KYORI INFRASTRUCTURE PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: S/Shri A .Mohan Alankamony & Chandra Mohan Gargassessment Year : 2015-16 M/S. Kyori Infrastructure Pvt Vs. Dcit, Circle-2(1), Ltd., C/O. P Murali & Co., Ca, Hyderabad 6-3-655/2/3, Samajiguda, Hyderabad Pan/Gir No. (Appellant) .. ( Respondent) Assessee By : Shri P.Murali Mohan Rao, Ar Revenue By : Shri B.Bala Krishna Cit (Dr) Date Of Hearing : 13/10/ 2021 Date Of Pronouncement : 24/01/2022 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order U/S.263 Of The Act Of The Pr. Cit-2, Hyderabad Dated 26.2.2020 For The Assessment Year 2015-16. 2. Facts Of The Case Are That The Assessee Company Is Engaged In The Business Of Construction & Infrastructure Activity. It Filed The Return Of Income For Assessment Year 2015-16 On 30.9.2015 Declaring Total Income At Rs.15,58,050/-. The Case Was Taken Up For Scrutiny & The Assessment Was Completed U/S.143(3) Of The Act On 27.12.2017 With The Assessed Income At Rs.15,58,050/-. P A G E 1 | 11 Assessment Year : 2015-16

section 45(2) of the Act is that there has to be the element of the profits or gains arising from the transfer by way of conversion of capital asset or its treatment by him as stock-in-trade of his business; c) That the asset - viz., pooling of lands the asset was accounted as stock-in-trade during

MSN PHARMACHEM PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeals filed by the assessee for assessment years 2019-20 and 2020-21 are partly allowed

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

45,03,085 4,39,01,458 2,59,09,243 11,32,72,843 9,03,945 82,37,30,191 5.2. During the course of assessment proceedings, in the written submissions furnished to the AO on 21-4-2022 and 16.08.2022 in response to notice under Section 142(1) of the Act, the appellant reiterated the explanation

MSN PHARMACHEM PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeals filed by the assessee for assessment years 2019-20 and 2020-21 are partly allowed

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

45,03,085 4,39,01,458 2,59,09,243 11,32,72,843 9,03,945 82,37,30,191 5.2. During the course of assessment proceedings, in the written submissions furnished to the AO on 21-4-2022 and 16.08.2022 in response to notice under Section 142(1) of the Act, the appellant reiterated the explanation

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

68 in respect of alleged bogus transactions with M/s. Lakshin Infradev Pvt. Ltd: Rs. 1,29,91,000/-, determined he income of the assessee company vide his order passed under section 143(3) r.w.s 144B of the Act, dated 26/09/2021 at Rs. 256,91,48,125/-. 5. Aggrieved, the assessee company carried the matter in appeal before

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeal of assessee in ITA No

45,03,085 | 4,39,01,458 | 2,59,09,243 | 11,32,72,843 | 9,03,945 | 82,37,30,191\n5. 2. During the course of assessment proceedings, in the written submissions furnished to the AO on 21-4-2022 in response to notice under Section 142(1) of the Act, the appellant reiterated the explanation furnished

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

45,03,085 | 4,39,01,458 | 2,59,09,243 | 11,32,72,843 | 9,03,945 | 82,37,30,191 |\n5. 2. During the course of assessment proceedings, in the written submissions furnished to the AO on 21-4-2022 in response to notice under Section 142(1) of the Act, the appellant reiterated the explanation furnished

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

68 in respect\nof alleged bogus transactions with M/s. Lakshin Infradev Pvt. Ltd: Rs.\n1,29,91,000/-, determined he income of the assessee company vide his\norder passed under section 143(3) r.w.s 144B of the Act, dated\n26/09/2021 at Rs. 256,91,48,125/-.\n5.\nAggrieved, the assessee company carried the matter in appeal\nbefore

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

45 at Mamidipally Village, Saroornagar Mandal, RR District as evidenced by page no. 6 to 8 of seized material marked as Annexure A/KMK/OFF/07. 09. On the facts and in the circumstances of the case, and in law, the learned CIT(A) erred in law in directing to treat the amount of Rs.4.70 Cr as business income when the same

