2) Pan:Aclpa3197P Hyderabad (Appellant) (Respondent) Assessee By: Shri S. Rama Rao, Advocate Revenue By: Shri Ch V Gopinath, Cit(Dr) Date Of Hearing: 09/11/2023 Date Of Pronouncement: 22/11/2023 Order Per R.K. Panda, Vice-This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.01.2019 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2014-15. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & The Managing Director Of The Company, M/S. Sawaria Pipes Pvt Ltd. He Filed His Original Return Of Income For The Impugned A.Y On 30.12.2014 Declaring Total Income Of Rs.20,13,600/- & Agricultural Income Of Rs.70,200/-. A Search & Seizure Operation U/S 132 Of The I.T. Act Was Conducted In The Case Of The Assessee On 12.01.2016. In Response To Notice U/S 153A Of The Act Issued On 6.9.2016, The Assessee Filed His Return

disallowing the capital gain of Rs.6,89,76,599.11 claimed to be exempt u/s 10(38) inspite of producing and furnishing all the necessary evidence for purchase and sale of shares by way of documents, explanations, submissions and information during assessment proceedings which conclusively proved to be genuine transaction. 5. The CIT (Appeals) as well as AO erred in holding

JITENDER KUMAR GUPTA,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2012-13 Sri Jitender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aappg6606B Assessment Year: 2013-14 Sri Virender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aaspg1887D Assessee By: Shri K.C. Devdas, Ca Revenue By: Smt. T.H. Vijaya Lakshmi, Cit(Dr) Date Of Hearing: 25/09/2023 Date Of Pronouncement: 17/10/2023 Order Per Laliet Kumar, J.M These Are The Two Connected Appeals Filed By The Respective Assessees Are Directed Against The Common Order Dated 27.07.2022 Of The Learned Cit (A)-11, Hyderabad Relating To A.Ys. 2012-13 & 2013-14 Respectively. Since Identical Grounds Have Been Taken By The Assessees In Both These Appeals, Therefore, For Page 1 Of 23

disallowed the claim of Long Term Capital Gain u/s 10(38) and assessed the same as unexplained cash receipt u/s 68 of the I.T. Act Accordingly, the amount of Rs.1,04,81,814/- introduced/credited by the assessee against the sale of scripts of above mentioned Twenty First Century India Ltd during the financial year

ACIT, CENTRAL CIRCLE-3(1), HYDERABAD vs. VIRENDER KUMAR GUPTA, HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2012-13 Sri Jitender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aappg6606B Assessment Year: 2013-14 Sri Virender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aaspg1887D Assessee By: Shri K.C. Devdas, Ca Revenue By: Smt. T.H. Vijaya Lakshmi, Cit(Dr) Date Of Hearing: 25/09/2023 Date Of Pronouncement: 17/10/2023 Order Per Laliet Kumar, J.M These Are The Two Connected Appeals Filed By The Respective Assessees Are Directed Against The Common Order Dated 27.07.2022 Of The Learned Cit (A)-11, Hyderabad Relating To A.Ys. 2012-13 & 2013-14 Respectively. Since Identical Grounds Have Been Taken By The Assessees In Both These Appeals, Therefore, For Page 1 Of 23

disallowed the claim of Long Term Capital Gain u/s 10(38) and assessed the same as unexplained cash receipt u/s 68 of the I.T. Act Accordingly, the amount of Rs.1,04,81,814/- introduced/credited by the assessee against the sale of scripts of above mentioned Twenty First Century India Ltd during the financial year

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED, HYDERABAD

In the result, a) ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

disallowance either u/s 40A(3) or u/s 40(a)(ia) of the I.T.Act. In this regard a reference may kindly be made to the assessment order passed by the Assessing officer in the case of the sub contractors. Invariably, the assessments in the cases of the sub-contractors were completed on an estimate basis which clearly indicate that there

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED, HYDERABAD

In the result, a) ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

disallowance either u/s 40A(3) or u/s 40(a)(ia) of the I.T.Act. In this regard a reference may kindly be made to the assessment order passed by the Assessing officer in the case of the sub contractors. Invariably, the assessments in the cases of the sub-contractors were completed on an estimate basis which clearly indicate that there

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3)., HYDERABAD vs. SAI SUDHIR INFRASTRUCTURES LIMITED, HYDERABAD

In the result, a) ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

disallowance either u/s 40A(3) or u/s 40(a)(ia) of the I.T.Act. In this regard a reference may kindly be made to the assessment order passed by the Assessing officer in the case of the sub contractors. Invariably, the assessments in the cases of the sub-contractors were completed on an estimate basis which clearly indicate that there

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED, HYDERABAD

In the result, a) ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

disallowance either u/s 40A(3) or u/s 40(a)(ia) of the I.T.Act. In this regard a reference may kindly be made to the assessment order passed by the Assessing officer in the case of the sub contractors. Invariably, the assessments in the cases of the sub-contractors were completed on an estimate basis which clearly indicate that there

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED , HYDERABAD

In the result, a) ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

disallowance either u/s 40A(3) or u/s 40(a)(ia) of the I.T.Act. In this regard a reference may kindly be made to the assessment order passed by the Assessing officer in the case of the sub contractors. Invariably, the assessments in the cases of the sub-contractors were completed on an estimate basis which clearly indicate that there

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(3), HYDERABAD vs. ASR ENGINEERING AND PROJECTS LIMITED, HYDERABAD

In the result, a) ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmansrl Appeal Number Pan A.Y. Appellant Respondent 1

disallowance either u/s 40A(3) or u/s 40(a)(ia) of the I.T.Act. In this regard a reference may kindly be made to the assessment order passed by the Assessing officer in the case of the sub contractors. Invariably, the assessments in the cases of the sub-contractors were completed on an estimate basis which clearly indicate that there