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46 results for “capital gains”+ Section 153(1)clear

Sorted by relevance

Mumbai940Delhi798Bangalore278Jaipur242Chennai227Chandigarh183Hyderabad156Ahmedabad146Karnataka143Kolkata105Cochin100Indore94Pune82Raipur56Visakhapatnam46Guwahati43Nagpur35Surat35Lucknow30Calcutta20Amritsar17Rajkot12Jodhpur9Dehradun8SC8Telangana8Ranchi5Agra4Cuttack4Rajasthan3Allahabad3Varanasi2Patna2K.S. RADHAKRISHNAN A.K. SIKRI1Jabalpur1Gauhati1Panaji1Andhra Pradesh1ANIL R. DAVE SHIVA KIRTI SINGH1

Key Topics

Section 14833Section 153C32Condonation of Delay28Section 14415Addition to Income15Section 14713Section 26313Capital Gains13Section 143(3)

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

ITA 604/VIZ/2019[2015-2016]Status: DisposedITAT Visakhapatnam07 Apr 2021AY 2015-2016

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

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri D.K. Sonawal, CIT DR
Section 10(1)Section 2(14)Section 250(6)Section 3Section 54BSection 54F

153/- as against the claim of 1,08,72,088/- and 29,10,250/- made u/sec. 54F of the Act by Assessee and finally computed the long term capital gain of Rs. 3,50,00,300/- and added to the income of the Assessee . The AO also disallowed deduction of Rs. 92,79,935/- as claimed u/sec

Showing 1–20 of 46 · Page 1 of 3

12
Section 5712
Section 143(2)8
Long Term Capital Gains8

UPPADA KESAVAJANARDHANA RAO,FLORIDA, USA vs. ASSISTANT COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION, , VISAKHAPATNAM

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

ITA 40/VIZ/2024[2016-17]Status: DisposedITAT Visakhapatnam12 Sept 2024AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A. No. 40/Viz/2024 (निर्धारणवर्ा/ Assessment Year: 2016-17) Uppada Kesavajanardhana Rao V. Asst. Cit 7266, Chelsea Harbor Dr International Taxation Orlando, Florida, Usa – 32829 Income Tax Office, Infinity Towers Sankaramatam Road Usa - 322829 Visakhapatnam - 530016 [Pan :Aiipk6712H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदधतध कध प्रनतनिनर्त्व / Assessee Represented By : Mrs. Hema Latha K., Ar रधजस्व कध प्रनतनिनर्त्व / Department Represented By : Dr. Aparna Villuri, Sr.Ar

Section 139Section 142(1)Section 144Section 144CSection 147Section 148

1), wherein objection/ acceptance was sought from the appellant against the draft order within thirty days of receipt of this order. However, no objection was received from the appellant against the draft order. Therefore, Assessing Officer has passed the order on 11.05.2022 keeping in view of the section 144C(4). The relevant portion of the section 144C(4) is reproduced

VENKATA PRASAD PULIPATI,AMARAVATHI vs. INCOME-TAX OFFICER, WARD-2(1), GUNTUR

In the result, the appeal filed by the assessee is allowed in terms of our aforesaid observations

ITA 612/VIZ/2025[2016-17]Status: DisposedITAT Visakhapatnam19 Dec 2025AY 2016-17

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.612/Viz/2025 (िनधा"रण वष"/Assessment Year: 2016-17) Venkata Prasad Pulipati, Vs. Income Tax Officer, Amaravathi. Ward-2(1), Pan: Asapp8796L Guntur. (Appellant) (Respondent) िनधा"रती "ारा/Assessee By: Shri I. Kama Sastry, Ca राज" व "ारा/Revenue By: Dr. Aparna Villuri, Sr. Ar सुनवाई की तारीख/Date Of 03/12/2025 Hearing: घोषणा की तारीख/Date Of 19/12/2025 Pronouncement: आदेश / Order

