SWARAJYAM DONTIREDDY,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

1 to 12 have decided to entrust their property in an extent of Ac. 9.13 cents as above for the development of the same into a residential complex and the Developer evinced interest in development of the residential complex in the Scheduled Land by obtaining all the requisite permits and sanction of plans from the concerned authorities for the proposed

VEERAREDDY GOGULA,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

1 to 12 have decided to entrust their property in an extent of Ac. 9.13 cents as above for the development of the same into a residential complex and the Developer evinced interest in development of the residential complex in the Scheduled Land by obtaining all the requisite permits and sanction of plans from the concerned authorities for the proposed

KONDA SRINIVASA REDDY,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

1 to 12 have decided to entrust their property in an extent of Ac. 9.13 cents as above for the development of the same into a residential complex and the Developer evinced interest in development of the residential complex in the Scheduled Land by obtaining all the requisite permits and sanction of plans from the concerned authorities for the proposed

VIJAYA LAKSHMI RAVULA,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

1 to 12 have decided to entrust their property in an extent of Ac. 9.13 cents as above for the development of the same into a residential complex and the Developer evinced interest in development of the residential complex in the Scheduled Land by obtaining all the requisite permits and sanction of plans from the concerned authorities for the proposed

VENKATARAM SPINNING MILLS PRIVATE LIMITED,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, assessee appeal is partly allowed

Bench: Shri Laliet Kumar & Shri Balakrishnan. Sassessment Year: 2017-18 Venkataram Spinning Mills Vs. The Income Tax Officer, Ward – 2(1), Private Limited, Guntur. Guntur. Pan : Aafcv2151H. (Appellant) (Respondent) Assessee By: Shri Gvn Hari, Ar. Revenue By: Shri Ld.Dr. Satyasai Rath, Cit- Dr. Date Of Hearing: 20.01.2025 Date Of Pronouncement: 04.02.2025

1), calling for financial details and property-related documents. In response, the assessee submitted that the land was initially purchased to construct a spinning mill but was later sold due to non-materialization of the project and claimed that the land was agricultural and not a capital asset. However, the Assessing Officer observed that the land was situated within

T.NAGI REDDY (HUF),,VISAKHAPATNAM vs. THE ACIT, CENTRAL CIRCLE - 2,, VISAKHAPATNAM

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blet. Nagireddy (Huf), Vs. Acit, Central Circle-2, D.No. 17-40-23, Visakhapatnam. Pedagantyada, Visakhapatnam. Pan No. Aaaht 4815 N (Appellant) (Respondent)

1 & 4 are general in nature, no adjudication is required, the same are dismissed. 3. Ground Nos. 2 & 3 are relevant for adjudication, have been extracted as under:- [T. Nagireddy (HUF)] “2. The ld. CIT(A) ought to have held tht the land sold is not a capital asset and as such levy of capital gains tax is not justified

THE KANAKAMAHALAKSHMI CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

12. In the assessment order, the Assessing Officer has noted that the assessee had claimed an amount of Rs. 7,72,022/- in the profit & loss account as ‘interest on deficit cover fund’. The Assessing Officer called upon the assessee to show-cause as to why the interest on deficit cover fund should not be treated as appropriation of profit

THE KANAKAMAHALAKSHMI CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

12. In the assessment order, the Assessing Officer has noted that the assessee had claimed an amount of Rs. 7,72,022/- in the profit & loss account as ‘interest on deficit cover fund’. The Assessing Officer called upon the assessee to show-cause as to why the interest on deficit cover fund should not be treated as appropriation of profit

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

AC 7 (HL) as the „sap and life' of the business. Architecturally, it has been described as the 'cement' binding together the business and its assets as whole and a going and developing concern". 7 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) 15. In the present case, consequent upon amalgamation

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

AC 7 (HL) as the „sap and life' of the business. Architecturally, it has been described as the 'cement' binding together the business and its assets as whole and a going and developing concern". 7 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) 15. In the present case, consequent upon amalgamation

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

AC 7 (HL) as the „sap and life' of the business. Architecturally, it has been described as the 'cement' binding together the business and its assets as whole and a going and developing concern". 7 ITA Nos. 4-6/VIZ/2014 C.O.Nos.13-15/VIZ/2016 (The Andhra Pradesh Paper Mills Ltd.) 15. In the present case, consequent upon amalgamation

