SYED YAKUB SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

capital gains returned by the appellant/assessee and confirmed by the Ld. CIT(Appeals) is erroneous and is against the provisions of law and also against the judicial opinion on the same. 8 . The appellant craves leave to add to, amend or alter the above grounds of appeal and all the above grounds are without prejudice to one another

SYED MOHAMMED SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

capital gains returned by the appellant/assessee and confirmed by the Ld. CIT(Appeals) is erroneous and is against the provisions of law and also against the judicial opinion on the same. 8 . The appellant craves leave to add to, amend or alter the above grounds of appeal and all the above grounds are without prejudice to one another

SYED RAHMAN SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

capital gains returned by the appellant/assessee and confirmed by the Ld. CIT(Appeals) is erroneous and is against the provisions of law and also against the judicial opinion on the same. 8 . The appellant craves leave to add to, amend or alter the above grounds of appeal and all the above grounds are without prejudice to one another

ASSISTANT COMMISSIONER OF INCOME TAX , GUNTUR vs. MS.VIJAYASAI LAKSHMI SRINIVASA COTTON MILLS, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

search and seizure proceedings, Shri Tandra Ramesh, Director of JBRMPL has not mentioned the name of M/s. Vijayasai Laxmi Srinivasa Cotton Mills in any of the sworn statements recorded on 02.01.2017, 03.01.2017, 17.02.2017 and 24.02.2017 and neither in the Affidavit filed before ADIT(Inv), Unit II(1), Hyderabad on 03.03.2017. However, he has mentioned the name of the assessee

INCOME TAX OFFICER, WARD-2(1), GUNTUR vs. SHIVANI COTTON INDUSTRIES PRIVATE LIMITED, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

search and seizure proceedings, Shri Tandra Ramesh, Director of JBRMPL has not mentioned the name of M/s. Vijayasai Laxmi Srinivasa Cotton Mills in any of the sworn statements recorded on 02.01.2017, 03.01.2017, 17.02.2017 and 24.02.2017 and neither in the Affidavit filed before ADIT(Inv), Unit II(1), Hyderabad on 03.03.2017. However, he has mentioned the name of the assessee

INCOME TAX OFFICER, GUNTUR vs. MADHUSUSHANA VENKATA SUBBA RAO POTTI, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

search and seizure proceedings, Shri Tandra Ramesh, Director of JBRMPL has not mentioned the name of M/s. Vijayasai Laxmi Srinivasa Cotton Mills in any of the sworn statements recorded on 02.01.2017, 03.01.2017, 17.02.2017 and 24.02.2017 and neither in the Affidavit filed before ADIT(Inv), Unit II(1), Hyderabad on 03.03.2017. However, he has mentioned the name of the assessee

INCOME TAX OFFICER, WARD- 1(1),, GUNTUR vs. POTTI KUMARA NAGA VENKATA SAI CHAKRAVARTHY, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

search and seizure proceedings, Shri Tandra Ramesh, Director of JBRMPL has not mentioned the name of M/s. Vijayasai Laxmi Srinivasa Cotton Mills in any of the sworn statements recorded on 02.01.2017, 03.01.2017, 17.02.2017 and 24.02.2017 and neither in the Affidavit filed before ADIT(Inv), Unit II(1), Hyderabad on 03.03.2017. However, he has mentioned the name of the assessee

SRI GOLUGURI NAGI REDDY,VIJAYAWADA vs. AASISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, RAJAHMUNDRY

In the result, appeal of the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.139/Viz/2022 ("नधा"रणवष"/ Assessment Year :2014-15) Sri Goluguri Nagi Reddy, Vs. Acit, Flat No.5, Shiridi Sai Apartments, Central Circle-1, Balasumudi, Bhimavaram. Rajahmundry. Pan: Abkpg 1138 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) आयकरअपीलसं./ I.T.A. No.140/Viz/2022 ("नधा"रणवष"/ Assessment Year :2017-18) Sri Goluguri Nagi Reddy, Vs. Acit, Flat No.5, Shiridi Sai Apartments, Central Circle-1, Balasumudi, Bhimavaram. Rajahmundry. Pan: Abkpg1138 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri M.V. Prasad, Ca ""याथ"क"ओरसे/ Revenue By : Sri Mn Murthy Naik, Cit-Dr

seizure operation 2250.41 gms of Gold Jewellery was found and out of that 400.99 gms was seized from the premises of the assessee. When the assessee was confronted to explain the sources 11 for the jewellery, the assessee in his statement recorded u/s. 132(4) of the Act admitted that he has purchased Gold Jewellery and submitted four bills

