CHINTALAPATI HOLDINGS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD

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

house property is concerned, learned CIT(A) directed the learned Assessing Officer to allow the deduction under section 24(b) of the Income Tax Act, 1961 (‘the Act’) on the assessee furnishing the relevant figure of interest. 9. Coming to the treatment of profits from money lending under the head ‘income from other sources’ by the learned Assessing Officer

BALA REDDY GOPU, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD, HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri D. Manmohan & Shri S. Rifaur Rahman

section 14A cannot be invoked without proper satisfaction recorded by the AO. For this proposition, he relied on the decision in the case of Reliance Capital. He also submitted that CIT(A) has enhanced the addition to the extent of Rs. 35,13,391/- by observing that the expenditure disallowable u/s 14A of the Act is more than the expenditure

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 :

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

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

section 14A, expenditure incurred in relation to income which does not form part of total income shall be disallowed and also referring to the CBDT Circular No. 5/2014, dated 11/02/2014, the AO computed the disallowance u/s 14A at Rs. 13,51,57,665/- and added to the income returned by the assessee. He, accordingly, assessed the gross total income

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

section 14A, expenditure incurred in relation to income which does not form part of total income shall be disallowed and also referring to the CBDT Circular No. 5/2014, dated 11/02/2014, the AO computed the disallowance u/s 14A at Rs. 13,51,57,665/- and added to the income returned by the assessee. He, accordingly, assessed the gross total income

KISHORE MURALIDHAR AGARWAL, HYDERABAD,SECUNDERABAD vs. ITO, WARD-10(3), HYDERABAD, HYDERABAD

In the result, both the appeals of the assessee are dismissed

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

house property, income from salary, income from business being share income from partnership firm M/s Sri Durga Traders and income from other sources being dividend received from various persons/concerns. The share income from partnership firm and the dividend received were claimed as exempt. In the computation of income, assessee claimed loss on account of interest paid to the tune

KISHORE MURALIDHAR AGARWAL, SEC'BAD,SECUNDERABAD vs. ITO, WARD-10(4), HYDERABAD, HYDERABAD

In the result, both the appeals of the assessee are dismissed

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

house property, income from salary, income from business being share income from partnership firm M/s Sri Durga Traders and income from other sources being dividend received from various persons/concerns. The share income from partnership firm and the dividend received were claimed as exempt. In the computation of income, assessee claimed loss on account of interest paid to the tune

SHANTA SRIRAM CONSTRUCTIONS PVT.LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-3(1), HYDERABAD, HYDERABAD

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

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12 Shanta Sriram Constructions Vs The Deputy Commissioner Private Limited, Of Income Tax, Hyderabad. Circle 3(1), Hyderabad. Pan : Aadcs4180M. (Appellant) (Respondent) Assessee By: Sri S. Ramarao Revenue By: Sri K.P.R.R. Murthy. Date Of Hearing: 21.07.2022 Date Of Pronouncement: 22.07.2022

14A and 131 of the Act, income from house property and on account of interest income. 4. Feeling aggrieved with the order of Assessing Officer, assessee carried the matter before ld.CIT(A), who partly allowed the appeal of the assessee. Page 2 of 9 5. Feeling aggrieved with the order of ld.CIT(A), assessee is in now in appeal before

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

In the result, appeal of the assessee is partly allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2014-15 Nsl Renewable Power Pvt. Vs. Asst. Commissioner Of Ltd., Hyderabad. Income-Tax, Circle – 16(1), Pan – Aabcn 6009L Hyderabad. (Appellant) (Respondent) Assessee By: Shri Aliasgar Rampurwala Revenue By: Shri Rajendra Kumar Date Of Hearing: 16/12/2021 Date Of Pronouncement: 04/01/2022

14A of the Act while computing book profits under section 115JB of the Act and hence, the assessment order cannot be treated as erroneous and / or prejudicial to the interest of the revenue The above grounds of appeal are without prejudice to each other. The appellant craves leaves to add to and/or alter, amend, rescind, modify the grounds herein above

VIVIMED LABS LIMITED,HYDERABAD vs. 500082 ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(3), HYDERABAD

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

houses in the State. The aforesaid object is clear and unequivocal. The object of the grant of the subsidy was in order that persons come forward to construct Multiplex Theatre Complexes, the idea being that exemption from entertainment duty for a period of three years and partial remission for a period of two years should go towards helping the industry

VIVIMED LABS LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX , HYDERABAD

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

houses in the State. The aforesaid object is clear and unequivocal. The object of the grant of the subsidy was in order that persons come forward to construct Multiplex Theatre Complexes, the idea being that exemption from entertainment duty for a period of three years and partial remission for a period of two years should go towards helping the industry

VIVIMED LABS LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(3), HYDERABAD

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

houses in the State. The aforesaid object is clear and unequivocal. The object of the grant of the subsidy was in order that persons come forward to construct Multiplex Theatre Complexes, the idea being that exemption from entertainment duty for a period of three years and partial remission for a period of two years should go towards helping the industry

VIVIMED LABS LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX 2(3), HYDERABAD

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

houses in the State. The aforesaid object is clear and unequivocal. The object of the grant of the subsidy was in order that persons come forward to construct Multiplex Theatre Complexes, the idea being that exemption from entertainment duty for a period of three years and partial remission for a period of two years should go towards helping the industry

KAPIL INFRA AVENUES PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

14A of the Act. 27. The assessee preferred a further appeal before the Tribunal. The ITAT, Hyderabad Bench vide its common order in ITA No.686/Hyd/2020 dated 21-03-2022, set aside the issue to the file of the AO for fresh examination. The assessee filed an appeal before the Hon'ble High Court of Telangana, and the Hon'ble High

KAPIL PROPERTY DEVELOPERS LIMITED ,HANUMAKONDA vs. DY COMMISSIONER OF INCOME TAX , HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

14A of the Act. 27. The assessee preferred a further appeal before the Tribunal. The ITAT, Hyderabad Bench vide its common order in ITA No.686/Hyd/2020 dated 21-03-2022, set aside the issue to the file of the AO for fresh examination. The assessee filed an appeal before the Hon'ble High Court of Telangana, and the Hon'ble High

KAPIL FOOD AND STRUCTURE PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

14A of the Act. 27. The assessee preferred a further appeal before the Tribunal. The ITAT, Hyderabad Bench vide its common order in ITA No.686/Hyd/2020 dated 21-03-2022, set aside the issue to the file of the AO for fresh examination. The assessee filed an appeal before the Hon'ble High Court of Telangana, and the Hon'ble High

JT. COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRLCE-1(4), HYDERABAD vs. MEDHA SERVO DRIVES PRIVATE LIMITED, HYDERABAD

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

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

houses in the State on the consideration that the Industry is very capital incentive and thus the said case is distinguishable on facts. CO No. 23/H/2018 Medha Servo Drives Pvt. Ltd.,, Hyd. v) Whether on the facts and circumstances of the case and in law, the ld. CIT(A) failed to appreciate the spirit of the decision of Supreme Court

JT. COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRLCE-1(4), HYDERABAD vs. MEDHA SERVO DRIVES PRIVATE LIMITED, HYDERABAD

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

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

houses in the State on the consideration that the Industry is very capital incentive and thus the said case is distinguishable on facts. CO No. 23/H/2018 Medha Servo Drives Pvt. Ltd.,, Hyd. v) Whether on the facts and circumstances of the case and in law, the ld. CIT(A) failed to appreciate the spirit of the decision of Supreme Court