KUMAR PAPPU SINGH,TANUKU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, , ELURU

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.270/Viz/2018 (धििाारण िर्ा/Assessment Year:2013-2014) Sri Kumar Pappu Singh Vs. Dy.Commissioner Of D.No.23-3-26, Sundaram Nagar Income Tax, Sajjapuram Circle-1, Kks Towers, Tanuku Rr Pet, Eluru [Pan : Aeepp2496P] Andhra Pradesh (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital gain tax is not attracted. The transaction between the closer relatives should not be seen as introducing black money or evasion of the tax. Therefore, we are of the considered opinion that the transaction is within the family and close relatives and covered by the proviso to section 56

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), , VISAKHAPATNAM vs. DEVI SEA FOODS LIMITED, , VISAKHAPATNAM

In the result, appeal of the revenue as well as the cross objections of the assessee are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.497/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) Asst.Commissioner Of Income Tax Vs M/S Devi Sea Foods Limited Circle-3(1) D.No.50-1-51/1 Visakhapatnam Asr Nagar, Seethammadhara Visakhapatnam [Pan : Aabcd0248B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.130/Viz/2019 Arising Out Of I.T.A.No.497/Viz/2019 (निर्धारण वर्ा/Assessment Year:2013-14) M/S Devi Sea Foods Limited Vs Asst.Commissioner Of D.No.50-1-51/1 Income Tax Asr Nagar Circle-3(1) Seethammadhara Visakhapatnam Visakhapatnam [Pan : Aabcd0248B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व कीओर से /Revenue By : Shri S.Ravi Shankar Narayan, Cit, Dr निर्धाऩरती की ओर से / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 08.06.2020 घोर्णध की तधरीख/Date Of Pronouncement : 19.06.2020

56,370/- as long term capital gains on the slump sale as per the provisions of sec.50B of the Income Tax 3 I.T.A. No.497/Viz/2019 and CO No.130/Viz/2019, A.Y.2013-14 M/s Devi Sea Foods Ltd., Visakhapatnam Act, 1961 (in short ‘Act’). In doing so, the assessee has treated these 3 windmills as a single unit and as a separate “undertaking”. On verification

CHINTALA RAMBABU,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-3(3), , VISAKHAPATNAM

In the result, appeal filed by the assessee is partly allowed

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

56,000/- as per section 50C of the Act. Accordingly, case of the assessee was reopened and assessment was completed by taxing the capital gains

MUMMALANENI RAGHAVAN,GUNTUR vs. INCOME TAX OFFICER, GUNTUR

capital gains was deleted.", "result": "Allowed", "sections": [ "147", "144", "271(1)(c)", "144B", "194A", "56", "45", "48" ], "issues": "Whether capital

YENUGULA CHANDRA RAO,,VIJAYAWADA vs. ITO, WARD-1(1),, VIJAYAWADA

In the result, appeal filed by the assessee is partly allowed

Bench: Shri V. Durga Rao, Hon’Bleyenugula Chandra Rao, Vs. Ito, Ward-1(1), Prop : M/S. Rajanu Jewellers, Vijayawada. D.No. 11-49-336B, Sivalayam Street, Vijayawada. Pan No. Aadpy 5910 C (Appellant) (Respondent)

56,000/-. It is further noticed that the assessee has not shown any capital gain from this transaction for the A.Y. 2013-14. Therefore, a notice u/sec. 142(1) dated 24/11/2015 was issued to the assessee to furnish the details of computation of capital gains. In response thereto, assessee filed a reply dated 26/02/2016 by stating that he had sold

NAGESWARA RAO VISWANADHA,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed

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

capital gains under the provisions of section 50C of the Act is outside the scope of the limited scrutiny for which the case was selected. 3. The Ld. CIT(A) ought to have held that the provisions of section 50C of the Act are not applicable in respect of the property sold by the appellant to Viswanadha Educational Society

VIJAYA DURGA PENUMALA,RAJAHMUNDRY vs. THE INCOME TAX OFFICER, WARD-2(1), RAJAHMUNDRY

In the result, appeal filed by the assessee is allowed for statistical purposes as indicated hereinabove

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./ I.T.A. No.237/Viz/2024 (िनधा"रण वष" / Assessment Year :2016-17)

56,000/- vide Document No. 6224/2015 registered at SRO, Rajanagaram. The source of investment is the advance amount received on the development agreement entered with Bhavya Builders vide Doc. No. 12772/2015 registered at SRO, Rajahmundry by the assessee and her husband. The Ld. AO on verification of the assessee’s return of income observed that the assessee has not paid

VIJAYA DURGA PENUMALA,RAJAHMUNDRY vs. THE INCOME TAX OFFICER, WARD-2(1), , RAJAHMUNDRY

In the result, appeal filed by the assessee is allowed for statistical purposes as indicated hereinabove

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./ I.T.A. No.237/Viz/2024 (िनधा"रण वष" / Assessment Year :2016-17)

56,000/- vide Document No. 6224/2015 registered at SRO, Rajanagaram. The source of investment is the advance amount received on the development agreement entered with Bhavya Builders vide Doc. No. 12772/2015 registered at SRO, Rajahmundry by the assessee and her husband. The Ld. AO on verification of the assessee’s return of income observed that the assessee has not paid