SRI GOLUGURI NAGI REDDY,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, RAJAHMUNDRY

In the result, appeal of the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.139/Viz/2022 ("नधा"रणवष"/ Assessment Year :2014-15) Sri Goluguri Nagi Reddy, Vs. Acit, Flat No.5, Shiridi Sai Apartments, Central Circle-1, Balasumudi, Bhimavaram. Rajahmundry. Pan: Abkpg 1138 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) आयकरअपीलसं./ I.T.A. No.140/Viz/2022 ("नधा"रणवष"/ Assessment Year :2017-18) Sri Goluguri Nagi Reddy, Vs. Acit, Flat No.5, Shiridi Sai Apartments, Central Circle-1, Balasumudi, Bhimavaram. Rajahmundry. Pan: Abkpg1138 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri M.V. Prasad, Ca ""याथ"क"ओरसे/ Revenue By : Sri Mn Murthy Naik, Cit-Dr

seizure operation 2250.41 gms of Gold Jewellery was found and out of that 400.99 gms was seized from the premises of the assessee. When the assessee was confronted to explain the sources 11 for the jewellery, the assessee in his statement recorded u/s. 132(4) of the Act admitted that he has purchased Gold Jewellery and submitted four bills

SANTOSH AGRAWAL,CHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRLCE-1, VISAKHAPATNAM

capital gains, and made investments through shell companies, leading to additions under various sections. The assessee's group also faced a search and seizure

SATHI TRINATHA REDDY,EAST GODAVARI DIST vs. PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

search and seizure operation U/s. 132 was conducted in this case on 28/03/2018 wherein certain incriminating material was found and seized. The Ld. AO issued a notice U/s. 153A of the Act on 04/01/2021. In response to the said notice, the assessee filed the return of income on 06/02/2021 admitting the same income as admitted in his original return

ASHOK KUMAR AGRAWAL,VISAKHAPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

capital gains and other sources, filed return of\nincome for the A.Y. 2006-07 admitting a total income of Rs. 3,68,980/-. The\nreturn was summarily processed under section 143(1) of the Income Tax Act,\n1961 [hereinafter in short “the Act"]. Assessee is the Chairman-cum-\nManaging Director of M/s. Maa Mahamaya Industries Limited

KARUTURI VIJAYA BHARATHI, ,GUNTUR vs. THE INCOME TAX OFFICER, WARD-1(1), , GUNTUR

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blesmt. Karuturi Vijaya Bharathi, Vs. Ito, Ward-1(1), D.No. 1-2-8, Presidency Guntur. Apartment, 1St Floor, 1St Line, Jkc Nagar, Guntur. Pan No. Blupk 0068 C (Appellant) (Respondent)

capital gains and explained the source. Except the statement given by Sri Ganta Punna Rao, no other evidence is available on record to suggest that the assessee paid over and above the sale consideration recorded in the sale deed No. 5751/2010 dated 02/08/2010. When there is a registered sale deed, which clearly shows the sale consideration, prima facie

R SUHASINI,BHEEMUNIPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 (I/C),, VISAKHAPATNAM

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blesmt. Rajulapalli Suhasini, Vs. Dcit, Central Circle-1, D.No. 12-24-117, Thota Visakhapatnam. Veedhi, Bheemunipatnam, Visakhapatnam District. Pan No. Agfpr 7302 D (Appellant) (Respondent)

seizure operation under section 132 of the Income Tax Act, 1961 (hereinafter referred to as 'Act') was conducted in the case of Sri Rapeti Govind on 12/09/2007. During the course of search, certain information relating to the sale of property by the assessee for a consideration of Rs. 9,43,875/- against the market value

