ACIT, CENTRAL CIRCLE-2(2), HYDERABAD vs. SYED IMRANUDDIN, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.S.No Appeal In Ita No Revenue Assessee A.Y 1 432/Hyd/2022 Acit, Syed 2018- Central Zeeshanuddin 19 Circle 2(2) Hyderabad Hyderabad Pan:Bqgps0128A 2 436/Hyd/2022 & -Do- Syed Imranuddin 2017- 437/Hyd/2022 Hyderabad 18 3 Pan:Aajpi6494F 4 442/Hyd/2022 -Do- Syed Irfanuddin 2018- Hyderabad 19 Pan:Aappi4693A िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr

business income attracts the provisions of section 115BBE of the Act or not. To answer this, the provisions of sections 115BBE of the Act are reproduced as below: 115BBE(1). Where the total income of an assessee a. includes any income referred to in section 68

ACIT, CENTRAL CIRCLE-2(2), HYDERABAD vs. SYED IRFANUDDIN, HYDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.S.No Appeal In Ita No Revenue Assessee A.Y 1 432/Hyd/2022 Acit, Syed 2018- Central Zeeshanuddin 19 Circle 2(2) Hyderabad Hyderabad Pan:Bqgps0128A 2 436/Hyd/2022 & -Do- Syed Imranuddin 2017- 437/Hyd/2022 Hyderabad 18 3 Pan:Aajpi6494F 4 442/Hyd/2022 -Do- Syed Irfanuddin 2018- Hyderabad 19 Pan:Aappi4693A िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr

business income attracts the provisions of section 115BBE of the Act or not. To answer this, the provisions of sections 115BBE of the Act are reproduced as below: 115BBE(1). Where the total income of an assessee a. includes any income referred to in section 68

ACIT, CENTRAL CIRCLE-2(2), HYDERABAD vs. DEVENDER RAO GORUKANTI, HYDERABAD

In the result, the appeal filed by the revenue is dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2021-22 Acit,Cc-2(2) Vs Devender Rao Gourkanti Room No.616,6Th Floor . H.No.8-2-293/82/Nl/231 Aaykar Bhawan Mla Mp Colony Basheerbagh Jubilee Hills Hyderabad-500 004 Hyderabad-500 033 Pan : Akepg7452N (Appellant) (Respondent) Assessee By: Shri H.Srinivasulu Revenue By: Shri K.P.R.R.Murthy, Sr.Ar Date Of Hearing: 20.03.2023 Date Of Pronouncement: 31.05.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.06.2022 Of The Learned Commissioner Of Income Tax (Appeals)-12, Hyderabad Relating To Ay 2021-22. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & Partner In M/S. Yashoda Helathcare Services Pvt.Ltd & Derives Partner’S Remuneration & Interest On Capital. He Filed His Original Return Of Income On 28.12.2021 Declaring Total Income Of Rs.8,56,33,070/- A Search & Seizure Operation U/S. 132 Of The I.T. Act Was Conducted In The Case Of Yashoda Group On 22.12.2020, During Which The Case Of The Assessee Was Also Covered. In Response To Notice U/S. 153A Of The I.T.Act,The Assessee Filed His Return Of Income Admitting Additional

business income attracts the provisions of section 115BBE of the Act or not. To answer this, the provisions of sections 115BBE of the Act are reproduced as below: 11588E(1). Where the total income of an assessee – a. includes any income referred to in section 68

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

section 14A provides for expenditure incurred for earning exempt income. 3. The ld. CIT(A) erred in allowing deduction u/s 80IA on Gross total income instead of on business income.” 3. The brief facts as taken from AY 2013-14 are that the assessee company filed its return of income for the AY 2013-14 on 30/11/2013 admitting Nil income

