SABIR, SEW 7 PRASAD JV,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-6(1), HYDERABAD

In the result, all the appeals of the assessee are allowed

house property', the assessee was eligible for\nclaiming deduction u/s.80IA(4)(iii) of the Act as ‘business income', for the\nreason that the assessee was merely engaged in developing and\nmaintaining infrastructural facilities which arose out of a project\napproved by the Government of India as an eligible project for claiming\ndeduction u/s.80IA(4)(iii) of the Act. Further

SABIR, SEW & PRASAD JV,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-6(1), HYDERABAD

In the result, all the appeals of the assessee are allowed

house property', the assessee was eligible for\nclaiming deduction u/s.80IA(4)(iii) of the Act as ‘business income', for the\nreason that the assessee was merely engaged in developing and\nmaintaining infrastructural facilities which arose out of a project\napproved by the Government of India as an eligible project for claiming\ndeduction u/s.80IA(4)(iii) of the Act. Further

SABIR , SEW & PRASAD JV,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-6(1), HYDERABAD

In the result, all the appeals of the assessee are allowed

194C is applicable to\npayments made by broadcasting and telecasting companies\n(including production of programs for broadcasting or telecasting)\nto advertising agencies and payments by advertising agencies to\nmedia owners (such as Doordarshan, newspapers, etc.) and it can\nnot be extended the activities of the assessee.\n14. It was submitted that after the issuance of the circular, the\nAct

RAJENDER REDDY GUNNA ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-6, HYDERABAD

house property and also explained the\nsource out of funds received from HUF and amount paid by\nhis wife and mother. However, could not file any evidence to\njustify his case. Therefore, the Assessing Officer has made\nthe addition towards unexplained investment in house\nproperty and the learned CIT(A) after considering the\nrelevant facts, has rightly sustained the addition

PRATHIMA INFRASTRUCTURE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE - 2(4), HYDERABAD

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

Bench: Shri Manjunatha G. Hon’Ble & Shri K. Narasimha Chary, Hon’Bleassessment Year – 2017-18 Prathima Infrastructure Limited, Vs. The Assistant Commissioner Of Income Tax, Filmnagar, Central Circle – 2(4), Hyderabad. Hyderabad. Pan : Aabcp2098P. (Respondent) (Appellant) Assessee By: Shri K.C.Devdas, Ca Revenue By: Shri B. Bala Krishna, Cit-Dr Date Of Hearing: 10.10.2024 Date Of Pronouncement: 27.11.2024

property developer. The assessee filed its return of income for A.Y 2017-18 on 31-10-2017, declaring total income of Rs. 15,22,62,650/-, after claiming deduction under Section 80IA(4) of the Income Tax Act, 1961, amounting to Rs. 51,05,42,952/-. The case was selected for scrutiny, and during the course of assessment proceedings

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

house property for\nRs.9,08,650/-\n41. During the course of search proceeding, it is\nnoticed that, Mr. Krishna Chandra, son of the assessee had\nmade an investment for purchase of residential Flat-404, 5th\nFloor, Subhalaxmi Apartments, Green Hills Colony,\nKothapet, Hyderabad in January 2005. The assessee was\nasked to clarify the source for such investment and in\nresponse

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

house property for\nRs.9,08,650/-.\n41.\nDuring the course of search proceeding, it is\nnoticed that, Mr. Krishna Chandra, son of the assessee had\nmade an investment for purchase of residential Flat-404, 5th\nFloor, Subhalaxmi Apartments, Green Hills Colony,\nKothapet, Hyderabad in January 2005. The assessee was\nasked to clarify the source for such investment and in\nresponse

RAJENDER REDDY GUNNA ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6, HYDERABAD

In the result, appeal ITA

house property for\nRs.9,08,650/-\n41.\nDuring the course of search proceeding, it is\nnoticed that, Mr. Krishna Chandra, son of the assessee had\nmade an investment for purchase of residential Flat-404, 5th\nFloor, Subhalaxmi Apartments, Green Hills Colony,\nKothapet, Hyderabad in January 2005. The assessee was\nasked to clarify the source for such investment and in\nresponse