ROYAL ENGINEERING,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3(4), HYDERABAD
In the result, appeal of Revenue in ITA No
ITA 18/HYD/2021[2015-16]Status: DisposedITAT Hyderabad18 Oct 2023AY 2015-16
Bench: Shri Rama Kanta Panda & Shri Laliet Kumarsl. आ.अपी.सं / निर्धारणारण वर्ष अपीलार्थी / प्रत्यर्थी / No.
For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri K. Madhusudhan, CIT-DR
Section 143(3)Section 153CSection 68
133A of the act in the case of Sonic Battery also gives credence to the inference that it is merely a paper company and the claim of Rs.25 Crores given by it for land syndication to Amit Bansal cannot be considered as a genuine transaction.
b)
Further land where it is seen from the land syndication agreements with the Sonic