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4 results for “capital gains”+ Section 56(2)(vii)clear

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Key Topics

Section 143(3)4Section 1474Section 142(1)3Section 143(2)3Section 683Addition to Income3Section 1482Section 56(2)(vii)2Section 80P(2)2

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

ITA 482/VIZ/2024[2020-21]Status: DisposedITAT Visakhapatnam10 Oct 2025AY 2020-21

Bench: Us:

Section 143(3)Section 144BSection 48

56,62,270/-, after treating the aforesaid amount of Rs. 9 crores as non-deductible. 7 ITA No.482/Viz/2024 & CO No.03/Viz/2025 Surendra Nath Gubbala 5. Aggrieved, the assessee carried the matter in appeal before the CIT(A). The assessee submitted before the CIT(A) that the property was encumbered under SARFAESI proceedings that were initiated by both banks, as the same

INCOME TAX OFFICER, WRD-1, BHIMAVARAM vs. YENDANGANDHI LARGE SIZED CO-OPERATIVE SOCIETY LTD, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

ITA 243/VIZ/2022[2018-19]Status: DisposedITAT Visakhapatnam22 Nov 2023
Capital Gains2
Deduction2
Disallowance2
AY 2018-19

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.243/Viz/2022 (निर्धारण वर्ा / Assessment Year : 2018-19) Income Tax Officer Vs. M/S Yendagandhi Large Sized Ward-1 Co-Operative Society Ltd. Bhimavaram D.No.4-13, K.K.Road Yendagandi, West Godavari Dist [Pan : Aacat0967G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.01/Viz/2023 (Arising Out Of I.T.A.No.243/Viz/2022) (निर्धारण वर्ा / Assessment Year : 2018-19) M/S Yendagandhi Large Sized Co- Income Tax Officer Operative Society Ltd. Ward-1 D.No.4-13, K.K.Road Bhimavaram Yendagandi, West Godavari Dist [Pan : Aacat0967G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Assessee By : Shri G.V.N.Hari, Ar Revenue By : Shri Madhukar Aves, Dr सुिवधई की तधरीख / Date Of Hearing 10.10.2023 : घोर्णध की तधरीख/Date Of Pronouncement : 22.11.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: This Appeal Is Filed By The Revenue Against The Order Of Commissioner Of Income Tax (Appeals) [Cit(A)], National Faceless

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Madhukar Aves, DR
Section 143(1)Section 143(2)Section 143(3)Section 56Section 80PSection 80P(2)

56 of the Act. In response to the show cause letter and the draft assessment order, the assessee furnished it’s objections vide letter dated 01.02.2021, submitting that the District Central Cooperative Bank Ltd. is also formed under the State Cooperative Societies Registration Act and all the primary agricultural cooperative credit societies like the assessee only are the members

KANCHAN LALWANI,VIZIANAGARAM vs. INCOME TAX OFFICER, WARD-1, VIZIANAGARAM

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

ITA 484/VIZ/2025[2021-22]Status: DisposedITAT Visakhapatnam31 Oct 2025AY 2021-22

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 234ASection 56(2)(x)Section 68

capital gains and income from other sources for the previous year relevant to the A.Y. 2021-22. In other words, the assessee does not have income from business or profession. If an assessee does not have income from business, the assessee does not require to maintain books of account for computation of income in terms of section 145 or 145A

RAMESH MANNAVA,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, appeal of the assessee is allowed for statistical purposes as mentioned herein above

ITA 252/VIZ/2023[2015-16]Status: DisposedITAT Visakhapatnam01 Dec 2023AY 2015-16

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./ I.T.A. No. 252/Viz/2023 ("नधा"रण वष" / Assessment Year : 2015-16) Mr. Ramesh Mannava, Vs. Income Tax Officer, 5-60-213/1, Msr Cotton Ward-2(1), Corporation, 4/4 Ashok Nagar, Guntur. Guntur, Andhra Pradesh-522007. Pan: Agdpm 8289 Q (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri C. Subrahmanyam, Ar ""याथ" क" ओर से / Respondent By : Sri Madhukar Aves, Sr. Ar

For Appellant: Sri C. Subrahmanyam, ARFor Respondent: Sri Madhukar Aves, Sr. AR
Section 142(1)Section 144Section 147Section 148Section 250Section 56(2)(vii)

capital gains for the AY 2015-16 but the notices were not complied with by the assessee. Accordingly, the Ld. AO proceeded to complete the assessment U/s. 144 of the Act based on the material available on record. Thus, the Ld. AO 4 completed the assessment U/s. 147 r.w.s 144 of the Act and passed the assessment order dated 27/09/2021