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1),, VISAKHAPATNAM vs. SRI Y VENKANA CHOUDARY,, VISAKHAPATNAM

In the result, appeal filed by the Revenue as well as the cross objection filed by the assessee are partly allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleacit, Circle-4(1), Vs. Y. Venkanna Choudary, Visakhapatnam. D.No. 1-1-2, C/O Anuradha Auto Centre, Sheela Nagar, Nh-5, Visakhapatnam. Pan No. Aanpy 3003 G (Appellant) (Respondent) C.O.No. 108/Viz/2019 (Arising Out Of Ita No. 272/Viz/2018) (Asst. Year : 2014-15) Y. Venkanna Choudary, Vs. Acit, Circle-4(1), D.No. 1-1-2, C/O Anuradha Visakhapatnam. Auto Centre, Sheela Nagar, Nh-5, Visakhapatnam. Pan No. Aanpy 3003 G (Appellant) (Respondent)

capital gain tax is not attracted. The C.O.No.109/VIZ/2018 (Y. Venkanna Choudary) transaction between the closer relatives should not be seen as introducing black money or evasion of the tax. Therefore, we are of the considered opinion that the transaction is within the family and close relatives and covered by the proviso to section 56

R SUHASINI,BHEEMUNIPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 (I/C),, VISAKHAPATNAM

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blesmt. Rajulapalli Suhasini, Vs. Dcit, Central Circle-1, D.No. 12-24-117, Thota Visakhapatnam. Veedhi, Bheemunipatnam, Visakhapatnam District. Pan No. Agfpr 7302 D (Appellant) (Respondent)

section 143(3) r.w.s. 147 of the Act on 31/12/2009 by making an addition of Rs. 26,56,495/- towards short term capital gain

SATHI TRINATHA REDDY,EAST GODAVARI DIST vs. PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

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

Capital Gain Account Scheme on or before the due date of filing of return of income U/s. 139(1) of the Act.” 4. Before us, at the outset, the Ld. Authorized Representative [Ld. AR] submitted that the assessee has provided the copy of documents before the Ld. AO and the Ld. AO after considering the same, accepted the return

HARESH KUMAR LALWANI,VIZIANAGARAM vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1, VISHAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. No.264/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2021-22) Haresh Kumar Lalwani V. Pr.Cit -1 22-1-22, Ambati Satram Junction Aayakar Bhavan, Daba Gardens Vizianagaram – 535002 Visakhapatnam – 530020 Andhra Pradesh Andhra Pradesh [Pan: Aaqpt9248P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital gains. 3. Subsequently, Ld.Pr.CIT by exercising power conferred under section 263 of the Act, he has noted that on examination of the record, it was noticed that the order passed by the Ld. AO is erroneous and prejudicial to the interest of the revenue, in the order of the Ld.Pr.CIT he noted as under: - “1. On perusal

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)

56,000/-. The assessee received his share of sale consideration of Rs.74,71,100/- through cheques, but did not disclose the capital gains on account of sale of property by filing return of income. Since the immovable property purchased by the assessee on 26.12.2007 was sold within 36 months of the purchase, the same was treated as short term capital

KATRAGADDA MURALIKRISHNA,,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)

56,000/-. The assessee received his share of sale consideration of Rs.74,71,100/- through cheques, but did not disclose the capital gains on account of sale of property by filing return of income. Since the immovable property purchased by the assessee on 26.12.2007 was sold within 36 months of the purchase, the same was treated as short term capital

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)

Section 195 of the Act; (iv) the payment of Rs. 56,26,500/- that was made to the NRIs was disclosed by the them in their returns of income wherein they had offered the capital gains

MUMMALANENI RAGHAVAN,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, both the appeals of the assessee are allowed

Bench: Itat, Stating That The Reopening Of Assessment U/S 147 Of The Act Was Based Merely On System Generated Information, Which Is Invalid & Without Any Tangible Material. In The Grounds Of Appeal, It Was Mentioned That The Assessment U/S 147 Is Beyond Time Limit Prescribed & Hence, The Proceedings Are Void-Ab-Initio.

section 144B of the Act and the assessment order was passed on 22.03.2024. Short point for adjudication is, whether the assessee is liable for paying capital consideration. As per the information received by the department, the appellant had entered a Joint Development Agreement with Atha Constructions during the A.Y.2016-17 and as per the agreement, the appellant had received total amount

BODDAPALLI HEMA SUNDARA RAO,GUNTUR vs. INCOME TAX OFFICER, WARD-3(1), VIJAYAWADA

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

56,000. The Assessing Officer (AO) made additions of Rs. 4,47,160 for Long Term Capital Gains and Rs. 28,52,835 as unexplained cash credits. The CIT(A) dismissed the assessee's appeal.", "held": "The Tribunal noted that the assessee had not furnished complete bank statements and capital gains computation to the AO. However, the assessee presented additional

ATR WAREHOUSING PRIVATE LIMITED,VISAKHAPATNAM vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, , VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed

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

capital gains, filed its return of income for the AY 2013-14 on 31/10/2016 declaring a total income of Rs. 1,97,91,850/-. The main source of business income is license fee collected from the tenants for the ware housing godowns at various places viz., Visakhapatnam, Kakinada and Hyderabad. Sri AT Rayudu and Sri A. Avnash are the Directors