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 of the Act, as it stood prior to the Finance Act, 2012, is being extracted below:- "68. Cash credits--Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no Page 25 of 42 ITA Nos 164

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 of the Act, as it stood prior to the Finance Act, 2012, is being extracted below:- "68. Cash credits--Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no Page 25 of 42 ITA Nos 164

SPECTRA EQUIPMENT PRIVATE LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD 3(1),, HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdiaassessment Year: 2017-18 Spectra Equipment Private Vs. The Income Tax Officer, Ward 3(1), Limited, Hyderabad. Hyderabad. Pan No.Aaccs8677C. (Appellant) (Respondent) Assessee By: Ms. Akanksha, C.A. For Shri Sunil Kumar Jain, C.A. Revenue By: Ms. Narmada, Cit-Dr For Shri Madan Mohan Meena, Sr.D.R. Date Of Hearing: 11.12.2024 Date Of Pronouncement: 18.12.2024

164 or section 164A or section 167B, as the case may be, or the rate or rates of income-tax specified in this behalf in the Finance Act of the relevant year, whichever is applicable ; (ii) for the purposes of deduction of tax under sections 193, 194, 194A, 194B, 194BB and 194D, the rate or rates

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(1), HYDERABAD vs. M/S. MUSADDILAL GEMS AND JEWELS PRIVATE LIMITED, HYDERABAD

In the result, we uphold the addition of Rs

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 164 of Cr.PC. viii. The assessee had not filled any receipts issued by it in favour of seven persons as alleged by him in subsequent statement dated 20/11/2019. ix. It is not the case of the assessee that at the time of recording of statement during survey, seven person including Neel sunder were present and had pressurized

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE3-(1), HYDERABAD vs. VAISHNAVI BULLION PRIVATE LIMITED, HYDERABAD

In the result, we uphold the addition of Rs

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 164 of Cr.PC. viii. The assessee had not filled any receipts issued by it in favour of seven persons as alleged by him in subsequent statement dated 20/11/2019. ix. It is not the case of the assessee that at the time of recording of statement during survey, seven person including Neel sunder were present and had pressurized

MUSADDILAL GEMS JEWELS PRIVATE LIMITED ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, we uphold the addition of Rs

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 164 of Cr.PC. viii. The assessee had not filled any receipts issued by it in favour of seven persons as alleged by him in subsequent statement dated 20/11/2019. ix. It is not the case of the assessee that at the time of recording of statement during survey, seven person including Neel sunder were present and had pressurized

VAISHNAVI BULLION PRIVATE LIMITED ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

In the result, we uphold the addition of Rs

Bench: Before Shri Rama Kanta Panda & Shri Laliet Kumar

section 164 of Cr.PC. viii. The assessee had not filled any receipts issued by it in favour of seven persons as alleged by him in subsequent statement dated 20/11/2019. ix. It is not the case of the assessee that at the time of recording of statement during survey, seven person including Neel sunder were present and had pressurized

JOSHITA INFRA DEVELOPERS LLP,HYDERABAD vs. ITO., WARD-14(1), HYDERABAD

In the result, the appeal of the Revenue is dismissed

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

Section 68 of the Act. The A.O. further noted that although the assessee has furnished relevant details of commission expenses of Rs. 2,05,32,164

ITO., WARD 14(1), HYDERABAD vs. JOSHITA INFRA DEVELOPERS LLP, HYDERABAD

In the result, the appeal of the Revenue is dismissed

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

Section 68 of the Act. The A.O. further noted that although the assessee has furnished relevant details of commission expenses of Rs. 2,05,32,164

MRL TRADING COMPANY,HYDERABAD vs. ITO., WARD-7(1), HYDERABAD

In the result, appeal of the Assessee is allowed

164\n51,53,158\n5,20,61,626 75.48,935\nAs per Books\nof accounts\n146,53,44,162 1,27,02,093 146,53,44,160\nTurnovers as\nper VAT 200 Tax\n126,72,77,290\n10,64,85,917\nAs per Books\nof accounts\n0\n53,24,295\n5,44,90,413\n79,01,109\n142

RAVI RISHI EDUCATIONAL SOCIETY ,HYDERABAD vs. ACIT CENTRAL CIRCLE-2 (4), HYDERABAD

In the result, the solitary ground raised by the Revenue in the appeals are dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2017-18 Ravi Rishi Educational A.C.I.T. Society, Hyderabad Central Circle 2(4) Pan:Aaaar1952M Hyderabad (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Esthen N Hangal, Dr Date Of Hearing: 07/06/2022 Date Of Pronouncement: 19/07/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 21/04/2022 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2017-18. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Aop & Registered U/S 12A Of The I.T. Act Vide Proceedings Of The Director Of Income Tax (Exemption) Hyderabad In F.No.Hqrs/I/15/12A/Dit(E) Dated 27.02.2003. The Assessee Filed Its Original Return Of Income For The A.Y 2017-18 On 06.11.2017 Admitting Total Income Of Rs.Nil. M/S. Ravi Rishi Educational Society Is Run By Close Family Members Mr.N.Rajababu, Mr.Ramesh Babu, Mrs. N. Sulochana, Mrs. N. Yashoda, Mrs. N.

