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

Bench: Us:

capital gain” on the sale of the subject properties during the year under consideration, had reduced the abovementioned payments aggregating to Rs. 9 crores (supra) as an expenditure that was claimed by him to have been incurred “wholly and exclusively in connection with transfer” under section 48(i) of the Act. The A.O. disallowed the claim observing

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 :

section 2(47)(v) of the Act as was done by the AO during the assessment proceedings. Thus the AO erred in treating the transaction as “Transfer” of property. As such there was not any transfer of property, the question of capital gain & its taxation does not arise at all. Further the appellant submitted that he entered into registered

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)

section 45(2) of the Act, Ld.AR contended. Ld.AR further pleaded that since the allowability of deductions with respect to capital gains arise in the period of sale of stock-in-trade, investment made by the assessee after realisation of stock-in-trade needs to be allowed. 8

SATYANARAYANA VISWANADHA,MACHILIPATNAM vs. INCOME TAX OFFICER, WARD-1, MACHILIPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.223/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2012-13) Satyanarayana Viswanadha V. Ito – Ward – 1 Machilipatnam D.No. 21/411, Bhaskarapuram Krishna District - 521001 Machilipatnam – 521001 Andhra Pradesh Krishna District Andhra Pradesh [Pan: Aatpv0775E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital gains is confirmed.” 8. Respectfully following the decision of the coordinate bench of the Visakhapatnam, we are of the considered view that assessee is eligible for deduction under section

SIVAKAMA SUNDAR MANTHRAVADI,UNITED KINGDOM vs. COMMISSIONER OF INCOME TAX(IT AND TP), HYDERABAD

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.292/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2013-14) Sivakama Sundar Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1372 N Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.295/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Vidyavathi Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1370 Q Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधर्थीकीओरसे/ Assessees By : Ms. P. Chandini, Ar प्रत्यधर्थीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुिवधईकीतधरीख/ Date Of Hearing : 27/03/2024 घोर्णधकीतधरीख/Date Of : 28/05/2024 Pronouncement O R D E R Per S. Balakrishnan:

8 CIT that the assessee got possession of the flat only during February, 2011 and hence the sale of flat on 12/12/2012 shall be considered as short term capital gains. In this context, we hereby extract below the provisions of section

VIDYAVATHI MANTHRAVADI,UNITED KINGDOM vs. COMMISSIONER OF INCOME TAX(IT AND TP), HYDERABAD

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.292/Viz/2023 (निर्धारणवर्ा/ Assessment Year :2013-14) Sivakama Sundar Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1372 N Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकरअपीलसं./ I.T.A. No.295/Viz/2023 (निर्धारणवर्ा/ Assessment Year : 2013-14) Vidyavathi Manthravadi, Vs. Commissioner Of Income Tax United Kingdom. (It & Tp), Pan: Avspm 1370 Q Hyderabad. (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधर्थीकीओरसे/ Assessees By : Ms. P. Chandini, Ar प्रत्यधर्थीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुिवधईकीतधरीख/ Date Of Hearing : 27/03/2024 घोर्णधकीतधरीख/Date Of : 28/05/2024 Pronouncement O R D E R Per S. Balakrishnan:

8 CIT that the assessee got possession of the flat only during February, 2011 and hence the sale of flat on 12/12/2012 shall be considered as short term capital gains. In this context, we hereby extract below the provisions of section

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1),, VISAKHAPATNAM vs. DATLA SHANTI, VISAKHAPATNAM

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

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

Section 2(47) of the Act is extracted herein below for reference: "Transfer”, in relation to a capital asset, includes: (i) Sale, exchange or relinquishment of the asset; (ii) Extinguishment of any rights in relation to a capital asset; ……. ……..” 8. From the plain reading of the above definitions, we find that extinguishment of a right of specific performance

VEERAREDDY GOGULA,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

section 148 of the Act, during the original assessment proceedings. There can be no doubt in the present facts as evidenced by a letter dated 8 September 2012 the very issue of taxability of sale of shares under the head capital gain

SWARAJYAM DONTIREDDY,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

section 148 of the Act, during the original assessment proceedings. There can be no doubt in the present facts as evidenced by a letter dated 8 September 2012 the very issue of taxability of sale of shares under the head capital gain

VIJAYA LAKSHMI RAVULA,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

section 148 of the Act, during the original assessment proceedings. There can be no doubt in the present facts as evidenced by a letter dated 8 September 2012 the very issue of taxability of sale of shares under the head capital gain

