KALVA UMADEVI ,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-1(4), , VISAKHPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.443/Viz/2018 (धििाारण िर्ा/ Assessment Year: 2009-2010) Smt.Kalva Uma Devi Income Tax Officer 15-2-17, Srinilayam Ward-1(4) Maharanipeta Visakhapatnam Visakhapatnam [Pan : Aewpk3080J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri C.V.S.Murthy, Ar प्रत्यार्थी की ओर से/ Respondent By : Smt. Suman Malik, Dr

11. On perusal of the above provisions, it is clear that the where the cost 9 I.T.A. No.443/Viz/2018 Smt.Kalva Uma Devi, Visakhapatnam ofthe new asset is not less than the net consideration in respect of the original asset, the whole of such capital gain shall not be charged under section 45. What is therefore relevant is the investment

INCOMETAX OFFICER, WARD-3(1), VISAKHAPATNAM vs. SURENDRA NATH GUBBALA, VISAKHAPATNAM

Bench: Us:

capital gain” on the sale of the subject properties during the year under consideration, had reduced the abovementioned payments aggregating to Rs. 9 crores (supra) as an expenditure that was claimed by him to have been incurred “wholly and exclusively in connection with transfer” under section 48(i) of the Act. The A.O. disallowed the claim observing

YALAMANCHILI NEELIMA,,GUNTUR vs. THE INCOME TAX OFFICER, WARD-2(2),, GUNTUR

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

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

section 53A of the Transfer of Property Act considered the property as 3 transferred during the assessment year 2016-17. The Ld. AO noticing that the assessee has not filed return of income for the AY 2016-17 believed that the income chargeable to tax escaped assessment and notice u/s. 148 of the Act was issued and served

R.VENKATA DHANA LAKSHMI LEGAL HEIR OF LATE R. VENKATESWARA RAO,LINGAPALEM MANDAL vs. THE INCOME TAX OFFICER, WARD-2, , ELURU

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

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.121/Viz/2020 (निर्धारण वर्ा/Assessment Year:2010-11) R.Venkata Dhana Lakshmi Vs. Income Tax Officer (Wife & Legal Heir Of Late Ward-2 R.Venkateswara Rao) Eluru Prop : Bharthi Teja Constructions D.No.3-158, Western Street Dharmajigudem Lingapalem Mandal West Godavari [Pan : Agfpr6873H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

5 ITA No.121/Viz/2020, A.Y.2010-11 R.Venkata Dhana Lakshmi, West Godavari Dist. the assessee has neither submitted the capital gains liability nor claimed any exemption. During the course of assessment proceedings, the assessee submitted the details of some of flats and claimed the exemption u/s 54F for purchase new flat in Victory House, Kukkatpally for a consideration of Rs. 35.40 lacs

DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM vs. RAJA RAO PARACHURI, VISAKHAPATNAM

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.374/Viz/2024 (िनधा"रण वष"/Assessment Year: 2013-14) Deputy Commissioner Of Vs. Raja Rao Parachuri, Income Tax, Visakhapatnam. Visakhapatnam. Pan: Aatpp2493B (Appellant) (Respondent) िनधा"रती "ारा/Assessee By: P. Murali & Co राज" व "ारा/Revenue By: Shri Badicala Yadagiri, Cit-Dr सुनवाई की तारीख/Date Of 07/08/2025 Hearing: घोषणा की तारीख/Date Of 08/10/2025 Pronouncement: आदेश / Order Per. Ravish Sood, Jm :

Section 143(3) r.w.s 147 of the Act, dated 30.10.2019, determined the income of the assessee at Rs. 13,10,30,550/- after making two additions, viz. (i). Long-term capital gains (on JDA): Rs. 11,26,01,500/-; and (ii) Unexplained cash deposits: Rs. 10,50,000/-. 5

SMT. KANCHARLAPALLI HEMALATHA,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, the appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.322/Viz/2016 (धििाारण िर्ा/Assessment Year:2010-2011) Smt.Kancharlapalli Hemalatha Vs. Income Tax Officer Flat No.102, Sri Kesava Heights Ward-2(3) D.No.59A-21/3-5/2 Vijayawada Vizayanagar Colony Vijayawada [Pan :Bcmpk6735M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

11. In this regard, it is proposed to bring to tax the long term capital gains on sale of the above property for the Asst. Year 2010-11. In this regard, you are requested to file your objections, if any, on or before 20/09/2012, failing which it will be presumed that you do not have any objection for the above

