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 and 69D, the provisions of Section 115BBE were not attracted. 7.5.2 Reliance is placed on the decision of Hon'ble Chandigarh Tribunal in case of Bajaj Sons Ltd. Vs DCIT 128 taxmann 406, (24

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 and 69D, the provisions of Section 115BBE were not attracted. 7.5.2 Reliance is placed on the decision of Hon'ble Chandigarh Tribunal in case of Bajaj Sons Ltd. Vs DCIT 128 taxmann 406, (24

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 by the assessee firm, it is for the partners to explain the source of such capital contribution and if they failed to discharge such

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 by the assessee firm, it is for the partners to explain the source of such capital contribution and if they failed to discharge such

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 by the assessee firm, it is for the partners to explain the source of such capital contribution and if they failed to discharge such

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

68, 69, 69A, 69B, 69C, 690 or secondly, the income is determined as deemed income under those sections by the AO during the assessment proceedings. Applying it to the facts of the present case, the assessee has declared in the return of income the additional income as business income which falls under Section

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

In the result, appeal filed by the assessee is allowed

section 68 could be made only if the\namount was credited in the accounts of the assessee in the\nrelevant financial year. In Shri Vardhman Overseas Ltd. v.\nAsstt. CIT (Del-Trib): 24

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. The relevant findings of the Tribunal are as under. “43. We have heard the rival contentions and perused the material placed on record. In this appeal revenue challenges the finding of the ld. CIT(A) raising two ground effectively dealing with the deletion of addition of Rs.1,75,00,364/-. The revenue state that

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 and therefore, no addition can be made in the hands of the assessee. It was the contention of the assessee that the Assessing Officer was duty bound to examine Shri Neel Sunder for the purpose of coming to the conclusion whether he had deposited Rs.28 crore in the bank or not since the above

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 and therefore, no addition can be made in the hands of the assessee. It was the contention of the assessee that the Assessing Officer was duty bound to examine Shri Neel Sunder for the purpose of coming to the conclusion whether he had deposited Rs.28 crore in the bank or not since the above

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 and therefore, no addition can be made in the hands of the assessee. It was the contention of the assessee that the Assessing Officer was duty bound to examine Shri Neel Sunder for the purpose of coming to the conclusion whether he had deposited Rs.28 crore in the bank or not since the above

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 and therefore, no addition can be made in the hands of the assessee. It was the contention of the assessee that the Assessing Officer was duty bound to examine Shri Neel Sunder for the purpose of coming to the conclusion whether he had deposited Rs.28 crore in the bank or not since the above

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)

Section 68 of the Act, towards unexplained loan. 22. As we have already allowed the assessee’s legal ground, the adjudication of the remaining grounds will be merely academic in nature and thus, becomes infructuous. Accordingly, the remaining grounds are dismissed as infructuous. 23. In the result, the appeal filed by the assessee for A.Y. 2015-16 is allowed

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)

Section 68 of the Act, towards unexplained loan. 22. As we have already allowed the assessee’s legal ground, the adjudication of the remaining grounds will be merely academic in nature and thus, becomes infructuous. Accordingly, the remaining grounds are dismissed as infructuous. 23. In the result, the appeal filed by the assessee for A.Y. 2015-16 is allowed

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)

Section 68 of the Act, towards unexplained loan. 22. As we have already allowed the assessee’s legal ground, the adjudication of the remaining grounds will be merely academic in nature and thus, becomes infructuous. Accordingly, the remaining grounds are dismissed as infructuous. 23. In the result, the appeal filed by the assessee for A.Y. 2015-16 is allowed

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)

section 68 of the Act and added it to the income of the assessee. Being aggrieved of such addition, assessee preferred appeal before the first appellate authority. 16. In course of hearing of appeal before the first appellate authority, out of the 9 persons in whose cases assessee could not produce confirmation letters before the A.O., assessee produced confirmation

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 towards unexplained money under Section 69A of the Act, therefore, the same cannot be sustained and is liable to be vacated. 23. As we have vacated the addition sustained by the CIT(A) in terms of our aforesaid deliberations, therefore, we refrain from dealing with the other aspects based on which