MSN ORGANICS PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeals filed by the assessee for A

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

disallowance of the claim deduction of expenditure of Rs.15,89,486/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation - 1 to Section 153A(1) of the Act and argued that

MSN PHARMACHEM PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Appeal are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

160 (Delhi). 8. The learned CIT-DR, on the other hand, supporting the orders of the LD.CIT(A) submitted that the Explanation - 1 defines the “relevant assessment year”, the assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than

MSN PHARMACHEM PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Appeal are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

160 (Delhi). 8. The learned CIT-DR, on the other hand, supporting the orders of the LD.CIT(A) submitted that the Explanation - 1 defines the “relevant assessment year”, the assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than

MSN ORGANICS PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

disallowance of the claim deduction of expenditure of Rs.15,89,486/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation 1 to Section 153A(1) of the Act and argued that

MSN LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

disallowance of the claim deduction of expenditure of Rs.1,77,82,220/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation 1 to Section 153A(1) of the Act and argued

MSN LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon'Ble

disallowance of the claim deduction of expenditure of Rs.1,77,82,220/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation 1 to Section 153A(1) of the Act and argued

ALLCARGO GATI LIMITED(FORMALLY KNOWN AS GATI LIMITED),HYDERABAD vs. ITO, WARD-2(2), HYD, HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

disallowed the claim but the appellate Assistant Commissioner allowed the deduction of Rs.12,500. The Tribunal held that the entire expenditure of Rs.3,00,000 was allowable as expenditure for the year of issue incurred for the purpose of business. On a reference, the High Court noted that out of the total discount of Rs.3,00,000 an amount

ALLCARGO GATI LIMITED(FORMALLY KNOWN AS GATI LIMITED),HYDERABAD vs. ACIT,CIRCLE-2(2) HYDERABAD, HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

disallowed the claim but the appellate Assistant Commissioner allowed the deduction of Rs.12,500. The Tribunal held that the entire expenditure of Rs.3,00,000 was allowable as expenditure for the year of issue incurred for the purpose of business. On a reference, the High Court noted that out of the total discount of Rs.3,00,000 an amount

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

1% on average monthly average of investments is mandatory, whether or not, the assessee has incurred any expenditure for the purpose of earning dividend income. Since, the assessee has 10 ITA.No.113/Hyd./2025 not justified suo motu disallowance of Rs.5,000/- made under section 14A, the Assessing Officer has rightly invoked the provisions of Rule 8D of I.T. Rules

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

160/-\nwhich includes additional undisclosed income offered\nduring the course of search on the basis of incriminating\nmaterial which contains the unaccounted turnover of the\nentire group.\n7. During the course of assessment proceedings, the\nAssessing Officer on the basis of findings of the search\ncoupled with the statement recorded from the assessee,\ncalled-upon the assessee to explain

HYDERABAD SCIENCE SOCIETY,HYDERABAD vs. DCIT., EXEMPTION CIRCLE 1(1), HYDERABAD

In the result, appeal of the Assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G.आ.अपी.सं /Ita No.1128/Hyd/2024 Assessment Year 2015-2016 Hyderabad Science Society, Hyderabad. The Dcit, Vs. Pin - 500 028. Exemption Circle-1(1), Telangana. Hyderabad. Pan Aaath3789F (Appellant) (Respondent) For Assessee : Sri P Murali Mohan Rao, Ca For Revenue : Dr. Narendra Kumar Naik, Cit-Dr Date Of Hearing : 12.02.2026 Date Of Pronouncement : 11.03.2026 आदेश/Order

1. in passing the Order u/s 12AB(4) of the Act, dt. 30.09.2024. 2. The Ld. CIT(E) has erred in cancelling the registration granted u/s 12A of the Act without considering the facts of the case which is prejudicial to the interests of the appellant. 3. The Ld. CIT(E) erroneously taken up for re-determining the issue

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

160/-,which includes additional undisclosed income offered\nduring the course of search on the basis of incriminating\nmaterial which contains the unaccounted turnover of the\nentire group.\n7. During the course of assessment proceedings, the\nAssessing Officer on the basis of findings of the search\ncoupled with the statement recorded from the assessee,\ncalled-upon the assessee to explain

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

160/-, which includes additional undisclosed income offered during the course of search on the basis of incriminating material which contains the unaccounted turnover of the entire group.\n7. During the course of assessment proceedings, the Assessing Officer on the basis of findings of the search coupled with the statement recorded from the assessee, called-upon the assessee to explain

BRIJESH CHANDWANI,HYDERABAD vs. DCIT., CIRCLE -6(1), HYDERABAD

The appeal of the Assessee is allowed on this ground alone

disallowing the short term capital loss of an amount being Rs.35,39,35,330/-, under the facts and circumstances of the case. 9. Whether the learned Authorities below are justified in arriving at the unit loss of Rs. 1,53,71,792/-, and recalculating the short term capital gain, under the facts and circumstances of the case. 10. The Appellant

MSN ORGANICS PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

disallowance of the claim deduction of expenditure of Rs.15,89,486/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation 1 to Section 153A(1) of the Act and argued that

MSN ORGANICS PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Ble

disallowance of the claim deduction of expenditure of Rs.15,89,486/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation 1 to Section 153A(1) of the Act and argued that

MSN LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon'Ble

disallowance of the claim deduction of expenditure of Rs.1,77,82,220/- made by the AO towards expenses incurred against unaccounted cash receipts from sale of spent solvents / scrap and also challenged the legal validity of notice issued u/s 153A for the assessment year 2011-12 in light of Explanation 1 to Section 153A(1) of the Act and argued

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

160/-, which includes additional undisclosed income offered during the course of search on the basis of incriminating material which contains the unaccounted turnover of the entire group.\n\n7. During the course of assessment proceedings, the Assessing Officer on the basis of findings of the search coupled with the statement recorded from the assessee, called-upon the assessee to explain

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