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

45 at Mamidipally Village, Saroornagar Mandal, RR District as evidenced by page no. 6 to 8 of seized material marked as Annexure A/KMK/OFF/07. 09. On the facts and in the circumstances of the case, and in law, the learned CIT(A) erred in law in directing to treat the amount of Rs.4.70 Cr as business income when the same

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

45 at Mamidipally Village, Saroornagar Mandal, RR District as evidenced by page no. 6 to 8 of seized material marked as Annexure A/KMK/OFF/07. 09. On the facts and in the circumstances of the case, and in law, the learned CIT(A) erred in law in directing to treat the amount of Rs.4.70 Cr as business income when the same

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

45 at Mamidipally Village, Saroornagar Mandal, RR District as evidenced by page no. 6 to 8 of seized material marked as Annexure A/KMK/OFF/07. 09. On the facts and in the circumstances of the case, and in law, the learned CIT(A) erred in law in directing to treat the amount of Rs.4.70 Cr as business income when the same

ACIT., CENTRAL CIRCLE-2(4), , HYDERABAD vs. M/S. MAITHRI LABORATORIES PRIVATE LIMITED, HYDERABAD

In the result, both the appeals of assessee and the Revenue\nare partly allowed

45,03,085\n4,39,01,458\n2,59,09,243\n11,32,72,843\n9,03,945\n82,37,30,191\n\n5. 2. During the course of assessment proceedings, in the written\nsubmissions furnished to the AO on 21-4-2022 in response to\nnotice under Section 142(1) of the Act, the appellant reiterated the\nexplanation

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. M/S. MSN LIFE SCIENCES PVT. LTD., HYDERABAD

68,051 |\n| 1,53,47,177 |\n\n| Particulars | A/c of MSN Laboratories Pvt Ltd in the\n| books of the appellant.\n| Amount in (Rs.) |\n| Opening debit balance | 299,95,35,547 |\n| Add: Sales | 100,43,24,928 |\n| Add: Payments (net of rent) | 506,40,05,020 |\n| Less: Purchases | 2,13,45

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. MSN PHARMACHEM PVT. LTD., HYDERABAD

In the result, the appeal of assessee in ITA No

45,03,085\n4,39,01,458\n2,59,09,243\n11,32,72,843\n9,03,945\n82,37,30,191\n5. 2. During the course of assessment proceedings, in the written\nsubmissions furnished to the AO on 21-4-2022 in response to\nnotice under Section 142(1) of the Act, the appellant reiterated the\nexplanation furnished

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeal of assessee in ITA No

45,03,085\n4,39,01,458\n2,59,09,243\n11,32,72,843\n9,03,945\n82,37,30,191\n5. 2. During the course of assessment proceedings, in the written\nsubmissions furnished to the AO on 21-4-2022 in response to\nnotice under Section 142(1) of the Act, the appellant reiterated the\nexplanation furnished

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeal of assessee in ITA No

45,03,085\n4,39,01,458\n2,59,09,243\n11,32,72,843\n9,03,945\n82,37,30,191\n5.2. During the course of assessment proceedings, in the written\nsubmissions furnished to the AO on 21-4-2022 in response to\nnotice under Section 142(1) of the Act, the appellant reiterated the\nexplanation furnished

MSN PHARMACHEM PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Appeal are dismissed

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

45,03,085 4,39,01,458 2,59,09,243 11,32,72,843 9,03,945 82,37,30,191 18. During the course of assessment proceedings, in the written submissions furnished to the AO in response to notice under Section 142(1) of the Act, the appellant reiterated the explanation furnished by MSN Reddy, the Managing

MSN PHARMACHEM PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

Appeal are dismissed

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

45,03,085 4,39,01,458 2,59,09,243 11,32,72,843 9,03,945 82,37,30,191 18. During the course of assessment proceedings, in the written submissions furnished to the AO in response to notice under Section 142(1) of the Act, the appellant reiterated the explanation furnished by MSN Reddy, the Managing

MAITHRI LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

section 2(22)(e) and keeping in view\nthe flexibility required in practical business situations, the AO treated\nthe payments made by the appellant company to the extent of 150%\nof the purchases made from the recipient companies as the payments\nmade in the ordinary course of business and the payments made in\nexcess of such