MANJEERA PROJECTS ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

Appeals are partly allowed in above terms

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

13. Section 80IA of the Act is a specific provision which deals with deduction in respect of profits and gains from industrial undertakings or enterprises engaged in the development of infrastructural facilities such as roads, bridges and other structure as regards the grant of deduction in respect of development and construction of a housing project. Section 80IB is a specific

ACIT, CENTRAL CIRCLE-3(1), HYDERABAD vs. SRI CHAITANYA EDUCATIONAL COMMITTE, VIJAYAWADA

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

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

house property', 'profits and gains of business or profession' and capital gains and income from other sources. In the instant case considering the activity of the assessee the other income which has to be taxed at normal rates has to be computed under the head 'profits and gains of business or profession' as the activity of the assessee is akin

ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD vs. KAKATIYA URBAN DEVELOPMENT AUTHORITY, WARANGAL

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD vs. KAKATIYA URBAN DEVELOPMENT AUTHORITY, WARANGAL

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD vs. KAKATIYA URBAN DEVELOPMENT AUTHORITY, HYDERABAD

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

KAKATIYA URBAN DEVELOPMENT AUTHORITY ,WARANGAL vs. ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

KAKATIYA URBAN DEVELOPMENT AUTHORITY ,WARANGAL vs. ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

KAKATIYA URBAN DEVELOPMENT AUTHORITY ,WARANGAL vs. ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD vs. KAKATIYA URBAN DEVELOPMENT AUTHORITY , WARANGAL

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD vs. KAKATIYA URBAN DEVELOPMENT AUTHORITY, WARANGAL

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

KAKATIYA URBAN DEVELOPMENT AUTHORITY ,WARANGAL vs. ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

KAKATIYA URBAN DEVELOPMENT AUTHORITY ,WARANGAL vs. ASST. COMMISSIONER OF INCOME TAX, (EXEMPTIONS), HYDERABAD

In the result, all the appeals filed by the assessee are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 11(2) and 11(5) of the I.T. Act, 1961. However, the appellant has not submitted any evidence of making any representation before CIT(E) with regard to accumulation of the funds, though it is claimed that it is being done, since the issue is not before me so it does not require any adjudication. However, I uphold

DCIT, EXEMPTIONS CIRCLE, HYDERABAD vs. HYDERABAD METROPOLITAN DEVELOPMENT AUTHORITY, SECUNDERABAD

In the result, both the appeals of assessee and Revenue are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

13). The learned Commissioner of Income-Tax (Appeals) erred in confirming the addition of Rs.2,05,78,27,779/- representing Development deferment charges of Rs.3,68,89,350/-; Environment Impact fee of Rs.11,73,15,885/-; Fire Service Infrastructure Development charges of Rs.2,68,02,507/- and NALA charges of Rs.187,68,19,961/-. The learned Commissioner of Income

HYDERABAD METROPOLITAN DEVELOPMENT AUTHORITY,HYDERABAD vs. DCIT, EXEMPTIONS CIRCLE-1(1), HYDERABAD

In the result, both the appeals of assessee and Revenue are allowed for statistical purposes

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

13). The learned Commissioner of Income-Tax (Appeals) erred in confirming the addition of Rs.2,05,78,27,779/- representing Development deferment charges of Rs.3,68,89,350/-; Environment Impact fee of Rs.11,73,15,885/-; Fire Service Infrastructure Development charges of Rs.2,68,02,507/- and NALA charges of Rs.187,68,19,961/-. The learned Commissioner of Income

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD vs. CACHE PROPERTIES PRIVATE LIMITED , HYDERABAD

In the result, the Revenue’s appeal is dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

Section 28 cannot be invoked and the income received cannot be treated as profits of business. He also placed reliance upon the decision of the Hon'ble Apex Court in the case of Raj Dadarkar & Associates Vs. ACIT [394 ITR 592] (SC), wherein it was held that – The assessee acquired leasehold rights in a property, constructed various shops and stalls

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)

10. Coming back to the remaining amount of Rs. 1,92,95,618/- claimed by the assessee under Section 54F of the Act. The assessee has claimed a sum of Rs. 1,92,95,618/- being 20.6% 12 Kesava Kumar Kunapureddy TDS deducted on total consideration received for sale of property as amount spent towards construction of house property

CACHE PROPERTIES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD

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

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

Section 28 cannot be invoked and the income received cannot be treated as profits of business. He also placed reliance upon the decision of the Hon'ble Apex Court in the case of Raj Dadarkar & Associates Vs. ACIT [394 ITR 592] (SC), wherein it was held that – The assessee acquired leasehold rights in a property, constructed various shops and stalls

SRIDHAR REDDY BAYAPU,HYDERABAD vs. DCIT., CIRCLE-3(1), HYDERABAD

Bench: Us:

13. Considering the aforesaid facts, we find that the core issues involved in the present appeal boils down to two aspects, viz. (i). that as to whether or not the investment made by the assessee in the new residential property i.e., Villa No. 53 (supra) prior to the sale of the old property, viz residential house at Vijaya Nagar Colony