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

section 14A provides for expenditure incurred for earning exempt income. 3. The ld. CIT(A) erred in allowing deduction u/s 80IA on Gross total income instead of on business income.” 3. The brief facts as taken from AY 2013-14 are that the assessee company filed its return of income for the AY 2013-14 on 30/11/2013 admitting Nil income

ANJANEE VIJETHA KASTURI,KURNOOL vs. ACIT, CIRCLE-1, KURNOOL

In the result, appeal of assessee is allowed

Bench: Shri K. Narasimha Chary

68, section 69, section 69A, section 69B, section 69C or section 69D of the Act and merely because the section was not specifically invoked, it does not change the character of income or the applicability of section 115BBE to such proceedings. 9. I have gone through the record in the light of the submissions made on either side. Coming

SUPREME AGRO,HYDERABAD vs. ACIT CENTRAL CIRCLE-3 (1), HYDERABAD

In the result, all the appeals of assessees are dismissed

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

income referred to in clause (a) [and clause (b)/ of sub-section (1)./ In the present case, the Assessing Officer has determined the addition u/s Section 68 and therefore the applicability of the Section 115BBE(1)(b) is valid. It would not be out of place to mention as adjudicated in the appeal of the partners of the appellant firm

KANISHKA GUPTA,,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(1), HYDERABAD

In the result, all the appeals of assessees are dismissed

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

income referred to in clause (a) [and clause (b)/ of sub-section (1)./ In the present case, the Assessing Officer has determined the addition u/s Section 68 and therefore the applicability of the Section 115BBE(1)(b) is valid. It would not be out of place to mention as adjudicated in the appeal of the partners of the appellant firm

RONAK GUPTA,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(1), HYDERABAD

In the result, all the appeals of assessees are dismissed

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

income referred to in clause (a) [and clause (b)/ of sub-section (1)./ In the present case, the Assessing Officer has determined the addition u/s Section 68 and therefore the applicability of the Section 115BBE(1)(b) is valid. It would not be out of place to mention as adjudicated in the appeal of the partners of the appellant firm

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD vs. CACHE PROPERTIES PRIVATE LIMITED , HYDERABAD

In the result, the Revenue’s appeal is dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

68,735/- u/s 115 JB of the Income Tax Act, 1961 [the Act for short]. On selection of assessee’s return of income for scrutiny through CASS, the assessment was completed on 27.02.2015 u/s 143(3) accepting the income returned by the assessee. On perusal of the assessment order u/s 263 of the Act, the Pr.CIT was of the opinion

DCIT, CIRCLE-1(1), HYDERABAD, HYDERABAD vs. PRAKASH NIMMAGADDA, HYDERABAD, SECUNDERABAD

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita No.974/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2008-09) Dy.Cit Vs. Shri Prakash Nimmagadda Circle 1(1) Hyderabad Hyderabad Pan:Acbpn4246R (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri K.C. Devdas, Ca राज" व "ारा/Revenue By:: Dr. Meghnath Chowhan, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 06/11/2024 घोषणा की तारीख/Pronouncement: 16/12/2024 आदेश/Order Per Vijay Pal Raothis Appeal Filed By The Revenue Is Directed Against The Order, Dated 20/03/2017 Of The Learned Cit (A)-9, Hyderabad, Relating To A.Y.2008-09. 2. The Revenue Has Raised The Following Grounds:

section 28(iv) of the I.T. Act, 1961 as this is not an income from his business activity or exercise of profession. 6. Aggrieved by the order of the learned CIT (A), the Revenue filed the present appeal. 7. Before the Tribunal, the learned DR has submitted that the decision of the CIT(A) is incorrect both on facts

