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

vi) "immovable property" shall have the same meaning as in clause (d) of Section 269-UA. Explanation-2.—For the removal of doubts, it is hereby clarified that "transfer" includes and shall be deemed to have always included disposing of or parting with an asset or any interest therein, or creating any interest in any asset in any manner whatsoever

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

vi) "immovable property" shall have the same meaning as in clause (d) of Section 269-UA. Explanation-2.—For the removal of doubts, it is hereby clarified that "transfer" includes and shall be deemed to have always included disposing of or parting with an asset or any interest therein, or creating any interest in any asset in any manner whatsoever

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

vi) "immovable property" shall have the same meaning as in clause (d) of Section 269-UA. Explanation-2.—For the removal of doubts, it is hereby clarified that "transfer" includes and shall be deemed to have always included disposing of or parting with an asset or any interest therein, or creating any interest in any asset in any manner whatsoever

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

vi) "immovable property" shall have the same meaning as in clause (d) of Section 269-UA. Explanation-2.—For the removal of doubts, it is hereby clarified that "transfer" includes and shall be deemed to have always included disposing of or parting with an asset or any interest therein, or creating any interest in any asset in any manner whatsoever

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1),, VISAKHAPATNAM vs. DATLA SHANTI, VISAKHAPATNAM

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

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

24,88,980/- for the AY 2017-18 on 29/10/2017. The case was subsequently selected for scrutiny under CASS and notice u/s. 143(2) dated 14/8/2018 was issued to the assessee through ITBA. Subsequent to change in the incumbent a fresh notice u/s. 129 was issued to the assessee vide letter dated 11/11/2019 and accordingly notice

NEKKANTI SEA FOODS LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

capital\nreceipt or revenue receipt and would thus, be taxable. However, thereafter, and in order to put an\nend to the dispute, the legislature by way of inserting clauses 28 (iiia), (iiib), (iiic), (iiid) and (iiie)\nhas made the said incentives taxable under the head of \"profits and gains of business and\nprofession\".\n7.2 Section 80-IB provides for deductions

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.

24. The Ld. AR based on the aforesaid facts, submitted that as the assessee company was a full-fledged educational infrastructure operator rather than a passive landlord, which based on its systematic and organized activity was engaged in the business of providing educational infrastructure facilities to the schools and educational institutions, including but not limited to buildings, classrooms, laboratories, sports

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.

24. The Ld. AR based on the aforesaid facts, submitted that as the assessee company was a full-fledged educational infrastructure operator rather than a passive landlord, which based on its systematic and organized activity was engaged in the business of providing educational infrastructure facilities to the schools and educational institutions, including but not limited to buildings, classrooms, laboratories, sports

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

capital towards construction of properties, Page 32/Para\n2.33 of the CIT(A) order. We, thus, are of a firm conviction that, as the\nsubject agreements were filed by the assessee company in the course\nof the assessment proceedings, therefore, the grievance of the revenue,\nthat the CIT(A) had admitted the same as additional evidence, which, in\nturn, is based

DEVI SEA FOODS LIMITED,VISAKHAPATNAM vs. DCIT, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.75/Viz/2022 ("नधा"रणवष"/ Assessment Year: 2017-18) M/S. Devi Sea Foods Limited, Vs. Deputy Commissioner Of Visakhapatnam. Income Tax, Pan: Aabcd 0248 B Circle-3(1), Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri D. Anand, Advocate ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

gain of Rs. 11,24,33,853/- which has a direct nexus with the period of realization of the receivables from the AE should be netted off against the notional interest charged on delayed receipt of trade receivables. 2.13. Without prejudice to the above grounds, the DRP/TPO/AO erred in considering uniform credit period of 60 days without any basis

OCEAN INDIA PVT. LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blei.T. (T.P.) A. No. 150/Viz/2016 (Asst. Year : 2011-12) M/S. Teejay India Pvt. Ltd. Vs. The Acit, Circle-5(1), (Formerly Known As Ocean Visakhapatnam. India Pvt. Ltd.), Plot No. 15, Brandix India Apparel City Pvt. Ltd. Sez, Pudimadaka Road, Atchutapuram, Visakhapatnam. Pan No. Aaaco 9452 H (Appellant) (Respondent)

gain as operating in nature while computing the gross profit margin of the Appellant and the comparable companies under the CPM method; 6. Without prejudice to the ground 3 and 4 above, even if the Transactional Net Margin Method (TNMM) is to be applied as the most appropriate method, the Appellant humbly prays before the Hon’ble Bench that

GOWTHAM RESIDENTIAL JUNIOR COLLEGE,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

In the result, appeals of the assessee are allowed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos.25 & 26/Viz/2022 (निर्धारण वर्ा/ Assessment Years: 2017-18 & 2013-14) Gowtham Residential Junior College V. Asst. Cit-Central Circle Vijayawada 1-87, Gudavalli Village Gudavalli, Vijayawada – 521104 Andhra Pradesh [Pan: Aaefg4399L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital accounts of the partners have predominantly arisen on account of the losses incurred by the assessee during the earlier years and not due to withdrawal of funds by the partners. Hence, the observation of the AO in this regard is found to be factually incorrect. 30. In view of the discussion made in paragraphs 25 to 29 above

GOWTHAM RESIDENTIAL JUNIOR COLLEGE,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

In the result, appeals of the assessee are allowed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos.25 & 26/Viz/2022 (निर्धारण वर्ा/ Assessment Years: 2017-18 & 2013-14) Gowtham Residential Junior College V. Asst. Cit-Central Circle Vijayawada 1-87, Gudavalli Village Gudavalli, Vijayawada – 521104 Andhra Pradesh [Pan: Aaefg4399L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital accounts of the partners have predominantly arisen on account of the losses incurred by the assessee during the earlier years and not due to withdrawal of funds by the partners. Hence, the observation of the AO in this regard is found to be factually incorrect. 30. In view of the discussion made in paragraphs 25 to 29 above