MANNE SUBBA RAO,RAJAMAHENDRAVARAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), , RAJAMAHENDRAVARAM

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

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.158/Viz/2018 (धििाारण िर्ा/ Assessment Year: 2014-2015) Manne Subba Rao Acit, Circle-2(1) D.No.78-15-21/5,T-1, Rajamahendravaram Block-1, Rama Residency Syamala Nagar Rajamahendravaram [Pan : Ayyps 3433R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यार्थी की ओर से/ Respondent By : Smt. Suman Malik, Dr

capital in nature 3. There must be a transfer of such asset u/s. 2(47) of the Act. 4. The transfer must be for some consideration u/s. 48 of the Act. 5. The consideration must be in monetary terms. 6. Profits or gains must arise by way of transfer. 5.4. Section 45

YALAMANCHILI NEELIMA,,GUNTUR vs. THE INCOME TAX OFFICER, WARD-2(2),, GUNTUR

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

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

45 on the basis of the cost of such new asset as provided in clause, (a) or, as the case may be, clause (b), of sub-section (I) shall be deemed to be income chargeable under the head "Capital gains" relating to long-term capital assets of the previous year in which such new asset is transferred.'. The assessee

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

Bench: Us:

45,000/- to the aforementioned society and banks. The assessee, while computing the Long-term capital gain (LTCG), claimed the aforesaid payment of Rs. 9 crore (supra) as a deduction under Section 48(i) of the Act. 24. To sum up, as per the sale deed, dated 13.06.2019, and the MoU, the subject property was under encumbrance with

SANNIDHI SRI RAMACHANDRA MURTHY (HUF),RAJAHMUNDRY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A. No. 230/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2013-14) Sannidhi Sriramachandra Murthy (Huf) V. The Assistant Commissioner Of D.No. 42-10-30/31 Income Tax, Circle-1 Income Tax Office, Aayakar Bhavan Sree Ramachandra Murthy Nilayam Veerabhadrapuram Mangalavarapu Peta Rajahmundry-533105 Rajahmundry – 533101 Andhra Pradesh Andhra Pradesh [Pan: Aaxhs4350L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व / Assessee Represented By : Shri Gvn Hari, Ar राजस्व का प्रतततितित्व / Department Represented By : Dr. Satyasaai Rath, Cit(Dr)

45(2) any profits or gains arising from the transfer by way of conversion by the owner of a capital asset into or its treatment as stock-in-trade of that business carried on by him then such profits and gains is to be charged under the head capital gains, once the said stock-in-trade is sold

ARABOLU VENKATA NAGA DEEPATHI REPRESENTED BY POWER OF ATTORNEY HOLDER, N. SATYARAMANUJAMM ,VISAKHAPATNAM vs. INCOME TAX OFFICER(INTERNATIONAL TAXATION), VISAKHAPATNAM

In the result, the appeal fails and the same is hereby dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.178/Viz/2018 (ननधधारण वर्ा/ Assessment Year : 2010-11) Smt.Arabolu Venkata Naga Deepthi Vs. Income Tax Officer Rep. By Power Of Attorney Holder (International Taxation) Smt. N.Satyaramanujam Visakhapatnam Flat No.403, Dhanna Apartments Seethammadhara Visakhapatnam [Pan : Atcpa6413A] (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent)

45 as income of the previous year in which the period of three years from the date of the transfer of the original asset expires ; and (ii) the assessee shall be entitled to withdraw the unutilised amount in accordance with the scheme aforesaid. Explanation.—73[Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]] The plain reading of section

SMT. KANCHARLAPALLI HEMALATHA,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, the appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.322/Viz/2016 (धििाारण िर्ा/Assessment Year:2010-2011) Smt.Kancharlapalli Hemalatha Vs. Income Tax Officer Flat No.102, Sri Kesava Heights Ward-2(3) D.No.59A-21/3-5/2 Vijayawada Vizayanagar Colony Vijayawada [Pan :Bcmpk6735M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 54F to provide that where any capital gain arises from the transfer of any long term capital asset, other than a residential house, and the assessee purchases within one year before or after the date on which the transfer took place or constructs within a period of three years after the date of transfer, a residential house the capital

