MANJEERA PROJECTS ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-11(1), HYDERABAD

Appeals are partly allowed in above terms

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

Properties), which was decided by the Bombay High Court on similar lines as in the assessee's case before us". In the case before us, the assessee had admittedly completed four buildings i.e. G, H, I & K and has also furnished the occupancy certificate dated 29.3.2012. Therefore, the assessee is clearly eligible for deduction u/s 80IB(10) on the profits

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

MADHUSUDHAN JAJU,HYDERABAD vs. INCOME TAX OFFICER, WARD-1, SANGAREDDY

In the result, the C.O. of the Revenue is allowed for statistical\npurposes

37 of the paper book related to orders\nrelating to litigation of land and found that there is no doubt that, the\nlitigation was there with regard to the impugned land. We also gone\nthrough the page nos.40 to 43 of the paper book, wherein, MOU has\nbeen executed by the assessee with the litigants and found that the\nassessee

JANAPRIYA ENGINEERS SYNDICATE LIMITED (FORMERLY KNOWN AS JANAPRIYA ENGINEERS SYNDICATE PVT. LTD.),HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

housing project 'Kumar Padmalaya' which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata

THE DCIT, CENTRAL CIRCLE - 2, HYDERABAD vs. M/S. ENGINEERS REDDY P. LTD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

housing project 'Kumar Padmalaya' which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata

THE DCIT, CENTRAL CIRCLE - 2, HYDERABAD vs. M/S. ENGINEERS REDDY P. LTD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

housing project 'Kumar Padmalaya' which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata

DCIT, CENTRAL CIRCLE-1(2), HYDERABAD, HYDERABAD vs. JANAPRIYA ENGINEERS SYNDICATE LIMITED, HYDERABAD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

housing project 'Kumar Padmalaya' which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata

DCIT, CENTRAL CIRCLE-1(2), HYDERABAD, HYDERABAD vs. JANAPRIYA ENGINEERS SYNDICATE LIMITED, HYDERABAD, HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

housing project 'Kumar Padmalaya' which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata

JANAPRIYA ENGINEERS SYNDICATE LIMITED (FORMERLY KNOWN AS JANAPRIYA ENGINEERS SYNDICATE PVT. LTD.),HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), HYDERABAD

In the result, appeals of the assessee in ITA Nos

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

housing project 'Kumar Padmalaya' which have complied with the conditions laid down in section 80IB(10) of the Act. In other words, the AO cannot reject the claim of deduction u/s.80IB(10) of the entire project for non-completion of the few buildings. We therefore set aside the order of Ld.CIT(A) and direct the AO to allow pro-rata

ANITHA BOBBA,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri A. Mohan Alankamonyassessment Year: 2008-09 Smt. Bobba Anitha, Vs. Acit, Hyderabad. Circle-6(1), Pan: Bivpb 4181 K Hyderabad. (Appellant) (Respondent) Assessee By: Shri V. Siva Kumar Revenue By: Shri N. Srikanth, Dr Date Of Hearing: 12/01/2021 Date Of Pronouncement: 04/02/2021 Order Per A. Mohan Alankamony, Am.:

37,000/- and purchased of another residential house in the name of her husband for Rs. 92,00,000/- on 7/5/2007. It was further submitted that since she had invested more than the sale consideration received with respect to the sale of her erstwhile residential house property towards the purchase of another residential house within the stipulated period

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

GARIKAPATI RAGHURAM, HYDERABAD,HYDERABAD vs. DCIT, INTERNATIONAL TAXATION, HYDERABAD, HYDERABAD

Appeal is dismissed and additional ground No

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

37,449 - Rs.2,05,516) ie., Rs.5,31,933/- is taken for levy of penalty u/s.271(1)(c) of the I.T. Act. The income tax on this amount is Rs.1,59,579/-. In view of the explanation 1 of Section 271(1)(c) of the I.T. Act, the appellant is liable for penalty on this amount. It is seen that

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

10. The learned Counsel for the assessee strongly challenged the order of the ld.CIT(A) in confirming the denial of deduction u/s. 54F of the I.T.Act. He submitted that the assessee has conclusively proved that the property situated at Sai Praveen Kuteer(S.No.2), Flats at Sai Lakshmi Nilayam being Flats No, 1,4 & 204 and the Flat at Swastik

LAKSHMI SHANKAR GUMUDAVELLI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-17(4), HYDERABAD

In the result, ITA No. 144/Hyd/2020 filed by the assessee is allowed, whereas ITA No

Bench: Shri Rama Kanta Panda

37(1) and hence no deduction of expenditure could be claimed under section 57(iii) unless it was productive of income in the assessment year in question. This contention of the Revenue undoubtedly found favour with two High Courts but we do not think we can accept it. Our reasons for saying so are as follows. 4.What section

LAKSHMI SHANKAR GUMUDAVELLI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-17(4) , HYDERABAD

In the result, ITA No. 144/Hyd/2020 filed by the assessee is allowed, whereas ITA No

Bench: Shri Rama Kanta Panda

37(1) and hence no deduction of expenditure could be claimed under section 57(iii) unless it was productive of income in the assessment year in question. This contention of the Revenue undoubtedly found favour with two High Courts but we do not think we can accept it. Our reasons for saying so are as follows. 4.What section

SIVAPOTHULURU VEERAREDDY GADLURU, HYDERABAD,HYDERABAD vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-2(2), HYDERABAD

Appeals are treated as allowed for statistical purposes in above terms

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

House Property Rs. 10,92,938/- Capital Gains Rs. 21,59,554/- Income from Other Sources Rs. 21,710/- Gross Total Income Rs. 45,60,602/- :- 3 -: ITA Nos. 1685 & 1686/Hyd/2017 4.0. The long term capital gain admitted by the assessee was offered on the sale of his share of property of land admeasuring Ac 4.14 Gts (which the assessee

SIVA SHANKER REDDY GANDLURU, HYDERABAD,HYDERABAD vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-2(2), HYDERABAD

Appeals are treated as allowed for statistical purposes in above terms

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

House Property Rs. 10,92,938/- Capital Gains Rs. 21,59,554/- Income from Other Sources Rs. 21,710/- Gross Total Income Rs. 45,60,602/- :- 3 -: ITA Nos. 1685 & 1686/Hyd/2017 4.0. The long term capital gain admitted by the assessee was offered on the sale of his share of property of land admeasuring Ac 4.14 Gts (which the assessee