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

The appeals of the Revenue are dismissed

penalty\nproceedings u/s 271(1)(c) of the Act are attracted for furnishing inaccurate particulars of\nincome.\nDisallowance: Rs.12,76,50,000/-\n26. Thus, the Assessing Officer noted that the assessee\nhas purchased the land from M/s. Neelanchal Roadways (P) Ltd\nand also shown as TDS payable of Rs.42,55,000/-. Since the\nassessee has not deposits this amount

INDRANI PRASAD ,NEW DELHI vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, HYDERABAD

In the result, the appeal is treated as allowed”

Bench: Shri A.M. Alankamony & Shri S.S. Godara

271 (l)(G), 271A and 2718. Section 158 BFA provides [or levy of interest and penalty in cases of search on .or after January 1, 1997. Section 158 BO specifies the authorities competent to make the block assessment. Section 158 BH provides for application of all the other provisions of this Act, except those as provided in Chapter

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. INDRANI PRASAD , NEW DELHI

In the result, the appeal is treated as allowed”

Bench: Shri A.M. Alankamony & Shri S.S. Godara

271 (l)(G), 271A and 2718. Section 158 BFA provides [or levy of interest and penalty in cases of search on .or after January 1, 1997. Section 158 BO specifies the authorities competent to make the block assessment. Section 158 BH provides for application of all the other provisions of this Act, except those as provided in Chapter

NANDAN CLEANTEC LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(3), HYDERABAD

In the result, appeals filed by the respective assessees are partly allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

197/-. Subsequently, a search and seizure action u/s 132 of the I.T. Act was conducted in the case of the assessee and its Directors Sri Moturi Srinivas Prasad and Shri Volam Bhaskar Rao on 20.09.2017. In response to notice u/s 153A of the Act issued on 10.05.2018, the assessee filed its return of income on 13.12.2018 declaring total income

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(3), HYDERABAD vs. REJUVENTING APPROACHES PRIVATE LIMITED , HYDERABAD

In the result, appeals filed by the respective assessees are partly allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

197/-. Subsequently, a search and seizure action u/s 132 of the I.T. Act was conducted in the case of the assessee and its Directors Sri Moturi Srinivas Prasad and Shri Volam Bhaskar Rao on 20.09.2017. In response to notice u/s 153A of the Act issued on 10.05.2018, the assessee filed its return of income on 13.12.2018 declaring total income

NANDAN CLEANTEC LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(3), HYDERABAD

In the result, appeals filed by the respective assessees are partly allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

197/-. Subsequently, a search and seizure action u/s 132 of the I.T. Act was conducted in the case of the assessee and its Directors Sri Moturi Srinivas Prasad and Shri Volam Bhaskar Rao on 20.09.2017. In response to notice u/s 153A of the Act issued on 10.05.2018, the assessee filed its return of income on 13.12.2018 declaring total income

NANDAN CLEANTEC LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(3), HYDERABAD

In the result, appeals filed by the respective assessees are partly allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

197/-. Subsequently, a search and seizure action u/s 132 of the I.T. Act was conducted in the case of the assessee and its Directors Sri Moturi Srinivas Prasad and Shri Volam Bhaskar Rao on 20.09.2017. In response to notice u/s 153A of the Act issued on 10.05.2018, the assessee filed its return of income on 13.12.2018 declaring total income

NANDAN CLEANTEC LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(3), HYDERABAD

In the result, appeals filed by the respective assessees are partly allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

197/-. Subsequently, a search and seizure action u/s 132 of the I.T. Act was conducted in the case of the assessee and its Directors Sri Moturi Srinivas Prasad and Shri Volam Bhaskar Rao on 20.09.2017. In response to notice u/s 153A of the Act issued on 10.05.2018, the assessee filed its return of income on 13.12.2018 declaring total income

M/S PRAGATHI GREEN MEADOWS & RESORTS PVT LTD.,,HYDERABAD vs. ACIT, CIRCLE 16(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

penalty proceedings u/s. 271(l) (c) are not to be initiated. 7. In this result, this appeal is allowed. 10. Aggrieved with such order of the learned CIT(A), the Revenue is in appeal before us by raising the following ground : “The learned CIT(A) erred in deleting the disallowance of interest on borrowed funds of Rs.66

ACIT,CIRCLE-16(3),, HYDERABAD vs. M/S PRAGATI GREEN MEADOWS AND RESORTS PRIVATE LIMITED,, HYDERABAD

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

penalty proceedings u/s. 271(l) (c) are not to be initiated. 7. In this result, this appeal is allowed. 10. Aggrieved with such order of the learned CIT(A), the Revenue is in appeal before us by raising the following ground : “The learned CIT(A) erred in deleting the disallowance of interest on borrowed funds of Rs.66

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

penalties. However, this argument fails to hold weight as during\n\nITA.Nos.514 to 539/Hyd./2025,\nAnd ITA.Nos.308 to 311/Hyd./2025.\n\n40\n\nthe search conducted under Section 132 of the Income Tax Act, the\nManaging Director and Tax Consultant of the appellant, made key\nadmissions acknowledging discrepancies in income reporting.\nThese admissions pertained to unrecorded cash transactions