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”, “Capital gains”, and “Income from other sources”, in the guise of claiming deduction towards profits/income derived from eligible business, leading to double deduction, i.e., firstly, by way of total exemption from tax and secondly, by claiming deduction of the same amount against income from other heads of income. 10. On the other hand, as seen from the language

IMPACT METALAS LIMITED, MEDAK DIST.,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD, HYDERABAD

In the result, assessee’s appeal is partly allowed

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmanm/S. Impact Metals Ltd Vs Dy. Commissioner Of Income Medak Tax, Circle 2(1) Pan: Aaaci4546A Hyderabad (Appellant) (Respondent)

section 22 of the I.T. Act, the income received on the building and land appurtenant thereto, is to be treated as “income from house property”. Therefore, the AO treated it as income from house property and observing that only the expenditure mentioned u/s 24 is to be allowed, the AO observed that the interest portion of Rs.16

GRANDEUR HOMES PVT. LTD., SECUNDERABAD,HYDERABAD vs. ACIT, CIRCLE-2(2), HYDERABAD, HYDERABAD

In the result, assessee’s appeal is treated as allowed for statistical purposes

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmangrandeur Homes P Ltd Vs Asstt. Commissioner Of Secunderabad Income Tax, Circle 2(2) Pan: Aaccg7612F Hyderabad (Appellant) (Respondent)

73,118/- derived respectively from the Housing Projects Splendour (Gajularamamaram) and Emerald Heights (Ghanapur). The assessee was asked to produce the copy of the project lay out and completion certificates etc. In response to the same, the assessee furnished the approval letters and on perusal of the same, the AO observed that the housing project Emerald Heights was approved

MANOJ KUMAR CHOWRAH,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(1), HYDERABAD

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

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 69A of the Income-tax Act, 1961 as unexplained money. The A.O. had also made addition of Rs. 61,44,000/- towards unexplained investment for failure of the assessee to explain source for purchase of the property. Similarly, the A.O. further 4 Manoj Kumar Chowrah observed that, the assessee has computed short term capital gain from sale of property

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:

73,00,000/- representing the premium charged by these companies from M/s. Cornerstone Properties and Investments (P) Ltd, but benefit was given to the assessee for not charging any premium and assessed u/s 28(iv) of the I.T. Act, 1961. 5. The assessee challenged the action of the Assessing Officer before the learned CIT (A) and raised objection including

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

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

DY. COMMISSIONER OF INCOME TAX , CIRCLE-6(1), HYDERABAD vs. IQBAL ALI KHAN , HYDERABAD

In the result, appeal filed by the Revenue is allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarआ.अपी.सं /Ita No.505 /Hyd/2020 (िनधा"रण वष" / Assessment Year: 2013-14) Asstt. Cit Vs. Shri Iqbal Ali Khan, Circle 6(1) Hyderabad Hyderabad Pan:Aalpi8951P (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Mohd. Afzal राज" व "ारा/Revenue By:: Smt. Sheetal Sarin, Dr सुनवाई की तारीख/Date Of Hearing: 09/01/2024 घोषणा की तारीख/Pronouncement: 12/01/2024

73,88,852/. The case was selected for scrutiny through CASS under section 143(2) and notice was issued on 04.09.2014 and the same was served on assessee. Further, notices u/s 142(1) have been issued from time to time calling for certain information, in response to which the A.R of the assessee appeared before the Assessing Officer from time

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha G, Hon’Bleआ.अपी.सं / Ita Nos.212 To 214/Hyd/2019 (निर्धारण वर्ष / Assessment Years: 2006-07, 2007-08 & 2008-09)

73,858/-, vide cancellation agreement dated 01.11.2006, the original agreement was cancelled with the NSC, Consortium and one more agreement dated 01.11.2006 was entered into with NSC Consortium, Sri Avanthika contractors & two of its constituents SEW and PRASAD for executing the balance project work in the ratio of 50%, 25%, 12.5% & 12.5% respectively. 7.26 Similarly, in the case of Gorakallu