For Appellant: Shri I. Kama Sastry, CAFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 147Section 148Section 148ASection 149(1)(b)Section 151Section 30Section 69

gains (STCG) on sale of property: Rs.11,55,505/-; (ii) disallowance of the assessee’s claim of long term capital loss: Rs.47,729/-; and (iii) unexplained investment under section 69 of the Act towards purchase of an immovable property: Rs.33,88,000/-, determined his income at Rs.52,43,830/-. 4 Venkata Prasad Pulipati vs. ITO 4. Aggrieved, the assessee carried

KAKRLA SURYA GANGADHAR TILAK,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-3(3), , VISAKHAPATNAM

In the result, appeals filed by the assessee are allowed

ITA 178/VIZ/2020[2007-08]Status: DisposedITAT Visakhapatnam31 May 2023AY 2007-08

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.177/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Smt.Kakarla Guna Vidya Saraswathi Vs. Income Tax Officer C/O Kakrla Surya Gangadhar Tilak Ward-3(3) A-1, Janani Apartments Visakhapatnam Pandurangaswamy Temple Backside Pandurangapuram Visakhapatnam [Pan : Apjpk5999N] आयकर अपील सं./I.T.A.No.178/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Sri Kakarla Surya Gangadhar Tilak Vs. Income Tax Officer A-1, Janani Apartments Ward-1(2) Pandurangaswamy Temple Backside Visakhapatnam Pandurangapuram Visakhapatnam [Pan : Ahbpk5319G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri I.Kama Sastry, Ar प्रत्यधथी की ओर से / Respondent By : Shri O.N.Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 27.02.2023 घोर्णध की तधरीख/Date Of Pronouncement : 31.05.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: These Appeals Are Filed By The Assessee Against The Orders Of Commissioner Of Income Tax (Appeals) [Cit(A)]-1 Visakhapatnam

For Appellant: Shri I.Kama Sastry, ARFor Respondent: Shri O.N.Hari Prasada Rao, DR
Section 1Section 144Section 148Section 274

153(2) of the Act is a jurisdictional pre-condition to finalizing the reassessment. (iv) The onus is on the Revenue to show that proper service of notice has been effected under section 148 of the Act on the Assessee or an agent duly empowered by him to accept notices on his behalf. In the present case, the Revenue

KAKARLA GUNA VIDYA SARASWATHI,,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-1(2), , VISAKHAPATNAM

In the result, appeals filed by the assessee are allowed

ITA 177/VIZ/2020[2007-08]Status: DisposedITAT Visakhapatnam31 May 2023AY 2007-08

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.177/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Smt.Kakarla Guna Vidya Saraswathi Vs. Income Tax Officer C/O Kakrla Surya Gangadhar Tilak Ward-3(3) A-1, Janani Apartments Visakhapatnam Pandurangaswamy Temple Backside Pandurangapuram Visakhapatnam [Pan : Apjpk5999N] आयकर अपील सं./I.T.A.No.178/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Sri Kakarla Surya Gangadhar Tilak Vs. Income Tax Officer A-1, Janani Apartments Ward-1(2) Pandurangaswamy Temple Backside Visakhapatnam Pandurangapuram Visakhapatnam [Pan : Ahbpk5319G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri I.Kama Sastry, Ar प्रत्यधथी की ओर से / Respondent By : Shri O.N.Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 27.02.2023 घोर्णध की तधरीख/Date Of Pronouncement : 31.05.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: These Appeals Are Filed By The Assessee Against The Orders Of Commissioner Of Income Tax (Appeals) [Cit(A)]-1 Visakhapatnam

For Appellant: Shri I.Kama Sastry, ARFor Respondent: Shri O.N.Hari Prasada Rao, DR
Section 1Section 144Section 148Section 274

153(2) of the Act is a jurisdictional pre-condition to finalizing the reassessment. (iv) The onus is on the Revenue to show that proper service of notice has been effected under section 148 of the Act on the Assessee or an agent duly empowered by him to accept notices on his behalf. In the present case, the Revenue

POTHINA SATYANARAYANA,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-2(5), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed in terms of our aforesaid observations

