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

29 Taxman.com 19 in support of its contention. In that case, the assesses, a developer had undertaken several Housing Projects containing blocks of different sizes; some were of less than 1500 sft.area and others more than that. The assessee claimed proportionate deduction uls80IB(10) or those blocks which were of less than 1500 sft. area. The Assessing Officer denied deduction

SANGHI INDUSTRIES LIMITED,HYDERABAD vs. DCIT, CIRCLE -3 (1), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions, is identified; Emphasis is on comparable uncontrolled transactions or a number of transactions - hence median price for other parties charged by power unit is CUP and the AO was right in applying the same. Para 6.5.7 of the TPO order ( page

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

house 15,49,369 property 3 Short Term Capital 10,44,14,475 Gains 4 Income from other 17,65,05,274 NSL Renewable Power Pvt. Ltd., Hyd. sources 5 Total income from (+) various heads other 28,24,69,118 than “Profits and gains of business or profession” 6. However, while computing the total income, the assessee claimed

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

house 15,49,369 property 3 Short Term Capital 10,44,14,475 Gains 4 Income from other 17,65,05,274 NSL Renewable Power Pvt. Ltd., Hyd. sources 5 Total income from (+) various heads other 28,24,69,118 than “Profits and gains of business or profession” 6. However, while computing the total income, the assessee claimed

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

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.

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

AURORA EDUCATIONAL SOCIETY ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

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

properties. The society utilized all the sale proceeds for clearing of the loans of banks. 4.3 It was submitted that it is not correct to say that no proper books of account were maintained by the assessee. All the books are regularly maintained and audited. The audited financial statements are filed along with the return of income. It is also

TARAKARAMA EDUCATIONAL SOCIETY ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

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

properties. The society utilized all the sale proceeds for clearing of the loans of banks. 4.3 It was submitted that it is not correct to say that no proper books of account were maintained by the assessee. All the books are regularly maintained and audited. The audited financial statements are filed along with the return of income. It is also

CHURCH EDUCATINAL SOCIETY ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

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

properties. The society utilized all the sale proceeds for clearing of the loans of banks. 4.3 It was submitted that it is not correct to say that no proper books of account were maintained by the assessee. All the books are regularly maintained and audited. The audited financial statements are filed along with the return of income. It is also

KARSHAK VIDYA PARISHAD ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

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

properties. The society utilized all the sale proceeds for clearing of the loans of banks. 4.3 It was submitted that it is not correct to say that no proper books of account were maintained by the assessee. All the books are regularly maintained and audited. The audited financial statements are filed along with the return of income. It is also

DCIT, CIRCLE-1(1), HYDERABAD, HYDERABAD vs. PRAKASH NIMMAGADDA, HYDERABAD, SECUNDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita No.974/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2008-09) Dy.Cit Vs. Shri Prakash Nimmagadda Circle 1(1) Hyderabad Hyderabad Pan:Acbpn4246R (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri K.C. Devdas, Ca राज" व "ारा/Revenue By:: Dr. Meghnath Chowhan, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 06/11/2024 घोषणा की तारीख/Pronouncement: 16/12/2024 आदेश/Order Per Vijay Pal Raothis Appeal Filed By The Revenue Is Directed Against The Order, Dated 20/03/2017 Of The Learned Cit (A)-9, Hyderabad, Relating To A.Y.2008-09. 2. The Revenue Has Raised The Following Grounds:

10. I have perused the submissions of appellant, the information brought on record and the contention of the A.O. Considering the facts of the case in entirety, it appears that the A.O was erroneous in applying the section 28(iv) of the IT Act while making the addition on account of 'value of benefit arising from the receipt of land

INCOME TAX OFFICER, WARD-2(1), HYDERABAD vs. KSK WIND POWER SANKONAHATTI ATHNI PRIVATE LIMIED, HYDERABAD

In the result, all the four appeals of the Revenue are allowed

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Energy Ward-2(1), Halagali Benchi Private Hyderabad. Limited, Hyderabad. Pan: Aaeck 1965 F (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Sankonahatti Athni Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1900 C (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Aminabhavi Chikodi Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1888 R (Appellant) (Respondent)

10(5) of the Indian Income Tax Act, 1922 and whether the assessee will be entitled to depreciation allowances and development rebate with reference to such interest also. The court held that the accepted accountancy rule for determining cost of fixed assets is to include all expenditure necessary to bring such assets into existence and to put them in working

INCOME TAX OFFICER, WARD-2(1), HYDERABAD vs. KSK WIND ENERGY HALAGALI BENCHI PRIVATE LIMIED , HYDERABAD

In the result, all the four appeals of the Revenue are allowed

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Energy Ward-2(1), Halagali Benchi Private Hyderabad. Limited, Hyderabad. Pan: Aaeck 1965 F (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Sankonahatti Athni Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1900 C (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Aminabhavi Chikodi Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1888 R (Appellant) (Respondent)

10(5) of the Indian Income Tax Act, 1922 and whether the assessee will be entitled to depreciation allowances and development rebate with reference to such interest also. The court held that the accepted accountancy rule for determining cost of fixed assets is to include all expenditure necessary to bring such assets into existence and to put them in working

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. L & T METRO RAIL (HYDERABAD) LIMITED, HYDERABAD

In the result, appeal of the Revenue is allowed

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2016-17 Dcit, Vs. L & T Metro Rail Circle-16(1), (Hyderabad) Limited, Hyderabad. Hyderabad. Pan: Aabcl 8521 D (Appellant) (Respondent) Assessee By: Shri Ashik Shah Revenue By: Sri B. Sunil Kumar, Dr Date Of Hearing: 25/10/2021 Date Of Pronouncement: 21/01/2022 Order Per A. Mohan Alankamony, Am.:

