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

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

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-15(1)., HYDERABAD vs. SRIDHAR REDDY JAGAN NAGARI SATYA., HYDERABAD

In the result, the appeals of the assessee are allowed”

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year:2012-13 Sridhar Reddy Jagan Vs. Dy. C.I.T. Nagari Satya, Circle 15(1) Secunderabad Hyderabad Pan:Adapj3782D (Appellant) (Respondent) Assessment Year:2012-13 A.C.I.T. Vs. Sridhar Reddy Jagan Circle 15(1) Nagari Satya, Hyderabad Secunderabad Pan:Adapj3782D (Appellant) (Respondent) Assessee By: Sri P. Murali Mohan, Ca Revenue By: Sri Rajendra Kumar, Cit(Dr) Date Of Hearing: 08/06/2022 Date Of Pronouncement: 29/07/2022 Order Per R.K. Panda, A.M These Are Cross Appeals. The First One Is Filed By The Assessee & The 2Nd One Is Filed By The Revenue & Are Directed Against The Order Dated 27.3.2017 Cit (A)-7, Hyderabad Relating To The A.Y 2012-13. For The Sake Of Convenience, These Were Heard Together & Are Being Disposed Of By This Common Order.

68 are not adjudicated as the addition is deleted in the facts and circumstances of the as above”. 8. So far as the addition of Rs.9,91,15,015/- is concerned, the learned CIT (A) deleted the same by observing as under: “7.2 I have considered the assessment order and the submissions of the assessee. I have perused the profit

SRIDHAR REDDY JAGAN NAGARI SATYA.,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-15(1)., HYDERABAD.

In the result, the appeals of the assessee are allowed”

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year:2012-13 Sridhar Reddy Jagan Vs. Dy. C.I.T. Nagari Satya, Circle 15(1) Secunderabad Hyderabad Pan:Adapj3782D (Appellant) (Respondent) Assessment Year:2012-13 A.C.I.T. Vs. Sridhar Reddy Jagan Circle 15(1) Nagari Satya, Hyderabad Secunderabad Pan:Adapj3782D (Appellant) (Respondent) Assessee By: Sri P. Murali Mohan, Ca Revenue By: Sri Rajendra Kumar, Cit(Dr) Date Of Hearing: 08/06/2022 Date Of Pronouncement: 29/07/2022 Order Per R.K. Panda, A.M These Are Cross Appeals. The First One Is Filed By The Assessee & The 2Nd One Is Filed By The Revenue & Are Directed Against The Order Dated 27.3.2017 Cit (A)-7, Hyderabad Relating To The A.Y 2012-13. For The Sake Of Convenience, These Were Heard Together & Are Being Disposed Of By This Common Order.

68 are not adjudicated as the addition is deleted in the facts and circumstances of the as above”. 8. So far as the addition of Rs.9,91,15,015/- is concerned, the learned CIT (A) deleted the same by observing as under: “7.2 I have considered the assessment order and the submissions of the assessee. I have perused the profit

K.B.ROLLING MILLS PRIVATE LIMITED,RANGA REDDY vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

K.B.ROLLING MILLS PRIVATE LIMITED,RANGA REDDY vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

K.B.ROLLING MILLS PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

K.B.ROLLING MILLS PRIVATE LIMITED ,RANGA REDDY vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

K.B.ROLLING MILLS PRIVATE LIMITED ,RANGA REDDY vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

K.B.ROLLING MILLS PRIVATE LIMITED ,RANGA REDDY vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

K.B.ROLLING MILLS PRIVATE LIMITED,RANGA REDDY vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

282/- and Section 68 un-explained cash credits addition of Rs.3,75,75,971/- thereby treating commission income as bogus

ZAVERI EXPORTS PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-3(4), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Bleassessment Year: 2018-19 Zaveri Exports Private Limited, Vs. The Acit, Central Circle – 3(4), Hyderabad. Hyderabad. Pan : Aaacz1286A. (Appellant) (Respondent) Assessee By: Shri H. Srinivasulu, Advocate. Revenue By: Ms. T. Vijaya Lakshmi, Cit-Dr Date Of Hearing: 09.07.2024 Date Of Pronouncement: 12.07.2024

68 of the Act, and had held that the receipt was in the form of loan or advances and therefore, deemed it appropriate to initiate the proceedings under Section 269SS/ST r.w.s. 271D of the Act. 7. The ld. AR further submitted that once the Assessing Officer examined the issue u/s 269SS/ST of the Act, then the Assessing Officer must

INDUR AVENUES AND FOODS PRIVATE LIMITED,NIZAMABAD 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

68,480/-. A search and seizure operation under Section 132 of the Income Tax Act was conducted on 07-04-2017 on the group of Kapil Consultancy Services Ltd and in which the assessee was also covered. The assessment has been subsequently re-opened under Section 147 of the Income Tax Act for the reasons recorded

INDUR AVENUES AND FOODS PRIVATE LIMITED,NIZAMABAD 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

68,480/-. A search and seizure operation under Section 132 of the Income Tax Act was conducted on 07-04-2017 on the group of Kapil Consultancy Services Ltd and in which the assessee was also covered. The assessment has been subsequently re-opened under Section 147 of the Income Tax Act for the reasons recorded

INDUR DEVELOPERS AND AGENCIES PRIVATE LIMITED ,VIJAYAWADA 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

68,480/-. A search and seizure operation under Section 132 of the Income Tax Act was conducted on 07-04-2017 on the group of Kapil Consultancy Services Ltd and in which the assessee was also covered. The assessment has been subsequently re-opened under Section 147 of the Income Tax Act for the reasons recorded

KOLORS HEALTHCARE LLP,HYDERABAD vs. ACIT, CENTRAL CIRCLE-3(4), HYDERABAD

282\nCard amount\noffered more\nthan S&S\n3,50,68,535\nRepeated.\ntransactions in\nS&S\nMaterial\ndiscrepancies\n2,98,59,330\nFurther, the assessee filed the above information before the Ld.CIT(A)-11, Hyderabad\nand the CIT(A), vide letter dated 28.7.2022 has called for a remand report on the\nabove information also. (The date is mentioned wrongly

KOLORS HEALTHCARE LLP,HYDERABAD vs. ACIT., CENTRAL CIRCLE-3(4), HYDERABAD

282\nCard amount\noffered more\nthan S&S\n3,50,68,535\nRepeated.\ntransactions in\nS&S\nMaterial\ndiscrepancies\n2,98,59,330\n14,41,96,147\nFurther, the assessee filed the above information before the Ld.CIT(A)-11, Hyderabad\nand the CIT(A), vide letter dated 28.7.2022 has called for a remand report on the\nabove information also

KOLORS HEALTHCARE LLP,HYDERABAD vs. ACIT., CENTRAL CIRCLE-3(4), HYDERABAD

In the result, the appeal of the assessee in ITA No

Bench: SHRI LALIET KUMAR (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)

Section 44AA of the Act and that it\nis duly audited by a Chartered Accountant wherein no discrepancies are\nfound.\n4.4 The Ld. CIT(A) erred in not appreciating that the receipts through\ncards as per the books of account are more than those through cards as\nper the data retrieved from the cloud storage and digital evidence which