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

gain based on JDA. The relevant decision of the Hon'ble High Court in para 10 to 19 is as under: “10. We have considered the rival submissions on both sides and have perused the record. 11. Before proceeding further, it is apposite to take note of relevant statutory provisions of the Income Tax Act, 1961. Section 2(47) defines

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

gain based on JDA. The relevant decision of the Hon'ble High Court in para 10 to 19 is as under: “10. We have considered the rival submissions on both sides and have perused the record. 11. Before proceeding further, it is apposite to take note of relevant statutory provisions of the Income Tax Act, 1961. Section 2(47) defines

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

gain based on JDA. The relevant decision of the Hon'ble High Court in para 10 to 19 is as under: “10. We have considered the rival submissions on both sides and have perused the record. 11. Before proceeding further, it is apposite to take note of relevant statutory provisions of the Income Tax Act, 1961. Section 2(47) defines

THE ITO,, GUNTUR vs. ALAPATI RAJENDRA PRASAD,, GUNTUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleito, Ward-2(2), Vs. Alapati Rajendra Prasad, D.No. 4-5-29/85, 4Th Line, Guntur. Vidya Nagar, Guntur. Pan No. Aetpa 0460 M (Appellant) (Respondent)

vi) CIT Vs. Tata Services Ltd. [(1980) 122 ITR 594] 8. We have heard both the sides, perused the material available on record and orders of the authorities below. 9. The assessee is an individual entered into an oral agreement to purchase a site consisting of 5375 sq.yds. along with MTC tiled and ACC structures situated at Kothapet, Guntur

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

Bench: Us:

vi) CIT Vs. Roshanbabu Mohammed Hussain Merchant (2002) 144 Taxmann 720 (Bom). vii) Rajendra Mining Syndicate Vs. CIT (1991) 43 ITR 460 (AP). viii) CIT Vs. Jagadish Sugar Mills (1974) Tax LR 526 (All.) ix) CIT Vs. MD Manohar Rao (1985) 155 ITR 696 (AP). x) Rohtak Textile Mills Ltd (1982) 138 ITR 195 (Del). xi) B.N. Pinto

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

2(47) of the Act. The Ld. AR further submitted that a mere right to sue cannot be transferred as per section 6(e) of the Transfer of Property Act and hence it cannot be considered as a capital asset. The Ld. AR placed reliance on the following case laws: (i) CIT vs. V.MR.P. Firm

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:

gains. In this context, we hereby extract below the provisions of section 2(47) of the Act which defines “transfer”. “Sec: 2(47) "transfer", in relation to a capital asset, includes,— (i) the sale, exchange or relinquishment of the asset; or (ii) the extinguishment of any rights therein; or (iii) the compulsory acquisition thereof under

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:

gains. In this context, we hereby extract below the provisions of section 2(47) of the Act which defines “transfer”. “Sec: 2(47) "transfer", in relation to a capital asset, includes,— (i) the sale, exchange or relinquishment of the asset; or (ii) the extinguishment of any rights therein; or (iii) the compulsory acquisition thereof under

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

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

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

vi) To meet the above business requirements, segment-wise operating cum investment holding company for Power, Airport and Transport vertical has been set-up by the assessee. Further, the assessee would like to submit that any major infrastructure player operating in different kind of projects would have a similar structure/ operating model as that of it. 16.4. From the above

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, VIJAYAWADA vs. THE KRISHNA DISTRICT CO-OPERATIVE CENTRAL BANK LTD, MACHILIPATNAM

In the result, the appeals of the revenue for the A

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) आयकर अपील सं./I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) Deputy Commissioner Of Vs. M/S The Krishna District Co- Income Tax Operative Central Bank Ltd., Circle-2(1), Vijayawada Ysr Sahakar Bhavan Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co Nos.70 & 71/Viz/2017 (Arising Out Of I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) Co Nos.60 & 61/Viz/2018 (Arising Out Of I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) M/S The Krishna District Co-Operative Deputy Commissioner Of Central Bank Ltd., Income Tax Ysr Sahakar Bhavan Circle-2(1), Vijayawada Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Sri D. K. Sonowal,Cit Dr निर्ााररती की ओर से/ Assessee By : Sri K.Siva Ram Kumar, Ar सुिवाई की तारीख / Date Of Hearing : 19.11.2018 घोषणा की तारीख/Date Of Pronouncement : 28.11.2018

section 37(1) has no application. Since the assessee failed to carry forward the loss on write off to the General Reserves below the line as prescribed by RBI and the amounts are mainly related to the period during which the income of the assessee was tax exempt, the claim of the assessee u/s 37(1) is not allowable

