DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM vs. RAJA RAO PARACHURI, VISAKHAPATNAM

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.374/Viz/2024 (िनधा"रण वष"/Assessment Year: 2013-14) Deputy Commissioner Of Vs. Raja Rao Parachuri, Income Tax, Visakhapatnam. Visakhapatnam. Pan: Aatpp2493B (Appellant) (Respondent) िनधा"रती "ारा/Assessee By: P. Murali & Co राज" व "ारा/Revenue By: Shri Badicala Yadagiri, Cit-Dr सुनवाई की तारीख/Date Of 07/08/2025 Hearing: घोषणा की तारीख/Date Of 08/10/2025 Pronouncement: आदेश / Order Per. Ravish Sood, Jm :

ii) Unexplained cash deposits: Rs. 10,50,000/-. 5 DCIT vs. Raja Rao Parachuri 5. Aggrieved, the assessee carried the matter in appeal before the CIT(A), who allowed the same. For the sake of clarity, the observations of the CIT(A) are culled out as under: “5.1. The appellant is an individual and filed his return of income

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

35,77,240/-.\n7. Aggrieved, the assessee carried the matter in appeal before the\nCIT(A). The assessee, inter alia, had claimed before the CIT(A) that the\ncompensation received by him on the compulsory acquisition of his land\nas per the award u/s 3E(1) of the National Highways Act, 1956, bearing\nAward No. 8 of 2022, dated

ARYAPURAM CO=OP. URBANK LTD.,,RAJAHMUNDRY vs. THE ACIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

gains are not profits regulated by any statute, but profits in a business computed on business principles. They are business profits and not statutory profits. They are real profits and not notional profits. The real profit of a businessman under s. 10(1) of the IT Act cannot obviously include the amounts returned by him by way of rebate

THE ARYAPURAM CO-OPERATIVE URBAN BANK LTD.,,RAJAHMUNDRY vs. THE ACIT, CIRCLE - 1, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

gains are not profits regulated by any statute, but profits in a business computed on business principles. They are business profits and not statutory profits. They are real profits and not notional profits. The real profit of a businessman under s. 10(1) of the IT Act cannot obviously include the amounts returned by him by way of rebate

THE ARYAPURAM CO-OPERATIVE URBAN BANK LTD.,RAJAHMUNDRY vs. THE ACIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

gains are not profits regulated by any statute, but profits in a business computed on business principles. They are business profits and not statutory profits. They are real profits and not notional profits. The real profit of a businessman under s. 10(1) of the IT Act cannot obviously include the amounts returned by him by way of rebate

THE ACIT,CIRCLE - 1,, RAJAHMUNDRY vs. M/STHE ARYAPURAM CO-OPRATIVE URBAN BANK LTD.,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

gains are not profits regulated by any statute, but profits in a business computed on business principles. They are business profits and not statutory profits. They are real profits and not notional profits. The real profit of a businessman under s. 10(1) of the IT Act cannot obviously include the amounts returned by him by way of rebate

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

35-39 Accepted DEVI Bankers Share Cheque Capital Investment 4 PBS BHARATHI 1,85000 8,32,500 10,17,500 Through Yes Yes Yes 54-55 Accepted Bankers Share Cheque Capital Investment 5 PBS 1,85000 8,32,500 10,17,500 Through Yes Yes Yes 56-57 Accepted VENKATESWARA Bankers Share RAO Cheque Capital Investment 6 POOSARLA ARUNA 1

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

35-39 Accepted DEVI Bankers Share Cheque Capital Investment 4 PBS BHARATHI 1,85000 8,32,500 10,17,500 Through Yes Yes Yes 54-55 Accepted Bankers Share Cheque Capital Investment 5 PBS 1,85000 8,32,500 10,17,500 Through Yes Yes Yes 56-57 Accepted VENKATESWARA Bankers Share RAO Cheque Capital Investment 6 POOSARLA ARUNA 1

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

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)

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

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

Bench: Us:

capital gain of Rs.13.26 crores (supra) disclosed by the assessee company on sale of the subject agricultural 9 Agri Gold Foods and Farm Products Limited land and was accepted in the course of the original assessment, inter alia, on two grounds viz., (i). that the reopening of the reassessment by the successor A.O. based on a “change of opinion

