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

68, 69, 69A, 69B, 69C or 69D reflected in the return of income furnished under section 139 of the Act. However, in the present case no such income was reflected in the return filed under section 139 of the Act rather the income was declared in the return filed under section 153A of the Act after

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

68, 69, 69A, 69B, 69C or 69D reflected in the return of income furnished under section 139 of the Act. However, in the present case no such income was reflected in the return filed under section 139 of the Act rather the income was declared in the return filed under section 153A of the Act after

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

21,320/- for A.Y 2015-16 and Rs.1,10,35,625/- for the A.Y 2017-18 towards stamp duty and other charges paid to the SRO for registration of the property u/s 68 of the I.T. Act, 1961 on the ground that although the appellant claimed that the stamp duty and other charges has been paid out of amount received

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

21,320/- for A.Y 2015-16 and Rs.1,10,35,625/- for the A.Y 2017-18 towards stamp duty and other charges paid to the SRO for registration of the property u/s 68 of the I.T. Act, 1961 on the ground that although the appellant claimed that the stamp duty and other charges has been paid out of amount received

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

21,320/- for A.Y 2015-16 and Rs.1,10,35,625/- for the A.Y 2017-18 towards stamp duty and other charges paid to the SRO for registration of the property u/s 68 of the I.T. Act, 1961 on the ground that although the appellant claimed that the stamp duty and other charges has been paid out of amount received

SREE NAGENDRA CONSTRUCTIONS,,KHAMMAM vs. DCIT, CIRCLE -2(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

68 of the Income Tax Act.\nAs there was no case for disallowance for responding\npurchases, no addition could be made under section\n68 inasmuch as it is not in dispute that the creditors'\noutstanding related to purchases and the trading results were\naccepted by the Assessing Officer.'\n\nviii) As regards applicability of provisions of section

GUPTA ASHOK KUMAR,HYDERABAD vs. INCOME TAX OFFICER, WARD-1(2), HYDERABAD

In the result, appeal of the assessee allowed

Bench: Shri Manjunatha G & Shri Ravish Sood

section 68 of the Act. This legal principle is supported by the decision of Hon’ble Supreme Court in the case of CIT vs., Lovely exports Private Limited 216 CTR 195 (SC), where it has been clearly held that, once the assessee has filed the relevant evidences 21

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 68 of the Act. Further, it was the contention of the ld. DR that the assessee had utilized the said amount of Rs. 40 crores for purchasing the Gold from Ashtalaxmi Gold and Impex Gold. It was submitted that the reliance of the ld.CIT(A) on the statement of Mr. Neel Sunder recorded by the police during

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 68 of the Act. Further, it was the contention of the ld. DR that the assessee had utilized the said amount of Rs. 40 crores for purchasing the Gold from Ashtalaxmi Gold and Impex Gold. It was submitted that the reliance of the ld.CIT(A) on the statement of Mr. Neel Sunder recorded by the police during

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 68 of the Act. Further, it was the contention of the ld. DR that the assessee had utilized the said amount of Rs. 40 crores for purchasing the Gold from Ashtalaxmi Gold and Impex Gold. It was submitted that the reliance of the ld.CIT(A) on the statement of Mr. Neel Sunder recorded by the police during

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 68 of the Act. Further, it was the contention of the ld. DR that the assessee had utilized the said amount of Rs. 40 crores for purchasing the Gold from Ashtalaxmi Gold and Impex Gold. It was submitted that the reliance of the ld.CIT(A) on the statement of Mr. Neel Sunder recorded by the police during

LALITHA PADMAJA THALLAPALLI,KURNOOL vs. ITO., WARD-1, KURNOOL

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

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

68 of the Income-tax Act, 1961. 16. The next issue that came up for our consideration from Ground No. 6 of the assessee’s appeal is addition of Rs. 38,42,000/- made by the A.O. under Section 69A of the Income- tax Act, 1961 towards cash deposit into the bank account during the demonetization period as unexplained

AGARWAL INDUSTRIES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

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

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

section 68 of the I.T Act, 1961 which relates to special provision relating to the credit entries made in the books of accounts of the assessee and failure of the assessee to given a satisfactory explanation thereto. In that scenario, the credit made in the books of accounts may be charged as income of the assessee for that previous

KONDAL REDDY ANUMULA,HYDERABAD vs. ACIT., CENTRAL CIRCLE - 1(2), HYDERABAD

In the result, the appeal of assessee in ITA No

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

68 of the Act for Rs. 2,44,00,000/-, in absence of incriminating material found as a result of search conducted under Section 132 of the Income Tax Act, 1961. The assessee challenged the additions made by the A.O. towards unexplained investment and unexplained loans in the absence of incriminating material found as a result of search

KONDAL REDDY ANUMULA,HYDERABAD vs. ACIT., CENTRAL CIRCLE - 1(2), HYDERABAD

In the result, the appeal of assessee in ITA No

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

68 of the Act for Rs. 2,44,00,000/-, in absence of incriminating material found as a result of search conducted under Section 132 of the Income Tax Act, 1961. The assessee challenged the additions made by the A.O. towards unexplained investment and unexplained loans in the absence of incriminating material found as a result of search

KONDAL REDDY ANUMULA,HYDERABAD vs. ACIT., CENTRAL CIRCLE- 1(2), HYDERABAD

In the result, the appeal of assessee in ITA No

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

68 of the Act for Rs. 2,44,00,000/-, in absence of incriminating material found as a result of search conducted under Section 132 of the Income Tax Act, 1961. The assessee challenged the additions made by the A.O. towards unexplained investment and unexplained loans in the absence of incriminating material found as a result of search

VIVA BOARDS PRIVATE LIMITED,NIZAMABAD vs. DCIT., CIRCLE-8(1), HYDERABAD

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

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

68 of the Income Tax Act, 1961. However, the A.O., only for the reason of non-appearance in response to summons issued under Section 131 of the Act, has treated the genuine transactions as unexplained cash credits, even though, the A.O. has not provided sufficient time to the assessee company for producing the creditors for verification, which is evident

SHYAMPRASAD REDDY GADDAM,HYDERABAD vs. DCIT., CENTRAL CIRCLE-3(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed in terms of our aforesaid observations

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No. 196/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2014-15) Shyamprasad Reddy Vs. Dcit, Gaddam, Central Circle-3(3), Hyderabad. Hyderabad. Pan: Aetpg9117P (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Sri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By: Sri Gurpreet Singh, Sr. Ar सुनवाई की तारीख/Date Of Hearing: 06/10/2025 घोषणा की तारीख/Date Of 10/10/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Commissioner Of Income-Tax (Appeals)- 11, Hyderabad, Dated 02/02/2004, Which In Turn Arises From The Order Passed By The Assessing Officer Under Section 144 R.W.S 153A Of The Income Tax Act, 1961 (For Short, “Act”), Dated 12/12/2019 For The Assessment Year 2014-15. 2 Shyamprasad Reddy Gaddam Vs. Dcit

68 of the Act as an addition under Section 69A of the Act, deleted the addition so confirmed by him by recharacterizing the head of addition. 20 Shyamprasad Reddy Gaddam vs. DCIT 21