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

73,858/-, vide cancellation agreement dated 01.11.2006, the original agreement was cancelled with the NSC, Consortium and one more agreement dated 01.11.2006 was entered into with NSC Consortium, Sri Avanthika contractors & two of its constituents SEW and PRASAD for executing the balance project work in the ratio of 50%, 25%, 12.5% & 12.5% respectively. 7.26 Similarly, in the case of Gorakallu

CELESTIAL AVENUES PVT LTD REP. BY CSK PROPERTIES PVT LTD ON MERGER-PAN-AADCC3990R,HYDERABAD. vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE -1(2), HYDERABAD.

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha G, Hon’Bleआ.अपी.सं / Ita Nos.212 To 214/Hyd/2019 (निर्धारण वर्ा / Assessment Years: 2006-07, 2007-08 & 2008-09) M/S. Sabir, Sew & The Deputy Commissioner Of Prasad, Jv, Vs. Income Tax, Hyderabad. Circle – 6(1), Hyderabad. Pan : Abcfs2425A अपीलार्थी / Appellant प्रत्‍यर्थी / Respondent

73,858/-, vide cancellation agreement dated 01.11.2006, the original agreement was cancelled with the NSC, Consortium and one more agreement dated 01.11.2006 was entered into with NSC Consortium, Sri Avanthika contractors & two of its constituents SEW and PRASAD for executing the balance project work in the ratio of 50%, 25%, 12.5% & 12.5% respectively. 7.26 Similarly, in the case of Gorakallu

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

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha G, Hon’Bleआ.अपी.सं / Ita Nos.212 To 214/Hyd/2019 (निर्धारण वर्ष / Assessment Years: 2006-07, 2007-08 & 2008-09)

73,858/-, vide cancellation agreement dated 01.11.2006, the original agreement was cancelled with the NSC, Consortium and one more agreement dated 01.11.2006 was entered into with NSC Consortium, Sri Avanthika contractors & two of its constituents SEW and PRASAD for executing the balance project work in the ratio of 50%, 25%, 12.5% & 12.5% respectively. 7.26 Similarly, in the case of Gorakallu

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

In the result, appeal ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

house property. Further, the assessee also could not be able to justify the amount received from his wife and mother. In absence of any evidence, the arguments of the assessee that, source for purchase of property, is out of amount received from HUF, mother and wife cannot be accepted. The Assessing Officer after considering the relevant facts, has rightly made

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED, HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

housing plots at "Haritavanam project". In such process, M/s Bhuvanesh Constructions and Developers collected the total receipts from sale of plots and transferred the same to the assessee company. The sale receipts admitted in the return of income by the assessee company in respect of Haritavanam Project for various years are as under: AY. 2014-15 AY. 2015-16 Total

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

housing plots at "Haritavanam project". In such process, M/s Bhuvanesh Constructions and Developers collected the total receipts from sale of plots and transferred the same to the assessee company. The sale receipts admitted in the return of income by the assessee company in respect of Haritavanam Project for various years are as under: AY. 2014-15 AY. 2015-16 Total

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

housing plots at "Haritavanam project". In such process, M/s Bhuvanesh Constructions and Developers collected the total receipts from sale of plots and transferred the same to the assessee company. The sale receipts admitted in the return of income by the assessee company in respect of Haritavanam Project for various years are as under: AY. 2014-15 AY. 2015-16 Total

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

housing plots at "Haritavanam project". In such process, M/s Bhuvanesh Constructions and Developers collected the total receipts from sale of plots and transferred the same to the assessee company. The sale receipts admitted in the return of income by the assessee company in respect of Haritavanam Project for various years are as under: AY. 2014-15 AY. 2015-16 Total

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED, HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

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

housing plots at "Haritavanam project". In such process, M/s Bhuvanesh Constructions and Developers collected the total receipts from sale of plots and transferred the same to the assessee company. The sale receipts admitted in the return of income by the assessee company in respect of Haritavanam Project for various years are as under: AY. 2014-15 AY. 2015-16 Total