ITO, WARD-3(3),, VISAKHAPATNAM vs. SHRI K V V PRASAD,, VISAKHAPATNAM

In the result, the appeals of the revenue are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.375/Viz/2017 (ननधधारण वर्ा/Assessment Year:2008-09) Income Tax Officer Vs. Smt.Siripurapu Chinatalli Ward-3(3) D.No.9-16-37/2 Visakhapatnam Gurajada Enclave Cbm Compound Visakhapatnam [Pan : Agrpc1150E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.457/Viz/2017 (ननधधारण वर्ा/Assessment Year: 2008-09) Income Tax Officer Vs. Shri K.V.V.Prasad Ward-3(3) Plot No.301, Vytla Residency Visakhapatnam Balajinagar Siripuram Visakhapatnam (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri D.K.Sonowal, Cit Dr प्रत्यधथी की ओर से/ Respondent By : Shri G.V.N.Hari, Ar सुनवधई की तधरीख / Date Of Hearing : 24.01.2019 : 13.02.2019 घोर्णध की तधरीख/Date Of Pronouncement

capital gains since the investment was made for purchase of land. The assessee 17 I.T.A. Nos.375/Viz/2017 and 457/Viz/2017 Smt. Siripurapu Chinatalli and Shri K.V.V.Prasad, Visakhapatnam has given her interpretation and supported her view with various case laws in the note itself. The department has taken a different view which was not foreseen by the assessee and taxed the entire amount

ITO, WARD-3(3),, VISAKHAPATNAM vs. SIRIPURAPU CHINATALLI,, VISAKHAPATNAM

In the result, the appeals of the revenue are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.375/Viz/2017 (ननधधारण वर्ा/Assessment Year:2008-09) Income Tax Officer Vs. Smt.Siripurapu Chinatalli Ward-3(3) D.No.9-16-37/2 Visakhapatnam Gurajada Enclave Cbm Compound Visakhapatnam [Pan : Agrpc1150E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.457/Viz/2017 (ननधधारण वर्ा/Assessment Year: 2008-09) Income Tax Officer Vs. Shri K.V.V.Prasad Ward-3(3) Plot No.301, Vytla Residency Visakhapatnam Balajinagar Siripuram Visakhapatnam (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri D.K.Sonowal, Cit Dr प्रत्यधथी की ओर से/ Respondent By : Shri G.V.N.Hari, Ar सुनवधई की तधरीख / Date Of Hearing : 24.01.2019 : 13.02.2019 घोर्णध की तधरीख/Date Of Pronouncement

capital gains since the investment was made for purchase of land. The assessee 17 I.T.A. Nos.375/Viz/2017 and 457/Viz/2017 Smt. Siripurapu Chinatalli and Shri K.V.V.Prasad, Visakhapatnam has given her interpretation and supported her view with various case laws in the note itself. The department has taken a different view which was not foreseen by the assessee and taxed the entire amount

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

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

35: Ground no 4 before CIT(A) “The Ld. Assessing Officer is not justified in computing the short term capital gains at Rs.1,83,71,987/- as against short term capital gains of Rs.99,76,950/- returned by assessee.” Issue “With respect to the sale consideration arrived by AO by including the Stamp duty Value of UDS / land

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

ii) on merits. The learned CIT(A) disposed of the appeal filed by the assessee and deleted the additions made by the Assessing Officer towards advance given to M/s. Jaya Balajee Real Media Private Limited on the ground that, the ‘substantive addition’ made in the hands of M/s. Jaya Balajee Real Media Private Limited has been confirmed by the learned

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

ii) on merits. The learned CIT(A) disposed of the appeal filed by the assessee and deleted the additions made by the Assessing Officer towards advance given to M/s. Jaya Balajee Real Media Private Limited on the ground that, the ‘substantive addition’ made in the hands of M/s. Jaya Balajee Real Media Private Limited has been confirmed by the learned

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

In the result, appeals ITA

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

ii) on merits. The learned CIT(A) disposed of the appeal filed by the assessee and deleted the additions made by the Assessing Officer towards advance given to M/s. Jaya Balajee Real Media Private Limited on the ground that, the ‘substantive addition’ made in the hands of M/s. Jaya Balajee Real Media Private Limited has been confirmed by the learned

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

ii) on merits. The learned CIT(A) disposed of the appeal filed by the assessee and deleted the additions made by the Assessing Officer towards advance given to M/s. Jaya Balajee Real Media Private Limited on the ground that, the ‘substantive addition’ made in the hands of M/s. Jaya Balajee Real Media Private Limited has been confirmed by the learned

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)

ii) the resident sellers had earlier entered into an unregistered sale agreement dated 02.01.2016 with the NRIs; (iii) payments made by the assessee (except for Rs.56,26,500/-) were to resident sellers or to the intermediary who had the right to get the land registered in his name or in the name of his nominee, and, thus, such payments were