SANNIDHI SRI RAMACHANDRA MURTHY (HUF),RAJAHMUNDRY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A. No. 230/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2013-14) Sannidhi Sriramachandra Murthy (Huf) V. The Assistant Commissioner Of D.No. 42-10-30/31 Income Tax, Circle-1 Income Tax Office, Aayakar Bhavan Sree Ramachandra Murthy Nilayam Veerabhadrapuram Mangalavarapu Peta Rajahmundry-533105 Rajahmundry – 533101 Andhra Pradesh Andhra Pradesh [Pan: Aaxhs4350L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व / Assessee Represented By : Shri Gvn Hari, Ar राजस्व का प्रतततितित्व / Department Represented By : Dr. Satyasaai Rath, Cit(Dr)

5 I.T.A. No. 230/VIZ/2024 Sannidhi Sriramachandra Murthy (HUF) the Co-ordinate Bench of Jaipur in ITA No. 144/JP/2023 in the case of Guruvendra Singh v. ACIT dated 07.12.2023 held that capital gains arise in the period when the stock-in-trade is sold by the assessee. He therefore pleaded that the deduction claimed by the assessee under section

ARABOLU VENKATA NAGA DEEPATHI REPRESENTED BY POWER OF ATTORNEY HOLDER, N. SATYARAMANUJAMM ,VISAKHAPATNAM vs. INCOME TAX OFFICER(INTERNATIONAL TAXATION), VISAKHAPATNAM

In the result, the appeal fails and the same is hereby dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.178/Viz/2018 (ननधधारण वर्ा/ Assessment Year : 2010-11) Smt.Arabolu Venkata Naga Deepthi Vs. Income Tax Officer Rep. By Power Of Attorney Holder (International Taxation) Smt. N.Satyaramanujam Visakhapatnam Flat No.403, Dhanna Apartments Seethammadhara Visakhapatnam [Pan : Atcpa6413A] (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent)

Capital Gains tax liability by the authorities below. If that be so, the Assessee-HUF in the present case, in our opinion, complied with the conditions of Section 54 of the Act in its true letter and spirit and, therefore was entitled to the deduction under section 54 of the Act for the entire investment in the properties and securities

SIVAKAMA SUNDAR MANTHRAVADI,UNITED KINGDOM vs. COMMISSIONER OF INCOME TAX(IT AND TP), HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.292/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2013-14) Sivakama Sundar Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1372 N Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.295/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Vidyavathi Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1370 Q Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधर्थीकीओरसे/ Assessees By : Ms. P. Chandini, Ar प्रत्यधर्थीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुिवधईकीतधरीख/ Date Of Hearing : 27/03/2024 घोर्णधकीतधरीख/Date Of : 28/05/2024 Pronouncement O R D E R Per S. Balakrishnan:

5. At the outset, the Ld. Authorized Representative [AR] argued that the assessee has entered into a Joint Development agreement on 21/7/2008 and has claimed deduction U/s. 54 of the Act for extinguishing rights on the 40% share of the land given to the developer M/s. MSR Life Care Services Pvt. Ltd. The Ld. AR also argued that based

VIDYAVATHI MANTHRAVADI,UNITED KINGDOM vs. COMMISSIONER OF INCOME TAX(IT AND TP), HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.292/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2013-14) Sivakama Sundar Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1372 N Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.295/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Vidyavathi Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1370 Q Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधर्थीकीओरसे/ Assessees By : Ms. P. Chandini, Ar प्रत्यधर्थीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुिवधईकीतधरीख/ Date Of Hearing : 27/03/2024 घोर्णधकीतधरीख/Date Of : 28/05/2024 Pronouncement O R D E R Per S. Balakrishnan:

5. At the outset, the Ld. Authorized Representative [AR] argued that the assessee has entered into a Joint Development agreement on 21/7/2008 and has claimed deduction U/s. 54 of the Act for extinguishing rights on the 40% share of the land given to the developer M/s. MSR Life Care Services Pvt. Ltd. The Ld. AR also argued that based

APPANA HARI NAGA VENKATA RAO,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleappana Hari Naga Venkat Rao, Vs. Ito, Ward-1(4), D.No. 15-32-7, Gokul Road, Visakhapatnam. Maharanipeta, Visakhapatnam. Pan No. Adopa 5287 G (Appellant) (Respondent)

capital gains shall be computed on the basis of such consideration under section 48 of the Income-tax Act. The scope of section 50C was extended w.e.f. A.Y. 2010- 11 to the transaction which were executed through agreement to sell or power of attorney by inserting the word "assessable" alongwith words "the value so adopted (Appana Hari Naga Venkat

