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

House Property’ ie., Rs.2,05,516/-. The difference between these two figures (Rs.7,37,449 - 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

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

house on the date of transfer process of the long term asset, the request of tax exemption on capital gain is not valid. Since the case of the assessee in the instant case is hit by the proviso (a)(i) of section 54F of the I.T. Act, therefore, the assessee is not entitled to get the benefit of deduction

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 property” of Rs.13,63,103/- and “Income from NSL Renewable Power Pvt. Ltd., Hyd. other sources” of Rs.18,53,35,645/-, and arrived at the gross total income of Rs.17,56,90,533 /- before applying provisions of Chapter VIA of the Act. 31. Further, the assessee has claimed deduction under Chapter VIA of the Act i.e., under section 80IA

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 property” of Rs.13,63,103/- and “Income from NSL Renewable Power Pvt. Ltd., Hyd. other sources” of Rs.18,53,35,645/-, and arrived at the gross total income of Rs.17,56,90,533 /- before applying provisions of Chapter VIA of the Act. 31. Further, the assessee has claimed deduction under Chapter VIA of the Act i.e., under section 80IA

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

ALLCARGO GATI LIMITED(FORMALLY KNOWN AS GATI LIMITED),HYDERABAD vs. ACIT,CIRCLE-2(2) HYDERABAD, HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

37 of the Act. Now coming to the decision of co-ordinate Bench of the Tribunal, the spending of amount towards capital expenditure was not the subject matter of earlier proceedings and has not been examined by the co-ordinate Bench of the Tribunal. Therefore, we are of the opinion that the decision is not applicable to the facts

ALLCARGO GATI LIMITED(FORMALLY KNOWN AS GATI LIMITED),HYDERABAD vs. ITO, WARD-2(2), HYD, HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

37 of the Act. Now coming to the decision of co-ordinate Bench of the Tribunal, the spending of amount towards capital expenditure was not the subject matter of earlier proceedings and has not been examined by the co-ordinate Bench of the Tribunal. Therefore, we are of the opinion that the decision is not applicable to the facts

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' offered by the Appellant. Thereafter, the Ld AO., after discussing and verifying the eligibility of the deduction u/s 80-IA(4)(iii) of the Act allowed a deduction under that section to the extent of Rs 13,67,23,850. The matter pertaining to head of taxation of the Income from leasing activities was then subject to litigation

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

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

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

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

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

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

37 of the Wealth-tax Act, 1957 (27 of 1957), shall, with necessary modification, apply in relation to such reference as they apply in relation to a reference made by the Assessing Officer under sub-section (1) of section 16A of the Act. :- 11 -: ITA Nos. 1685 & 1686/Hyd/2017 Explanation. -For the purposes of this section, "Valuation Officer” shall have

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

37 of the Wealth-tax Act, 1957 (27 of 1957), shall, with necessary modification, apply in relation to such reference as they apply in relation to a reference made by the Assessing Officer under sub-section (1) of section 16A of the Act. :- 11 -: ITA Nos. 1685 & 1686/Hyd/2017 Explanation. -For the purposes of this section, "Valuation Officer” shall have

MAHMOOD HUSSAIN SYED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON'BLE (Accountant Member)

house property for Rs. 5,39,579/- and addition of Rs. 2,37,92,244/- towards difference in capital account of the proprietor, addition of Rs. 97,76,424/- under the head ‘income from capital gains’ towards difference between sale consideration as per the registered sale deed and fair market value of the property, as per the provisions of Section

SURENDER KUMAR BHOJWANI,HYDERABAD vs. ITO, INTL. TAXTION -1, HYDERABAD

In the result, the appeal filed by the assessee is allowed for statistical purposes in terms of our aforesaid observations

37. The principle laid down by this Court in V. Jaganmohan Rao's case (supra) therefore, is only to the extent that once an assessment is validly reopened by issuance of notice under section 32(2) of the 1922 Act (corresponding to section 148 of the 1961 Act), the previous under-assessment is set aside

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. SARAT GOPAL BOPPANA, HYDERABAD

In the result, the appeal filed by the Revenue is dismissed

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

house property and income from other sources and does not have income from business or profession. Therefore, the income declared by the assessee under the head income from other sources and assessed by the Assessing Officer as unexplained investment u/s 69A of the Act and taxing u/s 115BBE of the Act needs to be examined in light of the above

ACIT, CENTRAL CIRCLE-2(3), HYDERABAD vs. TARA CHAND BOPPANA, HYDERABAD

In the result, the appeal filed by the Revenue is dismissed

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

house property and income from other sources and does not have income from business or profession. Therefore, the income declared by the assessee under the head income from other sources and assessed by the Assessing Officer as unexplained investment u/s 69A of the Act and taxing u/s 115BBE of the Act needs to be examined in light of the above