INCOME TAX OFFICER, WARD-2(1), HYDERABAD vs. NARASIMHA REDDY DUTHALA, HYDERABAD

In the result, appeal of the Revenue is dismissed

Income from house property\" till time of possession, therefore,\ncondition stipulated in clause (b) of proviso to section 54F(1) was\nnot satisfied and, accordingly, consequential relief was to be\ngranted to assessee.\n6.16.5.\nOn similar facts, Hon'ble ITAT, Mumbai in the\ncase of Shweta Singh Vs ITO (2024) (161 taxmann.com 302)\n(Mumbai - Trib.) has held that Joint

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED , HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED , HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED, HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED, HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED, HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

Housing Construction Ltd In [2016] 70 taxmann.com 2 (SC), wherein the Apex Court held as under: "Where assessee-company filed revised return claiming that income declared in original return in respect of sale of land/FSI stood withdrawn due to cancellation of sale agreements and High Court by impugned order held that no hypothetical income of assessee in respect of said

SURENDRA BABU SABBINENI,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

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

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2010-11

Income from House Property' is incorrect. This is not the only reason for denial of the exemption, as discussed above, but it is an important reason, which further proves that the said properties are residential in nature. Neither do the case laws relied upon help the case of the appellant in any manner, since the facts are entirely different

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

In the result, appeal ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

income from land transactions. 40. The next issue that came-up for consideration from ground nos.5 and 6 of assessee’s appeal is addition towards unexplained investment in house property

GOWRI SHANKAR GUPTA,HYDERABAD vs. INCOME TAX OFFICER, WARD-2(3), HYDERABAD

additions made and upheld by the lower authorities. 3. Succinctly stated, the assessee had e-filed his return of income for the A.Y.2017-18 on 24.07.2017, declaring an income of Rs.47,74,430/-. Subsequently, the case of the assessee was selected for limited scrutiny for two reasons, viz.(i) the amount paid or credited in his “Form 26AS” was significantly more

ITO (INTERNATIONAL TAXATION)-1, HYDERABAD vs. KESAVA KUMAR KUNAPUREDDY, HYDERABAD

In the result, the appeal of the Revenue is dismissed

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

additions made by the A.O. towards disallowance of deduction claimed under Section 54F on the ground that, the amount invested for construction of new residential house property upto the date of filing of return of income

GONUGUNTLA NIRMALA DEVI,ANANTAPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, ANANTAPUR, ANANTAPUR

In the result, the appeal of the assessee is partly allowed

Bench: Shri R.K. Panda & Shri Laliet Kumar

house property and consequently erred in confirming the addition of Rs.48,09,502/- made under the head 'Income from house

SIVA PRASAD REDDY BUCHEPALLI,CHIMAKURTHY vs. ACIT, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

addition on mere document/loose paper without corroborative evidence. The document which does not describe and express any meaning cannot be relied upon by the Assessing officer with mere guess work.” 3. The brief facts of the lead case are that the assessee is an individual and derives income from house property

NAGA LAKSHMI BUCHEPALLI,CHIMAKURTHY vs. ACIT, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

addition on mere document/loose paper without corroborative evidence. The document which does not describe and express any meaning cannot be relied upon by the Assessing officer with mere guess work.” 3. The brief facts of the lead case are that the assessee is an individual and derives income from house property

SIVA PRASAD REDDY BUCHEPALLI,CHIMAKURTHY vs. ACIT, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

addition on mere document/loose paper without corroborative evidence. The document which does not describe and express any meaning cannot be relied upon by the Assessing officer with mere guess work.” 3. The brief facts of the lead case are that the assessee is an individual and derives income from house property