KAVERI INFRA PROJECT PVT LTD,WARANGAL vs. DCIT, CENTRAL CIRCLE -1(3), HYDERABAD

In the result, the appeal of assessee in ITA

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

271 of the 1961 Act in favour of the assessee. However, what needs to be noted is that the stated penalty proceedings were the outcome of the assessment order in question concerning assessment year 1998-1999. Indeed, at the time of assessment, the appellant/assessee had failed to produce any explanation or evidence in support of the entries regarding purchases made

S A BUILDERS & DEVELOPERS ,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX ,CENTRAL CIRCLE-1(2) , HYDERABAD

In the result, Ground Nos

bogus and that the department has no case to disbelieve the credits in the\nbooks by way of advances. It is also stated in the reply that all the above persons are\nabsconding because of a criminal case instituted against them due to which confirmation\nletters could not be procured and the lapse in this regard is due to impossibility

ASSISTANT COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-2(1) , HYDERABAD vs. S A BUILDERS AND DEVELOPERS , HYDERABAD

The appeals of the Revenue are dismissed

bogus and that the department has no case to disbelieve the credits in the\nbooks by way of advances. It is also stated in the reply that all the above persons are\nabsconding because of a criminal case instituted against them due to which confirmation\nletters could not be procured and the lapse in this regard is due to impossibility

ADARSH GLOBAL TRADES AND SERVICES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE - 2(3) , HYDERABAD

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

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2016-17 Adarsh Global Trades & Vs. The Assistant Commissioner Of Income Tax, Services Private Limited, Central Circle – 2(3), Hyderabad. Hyderabad. Pan : Aakca7278H. (Appellant) (Respondent) Assessee By: None Revenue By: Shri Sesha Srinivas, Cit-Dr 04.03.2024 Date Of Hearing: Date Of Pronouncement: 06.03.2024

bogus purchases as alleged. 5. The NFAC and the NFAC erred in treating the creditors as non- genuine for the mere reason that few details, including balance confirmation were not furnished at a short notice. 6. The NFAC and the NFAC failed to state the specific provisions of the Act under which addition

DEEPAK NAGORI ,HYDERABAD vs. INCOME TAX OFFICER, WARD-8(3), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year:2012-13 Shri Deepak Nagori Vs. Income Tax Officer Hyderabad Ward 8(3) Hyderabad (Appellant) (Respondent) Pan:Abspn3300M Assessee By: None Revenue By: Shri K. Madhusudan, Cit(Dr) Date Of Hearing: 07/12/2023 Date Of Pronouncement: 12/12/2023 Order Per Laliet Kumar, J.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 28.05.2018 Of The Learned Cit (A)-2, Hyderabad Relating To A.Y.2012-13. 2. The Grounds Raised By The Assessee Reads As Under: “1. That The Appellant Is An Individual & Filed His Income Tax Return (Tr) For Fy 2011-12 By Declaring Income Of Rs.5,82,686/-. The Itr Includes Long Term Capital Gains Of Rs.23,08,721/- & Claimed Exemption Under Section 10(38) Of It Act 1961. Notices Issued Under Section 148 & Notice Under Section 142(1) Of The Income Tax Act, 1961. The Ld. Ao Passed The Assessment Order Under Section 143(3) R.W.S. 147 Of The I.T Act, 1961 & The Same Was Upheld By Ld. Cit(A).

bogus entries of LTCG amounting to several crores from 2010 to 2014. ii. The result of the enquiry was also shared with SEBI and the SEBI after investigating 11 cases have found the allegation to be correct. The remaining cases are still being investigated by SEBI. iii. TOP 25 groups under each investigation directorate of the country were confronted

REEMA AGARWAL,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, appeal of the Assessee is allowed

Penalty proceedings u/s 271(1)(c) of the I.T. Act\n1961 are initiated for concealment of income.\n(Disallowance: Rs 6,41,12,159/-)\n6.1.\nThus, it is clear that the Assessing Officer has\nproceeded by taking the book value of these two scrips as on\n31.03.2013 and 31.03.2014 prior and post-split of shares. It\nis pertinent to note