68 & 69 can be made. For the above proposition, he relied on the following decisions: (i) Hon'ble Delhi High Court in the case of Director of Income Tax (Exemptions) vs. Raunaq Education Foundation, reported in 164 Taxman 266. (ii) ITAT Pune in the case of ACIT vs. Gurudatta Shikshan Sanstha in ITA Nos.843 & 844/PUN/2015 (iii) ITAT Cochin

ACIT, CENTRAL CIRCLE-3(1), HYDERABAD vs. SRI CHAITANYA EDUCATIONAL COMMITTE, VIJAYAWADA

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

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

Section 13(1)(c) r.w.s. 13(2)(c) and 13(2)(g) of the 1.T. Act. The AO has noted that he is not convinced with the reasons for handing over coaching centers to JV and VEMPL. The AO further noted that the appellant has incurred a loss during the immediately preceding year and also during the present

KRISHNA CONSTRUCTIONS,NIRMAL vs. INCOME TAX OFFICER, WARD-1, NIRMAL

In the result, appeal of the Assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita.No.1330/Hyd/2025 Assessment Year 2017-2018 Krishna Constructions The Income Tax Officer, Nirmal. Telangana. Ward-1, Vs. Pin – 504 106. Nirmal – 504 106. Pan Aapfk1280K Telangana. (Appellant) (Respondent) िनधा"रती "ारा/Assessee By : Sri D Prabhakar Reddy, Advocate राज" व "ारा/Revenue By : Dr. Sachin Kumar,Sr. Ar सुनवाई की तारीख/Date Of Hearing: 10.03.2026 घोषणा की तारीख/Pronouncement: 08.04.2026 आदेश/Order Per Vijay Pal Rao:

sections 14A and 68 of the Act. By making an addition u/s.69 of the Act, the AO has clearly exceeded the jurisdiction vested in him and travelled beyond the scope of limited scrutiny. 96. For this reason, we are unable to subscribe to the reasoning adopted by the Ld. CIT(A) that since the asset in question was included

INCOME TAX OFFICER, WARD-1, WARANGAL vs. SATHISH PONNAM, PARKAL

In the result, appeal of the Revenue is dismissed

164. Telangana\n3. The Pr. CIT, Hyderabad.\n4. The DR ITAT “B” Bench, Hyderabad.\n5. Guard File.\n//By Order//\n//True Copy//\nSr. Private Secretary, ITAT,\nHyderabad Benches, Hyderabad.\nSd/-\n[MANJUNATHA G]\nACCOUNΤΑΝΤ ΜΕMBER", "summary": { "facts": "The assessee, engaged in providing bank facilities for liquor merchants to purchase Demand Drafts, deposited a significant amount (Rs.3

ELITE INFRAPROJECTS PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

In the result, all the appeals of the assessee are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Ble

68 01-07-2017 137-138 Notice under section 13(2) by Andhra Bank for enforcement 69 07-09-2017 of security interest in case of B Narasimha Reddy 139-140 Summons issued for the debts of Bank of Maharashtra by 70 08-09-2017 Debt Recovery Tribunal to Elite Infra Projects Private 14 I Limited Reply by Canara

ELITE INFRAPROJECTS PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

In the result, all the appeals of the assessee are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Ble

68 01-07-2017 137-138 Notice under section 13(2) by Andhra Bank for enforcement 69 07-09-2017 of security interest in case of B Narasimha Reddy 139-140 Summons issued for the debts of Bank of Maharashtra by 70 08-09-2017 Debt Recovery Tribunal to Elite Infra Projects Private 14 I Limited Reply by Canara

ELITE INFRAPROJECTS PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

In the result, all the appeals of the assessee are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Ble

68 01-07-2017 137-138 Notice under section 13(2) by Andhra Bank for enforcement 69 07-09-2017 of security interest in case of B Narasimha Reddy 139-140 Summons issued for the debts of Bank of Maharashtra by 70 08-09-2017 Debt Recovery Tribunal to Elite Infra Projects Private 14 I Limited Reply by Canara

ELITE INFRAPROJECTS PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE-8(1), HYDERABAD

In the result, all the appeals of the assessee are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Ble

68 01-07-2017 137-138 Notice under section 13(2) by Andhra Bank for enforcement 69 07-09-2017 of security interest in case of B Narasimha Reddy 139-140 Summons issued for the debts of Bank of Maharashtra by 70 08-09-2017 Debt Recovery Tribunal to Elite Infra Projects Private 14 I Limited Reply by Canara

ELITE INFRAPROJECTS PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

In the result, all the appeals of the assessee are dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Ble

68 01-07-2017 137-138 Notice under section 13(2) by Andhra Bank for enforcement 69 07-09-2017 of security interest in case of B Narasimha Reddy 139-140 Summons issued for the debts of Bank of Maharashtra by 70 08-09-2017 Debt Recovery Tribunal to Elite Infra Projects Private 14 I Limited Reply by Canara