SMT GOGINENI SARADA VANI,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, appeal filed by the Revenue is dismissed and that of assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleito, Ward-2(2), Vs. Smt. Gogineni Sarada Vijayawada. Vani, 40-7-13, J.C. Plaza, Jammichettu Street, Moghalrajpuram, Vijayawada. Pan No. Acfpg 5834 R (Appellant) (Respondent) Smt. Gogineni Sarada Vani, Vs. Ito, Ward-2(2), 40-7-13, J.C. Plaza, Vijayawada. Jammichettu Street, Moghalrajpuram, Vijayawada. Pan No. Acfpg 5834 R (Appellant) (Respondent)

section 45(2), in applying for layout, getting it approved and selling the same in plots by engaging services of marketing agent, to whom an amount of Rs. 1,50,000/- was paid. It established that the activity is in the nature of business (adventure in trade). In view of the above, the Assessing Officer has treated the above transaction

THE ITO,, VIJAYAWADA vs. SMT GOGINENI SARADA VANI,, VIJAYAWADA

In the result, appeal filed by the Revenue is dismissed and that of assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleito, Ward-2(2), Vs. Smt. Gogineni Sarada Vijayawada. Vani, 40-7-13, J.C. Plaza, Jammichettu Street, Moghalrajpuram, Vijayawada. Pan No. Acfpg 5834 R (Appellant) (Respondent) Smt. Gogineni Sarada Vani, Vs. Ito, Ward-2(2), 40-7-13, J.C. Plaza, Vijayawada. Jammichettu Street, Moghalrajpuram, Vijayawada. Pan No. Acfpg 5834 R (Appellant) (Respondent)

section 45(2), in applying for layout, getting it approved and selling the same in plots by engaging services of marketing agent, to whom an amount of Rs. 1,50,000/- was paid. It established that the activity is in the nature of business (adventure in trade). In view of the above, the Assessing Officer has treated the above transaction

YADLA SRINIVASA RAO,VIJAYAWADA vs. THE INCOME TAX OFFICER, WARD-3(2), , VIJAYAWADA

In the result, appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.78/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2011-12) Yadla Srinivasa Rao Vs. Income Tax Officer D.No.20-04-190/7A Ward-3(2) Basavataraka Nagar Vijayawada Ayodhya Nagar Vijayawada [Pan : Abfpy5447F] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

gains of Rs.13,45,910/-. For the sake of clarity, the provisions of section 50C are extracted as under : Special provision for full value of consideration in certain cases. 50C. (1) Where the consideration received or accruing as a result of the transfer by an assessee of a capital asset, being land or building or both, is less than

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]

capital gains in accordance with the provisions of section 45(2) of the Act as well as business income of the assessee on sale of plots with reference to the issue of sale of plots during the period relevant to the A.Y.2017-18. The Ld.PCIT directed the AO to afford an opportunity of being heard to the assessee before passing

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

5. In CIT v. Kanpur Coal Syndicate, a three Judge bench of this Court discussed the scope of Section 31(3)(a) of the Income Tax Act, 1922 which is almost identical to Section 251(1)(a). The court held as under: (ITR p. 229) "If an appeal lies, Section 31 of the Act describes the powers of the Appellate

VENKATARAM SPINNING MILLS PRIVATE LIMITED,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, assessee appeal is partly allowed

Bench: Shri Laliet Kumar & Shri Balakrishnan. Sassessment Year: 2017-18 Venkataram Spinning Mills Vs. The Income Tax Officer, Ward – 2(1), Private Limited, Guntur. Guntur. Pan : Aafcv2151H. (Appellant) (Respondent) Assessee By: Shri Gvn Hari, Ar. Revenue By: Shri Ld.Dr. Satyasai Rath, Cit- Dr. Date Of Hearing: 20.01.2025 Date Of Pronouncement: 04.02.2025

