GANGUNAIDU SABBAVARAPU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-2(5), VISAKHPATNAM

gains. The assessee claimed exemption, stating the land was agricultural and acquired under the National Highways Act, 1956, hence exempt under RFCTLARR Act and not a capital asset. The CIT(A) dismissed the appeal, citing jurisdictional limitations.", "held": "The Tribunal condoned the delay in filing the appeal. It accepted the assessee's plea that compensation from compulsory acquisition of agricultural

APPANA HARI NAGA VENKATA RAO,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleappana Hari Naga Venkat Rao, Vs. Ito, Ward-1(4), D.No. 15-32-7, Gokul Road, Visakhapatnam. Maharanipeta, Visakhapatnam. Pan No. Adopa 5287 G (Appellant) (Respondent)

section 143(3) r.w.s. 147 of the Act by determining taxable long term capital gain at Rs. 1,31,92,445/-. (Appana

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, GUNTUR vs. ANDHRA TRADE DEVELOPMENT CORPORATION PRIVATE LIMITED, GUNTUR

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

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

gains. The appellant will be entitled to carry forward business loss of Rs.1,94,62,300/- only apart from long term capital loss to be carry forward as determined by the AO. The AO is directed to modify the order accordingly. The grounds of appeal filed by the appellant are allowed.” 6. The ld. CIT(A) also relied upon

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

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

capital gains income is chargeable to tax in respect of the said transfer of the land. 6.1 Ld. DR vehemently argued that law does not permit to change the stand which has taken at the initial stage and new claim cannot be entertained without revising the original return of income. Ld. DR in support of his contention also relied upon

PUPPALA GOPI KRISHNA,GUNTUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, GUNTUR

In the result, appeal of the assessee is allowed

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

31,59,000/- as long term capital gains [LTCG] on sale of vacant site. In the computation submitted before the Ld. AO, the assessee offered net LTCG of Rs. 1,04,74,973/- after deducting the indexed cost of acquisition and the cost of improvement aggregating to Rs. 1,26,84,027/- and accordingly revised the total income

LINTON PROJECTS PRIVATE LIMITED,VIZIANAGARAM vs. THE INCOME TAX OFFICER, WARD-1, , VIZIANAGARAM

In the result, appeal of the revenue is dismissed in limine and Cross objection filed is assessee is dismissed as infructuous

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

Capital amounting to Rs. 89,67,000/- from various relatives of the Directors of the company, the Assessing Officer treated the share investments as ingenuine and added the same as unexplained cash credit under section 68 of the Act on protective basis as admitted by the assessee before the Investigation Directorate as her unexplained investment under section

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. POOSARLA SATYAVATHI, VIZIANAGARAM

In the result, appeal of the revenue is dismissed in limine and Cross objection filed is assessee is dismissed as infructuous

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

Capital amounting to Rs. 89,67,000/- from various relatives of the Directors of the company, the Assessing Officer treated the share investments as ingenuine and added the same as unexplained cash credit under section 68 of the Act on protective basis as admitted by the assessee before the Investigation Directorate as her unexplained investment under section

AGRI GOLD FOODS AND FARM PRODUCTS LIMITED,VIJAYAWADA vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-2(1), VIJAYAWADA

Bench: Us:

gains. Consequently, Assessing Officer is not justified in assessing the resultant accretion on transfer to the subsidiary company as income from business of appellant. Further, it was also contended that the said land should not be treated as 'business asset' and thereby the resultant surplus should not be assessed as business income. 5 3.1. As per the profit & loss account

KAPIL AHUJA,VISAKHAPTNAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCEL - 3(1),, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

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

31,001/- and Rs. 53,933/-. The Ld. AO therefore concluded that the assessee has made an excess claim of Rs. 13,00,147/- U/s. 10 of the Act and reopened the case U/s. 148 of the Act with the prior approval of JCIT, Range-2, Visakhapatnam. The Ld. AO issued notice u/s. 148 of the Act on 4/9/2018 where

