MADHUCON PROJECTS LTD, HYDERABAD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-3, HYD, HYDERABAD

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

56,25,110 2002-03 7,82,83,064 1,50,00,000 9,32,83,064 2003-04 12,39,36,890 2,40,00,000 14,79,36,890 2004-05 19,23,75,770 2,00,00,000 21,23,75,770 2005-06 1,80,00,000 24,79,35,457 The assessments were completed

MADHUCON PROJECTS LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3, HYDERABAD, HYDERABAD

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

56,25,110 2002-03 7,82,83,064 1,50,00,000 9,32,83,064 2003-04 12,39,36,890 2,40,00,000 14,79,36,890 2004-05 19,23,75,770 2,00,00,000 21,23,75,770 2005-06 1,80,00,000 24,79,35,457 The assessments were completed

MADHUCON PROJECTS LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3, HYDERABAD, HYDERABAD

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

56,25,110 2002-03 7,82,83,064 1,50,00,000 9,32,83,064 2003-04 12,39,36,890 2,40,00,000 14,79,36,890 2004-05 19,23,75,770 2,00,00,000 21,23,75,770 2005-06 1,80,00,000 24,79,35,457 The assessments were completed

APACHE FOOTWEAR INDIA PRIVATE LIMITED,MAMBATTU VILLAGE vs. ASSISTANT COMMISSIONER OF INCOME TAX ,CIRCLE-1(1), TIRUPATI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

vii) Hon'ble ITAT Pune in DCIT Vs. Rehau Polymers Private Ltd Vs. ACIT [2017 85 taxmann.com 23] viii)Hon'ble ITAT Pune in Skoda Auto India Ltd. Vs. ACIT 2344/PU and 2012 ix) Hon'ble Madras High Court in Vijay television Pvt Ltd Vs. DRP [(2014) 369 ITR 113] 8. The Appellant most respectfully prays that

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

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

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

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

DY. COMMISSIONER OF INCOME TAX , CIRCLE-17(1), HYDERABAD vs. DRS LOGISTICS PRIVATE LIMITED , SECUNDERABAD

In the result, the appeal of the Revenue is dismissed

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

56,030/- Total Short Term Capital Gains Rs.22,12,74,800/- This has resulted into short computation of total income of Rs.22,12,74,800/- with a tax effect of Rs.10,00,31,035/-. After verification of the facts from the assessment record this aspect needs thorough verification. B) Besides the above it is also observed that deficiencies

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

U/s. 40A(3) of IT Act. 4. In respect of Haritavanam project the Learned CITA) erred in holding that income should be restricted to disclosure made during search operation even though the assessee has failed to produce any evidence showing that expenditure was incurred in cash, out of the Suppressed sale proceeds received in cash. 5. In respect of Nandanavanam

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

U/s. 40A(3) of IT Act. 4. In respect of Haritavanam project the Learned CITA) erred in holding that income should be restricted to disclosure made during search operation even though the assessee has failed to produce any evidence showing that expenditure was incurred in cash, out of the Suppressed sale proceeds received in cash. 5. In respect of Nandanavanam

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

U/s. 40A(3) of IT Act. 4. In respect of Haritavanam project the Learned CITA) erred in holding that income should be restricted to disclosure made during search operation even though the assessee has failed to produce any evidence showing that expenditure was incurred in cash, out of the Suppressed sale proceeds received in cash. 5. In respect of Nandanavanam

VARSHA VISWANATH PROPERTIES PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

U/s. 40A(3) of IT Act. 4. In respect of Haritavanam project the Learned CITA) erred in holding that income should be restricted to disclosure made during search operation even though the assessee has failed to produce any evidence showing that expenditure was incurred in cash, out of the Suppressed sale proceeds received in cash. 5. In respect of Nandanavanam

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED , HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

U/s. 40A(3) of IT Act. 4. In respect of Haritavanam project the Learned CITA) erred in holding that income should be restricted to disclosure made during search operation even though the assessee has failed to produce any evidence showing that expenditure was incurred in cash, out of the Suppressed sale proceeds received in cash. 5. In respect of Nandanavanam

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD vs. VARSHA VISWANATH PROPERTIES PRIVATE LIMITED , HYDERABAD

In the result, all the appeals filed by the assessee as well as the Revenue are treated as allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

U/s. 40A(3) of IT Act. 4. In respect of Haritavanam project the Learned CITA) erred in holding that income should be restricted to disclosure made during search operation even though the assessee has failed to produce any evidence showing that expenditure was incurred in cash, out of the Suppressed sale proceeds received in cash. 5. In respect of Nandanavanam