VIKAS KUMAR AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

NAGESWARA RAO PINNETI,HYDERABAD vs. ACIT CENTRAL CIRCLE-1(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

NARESH KUMAR AGARWAL ,SECUNDERABAD vs. INCOME TAX OFFICER, WARD-10(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

SUMEET KUMAR AGARWAL ,SECUNDERABAD vs. INCOME TAX OFFICER, WARD-10(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

SAROJ AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

GOVINDA KUMAR AGARWAL,HYDEABAD vs. INCOME TAX OFFICER, WARD-4(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

ABHISHEK AGARWAL,HYDERABAD vs. INCOME TAX OFFICER, WARD-16(2), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

GOVIND KUMAR AGARWAL ,HYDERABAD vs. INCOME TAX OFFICER, WARD-4(5), HYDERABAD

In the result, all the appeals filed by the assessee are dismissed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumars.No Ita No Assessee Revenue A.Y 1 125/Hyd/2020 Shri Govind Kumar Income Tax 2015-16 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 2 1940/Hyd/2018 Shri Govind Kumar Income Tax 2014-15 Agarwal, Hyderabad Officer Ward 4(2) Pan:Aempa6821K Hyderabad 3 1941/Hyd/2018 Shri Naresh Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8519L 4 1942/Hyd/2018 Shri Sumeet Kumar Income Tax 2015-16 Agarwal, Officer Ward Secunderabad 10(2) Hyderabad Pan:Adhpa8516F 5 704/Hyd/2019 Smt. Saroj Agarwal, Income Tax 2015-16 Hyderabad Officer Ward 4(2) Pan:Adhpa8513A Hyderabad 6 705/Hyd/2019 Shri Vikas Kumar Income Tax 2015-16 Agarwal Hyderabad Officer Ward Pan:Adhpa8515G 4(2)Hyderabad 7 89/Hyd/2022 Shri Nageswara Rao Acit, Central 2015-15 Pinneti, Hyderabad Circle 1(2) Pan:Acupp6464D Hyderabad 8 167/Hyd/2018 Shri Abhishek Income Tax 2014-15 Agarwal, Hyderabad Officer Pan:Adypa7514N Ward 16(2) Hyderabad Assessee By: Shri K.A. Sai Prasad, Ca (S.No.1 To 6), Shri P. Vinod, Advocate (S.No.7) & Shri S. Rama Rao, Advocate (S.No.8) Revenue By: Shri Ch V Gopinath, Cit(Dr)

penalty proceedings u/s 271(1)(c) of the Act. ITA No.1941/Hyd/2018 filed by the assessee Shri Naresh Kumar Agarwal is directed against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad relating to A.Y 2015-16. ITA No.1942/Hyd/2018 filed by the assessee Shri Sumeet Kumar Agarwal against the order dated 17.05.2018 of the learned CIT (A)-6 Hyderabad

JITENDER KUMAR GUPTA,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2012-13 Sri Jitender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aappg6606B Assessment Year: 2013-14 Sri Virender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aaspg1887D Assessee By: Shri K.C. Devdas, Ca Revenue By: Smt. T.H. Vijaya Lakshmi, Cit(Dr) Date Of Hearing: 25/09/2023 Date Of Pronouncement: 17/10/2023 Order Per Laliet Kumar, J.M These Are The Two Connected Appeals Filed By The Respective Assessees Are Directed Against The Common Order Dated 27.07.2022 Of The Learned Cit (A)-11, Hyderabad Relating To A.Ys. 2012-13 & 2013-14 Respectively. Since Identical Grounds Have Been Taken By The Assessees In Both These Appeals, Therefore, For Page 1 Of 23

penalty proceedings u/s 271(1)(c) for furnishing inaccurate particulars of income. 5. In appeal, the learned CIT (A) upheld the action of the Assessing Officer by observing as under: Page 3 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar Gupta & Virender Kumar Gupta Page 4 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar

ACIT, CENTRAL CIRCLE-3(1), HYDERABAD vs. VIRENDER KUMAR GUPTA, HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumarassessment Year: 2012-13 Sri Jitender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aappg6606B Assessment Year: 2013-14 Sri Virender Kumar Gupta Vs. A.C.I.T Hyderabad Central Circle 3(1) Hyderabad (Appellant) (Respondent) Pan:Aaspg1887D Assessee By: Shri K.C. Devdas, Ca Revenue By: Smt. T.H. Vijaya Lakshmi, Cit(Dr) Date Of Hearing: 25/09/2023 Date Of Pronouncement: 17/10/2023 Order Per Laliet Kumar, J.M These Are The Two Connected Appeals Filed By The Respective Assessees Are Directed Against The Common Order Dated 27.07.2022 Of The Learned Cit (A)-11, Hyderabad Relating To A.Ys. 2012-13 & 2013-14 Respectively. Since Identical Grounds Have Been Taken By The Assessees In Both These Appeals, Therefore, For Page 1 Of 23

penalty proceedings u/s 271(1)(c) for furnishing inaccurate particulars of income. 5. In appeal, the learned CIT (A) upheld the action of the Assessing Officer by observing as under: Page 3 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar Gupta & Virender Kumar Gupta Page 4 of 23 ITA Nos 507 and 508 of 2022 Jitender Kumar

TARUN KUMAR GOYAL (HUF) ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Manjunatha. G & Shri K. Narasimha Chary

purchased by the assessee were pertaining to M/s Kailash Auto Finance Limited and the transac"ons for the same were carried through banking channels. The main plank of conten"on of assessee before us is that the learned Assessing Officer and the learned CIT(A) relied on the interim order of SEBI passed on 29/03/2016. Both the authori"es below

TARUN KUMAR GOYAL (HUF),HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(2), HYDERABAD

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Manjunatha. G & Shri K. Narasimha Chary

purchased by the assessee were pertaining to M/s Kailash Auto Finance Limited and the transac"ons for the same were carried through banking channels. The main plank of conten"on of assessee before us is that the learned Assessing Officer and the learned CIT(A) relied on the interim order of SEBI passed on 29/03/2016. Both the authori"es below