MADDIMISETTI SRINIVASU,TANUKU vs. THE ASST . COMMISSIONER OF INCOME TAX,CIRCLE-1, RAJAHMUNDARY

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.96/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2017-18) Maddimsetti Srinivasu Vs. Asst.Commissioner Of D.No.1-77, Peddintlamma Street Income Tax Tanuku Mandal Circle-1 Komaravaram Rajahmundry [Pan : Ctxpm3066Q]

31,16,000/- during the previous year relevant to the A.Y.2017-18. The assessee had computed long term capital gains (LTCG) of Rs.1,22,09,363/- and offered taxable LTCG of Rs.26,84,183/- after claiming deduction u/s 54F of the Act. The Ld.PCIT viewed that the income ought to have been offered under the head ‘income from business or profession

DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM vs. SRI NARASIMHARAJU KANUMURI, VISAKHAPATNAM

In the result, the appeal filed by the revenue in ITA No

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.267/Viz/2025 (िनधा"रण वष"/Assessment Year: 2017-18) Deputy Commissioner Of Vs. Sri Narasimharaju Income Tax, Kanumuri, Visakhapatnam. Visakhapatnam. Pan: Aerpk2717F (Appellant) (Respondent)

1), Visakhapatnam, the appellant Shri Kanumuri Narasimha Raju purchased land admeasuring 4502.2 Sq. yards (0.925 acres) situated at Vellanki Village, Anandapuram, Visakhapatnam District from Shri Nallu Madhusudhan Reddy & Smt Nallu Sirisha Reedy both non-resident Indians for a consideration of Rs.4,72,62,6000/-. The above information was gathered based on the copies of sale agreements & sale deed gathered

INCOME TAX OFFICER, WARD-2(1), GUNTUR vs. SHIVANI COTTON INDUSTRIES PRIVATE LIMITED, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

1. “The Ld. CIT(A) ought to have upheld the addition made by the AO, as the assessee firm claimed to have given an amount of Rs.2,15,00,000/- as advance to M/s. Jaya Balajee Real Media Private Limited (JBRMPL) in the F.Y. 2015-16 relevant to A.Y. 2016-17 in the form of cash during the demonetization period

INCOME TAX OFFICER, WARD- 1(1),, GUNTUR vs. POTTI KUMARA NAGA VENKATA SAI CHAKRAVARTHY, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

1. “The Ld. CIT(A) ought to have upheld the addition made by the AO, as the assessee firm claimed to have given an amount of Rs.2,15,00,000/- as advance to M/s. Jaya Balajee Real Media Private Limited (JBRMPL) in the F.Y. 2015-16 relevant to A.Y. 2016-17 in the form of cash during the demonetization period

INCOME TAX OFFICER, GUNTUR vs. MADHUSUSHANA VENKATA SUBBA RAO POTTI, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

1. “The Ld. CIT(A) ought to have upheld the addition made by the AO, as the assessee firm claimed to have given an amount of Rs.2,15,00,000/- as advance to M/s. Jaya Balajee Real Media Private Limited (JBRMPL) in the F.Y. 2015-16 relevant to A.Y. 2016-17 in the form of cash during the demonetization period

ASSISTANT COMMISSIONER OF INCOME TAX , GUNTUR vs. MS.VIJAYASAI LAKSHMI SRINIVASA COTTON MILLS, GUNTUR

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

1. “The Ld. CIT(A) ought to have upheld the addition made by the AO, as the assessee firm claimed to have given an amount of Rs.2,15,00,000/- as advance to M/s. Jaya Balajee Real Media Private Limited (JBRMPL) in the F.Y. 2015-16 relevant to A.Y. 2016-17 in the form of cash during the demonetization period