ITA 568/VIZ/2025[2018-19]Status: DisposedITAT Visakhapatnam26 Nov 2025AY 2018-19

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.568/Viz/2025 (िनधा"रण वष"/Assessment Year: 2018-19) Pothina Satyanarayana, Vs. Income Tax Officer, Visakhapatnam. Ward-2(5), Pan: Ahdpp1312N Visakhapatnam. (Appellant) (Respondent) िनधा"रती "ारा/Assessee By: Sri Gvn Hari, Advocate राज" व "ारा/Revenue By: Dr. Aparna Villuri, Sr. Ar सुनवाई की तारीख/Date Of 19/11/2025 Hearing: घोषणा की तारीख/Date Of 26/11/2025 Pronouncement: आदेश / Order Per. Ravish Sood, Jm : The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, Dated 10/07/2025, Which In Turn Arises From The Order Passed By The Assessing Officer (For Short, “Ao”) Under Section 147 R.W.S 144 R.W.S 144B Of The Income-Tax Act, 1961 (For Short, “Act”), Dated 12/02/2024 For The Assessment Year 2018-19. The 2 Pothina Satyanarayana Vs. Ito

For Appellant: Sri GVN Hari, AdvocateFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 139(1)Section 147Section 148Section 148ASection 151Section 151ASection 54F

capital gains: Rs.4,48,23,073/-; (ii) addition under the head profit and gains from business or profession: Rs.2,37,686/-; and (iii) interest income: Rs.62,445/-. 4. Aggrieved, the assessee carried the matter in appeal before the CIT(A) who partly allowed the same. Ostensibly, the assessee had assailed the validity of jurisdiction that was assumed

BOMMANA RAJKUMAR,RAJAHMUNDRY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, RAJAHMUNDRY

In the result, appeal of the assessee in (i)

ITA 548/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam08 Nov 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.546-548/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2012-13 To 2014-15) Bommana Rajkumar Vs. Asst.Commissioner Of Prop. M/S Bommana Rajkumar & Co Income Tax Main Road Central Circle Rajahmundry Rajahmundry [Pan : Abkpr3836J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.K.Sonowal, Cit, Dr सुनवधई की तधरीख / Date Of Hearing : 31.10.2019 घोर्णध की तधरीख/Date Of Pronouncement : 08.11.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT, DR
Section 143(2)Section 153CSection 57

capital gains amounting to Rs.28,16,958/-. During the course of assessment proceedings u/s 153C, the AO found that the assessee has claimed the deduction for payment rent of Rs.7,36,053/- u/s 57 of the Act,i.e. from the income from other sources. Since the rent paid is not an allowable deduction

BOMMANA RAJKUMAR,RAJAHMUNDRY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, RAJAHMUNDRY

In the result, appeal of the assessee in (i)

ITA 546/VIZ/2018[2012-13]Status: DisposedITAT Visakhapatnam08 Nov 2019AY 2012-13

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.546-548/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2012-13 To 2014-15) Bommana Rajkumar Vs. Asst.Commissioner Of Prop. M/S Bommana Rajkumar & Co Income Tax Main Road Central Circle Rajahmundry Rajahmundry [Pan : Abkpr3836J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.K.Sonowal, Cit, Dr सुनवधई की तधरीख / Date Of Hearing : 31.10.2019 घोर्णध की तधरीख/Date Of Pronouncement : 08.11.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT, DR
Section 143(2)Section 153CSection 57

capital gains amounting to Rs.28,16,958/-. During the course of assessment proceedings u/s 153C, the AO found that the assessee has claimed the deduction for payment rent of Rs.7,36,053/- u/s 57 of the Act,i.e. from the income from other sources. Since the rent paid is not an allowable deduction

BOMMANA RAJKUMAR,RAJAHMUNDRY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, RAJAHMUNDRY

In the result, appeal of the assessee in (i)