ERRAMILLI GURUNADHA SASTRY,,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2),, VISAKHAPATNAM

In the result, appeals of the assessee are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.424 & 425/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2007-08 & 2008-09 Respectively) Erramilli Gurunadha Sastry Vs. Income Tax Officer D.No.50-97-3 Ward-3(2) Seethammadhara Visakhapatnam Visakhapatnam [Pan : Aacpe5039M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri Gvn Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 28.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 30.09.2019 आदेश /O R D E R

AC Sheet admeasuring 250 sft. at D.No.55-6-49/2, Survey No.29 Part of Maddilapalem Village, Visakhapatnam to Sri Maradana Gurumurthy, Tatichetla Palem, Visakhapatnam for a consideration of Rs.4,00,000/- vide registered sale deed bearing No.937/2007 dated 06.02.2007. The market value of the property as per the stamp duty was fixed at Rs.9,34,800/-. Therefore

ERRAMILLI GURUNADHA SASTRY,,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2), , VISAKHAPATNAM

In the result, appeals of the assessee are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.424 & 425/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2007-08 & 2008-09 Respectively) Erramilli Gurunadha Sastry Vs. Income Tax Officer D.No.50-97-3 Ward-3(2) Seethammadhara Visakhapatnam Visakhapatnam [Pan : Aacpe5039M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri Gvn Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 28.08.2019 घोर्णध की तधरीख/Date Of Pronouncement : 30.09.2019 आदेश /O R D E R

AC Sheet admeasuring 250 sft. at D.No.55-6-49/2, Survey No.29 Part of Maddilapalem Village, Visakhapatnam to Sri Maradana Gurumurthy, Tatichetla Palem, Visakhapatnam for a consideration of Rs.4,00,000/- vide registered sale deed bearing No.937/2007 dated 06.02.2007. The market value of the property as per the stamp duty was fixed at Rs.9,34,800/-. Therefore

DCIT, CIRCLE -3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

Bench: Shri Ravish Sood & Shri Balakrishnan S.

capital towards construction of properties, Page 32/Para 2.33 of the CIT(A) order. We, thus, are of a firm conviction that, as the subject agreements were filed by the assessee company in the course of the assessment proceedings, therefore, the grievance of the revenue, that the CIT(A) had admitted the same as additional evidence, which, in turn, is based

DCIT, CIRCLE - 3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

Bench: Shri Ravish Sood & Shri Balakrishnan S.

capital towards construction of properties, Page 32/Para 2.33 of the CIT(A) order. We, thus, are of a firm conviction that, as the subject agreements were filed by the assessee company in the course of the assessment proceedings, therefore, the grievance of the revenue, that the CIT(A) had admitted the same as additional evidence, which, in turn, is based

GHANTA PUNNA RAO,GUNTUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), , GUNTUR

In the result, the appeal and cross objection filed by the assessee are allowed and the appeal of the Revenue is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.179/Viz/2019 (निर्धारण वर्ा/Assessment Year:2011-2012) Ghanta Punna Rao Vs. Asst.Commissioner Of 3Rd Floor, Varandas Apartments Income Tax 1/3, Navabharat Nagar Circle-2(1) Guntur Guntur [Pan : Adupg3613J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.354/Viz/2019 (निर्धारण वर्ा/Assessment Year:2011-2012) Asst.Commissioner Of Vs. Ghanta Punna Rao Income Tax 3Rd Floor, Varandas Apartments Circle-2(1) 1/3, Navabharat Nagar Guntur Guntur [Pan : Adupg3613J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.124/Viz/2019 (Arising Out Of I.T.A. No.354/Viz/2019) (निर्धारण वर्ा/Assessment Year:2011-2012) Ghanta Punna Rao Vs. Asst.Commissioner Of 3Rd Floor, Varandas Apartments Income Tax 1/3, Navabharat Nagar Circle-2(1) Guntur Guntur [Pan : Adupg3613J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Ac 8.37 cents assessee’s son Ponnekallu Village, Sri Kalyan Babu Guntur Rs.2,00,000/- The land extent of Ac.1.00 cents Rs.2,00,000 4. Agricultural lands Rs.6,08,000 Rs.6,08,000 - Land is held on to the extent of A the name of 4.05 cents at assessee’s son Pedaparimi village Sri Kalyan Babu Village, Guntur 5. Agricultural