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 of the Act. When the Revenue challenged the order of the Tribunal, the Hon'ble Delhi High Court dismissed the appeal of the Revenue by observing as under: “6. We find that the words 'derived from' (or some other similar words) do not occur in section 10(22) of the Act and, therefore, the word 'income' as occurring

JVR RETAILS PRIVATE LIMITED ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX ,CIRCLE -2(1), HYDERABAD

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

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyassessment Year: 2012-13 Jvr Retails Private Limited Vs Dcit, Circle-2(1) C/O. Murali & Co. . Hyderabad Chartered Accountants 6-3-655/2/3, Somajiguda Hyderabad-500 082 Pan : Aaccv9428J (Appellant) (Respondent) Assessee By: Shri M.V.Joshi Appeared For P.Murali Mohan Rao, Ca Revenue By: Shri Jeevan Lal Lavidiya, Cit-Dr Date Of Hearing: 14.01.2023 Date Of Pronouncement: 31.01.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.03.2021 Passed U/S. 263 By The Learned Principal Commissioner Of Income Tax -2, Hyderabad Relating To A Y 2012-13. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Domestic Company Engaged In The Business Of Retails & Manufacturing Of Jewelry. It Filed Its Return Of Income Declaring Total Income Of Rs. 49,97,390/- On 08.09.2012 Which Was Processed U/S 143(1) On 21.02.2013. Subsequently, The Ao Reopened The Assessment By Recording Reasons As Per Provisions Of Section 147. The Reasons To Believe Which Was Put Up Before The Ld.Pcit-2 For Approval & Which Has Been Reproduced By The Ao In The Body Of The Assessment Order Read As Under:-

68 of the Income tax Act. However, while doing so, the AO has erroneously treated only the share capital amount at Rs.1 ,65,00,000/- as non-genuine instead of Rs.4,82,25,000/- as pointed out above. Since the AO has omitted to apply the facts of his findings to the correct amount of Rs.4,82,25,000/- instead

SUJATHA KANCHARLA,HYDERABAD vs. DCIT., CIRCLE 6(1), HYDERABAD

Bench: Us:

272/- in the hands of the assessee. 7. The A.O. based on the aforesaid observations, vide his order passed u/s 143(3), dated 29.12.2019 determined the income of the assessee at Rs.12,68,53,152/-. 8. Aggrieved, the assessee carried the matter in appeal before the CIT(A) but without any success on either of the aforementioned issues

NULAND INFRASTRUCTURE PRIVATE LIMITED ,HYDERABAD vs. INCOME TAX OFFIERS ,WARD -16(2), HYDERABAD

In the result, appeal filed by the assessee is dismissed

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2011-12 M/S. Nuland Infrastructure Vs. Income Tax Officer (P) Ltd, Hyderabad Ward 16(2) Pan:Aaccn5235D Hyderabad (Appellant) (Respondent) Assessee By: Shri T. Rajender Prasad, Ca Revenue By: Shri Rajendra Kumar, Cit (Dr) Date Of Hearing: 02/08/2022 Date Of Pronouncement: 04/08/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 8.5.2020 Of The Learned Cit (A)-4, Hyderabad Relating To A.Y.2011-12. 2. There Is A Delay Of 545 Days In Filing Of This Appeal By The Assessee For Which The Assessee Has Filed A Condonation Application Along With An Affidavit Explaining The Reasons For Such Delay Which Is Due To The Prevailing Covid. After Hearing Both The Sides & Following The Decision Of The Hon'Ble Supreme Court In The Case Of Suo Moto Write Petition (C) No.3 Of 2020 Order Dated 10.01.2022 Wherein It Is Held That The Period From 15.3.2020 Till

272 (viii) CIT Meerut vs. Nav Bharat Duplex Ltd (2013) 35 Taxmann.com 289 7. The learned DR, on the other hand, heavily relied on the order of the learned CIT (A). He submitted that the learned CIT (A) has given a finding in respect of each and every investor which is self-explanatory. He submitted that either the investors

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

68,339/- on funds diverted to other group companies and partly confirmed the addition made by the AO towards disallowance of finance charges. 37. The learned counsel for the assessee, Shri S. Rama Rao, submitted that the ld. CIT(A) is erred in sustaining the addition made by the AO towards disallowance of finance charges on altogether a different ground

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

68,339/- on funds diverted to other group companies and partly confirmed the addition made by the AO towards disallowance of finance charges. 37. The learned counsel for the assessee, Shri S. Rama Rao, submitted that the ld. CIT(A) is erred in sustaining the addition made by the AO towards disallowance of finance charges on altogether a different ground

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

68,339/- on funds diverted to other group companies and partly confirmed the addition made by the AO towards disallowance of finance charges. 37. The learned counsel for the assessee, Shri S. Rama Rao, submitted that the ld. CIT(A) is erred in sustaining the addition made by the AO towards disallowance of finance charges on altogether a different ground