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VIJAYAWADA vs. SRI JASTI SRIDHAR BABU, KESARAPALLI

In the result, appeal filed by the Revenue Department stands dismissed

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

capital gains income is chargeable to tax in respect of the said transfer of the land. 6.1 Ld. DR vehemently argued that law does not permit to change the stand which has taken at the initial stage and new claim cannot be entertained without revising the original return of income. Ld. DR in support of his contention also relied upon

MURALI MOHAN REDDY BONTHU,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-3(1), VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.266/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2017-18) Murali Mohan Reddy Bonthu V. Income Tax Officer – Ward – 3(1) 14/4, Flat No. 503 Cr Building, 1St Floor Annex Sree Satya Sai Towers M.G. Road, Vijayawada – 522002 Andhra Pradesh Main Road Nunna Andhra Pradesh - 521212 [Pan:Aiopb5077E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri I. Kama Sastry, Ca राजस्व का प्रतततितित्व/ Department Represented By : Dr.Aparna Villuri, Sr.Ar

5 are general in nature and needs no adjudication. 6. Ground No. 2 relates to treating the capital gains as short-term gains by the revenue. On this issue, Ld. Authorised Representative [hereinafter Page. No 3 I.T.A.No.266/VIZ/2024 Murali Mohan Reddy Bonthu “Ld.AR”] submitted that assessee has sold two flats during the impugned assessment year for a consideration of Rs.41

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

section 153A r.w.s, 143(3). 9 I.T.A. No.577-579 /Viz/2013 and 581/Viz/2013 ,A.Y. 2007-08 Syed. Mohammed Shariff, Syed Yokub Shariff, Syed Ibrahim Shariff and Syed Rehman Shariff, Visakhapatnam 5. The entire assessment is ab initio void for the reason that the reasons recorded for reopening the assessment have not been communicated to the .assessee though the same have been specifically

SYED IBRAHIM 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

section 153A r.w.s, 143(3). 9 I.T.A. No.577-579 /Viz/2013 and 581/Viz/2013 ,A.Y. 2007-08 Syed. Mohammed Shariff, Syed Yokub Shariff, Syed Ibrahim Shariff and Syed Rehman Shariff, Visakhapatnam 5. The entire assessment is ab initio void for the reason that the reasons recorded for reopening the assessment have not been communicated to the .assessee though the same have been specifically

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

section 153A r.w.s, 143(3). 9 I.T.A. No.577-579 /Viz/2013 and 581/Viz/2013 ,A.Y. 2007-08 Syed. Mohammed Shariff, Syed Yokub Shariff, Syed Ibrahim Shariff and Syed Rehman Shariff, Visakhapatnam 5. The entire assessment is ab initio void for the reason that the reasons recorded for reopening the assessment have not been communicated to the .assessee though the same have been specifically

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

section 153A r.w.s, 143(3). 9 I.T.A. No.577-579 /Viz/2013 and 581/Viz/2013 ,A.Y. 2007-08 Syed. Mohammed Shariff, Syed Yokub Shariff, Syed Ibrahim Shariff and Syed Rehman Shariff, Visakhapatnam 5. The entire assessment is ab initio void for the reason that the reasons recorded for reopening the assessment have not been communicated to the .assessee though the same have been specifically

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), , VISAKHAPATNAM vs. DEVI SEA FOODS LIMITED, , VISAKHAPATNAM

In the result, appeal of the revenue as well as the cross objections of the assessee are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.497/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) Asst.Commissioner Of Income Tax Vs M/S Devi Sea Foods Limited Circle-3(1) D.No.50-1-51/1 Visakhapatnam Asr Nagar, Seethammadhara Visakhapatnam [Pan : Aabcd0248B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.130/Viz/2019 Arising Out Of I.T.A.No.497/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) M/S Devi Sea Foods Limited Vs Asst.Commissioner Of D.No.50-1-51/1 Income Tax Asr Nagar Circle-3(1) Seethammadhara Visakhapatnam Visakhapatnam [Pan : Aabcd0248B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व कीओर से /Revenue By : Shri S.Ravi Shankar Narayan, Cit, Dr निर्धाऩरती की ओर से / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 08.06.2020 घोर्णध की तधरीख/Date Of Pronouncement : 19.06.2020

section 48 and 49 as required in the case of normal capital gains. Hence, observed that there is no need to consider indexed cost of acquisition or improvement in the slump sale. Thus, held that the long term capital gains is the difference between lump sum consideration and net worth of undertaking. Accordingly, directed the AO to compute the long