BRIJESH CHANDWANI,HYDERABAD vs. DCIT., CIRCLE -6(1), HYDERABAD

The appeal of the Assessee is allowed on this ground alone

45 6. Thus, the learned Authorised Representative of the Assessee has submitted that the notice issued u/sec.148 for the assessment year 2016-2017 is invalid and liable to be quashed and consequently, the re-assessment order passed by the Assessing Officer is also liable to be quashed. In support of his contention, he has relied upon the Judgment

DY.COMMISSIONER OF INCOME TAX, CIRCLE 2(2), HYDERBAD vs. SEW INFRASTUCTURE LIMITED, HYDERABAD

Bench: Shri Manjunatha G & Shri K. Narasimha Chary

45 involving a sum of Rs.156,08,30,022/- out of the total claim of Rs.191,80,22,209/- are not entitled for deduction u/sec.80IA of the Act since the Department has filed an appeal before the Hon'ble High Court Andhra Pradesh in the case of Transtroy India Limited on identical issue which is pending for adjudication. The Assessing

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

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

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdia

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ACIT CENTRAL CIRCLE-2(1), HYDERABAD vs. MADHUCON PROJECTS LIMITED, HYDERABAD

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

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdia

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

MADHUCON PROJECTS LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD

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

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdia

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), HYDERABAD vs. MADHUCON PROJECTS LIMITED, HYDERABAD

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

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdia

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), HYDERABAD vs. MADHUCON PROJECTS LIMITED, HYDERABAD

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

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdia

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

MADHUCON PROJECTS LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD

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

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdia

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under section 132 or requisition under section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), HYDERABAD vs. INDRANI PRASAD , NEW DELHI

In the result, the appeal is treated as allowed”

Bench: Shri A.M. Alankamony & Shri S.S. Godara

45 days instead of 15 days for compliance. Such' notice is prescribed under Rule 12(lA) which in turn prescribes Form 2Bfor block return. 14) Section 158 BC(b) is a procedural provision for making a regular assessment applicable to Block assessment as well. Section 158 BC(c) would require the assessing officer to compute the income as well

INDRANI PRASAD ,NEW DELHI vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, HYDERABAD

In the result, the appeal is treated as allowed”

Bench: Shri A.M. Alankamony & Shri S.S. Godara

45 days instead of 15 days for compliance. Such' notice is prescribed under Rule 12(lA) which in turn prescribes Form 2Bfor block return. 14) Section 158 BC(b) is a procedural provision for making a regular assessment applicable to Block assessment as well. Section 158 BC(c) would require the assessing officer to compute the income as well

ITO (INTERNATIONAL TAXATION)-1, HYDERABAD vs. MIKKILINENI NARENDRA KUMAR, SERILINGAMPALLY

In the result, the appeal of the Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdiaassessment Year: 2016-17 The Income Tax Officer, Vs. Mikkilineni Narendra Kumar, Serilingampally, International Taxation – 1 Hyderabad. Hyderabad. Pan : Nenpk4757J. (Appellant) (Respondent) Assessee By: Shri H. Srinivasulu, Advocate Revenue By: Ms. M. Narmada, Cit-Dr Date Of Hearing: 12.12.2024 19.12.2024 Date Of Pronouncement:

reassessment proceedings u/s 147 were initiated for the A.Y. 2016-17 and a notice was issued on 30.03.2021. In response to this notice, assessee has not filed any return but submitted the information stating that he has not entered/executed any sale deed during the relevant A.Y. 2016-17 has only entered into a modified development Agreement cum general power

INCOME TAX OFFICER, WARD-1, NELLORE vs. VENKATA RAMANAMMA SAKAMURI, NELLORE

In the result, the appeal filed by the revenue being devoid and bereft of any substance is dismissed

Bench: Us:

45,89,000/- in Canara Bank, cash withdrawals of 3,65,500/-, and TCS on liquor purchases amounting to 1,74,11,245/-. The total transactions amounted to 4,75,04,970/-. The assessee did not file a return of income for the relevant year, prompting concerns about income escaping assessment. Numerous notices were issued under Sections

JT. COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRLCE -1(2) , HYDERABAD vs. AMSRI BUILDERS, SECUNDERABAD

In the result, appeal of the revenue is allowed for statistical purposes in above terms

Bench: Shri Laxmi Prasad Sahu & Shri K. Narasimha Chary

45[or sub-section (3)J of section 74, 46[or sub-section (3) of section 74AJ, he may furnish, within the time allowed under sub-section (1) 47[***J, a return of loss in the prescribed form48 and verified in the prescribed manner and containing such other particulars as may be prescribed, and all the provisions of this

JT. COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRLCE -1(2) , HYDERABAD vs. AMSRI BUILDERS, SECUNDERABAD

In the result, appeal of the revenue is allowed for statistical purposes in above terms

Bench: Shri Laxmi Prasad Sahu & Shri K. Narasimha Chary

45[or sub-section (3)J of section 74, 46[or sub-section (3) of section 74AJ, he may furnish, within the time allowed under sub-section (1) 47[***J, a return of loss in the prescribed form48 and verified in the prescribed manner and containing such other particulars as may be prescribed, and all the provisions of this

SUBBALAKSHMAMMA PINNAMA,THUMMALAGUNTA,TIRUPATI vs. INCOME TAX OFFICER, WARD-1(1), TIRUPATI

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

Bench: the Ld. CIT(A).

45(5A) was not applicable for the year and that, the assessee still had adequate time up to 31.03.2018 to file the return. The Ld. CIT(A) further noted that payment of part of the tax before reopening does not cure the default nor prevent levy of penalty for under-reporting. He held that, the case fell squarely under Section

RAJU SURYANARAYANA ALLURI,USA vs. ITO (INT TAXN)-1, HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

reassessment proceedings u/s.147 of the Act. In response to the notice u/s.148 of the Act, the assessee filed his ROI on 24.03.2023 declaring total income of Rs.1,89,600/-. After going through the submission of the assessee, the Ld. AO contended that the transfer of property take place in the year of JDA and the assessee is liable for capital

PRATHIMA INFRASTRUCTURE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeals filed by the Revenue are dismissed

reassessment, as explained under Section 292CC and the limitation provided under Section 153B of the Income Tax Act, 1961. 19. In the present case, there is no dispute with regard to the fact that, although the joint warrant of authorization was issued in the name of the assessee and other associated persons/entities, but separate panchanama was drawn in the case

PRATHIMA INFRASTRUCTURE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeals filed by the Revenue are dismissed

reassessment, as explained under Section 292CC and the limitation provided under Section 153B of the Income Tax Act, 1961. 19. In the present case, there is no dispute with regard to the fact that, although the joint warrant of authorization was issued in the name of the assessee and other associated persons/entities, but separate panchanama was drawn in the case