ITA 547/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam08 Nov 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.546-548/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2012-13 To 2014-15) Bommana Rajkumar Vs. Asst.Commissioner Of Prop. M/S Bommana Rajkumar & Co Income Tax Main Road Central Circle Rajahmundry Rajahmundry [Pan : Abkpr3836J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.K.Sonowal, Cit, Dr सुनवधई की तधरीख / Date Of Hearing : 31.10.2019 घोर्णध की तधरीख/Date Of Pronouncement : 08.11.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT, DR
Section 143(2)Section 153CSection 57

capital gains amounting to Rs.28,16,958/-. During the course of assessment proceedings u/s 153C, the AO found that the assessee has claimed the deduction for payment rent of Rs.7,36,053/- u/s 57 of the Act,i.e. from the income from other sources. Since the rent paid is not an allowable deduction

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(1), VISAKHAPATNAM vs. VIZAG RE-BARS PRIVATE LIMITED, VISAKHAPATNAM

In the result, the cross objection filed by the assessee is allowed

ITA 428/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam08 Oct 2025AY 2017-18

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.428/Viz/2024 (निर्धारणवर्ा/ Assessment Year: 2017-18) Dy. Cit – Circle – 3(1) Vs. M/S. Vizag Re-Bars Private Limited 35, 50-92-35, Sankara Matam Road Plot No. 1 Ida, Edulapaka Bonangi, Opposite Reliance Fresh Parawada Mandal – 531021 Beside Reliance Fresh, Near By Main Road Andhra Pradesh Madhuranagar, Dwaraka Nagar Visakhapatnam – 530016 [Pan:Aabcv2581M] Andhra Pradesh (अपीलधर्थी/Appellant) (प्रत्यर्थी/Respondent)

Section 10(38)Section 115JSection 143(3)Section 147Section 148Section 148A

Capital Gains on sale of shares. 3. The learned Commissioner of Income-Tax (Appeals) ought to have quashed the notice u/s 148 even on the ground that: a) The notice issued was not based on the facts stated in the return of income. b) The notice issued u/s 148A(b) is void ab initio as the grounds mentioned therein were

DEPUTY COMMISSIONER OF INCOME TAX (IT), VISAKHAPATNAM vs. SHRI APPARAO MUKKAMALA, USA

In the result, the appeal filed by the revenue is dismissed, while for the cross-objection filed by the assessee is allowed

ITA 354/VIZ/2025[2016-17]Status: DisposedITAT Visakhapatnam30 Sept 2025AY 2016-17

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI BALAKRISHNAN. S, HON’BLE (Accountant Member)

Section 144C(3)Section 147Section 148Section 153CSection 69A

capital gains (LTCG) on sale of shares of M/s Sunbeam Hospitality Pvt. Ltd. The return of income filed by the assessee was initially processed as such under section 143(1) of the Act. 3. On 26.02.2019, search and seizure proceedings were conducted in the case of M/s Sandhya Hotels Pvt. Ltd. During the course of the search proceedings, a copy

LALITHA DEVI,,KAKINADA vs. THE ACIT,, RAJAHMUNDRY

In the result, the appeals filed by the assessee in ITA

ITA 112/VIZ/2017[2008-2009]Status: DisposedITAT Visakhapatnam04 Apr 2018AY 2008-2009

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

For Appellant: Shri P. Prabhakara MurthyFor Respondent: Shri Deba Kumar Sonowal
Section 132Section 153CSection 54F

capital gains claim u/s.54F as well as loans obtained from various persons. These two items have direct bearing on the income of the appellant. In view of the facts discussed above, I consider that the Assessing Officer has correctly assumed jurisdiction u/s.153C. Further, the appellant had complied with the proceedings by filing replies and other details without objection

LALITHA DEVI,,KAKINADA vs. THE ACIT,, RAJAHMUNDRY

In the result, the appeals filed by the assessee in ITA

ITA 111/VIZ/2017[2007-2008]Status: DisposedITAT Visakhapatnam04 Apr 2018AY 2007-2008

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

For Appellant: Shri P. Prabhakara MurthyFor Respondent: Shri Deba Kumar Sonowal
Section 132Section 153CSection 54F

capital gains claim u/s.54F as well as loans obtained from various persons. These two items have direct bearing on the income of the appellant. In view of the facts discussed above, I consider that the Assessing Officer has correctly assumed jurisdiction u/s.153C. Further, the appellant had complied with the proceedings by filing replies and other details without objection

