DY.CIT, CIRCLE-1(2),, HYDERABAD vs. M/S DEEPIKA INFRATECH PVT LTD.,, HYDERABAD

In the result, appeal in ITA No

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

40A(3) amounting to Rs.1,73,00,000/-. 4.The learned Commissioner of Income Tax-(Appeals)-II, erred in confirming Penalty U/s.271(1)(c ) regarding disallowance of hire charges on Tractors, u/s 40(a)(ia) amounting to Rs.50,85,000/-. 11.1 The assessee has also raised the following additional ground relying on the decision of the Hon’ble Supreme Court

M/S DEEPIKA INFRATECH PVT LTD.,,HYDERABAD vs. ACIT, CIRCLE 1(2), HYDERABAD

In the result, appeal in ITA No

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

40A(3) amounting to Rs.1,73,00,000/-. 4.The learned Commissioner of Income Tax-(Appeals)-II, erred in confirming Penalty U/s.271(1)(c ) regarding disallowance of hire charges on Tractors, u/s 40(a)(ia) amounting to Rs.50,85,000/-. 11.1 The assessee has also raised the following additional ground relying on the decision of the Hon’ble Supreme Court

LATE NIMMATOORI RAJA BABU,HYDERABAD vs. ACIT., CENTRAL CIRCLE 2(4), HYDERABAD

In the result, ITA.Nos.596 & 597/Hyd

271, a proper satisfaction must be recorded\nto initiate penalty proceedings u/s 271D instead of a mere\nstatement given by the AO in his order dated 21.12.2019.\n9. a. The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15\ntaken before him.\nb. Without prejudice to other grounds, the Ld. CIT(A) ought to\nhave appreciated that

BS LIMITED,HYDERABAD vs. ASST.COMISSIONER OF INCOME TAX, CIRCLE-2(3), HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri D. Manmohan & Shri S. Rifaur Rahmanassessment Year: 2013-14

271. By issuing such notices, the assessment order becomes final. Various courts have held that such assessment orders to be null and void ab- initio. We have carefully considered the submission and case laws relied. In all the case laws relied on by the assessee, the common mistake made by the AO in those assessments were that AO passed

NIMMATOORI SULOCHANA,HYDERABAD vs. ACIT., CENTRAL CIRCLE 2(4), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

271, a proper satisfaction must be recorded to initiate penalty proceedings u/s 271D instead of a mere statement given by the AO in his order dated 21.12.2019. 9. a . The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15 taken before him. b. Without prejudice to other grounds, the Ld. CIT(A) ought to have appreciated that

NIMMATOORI YASHODA,HYDERABAD vs. DCIT., CENTRAL CIRCLE 2(4), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

271, a proper satisfaction must be recorded to initiate penalty proceedings u/s 271D instead of a mere statement given by the AO in his order dated 21.12.2019. 9. a . The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15 taken before him. b. Without prejudice to other grounds, the Ld. CIT(A) ought to have appreciated that

NIMMATOORI RAMESH BABU,HYDERABAD vs. ACIT., CENTRAL CIRCLE 2(4), HYDERABAD

In the result, appeal ITA

Bench: Shri Manjunatha G & Shri Ravish Sood

271, a proper satisfaction must be recorded to initiate penalty proceedings u/s 271D instead of a mere statement given by the AO in his order dated 21.12.2019. 9. a . The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15 taken before him. b. Without prejudice to other grounds, the Ld. CIT(A) ought to have appreciated that

LATE NIMMATOORI RAJABABU L/R BY ANUDEEP NIMMATOORI,HYDERABAD vs. ACIT., CENTRAL CIRCLE 2(4), HYDERABAD

In the result, appeal ITA

Bench: Shri Manjunatha G & Shri Ravish Sood

271, a proper satisfaction must be recorded to initiate penalty proceedings u/s 271D instead of a mere statement given by the AO in his order dated 21.12.2019. 9. a . The Ld. CIT(A) erred in dismissing ground nos. 11,12,13 & 15 taken before him. b. Without prejudice to other grounds, the Ld. CIT(A) ought to have appreciated that

M/S ELEM INVESTMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahappellant Respondent

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S ELEM INVESTMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahappellant Respondent

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S HIGHGRACE INVESTMENTS PVT LTD,HYDERABAD vs. DCIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahappellant Respondent

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S FINCITY INVESTMENTS PVT LTD,HYDERABAD vs. DCIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S FINCITY INVESTMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S HIGHGRACE INVESTEMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahappellant Respondent

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S FINCITY INVESTMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S HIGH GRACE INVESTMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahappellant Respondent

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S HIGHGRACE INVESTEMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahappellant Respondent

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded

M/S FINCITY INVESTMENTS PVT.LTD.,,HYDERABAD vs. ACIT, HYDERABAD

In the result, appeal of assessee for AY

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

penalty proceedings u/s 271(1)(c) of the I.T.Act, 1961 is also initiated against the appellant for furnishing inaccurate particulars of his income. 18. In the result, the appeal is dismissed and the assessed income is enhanced to the extent of Rs. 58,46,780/-. Show cause notice u/s 274 r.w.s. 271(1)(c) is issued for the reasons recorded