GANTA SRINIVASA RAO,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.417/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) Asst.Commissioner Of Income Tax Vs. Shri Ganta Srinivasa Rao Circle-3(1) D.No.1-84-16/1/1, Plot Visakhapatnam No.231/4, Mvp Colony Visakhapatnam [Pan : Adypg4435G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.04/Viz/2020 (Arising Out Of I.T.A.No.417/Viz/2019) (निर्धारण वर्ा/Assessment Year:2013-14) Shri Ganta Srinivasa Rao Vs. Asst.Commissioner Of D.No.1-84-16/1/1, Plot No.231/4 Income Tax Mvp Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adypg4435G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.423/Viz/2019 & 424/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14 & 2014-15) Shri Ganta Srinivasa Rao Vs. Asst.Commissioner Of D.No.1-84-16/1/1, Plot No.231/4 Income Tax Mvp Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adypg4435G] रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Cit(Dr) निर्धाऩरती की ओरसे / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 07.09.2021 घोर्णध की तधरीख/Date Of Pronouncement : 17.09.2021

1), Vsp/2017-18 dated 25.03.2019 and the assessee filed cross objection in support of the order of the Ld.CIT(A). The assessee also filed cross appeals for the Assessment Year (A.Y.) 2013-14. For the A.Y 2014-15 the assessee filed the appeal. Since the facts are identical, these appeals are clubbed, heard together and a common order is being passed

GANTA SRINIVASA RAO,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1),, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.417/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) Asst.Commissioner Of Income Tax Vs. Shri Ganta Srinivasa Rao Circle-3(1) D.No.1-84-16/1/1, Plot Visakhapatnam No.231/4, Mvp Colony Visakhapatnam [Pan : Adypg4435G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.04/Viz/2020 (Arising Out Of I.T.A.No.417/Viz/2019) (निर्धारण वर्ा/Assessment Year:2013-14) Shri Ganta Srinivasa Rao Vs. Asst.Commissioner Of D.No.1-84-16/1/1, Plot No.231/4 Income Tax Mvp Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adypg4435G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.423/Viz/2019 & 424/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14 & 2014-15) Shri Ganta Srinivasa Rao Vs. Asst.Commissioner Of D.No.1-84-16/1/1, Plot No.231/4 Income Tax Mvp Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adypg4435G] रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Cit(Dr) निर्धाऩरती की ओरसे / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 07.09.2021 घोर्णध की तधरीख/Date Of Pronouncement : 17.09.2021

1), Vsp/2017-18 dated 25.03.2019 and the assessee filed cross objection in support of the order of the Ld.CIT(A). The assessee also filed cross appeals for the Assessment Year (A.Y.) 2013-14. For the A.Y 2014-15 the assessee filed the appeal. Since the facts are identical, these appeals are clubbed, heard together and a common order is being passed

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM vs. GANTA SRINIVASA RAO, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.417/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) Asst.Commissioner Of Income Tax Vs. Shri Ganta Srinivasa Rao Circle-3(1) D.No.1-84-16/1/1, Plot Visakhapatnam No.231/4, Mvp Colony Visakhapatnam [Pan : Adypg4435G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.04/Viz/2020 (Arising Out Of I.T.A.No.417/Viz/2019) (निर्धारण वर्ा/Assessment Year:2013-14) Shri Ganta Srinivasa Rao Vs. Asst.Commissioner Of D.No.1-84-16/1/1, Plot No.231/4 Income Tax Mvp Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adypg4435G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.423/Viz/2019 & 424/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14 & 2014-15) Shri Ganta Srinivasa Rao Vs. Asst.Commissioner Of D.No.1-84-16/1/1, Plot No.231/4 Income Tax Mvp Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adypg4435G] रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Cit(Dr) निर्धाऩरती की ओरसे / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 07.09.2021 घोर्णध की तधरीख/Date Of Pronouncement : 17.09.2021

1), Vsp/2017-18 dated 25.03.2019 and the assessee filed cross objection in support of the order of the Ld.CIT(A). The assessee also filed cross appeals for the Assessment Year (A.Y.) 2013-14. For the A.Y 2014-15 the assessee filed the appeal. Since the facts are identical, these appeals are clubbed, heard together and a common order is being passed