HARESH KUMAR LALWANI,VIZIANAGARAM vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1, VISHAKHAPATNAM

In the result, appeal of the assessee is allowed

ITA 264/VIZ/2025[2021-22]Status: DisposedITAT Visakhapatnam17 Jun 2025AY 2021-22

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. No.264/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2021-22) Haresh Kumar Lalwani V. Pr.Cit -1 22-1-22, Ambati Satram Junction Aayakar Bhavan, Daba Gardens Vizianagaram – 535002 Visakhapatnam – 530020 Andhra Pradesh Andhra Pradesh [Pan: Aaqpt9248P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 143(3)Section 263Section 56(2)(x)Section 69A

1) dated 27.03.2025 for the A.Y. 2021-22. I.T.A. No.264/VIZ/2025 Haresh Kumar Lalwani 2. Brief facts of the case are that, assessee is an individual filed his return of income declaring a total income of Rs. 10,10,260/ which includes long term capital gains of Rs. 8,19,153/- and income from house property

INCOME TAX OFFICER, WARD-2(5), VISAKHAPATNAM vs. DUVVURU REKHA REDDY, KURMANNAPALEM

In the result, the cross objection filed by the assessee is allowed

ITA 450/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam24 Sept 2025AY 2017-18

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.450/Viz/2024 (निर्धारण वर्ा/ Assessment Year:2017-18) Vs. Income Tax Officer –Ward– 2(5) Duvvuru Rekha Reddy 2Nd Floor, Infinity Towers Flat No. 402, Vizag Profile Towers Sankaramatam Road Kurmannapalem Visakhapatnam - 530016 Visakhapatnam -530046 Andhra Pradesh [Pan:Afdpr3780C] सी.ओ सं. / C.O. No. 17/Viz/2024 [आयकरअपीलसं.से उत्पन्न/I.T.A.No.450/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2017-18)] Vs. Income Tax Officer –Ward– 2(5) Duvvuru Rekha Reddy 2Nd Floor, Infinity Towers Flat No. 402, Vizag Profile Towers Sankaramatam Road Kurmannapalem Visakhapatnam - 530016 Visakhapatnam - 530046 Andhra Pradesh [Pan:Afdpr3780C]

Section 10(38)Section 147Section 148Section 68

Capital Gain of Rs.1,94,13,599/- which is disclosed in the return of income filed in response to notice under section 148 of the Act. In support of the above submissions, assessee filed relevant evidence in support Page. No 3 I.T.A.No.450/VIZ/2024 C.O. No. 17/VIZ/2024 Duvvuru Rekha Reddy of the funds mobilised for investment in the Company Steel Exchange

INCOME TAX OFFICER, INFINITY TOWERS, SANKARMATHAM ROAD vs. AMMAJI CHENNUPATI, RAJEEVNAGAR, KURMANNAPALEM

In the result, the appeal of the revenue is dismissed, while the additional ground of cross-objection of the assessee is allowed in terms of our aforesaid observations

ITA 441/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam09 Sept 2025AY 2017-18

Bench: Us:

Section 10(38)Section 147Section 148Section 148ASection 69

Capital Gains on sale of shares as unexplained. 4 ITA No.441/Viz/2024 & CO No.7/Viz/2025 Ammaji Chennupati 3. Any other grounds of Cross-Objection that may the raised at the time of hearing. Further, the assessee cross-objector has raised an additional ground which reads as under: “1. On the facts and in the circumstances of the case, the notice issued

GVK POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, RAJAHMUNDRY

In the result, appeal of the assessee is allowed

ITA 553/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam03 Apr 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकरअपीलसं./I.T.A.No.553/Viz/2018 (ननधधारण वर्ा/Assessment Year:2014-15) M/S Gvk Power & Infrastructure Ltd. Vs. Asst.Commissioner Of D.No.5-48, Gvk Power Plant Income Tax Jegurupadu, Kadiyammandal Circle-2(1) East Godavari Rajamahendravaram [Pan :Aaacj5599A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओ रसे/ Appellant By Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By Shri D.K.Sonowal, Cit Dr सुनवधई की तधरीख / Date Of Hearing : 21.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03.04.2019

