SRI ADITYA HOMES PRIVATE LIMITED,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

1A) In a case where the relevant assessment or other order is the subject- matter of an appeal to the Commissioner (Appeals) under section 246 or section 246A or an appeal to the Appellate Tribunal under section 253 or an appeal to the High Court under section 260A or an appeal to the Supreme Court under section 261 or revision

DAGGUBATI VENKATESH,CHENNAI vs. DCIT., CENTRAL CIRCLE -1(2), HYDERABAD

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

u/s. 153A”. Learned Assessing Officer accepted the returned\nincome and by order dated 25/9/2021 passed under section 143(3) read with\nsection 153A of the Act he completed the assessment.\n3.\nLearned Assessing Officer, however, initiated penalty proceedings\nunder section 271(1)( c ) of the Act read with explanation 5A and concluded\nthe same by order dated 27/3/2022 with

RAJESWARA RAO ANNE,HYDERABAD vs. DCIT., CENTRAL CIRCLE-1(4), HYDERABAD

In the result, the appeal of the assessee is allowed

1A) of the Income Tax Act, (i) Ld CIT(A) also erred in\nlaw in not quashing the penalty levied on the basis of\nstereotyped show cause Notice issued u/s 271 read with\nsection 274 of the Income Tax Act which does not mention the\nspevific default committed by the appellant rendering the\nappellant liable to penalty under Income

SRINIVAS CHOWDARY VALLABHANENI,SECUNDERABAD vs. DCIT., CENTRAL CIRCLE-1(4), HYDERABAD

In the result, the appeal of the assessee is allowed

u/s\n271AAB(1A) of the Income Tax Act. (i) Ld CIT(A) also erred in\nlaw in not quashing the penalty levied on the basis of\nstereotyped Notice issued under section 271

ACIT-CENTRAL CIRCLE-2(4), HYDERABAD vs. INCREDIBLE INDIA PROJECTS PRIVATE LIMITED, SECUNDERABAD

In the result, appeal of the Revenue is dismissed

1A) can be\nlevied under clause (a) @ 30% and under clause (b) @ 60%\ndepending upon the default and charge against the\nassessee.\n(iii) Existence of 'undisclosed income' is a sine quo non for\nlevying such penalty. which is defined in explanation (c) to\nsection 271AAB.\nFrom the definition of 'undisclosed income it is evident that this\nexpression is given

ASWARTHANARAYANA VENKATA RENIGUNTLA,DHARMAVARAM vs. ITO, WARD-1, ANANTAPUR

In the result, the appeal of the assessee allowed

Bench: Shri Laliet Kumarassessment Year: 2017-18 Shri Aswarthanarayana Venkata Vs. Ito, Ward-1, Anantapur. Reniguntla, Dharmavaram, Andhra Pradesh. Pan : Alrpr5400R (Appellant) (Respondent) Assessee By: Sri M. Chandramouleswara Rao, Ca Revenue By: Sri A. Sitarama Rao. Date Of Hearing: 11.04.2023 Date Of Pronouncement: 11.04.2023

271 B of the Act for failure to comply with the provisions of section 44AB of the I.T. Act and directed the assessee to pay by way of penalty a sum of Rs. 84,316/- vide order under section 271B of the Income Tax Act, 1961, dated 11.01.2022. 4. Feeling aggrieved with the order of Assessing Officer, assessee filed

KISHAN KUMAR AGARWAL,SECUNDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Bench: Us:

1A) of the Act. Accordingly, the learned AR based on his aforesaid contention Page 7 of 13 ITA No 574 of 2023 Kishan Kumar Agarwal had tried to impress upon us that no penalty u/s 270A of the Act was called for in the hands of the assessee. 9. Per contra, the learned Departmental Representative (DR) submitted that as provisions

INCOME TAX OFFICER, WARD-1, CHITTOOR vs. G VIJAYASIMHA REDDY, BENGALURU

In the result, the appeal of Revenue in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