MOHAMMED MUJEEB UR RAHMAN,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(2), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyassessment Year: 2019-20 Shri Mohd. Mujeeb Ur Vs. Acit, Rahman, Hyderabad Central Circle 2(2) Pan:Aajpu8580G Hyderabad (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao, Ca Revenue By: Smt. Th Vijaya Lakshmi, Cit (Dr) Date Of Hearing: 23/08/2023 Date Of Pronouncement: 19/10/2023 Order Per R.K. Panda, Vice-This Appeal Filed By The Assessee Is Directed Against The Order Dated 27/06/2022 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2019-20. 2. Although A Number Of Grounds Have Been Raised By The Assessee, However, These All Relate To The Order Of The Learned Cit (A) In Confirming The Action Of The Assessing Officer In Taxing The Amount Of Rs.70.00 Lakhs Admitted As Additional Income In The Return Of Income By Invoking The Provisions Of Section 69A R.W.S. 115Bbe Of The I.T. Act.

business income does not fall in the ambit of sections 68 to 69D and therefore, the provisions of section 115BBE

BALA REDDY GOPU, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-2(1), HYDERABAD, HYDERABAD

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

Bench: Shri D. Manmohan & Shri S. Rifaur Rahman

section 14A(2) and rule 8D. Accordingly, we direct the AO to determine the expenditure relevant for the exempt income. It is noted that only during this AY assessee has borrowed certain funds to make investment. Therefore, whatever the investment made by the assessee in the earlier years are out of interest free funds. The relevant expenditure should be determined

GRR HOLDINGS,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3(3), HYDERABAD

In the result, all the three appeals filed by the assessee are allowed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita Nos.164, 194 & 195/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2014-15,2015-16 & 2017-18) Grr Holdings Vs. Dy. C. I. T. Hyderabad Central Circle 3(3) Pan:Aaqfg0867M Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: N O N E सुनवाई की तारीख/Date Of Hearing: 27/05/2024 घोषणा की तारीख/Pronouncement: 24/07/2024 आदेश/Order

Section 68 came up for consideration in India Rice Mills v Commissioner of Income Tax9, and it was held that where capital contributions are made by the partners prior to the commencement of the business

GRR HOLDINGS,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3(3), HYDERABAD

In the result, all the three appeals filed by the assessee are allowed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita Nos.164, 194 & 195/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2014-15,2015-16 & 2017-18) Grr Holdings Vs. Dy. C. I. T. Hyderabad Central Circle 3(3) Pan:Aaqfg0867M Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: N O N E सुनवाई की तारीख/Date Of Hearing: 27/05/2024 घोषणा की तारीख/Pronouncement: 24/07/2024 आदेश/Order

Section 68 came up for consideration in India Rice Mills v Commissioner of Income Tax9, and it was held that where capital contributions are made by the partners prior to the commencement of the business

GRR HOLDINGS,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3(3), HYDERABAD

In the result, all the three appeals filed by the assessee are allowed

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita Nos.164, 194 & 195/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2014-15,2015-16 & 2017-18) Grr Holdings Vs. Dy. C. I. T. Hyderabad Central Circle 3(3) Pan:Aaqfg0867M Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: N O N E सुनवाई की तारीख/Date Of Hearing: 27/05/2024 घोषणा की तारीख/Pronouncement: 24/07/2024 आदेश/Order

Section 68 came up for consideration in India Rice Mills v Commissioner of Income Tax9, and it was held that where capital contributions are made by the partners prior to the commencement of the business

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), HYDERABAD vs. SEW INFRASTRUCTURE LIMITED, HYDERABAD

Bench: Justice (Retd.) C.V. Bhadang, Shri Mahavir Singh & Shri G. Manjunatha

business of development of infrastructure projects, filed its original return of income for the assessment year 2009-10 on 21-09-2009, admitting a total income of Rs.113,58,17,240/-. The assessment has been completed under Section 143(3) of the Income Tax Act, 1961 on 27.12.2011 accepting the returned income. A search and seizure operation under section

SANGHI INDUSTRIES LIMITED,HYDERABAD vs. DCIT, CIRCLE -3 (1), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

68,23,313/- before setting-off of brought forward business losses. After setting off the losses brought forward from the earlier years, the Gross Total Income in terms of Section