RAVI RISHI EDUCATIONAL SOCIETY ,HYDERABAD vs. ACIT CENTRAL CIRCLE-2 (4), HYDERABAD
In the result, the solitary ground raised by the Revenue in the appeals are dismissed
ITA 146/HYD/2022[2017-18]Status: PendingITAT Hyderabad19 Jul 2022AY 2017-18
Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2017-18 Ravi Rishi Educational A.C.I.T. Society, Hyderabad Central Circle 2(4) Pan:Aaaar1952M Hyderabad (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Esthen N Hangal, Dr Date Of Hearing: 07/06/2022 Date Of Pronouncement: 19/07/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 21/04/2022 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2017-18. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Aop & Registered U/S 12A Of The I.T. Act Vide Proceedings Of The Director Of Income Tax (Exemption) Hyderabad In F.No.Hqrs/I/15/12A/Dit(E) Dated 27.02.2003. The Assessee Filed Its Original Return Of Income For The A.Y 2017-18 On 06.11.2017 Admitting Total Income Of Rs.Nil. M/S. Ravi Rishi Educational Society Is Run By Close Family Members Mr.N.Rajababu, Mr.Ramesh Babu, Mrs. N. Sulochana, Mrs. N. Yashoda, Mrs. N.
For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Esthen N Hangal, DR
Section 11Section 12ASection 132Section 143(3)Section 153A
10-20 Gts
40,00,000
4,29,00,000
AC 55-23 Gts
18,05,92,500
6. The Assessing Officer noted that out of the above total sale consideration, it is clearly mentioned that an amount of Rs.5,17,50,000 was paid through RTGS or A/c payee mode.
Further an amount of Rs.6