Penalty initiated separately proceedings Act, Proceedings u/s 271(1)(c) 1961. u/s 271(1)(c) are initiated The are initiated separately appeal is separately. allowed 2 Vishnu ACWPN3597R ACIT, Assessment Assessee filed No scrutiny No appeal Swaroop Reddy Circle-6, completed u/s 143(3) appeal assessment Narapareddy Hyd on 03.03.2016 against order making addition u/s 143(3). towards LONG

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

In the result, Ground Nos

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

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

KRISHNA HARI GADDAM,HYDERABAD vs. ITO., WARD-12(1), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdiaआ.अपी.सं/Ita No.668/Hyd/2023 (नििाारण वर्ा/Assessment Year: 2020-21) Krishna Hari Gaddam, Vs. Income Tax Officer, Hyderabad Ward-12(1), [Pan No. Adepg7798Q] Hyderabad अपीलार्थी/Appellant प्रत् यर्थी/Respondent नििााररती द्वारा/Assessee By: Shri H. Srinivasulu, Ar राजस् व द्वारा/Revenue By: Shri Shakeer Ahamed, Dr सुिवाई की तारीख/Date Of Hearing: 29/04/2024 घोर्णा की तारीख/Pronouncement On: 30/04/2024 आदेश / Order Per Madhusudan Sawdia, A.M: The Captioned Appeal Filed By The Assessee Is Directed Against The Order Dated 02/11/2023 Passed By The Addl/Jcit(A)-5, Chennai, (“Ld. Cit(A)”) Relating To The Assessment Year (Ay) 2020-21. 2. Brief Facts Of The Case Are That The Assessee Was A Salaried Employee Of Karvy Stock Broking Limited. For The Year Under Consideration, The Assessee Fled His Return Of Income, Declaring A Total Income Of Rs. 86,10,680/- & Paid Total Income Tax Of Rs. 27,37,674/-, Consisting Of Tax Deducted At Source (“Tds”) Of Rs. 15,11,384/- & Self Assessment Tax Of Rs.12,26,290/-. The Cpc Bengluru (“Cpc”) In The Intimation U/S 143(1) Of The Income Tax Act, 1961 (“The Act”), Dt. 08/05/2021 Did Not Give Credit Of Rs. 13,50,000/- Out Of Total Tds Of Rs. 14,75,000/- Deducted By M/S. Karvy Stock Broking Limited U/S. 192 Of The Act, Contending That Form 26As Does Contains The Details Of Tds Of Rs. 13,50,000/- & Finally Raised A Demand Of Rs.14,17,500/-.

u/s. 192 of the Act, contending that Form 26AS does contains the details of TDS of Rs. 13,50,000/- and finally raised a demand of Rs.14,17,500/-. 3. Aggrieved, assessee preferred appeal before the First Appellate Authority. 4. Learned First Appellate Authority considering the facts of the case, dismissed the appeal of assessee, but simultaneously gave a direction

DEMI REALTORS,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee is partly allowed for statistical purposes on the above terms

Bench: Shri R.K. Panda & Shri Laliet Kumar

penalty u/s 234B of the Act by observing that the cash seized should have been adjusted against the self assessment tax payable with the return of income. Thus, considering the totality of facts and circumstances of the case, we hold that interest charged u/s 234B of the Act in the peculiar facts and circumstances of the present case, deserves

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

1A) of the Income Tax Act, 1961.\n\n6. During the course of search and seizure operations at various premises of the assessee, after analysis of seized materials total receipts as on the date of search was prepared and the total turnover was quantified at Rs.1144 crores for Skandhanshi Group pertaining to financial year 2017-2018 to till the date

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

1A)\nof the Income Tax Act, 1961.\n\n6. During the course of search and seizure\noperations at various premises of the assessee, after\nanalysis of seized materials total receipts as on the date of\nsearch was prepared and the total turnover was quantified\nat Rs.1144 crores for Skandhanshi Group pertaining to\nfinancial year 2017-2018 to till the date