THE DY. CIT,, VIJAYAWADA vs. M/S. THE KRISHNA DISTRICT CO -OPERATIVE CENTRAL BANK LTD,, MACHILIPATNAM

In the result, the appeals of the revenue for the A

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) आयकर अपील सं./I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) Deputy Commissioner Of Vs. M/S The Krishna District Co- Income Tax Operative Central Bank Ltd., Circle-2(1), Vijayawada Ysr Sahakar Bhavan Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co Nos.70 & 71/Viz/2017 (Arising Out Of I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) Co Nos.60 & 61/Viz/2018 (Arising Out Of I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) M/S The Krishna District Co-Operative Deputy Commissioner Of Central Bank Ltd., Income Tax Ysr Sahakar Bhavan Circle-2(1), Vijayawada Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Sri D. K. Sonowal,Cit Dr निर्ााररती की ओर से/ Assessee By : Sri K.Siva Ram Kumar, Ar सुिवाई की तारीख / Date Of Hearing : 19.11.2018 घोषणा की तारीख/Date Of Pronouncement : 28.11.2018

section 37(1) has no application. Since the assessee failed to carry forward the loss on write off to the General Reserves below the line as prescribed by RBI and the amounts are mainly related to the period during which the income of the assessee was tax exempt, the claim of the assessee u/s 37(1) is not allowable

THE DY. CIT,, VIJAYAWADA vs. M/S. THE KRISHNA DISTRICT CO -OPERATIVE CENTRAL BANK LTD,, MACHILIPATNAM

In the result, the appeals of the revenue for the A

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) आयकर अपील सं./I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) Deputy Commissioner Of Vs. M/S The Krishna District Co- Income Tax Operative Central Bank Ltd., Circle-2(1), Vijayawada Ysr Sahakar Bhavan Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co Nos.70 & 71/Viz/2017 (Arising Out Of I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) Co Nos.60 & 61/Viz/2018 (Arising Out Of I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) M/S The Krishna District Co-Operative Deputy Commissioner Of Central Bank Ltd., Income Tax Ysr Sahakar Bhavan Circle-2(1), Vijayawada Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Sri D. K. Sonowal,Cit Dr निर्ााररती की ओर से/ Assessee By : Sri K.Siva Ram Kumar, Ar सुिवाई की तारीख / Date Of Hearing : 19.11.2018 घोषणा की तारीख/Date Of Pronouncement : 28.11.2018

section 37(1) has no application. Since the assessee failed to carry forward the loss on write off to the General Reserves below the line as prescribed by RBI and the amounts are mainly related to the period during which the income of the assessee was tax exempt, the claim of the assessee u/s 37(1) is not allowable

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, VIJAYAWADA vs. THE KRISHNA DISTRICT CO-OPERATIVE CENTRAL BANK LTD, MACHILIPATNAM

In the result, the appeals of the revenue for the A

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) आयकर अपील सं./I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) Deputy Commissioner Of Vs. M/S The Krishna District Co- Income Tax Operative Central Bank Ltd., Circle-2(1), Vijayawada Ysr Sahakar Bhavan Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co Nos.70 & 71/Viz/2017 (Arising Out Of I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) Co Nos.60 & 61/Viz/2018 (Arising Out Of I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) M/S The Krishna District Co-Operative Deputy Commissioner Of Central Bank Ltd., Income Tax Ysr Sahakar Bhavan Circle-2(1), Vijayawada Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Sri D. K. Sonowal,Cit Dr निर्ााररती की ओर से/ Assessee By : Sri K.Siva Ram Kumar, Ar सुिवाई की तारीख / Date Of Hearing : 19.11.2018 घोषणा की तारीख/Date Of Pronouncement : 28.11.2018

section 37(1) has no application. Since the assessee failed to carry forward the loss on write off to the General Reserves below the line as prescribed by RBI and the amounts are mainly related to the period during which the income of the assessee was tax exempt, the claim of the assessee u/s 37(1) is not allowable