10(5) of the Indian Income Tax Act, 1922 and whether the assessee will be entitled to depreciation allowances and development rebate with reference to such interest also. The court held that the accepted accountancy rule for determining cost of fixed assets is to include all expenditure necessary to bring such assets into existence and to put them in working

K.RAHEJA IT PARK (HYDERABAD) PVT.LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD, HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Satbeer Singh Godara & Laxmi Prasad Sahushri Assessment Year: 2011-12 K. Raheja It Park ` Dy. Commissioner Of (Hyderabad) Pvt. Ltd., Income-Tax, Hyderabad. Circle – 2(1), Hyderabad. Pan – Aacck 1914G (Appellant) (Respondent) Assessee By: Shri Vijay Mehta & Ms. Aarthi Sathe Revenue By Shri Yvst Sai Date Of Hearing: 18/03/2021 Date Of Pronouncement: 06/05/2021

house property and deduction u/s 80lA (4) is not allowable in respect of such income. c. The CIT(A) confirmed the action of the AD. vide order dated 12 September 2014. He further held that the appellant has failed to comply with the directions of the CSOT notification to locate 30 units in the industrial park. He also directed

INCOME TAX OFFICER (INTERNATIONAL TAXATION)-1, HYDERABAD vs. ARUNA GULLAPALLI, HYDERABAD

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2017-18 Income Tax Officer, Vs. Aruna Gullapalli, (International Taxation) – 1, Hyderabad. Hyderabad. Pan No.Bfhpg9489L. (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Kumar Adithya Date Of Hearing: 23.01.2023 Date Of Pronouncement: 31.01.2023

10. After admitting the documentary evidence submitted on. 08-03- 2021, the grounds of appeal raised by the appellant are adjudicated. as under: 11. The Ground of appeal No.1 relates to denial or cost of acquisition of the property sold by the AO amounting to Rs. 8,15,710/- as claimed by the appellant. 11.1 With respect to the above

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-10(1), HYDERABAD vs. VERTEX PROJECTS LLP (FORMERLY M/S VERTEX PROJECTS LTD) , HYDERABAD

In the result, the appeal of Revenue is partly allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2014-15 Acit,Circle-10(1) Vs. Vertex Projects Llp Room No.515, 5Th Floor, (Formerly M/S.Vertex A-Block, I.T.Towers, Projects Ltd.) A.C.Guards, #156-159, Paigah House Hyderabad. S.P.Road, Next To Pg College. Secunderabad-500 026. Pan : Aanfv0232C (Appellant) (Respondent) Assessee By: Shri Sriram Seshadri, Ca Revenue By: Shri Rajendra Kumar,Cit-Dr Date Of Hearing: 15.03.2023 Date Of Pronouncement: 28.04.2023 O R D E R Per Shri Laliet Kumar, J.M. This Is An Appeal Filed By The Revenue, Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-5, Dated 16.03.2018 For The Ay 2014-15, On The Following Grounds :

section 147 / 148 of the Act, the coordinate Bench had held as under : “22. Coming back to our point we have to examine whether protective assessment/addition is possible under section 147 in respect of the same person and for the same period. When a regular assessment is made and later on it comes to the notice of the Assessing Officer

RATANLAL JAIN,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2) , HYDERABAD

In the result, all the 4 appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarappeal In Ita No. Assessee Revenue A.Y 565/Hyd/2020 Smt. Madhu Devi Income 2015-16 Jain, Hyderabad Tax Officer Pan:Aejpj5260Q Ward 4(2) Hyderabad 566/Hyd/2020 Shri Rajesh Kumar -Do- 2015-16 Jain, Hyderabad Pan:Acepj6675N 567/Hyd/2020 Shri Ratanlal Jain -Do- 2015-16 Hyderabad Pan:Acepj6676N 568/Hyd/2020 Smt.Chandra Devi -Do- 2015-16 Jain, Hyderabad Pan:Acepj6674P Assessee By: Shri S. Rama Rao, Advocate Revenue By: Shri K. Madhusudan, Cit(Dr)

10. We have heard the rival arguments made by both the sides, perused the orders of the AO and the learned Pr. CIT and the paper book filed on behalf of the assessee. We have also considered the various decisions cited before us by both sides. We find the AO in the instant case has accepted the income returned

CHANDRA DEVI JAIN ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the 4 appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarappeal In Ita No. Assessee Revenue A.Y 565/Hyd/2020 Smt. Madhu Devi Income 2015-16 Jain, Hyderabad Tax Officer Pan:Aejpj5260Q Ward 4(2) Hyderabad 566/Hyd/2020 Shri Rajesh Kumar -Do- 2015-16 Jain, Hyderabad Pan:Acepj6675N 567/Hyd/2020 Shri Ratanlal Jain -Do- 2015-16 Hyderabad Pan:Acepj6676N 568/Hyd/2020 Smt.Chandra Devi -Do- 2015-16 Jain, Hyderabad Pan:Acepj6674P Assessee By: Shri S. Rama Rao, Advocate Revenue By: Shri K. Madhusudan, Cit(Dr)

10. We have heard the rival arguments made by both the sides, perused the orders of the AO and the learned Pr. CIT and the paper book filed on behalf of the assessee. We have also considered the various decisions cited before us by both sides. We find the AO in the instant case has accepted the income returned