ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD vs. B.RAMALINGA RAJU, HYDERABAD

In the result, the appeal of Revenue in ITA No

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

160/- from Salary & Other Sources. The original assessment u/s 143(3) was completed on 04.03.2005. Later, the case was reopened under section 147 of the Act and a reassessment order u/s 143(3) r.w.s. 147 was passed on 21.07.2010. On review, the CIT(C) found that key issues, including diversion of funds and the opening balance of the suspense account

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

In the result, appeal of the Assessee is allowed

160 taxmann.com 567 (Orissa-HC);\niii. Order of ITAT, Kolkata Bench in the case of Chandra\nPrakash Jhunjhunwala, Kolkata vs. DCIT, CC-3(4),\nKolkata in ITA.No.2351/Kol./2017, Dated 09.08.2019;\niv. Order of ITAT, Kolkata Bench in the case of M/s.\nNicholson Vanijya Pvt. Ltd., C/o. RSVPC & Company vs.\nvs. ITO, Ward-1(2), Kolkata in ITA.No.1856/Kol./2018

SKANDA BUILDERS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

160/-. Notices u/s 143(2) and 142(1)\nwere issued with a detailed questionnaire and responses were submitted by the\nassessee's authorized reproduced.\n\nThe Assessment Order is reproduced in Para 4 above. In the\nAssessment order, the AO observed that:\ni)\nDuring the search action documents such as agreements, cash\nreceipts, and monthly collection sheets were seized, which

SURESH KUMAR REDDY KRISHNAPURAM,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

Penalty u/s.270A of the Act is initiated separately for non-reporting of income.\n\n9. Aggrieved by the assessment order, the assessee preferred appeal before the learned CIT(A). Before the learned CIT(A), the assessee challenged the rejection of books of accounts and estimation of 14% profit on disclosed\n\nturnover and also estimation of 18% profit on suppressed

MRL TRADING COMPANY,HYDERABAD vs. ITO., WARD-7(1), HYDERABAD

In the result, appeal of the Assessee is allowed

271 1,350\n8,132\n12,46,470\n16\n22,141 6,186 1,743\n3,319\n25,91,450\n17\n20,527 2,586 965\n4,416\n22,45,460\n18\n14,514 2,338 880\n5,104\n4\n16,36,960\n19 138\n4,329 1,548 1,160