KONDA SRINIVASA REDDY,GUNTUR vs. INCOME TAX OFFICER, WARD-2(1), GUNTUR

In the result, all the 4 appeals of the assessee are allowed

Bench: Shri Vijay Pal Rao, Vice-A N D Shri S. Balakrishnanappeal No. Assessee Respondent A.Y 209/Viz/2024 Konda Srinivasa Income Tax Officer 2016-17 Reddy, Guntur, Ward 2(1) Pan:Aafhk9821E Guntur 216/Viz/2024 Veerareddy Gogula - Do - -Do- Guntur Pan:Byapg6481J - Do - 217/Viz/2024 Swarajyam -Do- Dontireddy Guntur Pan:Cmmpd3393K - Do - 218/Viz/2024 Vijaya Lakshmi -Do- Ravula, Guntur Pan:Baopr0163G

section 148 of the Act, during the original assessment proceedings. There can be no doubt in the present facts as evidenced by a letter dated 8 September 2012 the very issue of taxability of sale of shares under the head capital gain

MURALI MOHAN REDDY BONTHU,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-3(1), VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.266/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2017-18) Murali Mohan Reddy Bonthu V. Income Tax Officer – Ward – 3(1) 14/4, Flat No. 503 Cr Building, 1St Floor Annex Sree Satya Sai Towers M.G. Road, Vijayawada – 522002 Andhra Pradesh Main Road Nunna Andhra Pradesh - 521212 [Pan:Aiopb5077E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri I. Kama Sastry, Ca राजस्व का प्रतततितित्व/ Department Represented By : Dr.Aparna Villuri, Sr.Ar

section 54F of the Act by treating the capital gains as short-term gains is bad in law and prayed for deletion of the same. 7. Per contra, Ld. Departmental Representative [hereinafter in short “Ld.DR”] heavily relied on the orders of the Ld. CIT(A). 8

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

8 km away from the outer limits of this Municipality, assessee's land does not come within the purview of section 2(14)(iii) either under sub clause (a) or (b) of the Act, hence the same cannot be considered as capital asset within the meaning of this section. Hence, no capital gain

ARAVINDA BHUPATHIRAJU REP BY GPA HOLDER SRI KAR BAHADUR SRI RAJA,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE (INTERNAL TAXATION), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. (It). No.262/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2015-16) Aravinda Bhupathiraju Vs. Asst. Cit (International Taxation) Rep. By. Gpa Holder Income Tax Office, Infinity Towers, K.A.R. Bahadur Sri Raja Sankaramatam Road Falt No. 502, Sky Aditya Apartment Visakhapatnam- 530016 Gitams Road, Yendada Andhra Pradesh Visakhapatnam – 530045 Andhra Pradesh [Pan:Bjopb0898P] (अपीलधर्थी/Appellant) (प्रत्यर्थी/Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Smt A. Aruna, Advocate राजस्व का प्रतततितित्व/ Department Represented By : Dr.Aparna Villuri, Sr. Ar

Gains / Long-Term Capital Loss from the sale of immovable property. She therefore submitted that the penalty levied by the Ld. AO is justifiable and pleaded for upholding the same. 8. We have heard both the sides and perused the material available on record. It is an admitted and undisputed fact that the assessee has not filed return of income

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

section 271(1)(c) was invoked. However, we find that the assessee has disclosed the cost of acquisition while computing the long term capital gains based on the independent valuer’s report. Further, we also see 8

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

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

capital gains.\n16. Ostensibly, as per the record to which our attention has been\ndrawn by the Ld. AR., we find that the agricultural land of the assessee,\nadmeasuring 111 sq. meters situated at Gudavalli Mandal,\nSubbavaram, District: Visakhapatnam, was compulsorily acquired as\nper - Award No. 8 of 2022, dated 04.02.2022 under Section

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 and the business income of the assessee on sale of plots. We find no infirmity in the order passed by the Ld.PCIT and we are of the firm view that the Ld.PCIT has rightly initiated the proceedings u/s 263. Therefore, we uphold the order

AKUNURI SAI AVINASH,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE (INTERNATIONAL TAXATION), VISAKHAPATNAM

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

Bench: Shri Duvvuru Rl Reddy, Hon‟Ble & Shri S Balakrishnan, Hon‟Bleआयकरअपीलसं./ I.T.A. No.42/Viz/2023 (धनधाारणिर्ा/ Assessment Year : 2016-17) Akunuri Sai Avinash, Vs. The Asst. Commissioner Of Rep. By Gpa Holder Dr. Akunuri Income Tax, Sai Babu, Circle (International Taxation), Visakhapatnam. Visakhapatnam. Pan: (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent) अपीलाथीकीओरसे/ Assessee By : Sri Gvn Hari, Ar प्रत्याथीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुनिाईकीतारीख/ Date Of Hearing : 26/03/2024 घोर्णाकीतारीख/Date Of : 12/04/2024 Pronouncement O R D E R Per S. Balakrishnan:

capital gains based on the date of registration of the sale deed which is in the instant case AY 2016-17. Accordingly, we hereby dismiss the Grounds No. 3 & 4 raised by the assessee. 8 9. With respect to Ground No.5, the Ld. AR argued that the Ld. DVO has valued the property at Rs. 33,49,000/- by adopting