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

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

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

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

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

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

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

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

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

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