Section 139Section 143(3)Section 14ASection 36Section 5

gains. The AO contended that there was no return or income received from the subsidiary companies. The same cannot be 31 I.T.A. No.553/Viz/2018 M/s GVK Power & Infrastructure Ltd., Kadiyam reason for disallowance of interest as the return and the profit of the company depends on lot of other factors. The advances or investments were made out of business compulsions

CHEBOLU LAKSHMI,,VISAKHAPATNAM vs. ITO, WARD-2(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

ITA 6/VIZ/2018[2007-08]Status: DisposedITAT Visakhapatnam08 Nov 2019AY 2007-08

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.06/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2007-08) Smt. Chebolu Lakshmi Vs. Income Tax Officer F.No.3, City View Apartment Ward-2(1) Ramnagar Visakhapatnam Visakhapatnam [Pan : Adapc6283A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.K.Sonowal, Cit, Dr सुनवधई की तधरीख / Date Of Hearing : 30.10.2019 घोर्णध की तधरीख/Date Of Pronouncement : 08.11.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT, DR
Section 143(3)Section 263

capital gains on sale of land admeasuring 153 sq.yds at Allipuram Ward, Visakhapatnam. The said land was sold on 31.05.2006 for a consideration of Rs.22,95,000/- which was acquired for a consideration of Rs.9.00 lakhs, against which the AO had adopted the market value of Rs.14,99,400/- as cost of acquisition, which resulted in under assessment of Rs.5

KANUMURI LAKSHMI UMA KATYAINI ,BAPULAPADU MANDAL vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE,, VIJAYAWADA

In the result, appeals of the assessees are allowed

ITA 716/VIZ/2019[2009-10]Status: DisposedITAT Visakhapatnam27 Apr 2021AY 2009-10

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकरअपीऱसं./I.T.A.No.704/Viz/2019 To 706/Viz/2019 (निर्धारणवर्ा/Assessment Year:2009-10 To 2011-12) Smt.Samanthapudi Lavanya Vs. Asst.Commissioner Of D.No.5-1033-1, Vijayawada Road Income Tax Hanuman Junction, Central Circle Bapulapadu Mandal Vijayawada Krishna Dist. [Pan : Cnbps7658N]

capital gains at Rs, 927,050 as against Ps. 1,78,185 admitted by the appellant by adopting the sale consideration of flats at Rs.9,64,59,574 as 15 I.T.A. No.704 to 727/Viz/2019 & I.T.A.No.73 to 75/Viz/2020, A.Y.2009-10 to 2011-12 Kanumuri Subba Raju and others, Bapulapadu Mandal against the actual consideration of Rs.6,99,53,000 received

KANUMURI PRASAD,BAPULAPADU MANDAL vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE,, VIJAYAWADA

In the result, appeals of the assessees are allowed

ITA 715/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam27 Apr 2021AY 2011-12

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकरअपीऱसं./I.T.A.No.704/Viz/2019 To 706/Viz/2019 (निर्धारणवर्ा/Assessment Year:2009-10 To 2011-12) Smt.Samanthapudi Lavanya Vs. Asst.Commissioner Of D.No.5-1033-1, Vijayawada Road Income Tax Hanuman Junction, Central Circle Bapulapadu Mandal Vijayawada Krishna Dist. [Pan : Cnbps7658N]

capital gains at Rs, 927,050 as against Ps. 1,78,185 admitted by the appellant by adopting the sale consideration of flats at Rs.9,64,59,574 as 15 I.T.A. No.704 to 727/Viz/2019 & I.T.A.No.73 to 75/Viz/2020, A.Y.2009-10 to 2011-12 Kanumuri Subba Raju and others, Bapulapadu Mandal against the actual consideration of Rs.6,99,53,000 received