MEKA RANGANAYAKAMMA,KRISHNA DISTRICT vs. INCOME TAX OFFICER, WARD-2(3), VIJAYAWADA

In the result, appeal of the assessee is dismissed

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

290/- within the meaning of section 271(1)(c) of the Act and levied the penalty of Rs. 2,82,897/-. Aggrieved by the penalty order of the Ld. AO, the assessee preferred an appeal before the Ld. CIT(A)-NFAC. On appeal, the Ld. CIT(A)-NFAC dismissed the appeal of the assessee. Aggrieved by the order

INCOME TAX OFFICER, WARD-2(3), VIJAYAWADA vs. SREELAKSHMI MUSUNURU, PENAMALURU

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.278/Viz/2024 (िनधा"रण वष"/Assessment Year: 2013-14) Income Tax Officer, Vs. Sreelakshmi Musunuru, Ward-2(3), Penamaluru. Vijayawada. Pan: Aojpm4884K (Appellant) (Respondent)

capital gains in the instant case, the Ld. CIT(A) did not do so. 8. Any other grounds of appeal that emerge out of the appeal proceedings from time to time.” 3. Also, the assessee is before us as a Cross Objector on the following grounds: “1. The Ld. CIT(A) erred in dismissing the assessee’s ground of appeal

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

capital gains. There is no reference to seized material at all and the addition made by the AO in respect of claim of 54F relating to purchase and sale of shares. The AO has disallowed the claim of the assessee u/sec. 54F not based on any seized material. There is no proximity between the notice issued by the AO u/sec

VIJAPURAPU SUDHA RAO,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

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

290/- which includes capital gains of Rs. 34,65,000/- on sale of vacant site admeasuring 231 sq yds at Yendada Village, Visakhapatnam. On receiving the information by the Department that during the FY 2016-17 relevant to the AY 2017-18 the assessee sold an immovable property to Mrs. Pusapati Appala Narsimha Raju for a total consideration

M/S. MAHATI SOFTWARE PVT. LTD.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee are partly allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital. As rightly observed by the Ld.DRP, had the assessee did not divert the funds, the tax payer would have saved the interest to the extent of diversion of funds. Therefore, the arguments of the Ld.AR not to charge the interest on interest free funds given or advance to the AE is not acceptable and we hold that

MAHATI SOFTWARE PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee are partly allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital. As rightly observed by the Ld.DRP, had the assessee did not divert the funds, the tax payer would have saved the interest to the extent of diversion of funds. Therefore, the arguments of the Ld.AR not to charge the interest on interest free funds given or advance to the AE is not acceptable and we hold that

ITO, WARD-2(1),, GUNTUR vs. VASANTHA TRADERS, GUNTUR

In the result, appeal of the revenue is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.17/Viz/2018 (धनधाारण िर्ा/Assessment Year:2013-14) Ito Vs. M/S Vasantha Traders Ward-2(1) D.No.4-383/6, Guntur Thimmapuram(V) Edlapadu(M) Guntur [Pan :Aahfv8178M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलाथी की ओर से/ Appellant By : Shri V.Appala Raju, Dr प्रत्यथी की ओर से / Respondent By : Shri G.V.N.Hari, Ar सुनिाई की तारीख / Date Of Hearing : 26.04.2018 04 .05.2018 घोषणा की तारीख/Date Of Pronouncement :

2. All the grounds of appeal in this case are related to the addition made by the Assessing Officer(AO) U/S 14A r.w.r.8D of income tax act. In this case, the assessee filed return of income declaring total income of Rs.19,27,290/-. The case was selected for scrutiny and during the assessment proceedings, the AO found that the assessee