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

68,339/- on funds diverted to other group companies and partly confirmed the addition made by the AO towards disallowance of finance charges. 37. The learned counsel for the assessee, Shri S. Rama Rao, submitted that the ld. CIT(A) is erred in sustaining the addition made by the AO towards disallowance of finance charges on altogether a different ground

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

68,339/- on funds diverted to other group companies and partly confirmed the addition made by the AO towards disallowance of finance charges. 37. The learned counsel for the assessee, Shri S. Rama Rao, submitted that the ld. CIT(A) is erred in sustaining the addition made by the AO towards disallowance of finance charges on altogether a different ground

DEMI REALTORS,HYDERABAD vs. DCIT, CIRCLE-6(1), HYDERABAD

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

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

section is very clear and the appellant has incurred the expenditure and the appellant has made the payment to the various parties and persons. The appellant has, to circumvent, not accounted for the same and has also not brought out any evidence from M/s.DLF that they have accounted for such transactions in their books as cash payments

SKANDHANSHI INFRA PROJECTS,KURNOOL vs. ACIT., CENTRAL CIRCLE-2(3), HYDERABAD

Sections 132(4A) and\n292C of the Income Tax Act create a rebuttable presumption that documents\nfound during a search belong to the assessee and are true. Courts have\nconsistently held that selective reliance on seized material is unjustified\nunless the contents are independently proved against theTHE ARBITRARY\n\n44\nITA.Nos.514 to 539/Hyd./2025,\nAnd ITA.Nos

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD vs. MAGNA HOMES, HYDERABAD

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdiaassessment Year: 2018-19 The Deputy Commissioner Of Vs. M/S. Magna Homes, Hyderabad. Income Tax, Central Circle 3(1), Pan : Aapfg5917K Hyderabad. (Appellant) (Respondent) Assessee By: Shri Ravi Bharadwaj Revenue By: Dr. Sachin Kumar, Sr.D.R. Date Of Hearing: 08.01.2025 11.02.2025 Date Of Pronouncement:

section 148A(b) was issued to the appellant on 16.03.2022 and in response, the appellant has 3 ITA 327/Hyd/2024 not furnished any information. Order u/s. 148A(d) was passed with the prior approval of the specified authority. Accordingly, notice u/s. 148 of the Act was issued to the appellant on 30.03.2022. However, the appellant has not filed any return

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KURNOOL vs. AGNUR NIRMALA , KURNOOL

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

section 131 of the IT Act on 03.12.2013". He has agreed to offer the income of two crores in the hands of the appellant firm for the Asst.Year 2013-2014. SUBMISSION OF THE APPELLANT The appellant firm submit that, the partner Sri. A. Jayaramudu has agreed to disclose Rs. 2,00,00,000/- income for the Asst. Year

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KURNOOL vs. AGNUR JAYARAMUDU (IND), KURNOOL

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

section 131 of the IT Act on 03.12.2013". He has agreed to offer the income of two crores in the hands of the appellant firm for the Asst.Year 2013-2014. SUBMISSION OF THE APPELLANT The appellant firm submit that, the partner Sri. A. Jayaramudu has agreed to disclose Rs. 2,00,00,000/- income for the Asst. Year

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KURNOOL vs. LEGEND DEVELOPERS & CONSTRUCTIONS, KURNOOL

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

section 131 of the IT Act on 03.12.2013". He has agreed to offer the income of two crores in the hands of the appellant firm for the Asst.Year 2013-2014. SUBMISSION OF THE APPELLANT The appellant firm submit that, the partner Sri. A. Jayaramudu has agreed to disclose Rs. 2,00,00,000/- income for the Asst. Year

ASST. COMMISSIONER OF INCOME TAX, CIRCLE -1, KURNOOL vs. LEGEND DEVELOPERS & CONSTRUCTIONS, KURNOOL

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

section 131 of the IT Act on 03.12.2013". He has agreed to offer the income of two crores in the hands of the appellant firm for the Asst.Year 2013-2014. SUBMISSION OF THE APPELLANT The appellant firm submit that, the partner Sri. A. Jayaramudu has agreed to disclose Rs. 2,00,00,000/- income for the Asst. Year

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KURNOOL vs. AGNUR JANAKIRAM, KURNOOL

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

section 131 of the IT Act on 03.12.2013". He has agreed to offer the income of two crores in the hands of the appellant firm for the Asst.Year 2013-2014. SUBMISSION OF THE APPELLANT The appellant firm submit that, the partner Sri. A. Jayaramudu has agreed to disclose Rs. 2,00,00,000/- income for the Asst. Year

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KURNOOL vs. AGNUR JAYARAMUDU (HUF), KURNOOL

Appeals are dismissed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahuappellant Respondent

section 131 of the IT Act on 03.12.2013". He has agreed to offer the income of two crores in the hands of the appellant firm for the Asst.Year 2013-2014. SUBMISSION OF THE APPELLANT The appellant firm submit that, the partner Sri. A. Jayaramudu has agreed to disclose Rs. 2,00,00,000/- income for the Asst. Year