Capital Gain from sale of land which was claimed to be agricultural land by the appoint All these grounds are relating to same issue and as they are Interconnected, they are being as these grounds are The appellant has not filed any details during appellate proceedings and hence this order is passed on the basis of information filed by.164) Appellant

THE DEPUTY COMMISSIONER OF INCOME TAX OFFICER (INTERNATIONAL TAXATION), VISAKHAPATNAM vs. BABU RAJENDRA PRASAD VADLAMUDI, GUNTUR

In the result, appeal of the Revenue is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.154/Viz/2019 ("नधा"रणवष"/ Assessment Year : 2011-12) The Deputy Commissioner Of Vs. Sri Babu Rajendra Prasad Income Tax (International Vadlamudi, Taxation), Visakhapatnam. Guntur. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri A. Chaitanya, Ar ""याथ"क"ओरसे/ Revenue By : Sri On Hari Prasada Rao, Sr. Ar सुनवाईक"तार"ख/ Date Of Hearing : 30/03/2023 घोषणाक"तार"ख/Date Of : 23/05/2023 Pronouncement O R D E R

capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45: Provided that nothing contained in this sub-section shall apply where— 6 (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset

THE ITO,, GUNTUR vs. SRI KALARI VENKATA RASAIAH (HUF), GUNTUR

In the result, the appeal of the revenue is dismissed

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

capital gain the same proportion as the cost of the new asset bears to the net consideration, shall not be charged under section 45”. 7. In the instant case, the assessee has satisfied the conditions for allowing the deduction u/s 54F of the Act, i.e. investment was made within the time limit allowed under I.T act. Property purchased

GINJALA ATCHIRAJU, L/R. OF GINJALA SIMHADRI RAJU, ,KAKINADA vs. INCOME-TAX OFFICER, WARD -1, , KAKINADA

In the result, appeal of the assessee is partly allowed

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

45,155/-. The assessee during the course of the survey operations submitted that he has erroneously considered the sale consideration and the cost of acquisition and hence correct long term capital gains could not be admitted in his return of income. He also submitted that the entire investment in the land and buildings was made by him and his daughter

NATTA SURYA RAO,TANUKU vs. THE INCOME TAX OFFICER, WARD-1, TANUKU

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.404/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2009-10) Natta Suryarao Vs. Income Tax Officer S/O Late Manganna Ward-1 D.No.2-20-5 Tanuku Ambati Vari Street Old Town, Tanuku [Pan :Ahrpn 9648M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri.Y.Ratnakar, Ar प्रत्यधथी की ओर से / Respondent By : Smt.Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 05.09.2019 घोर्णध की तधरीख/Date Of Pronouncement : 04 .10.2019 आदेश /O R D E R

section 45(2) of the Act and as to why the exemption claimed u/s 54F should not be disallowed? Since, the assessee did not satisfy the conditions for allowing the deduction u/s 54F of the Act. In response there to, the assessee filed a letter stating that he is an agriculturist and not having any residential house, sold the agricultural

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

45,34,020/- and the same was registered on 12/12/2013. The Ld. Pr. CIT observed that the assessee only entered into an agreement of sale on 10/11/2009 to purchase the property however it was registered in December, 2013 vide sale deed dated 12/12/2013. The Ld. Pr. CIT also observed that the assessee sold the property for Rs.92

K. SANTHA KUMARI,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

In the result, appeals of the assessees are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.123/Viz/2017 (ननधधारण वर्ा / Assessment Year : 2011-12) Katragadda Muralikrishna Vs. Income Tax Officer D.No.38-37-24, Bhaskar Gardens Ward-4(1) Marripalem Visakhapatnam Visakhapatnam [Pan : Akipk7339L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

45 of the Act. The AO completed the assessment u/s 144 ex-parte, assessing the short term capital gains of Rs.44,71,100/-. 3. Aggrieved by the order of the AO, the assessee preferred an appeal before the CIT(A). The Ld.AR contended before the Ld.CIT(A) that there was no passing of consideration as the assessee did not realize