KAKILETI SATYANARAYANA,MANDAPETA vs. THE INCOME TAX OFFICER, WARD-1, AMALAPURAM

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble

search and seizure was conducted in the case of Vaibhav Kankatala Group on 09/01/2009 and certain incriminating documents relating to the assessee were seized. The case has (Chennu Bhaskara Rao) been centralized to DCIT, Central Circle-1, Visakhapatnam. A notice u/sec. 153C was issued to the assessee. In response to the notice, assessee has submitted that return has already been

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR vs. POLISETTY SOMASUNDARAM PVT LTD, GUNTUR

In the result, appeal of the Revenue is dismissed and the Cross Objection raised by the assessee is disposed off as mentioned herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.248/Viz/2022 ("नधा"रण वष" / Assessment Year :2015-16) The Deputy Commissioner Of Vs. M/S. Polisetty Income Tax, Central Circle-1, Somasundaram Pvt Ltd., 3Rd Floor, Rajkamal Complex, D.No. 3-30-17, Sundaram Lakshmipuram Main Road, Colony, Ring Road, Guntur-522 007, Gujjanagundla, Guntur, Andhra Pradesh. Andhra Pradesh-522006. Pan: Aabcp 3168 Q (अपीलाथ"/ Appellant) (""यथ"/ Respondent) C.O. No. 03/Viz/2023 (In आयकर अपील सं./ I.T.A. No.248/Viz/2022) ("नधा"रण वष" / Assessment Year :2015-16) M/S. Polisetty Somasundaram Pvt Vs. The Deputy Commissioner Of Ltd., Income Tax, Central Circle-1, D.No. 3-30-17, Sundaram Colony, 3Rd Floor, Rajkamal Complex, Ring Road, Gujjanagundla, Lakshmipuram Main Road, Guntur, Andhra Pradesh-522006. Guntur-522 007, Pan: Aabcp 3168 Q Andhra Pradesh. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Assessee By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Revenue By : Dr Satya Sai Rath, Cit-Dr

Capital Gains’ of Rs. 23,87,98,274/-. Subsequently, the assessment was completed U/s. 143(3) wherein the Ld. AO made an addition of Rs. 5,86,00,000/- towards LTCG by disallowing the cost of improvement. A search and seizure

G VIJAYA RAGHAVA RAJU,KAKINADA vs. ACIT, CENTRAL CIRCLE-2, GUNTUR

In the result, assessee’s appeals in ITA Nos

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

seizure operation U/s. 132 was conducted in the case of M/s. Apex Frozen Foods Limited on 18/01/2018, in which the assessee is Purchase Manager of the company. Subsequently, search proceedings in the residence of the assessee were carried out on 19/01/2018. During the course of search proceedings, based on the incriminating material found, on being asked the assessee admitted

SHRI G VIJAYA RAGHAVA RAJU,KAKINADA vs. ACIT, CENTRAL CIRCLE-2, GUNTUR

In the result, assessee’s appeals in ITA Nos

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

seizure operation U/s. 132 was conducted in the case of M/s. Apex Frozen Foods Limited on 18/01/2018, in which the assessee is Purchase Manager of the company. Subsequently, search proceedings in the residence of the assessee were carried out on 19/01/2018. During the course of search proceedings, based on the incriminating material found, on being asked the assessee admitted

SHRI G VIJAYA RAGHAVA RAJU,KAKINADA vs. ACIT, CENTRAL CIRCLE-2, GUNTUR

In the result, assessee’s appeals in ITA Nos

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

seizure operation U/s. 132 was conducted in the case of M/s. Apex Frozen Foods Limited on 18/01/2018, in which the assessee is Purchase Manager of the company. Subsequently, search proceedings in the residence of the assessee were carried out on 19/01/2018. During the course of search proceedings, based on the incriminating material found, on being asked the assessee admitted