D S R INFRASTRUCTURE PRIVATE LIMITED ,HYDERABAD vs. DCIT., CENTRAL CIRCLE-1(4), HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), HYDERABAD vs. DSR INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), HYDERABAD vs. DSR INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

D S R INFRASTRUCTUREPRIVATE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE- 1(4), HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

DCIT., CENTRAL CIRCLE-1(4), HYDERABAD vs. DSR INFRASTRUCTURE PRIVATE LIMITED, HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), HYDERABAD vs. PIONEER BUILDERS, HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), HYDERABAD vs. PIONEER BUILDERS, HYDERABAD

In the result, the appeals of Revenue in ITA Nos

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdiasl.

292C of the IncomeTax Act, 1961 presumption about the ownership, truthfulness about the contents of the loose slips can be raised against the party from whose premises 6 such documents were found and seized / impounded. Hence if at all, any addition is required to be made on the basis of statutory presumption, the same cannot be made against the appellant

ASSISTANT COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-3(2), HYDERABAD vs. P SHIVMOHAN REDDY, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

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

271(1)(b) was also passed on 21.11.2019 levying penalty of Rs.10,000/-. During the course of assessment proceedings, the Assessing Officer noted that certain incriminating materials were found and seized during the course of search and the statement of Shri P. Shivmohan Reddy i.e., the assessee was recorded in which he accepted that he has been receiving money

ACIT, CIRCLE-1(1), HYD, HYDERABAD vs. ALLURI KRISHNA REDDY, HYD, HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahuassessment Year: 2007-08

Penalty proceedings u/s 271(1)(c) of the Act are initiated for furnishing inaccurate particular of income and concealment of income in this regard. (Addition: Rs.1,80,12,096/-) 13. The CIT(A)’s detailed discussion dealing with the instant addition reads as under : “07.0 Unexplained investment During the search & seizure operation, certain incriminating material was found and seized consisting

ALLURI KRISHNA REDDY, HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1, HYD, HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahuassessment Year: 2007-08

Penalty proceedings u/s 271(1)(c) of the Act are initiated for furnishing inaccurate particular of income and concealment of income in this regard. (Addition: Rs.1,80,12,096/-) 13. The CIT(A)’s detailed discussion dealing with the instant addition reads as under : “07.0 Unexplained investment During the search & seizure operation, certain incriminating material was found and seized consisting

ACIT, CENTRAL CIRCLE-1(1), HYD, HYDERABAD vs. ALLURI KRISHNA REDDY, HYD, HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahuassessment Year: 2007-08

Penalty proceedings u/s 271(1)(c) of the Act are initiated for furnishing inaccurate particular of income and concealment of income in this regard. (Addition: Rs.1,80,12,096/-) 13. The CIT(A)’s detailed discussion dealing with the instant addition reads as under : “07.0 Unexplained investment During the search & seizure operation, certain incriminating material was found and seized consisting

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

NCC LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

NCC LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

NCC LIMITED, ,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(1),, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

ACIT, CENTRAL CIRCLE-1(1), HYDERABAD, HYDERABAD vs. NCC LIMITED, HYDERABAD, HYDERABAD

Accordingly, we delete the same. Thus, this ground is partly allowed

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

Penalty proceedings u/s 271(1)(c) are initiated separately for not disclosing the same in the original return filed on 15.10.2010.” 21. Similarly for the A.Y 2011-12 at page 8 and para 5, the assessee had also admitted an amount of Rs.4.50 crores during the assessement proceedings and for this amount the assessee is entitled to telescoping

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