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

Bench: Us:

section 48 of the I.T. Act, 1961, the income chargeable under the head “Capital Gains” shall be computed by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset, the following amounts, namely (i) Expenditure incurred wholly and exclusively in connection with such a transfer; (ii) The cost

R.VENKATA DHANA LAKSHMI LEGAL HEIR OF LATE R. VENKATESWARA RAO,LINGAPALEM MANDAL vs. THE INCOME TAX OFFICER, WARD-2, , ELURU

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

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.121/Viz/2020 (निर्धारण वर्ा/Assessment Year:2010-11) R.Venkata Dhana Lakshmi Vs. Income Tax Officer (Wife & Legal Heir Of Late Ward-2 R.Venkateswara Rao) Eluru Prop : Bharthi Teja Constructions D.No.3-158, Western Street Dharmajigudem Lingapalem Mandal West Godavari [Pan : Agfpr6873H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

80,200 Long Term Capital Gains : Rs.4,91,800 5.2.1. Similarly, the AO arrived at the sale consideration of built up area at Rs.27,30,000/- @Rs.600/- per sq.ft. including car parking area for four flats the total built up area was 4550 sq.ft., which was received by the assessee towards his share. Accordingly, the AO made the addition

APPANA HARI NAGA VENKATA RAO,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleappana Hari Naga Venkat Rao, Vs. Ito, Ward-1(4), D.No. 15-32-7, Gokul Road, Visakhapatnam. Maharanipeta, Visakhapatnam. Pan No. Adopa 5287 G (Appellant) (Respondent)

capital gains. 4. On being aggrieved, the assessee carried the matter in appeal before the ld. CIT(A). Before the ld. CIT(A), the assessee has filed a detailed submission, which is as under:- ―1. The appellant entered into an "Agreement to Sell" with Vira Chand Bothra on the 17th Day of July 2010 for a total consideration of Rs.190

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:

capital gains at Rs. 5,435/-. The Ld. AO thus completed the assessment U/s. 143(3) r.w.s 147 of the Act on 19/03/2022 assessing the total income at Rs. 7,80,035/-. 3. Thereafter, by virtue of the powers vested U/s. 263 of the Act, the Ld. CIT (IT & TP), Hyderabad considered the order of the Ld. AO passed

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:

capital gains at Rs. 5,435/-. The Ld. AO thus completed the assessment U/s. 143(3) r.w.s 147 of the Act on 19/03/2022 assessing the total income at Rs. 7,80,035/-. 3. Thereafter, by virtue of the powers vested U/s. 263 of the Act, the Ld. CIT (IT & TP), Hyderabad considered the order of the Ld. AO passed

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, GUNTUR vs. ANDHRA TRADE DEVELOPMENT CORPORATION PRIVATE LIMITED, GUNTUR

In the result, appeal filed by the Revenue and the cross objection filed by the assessee are dismissed

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

80 ITR 21) and also the decision of Hon'ble Madhya Pradesh High Court in the case of Sri Kishan Chandmal (60 ITR 303) held that unabsorbed depreciation and business loss can be set off against short term capital gains computed u/s. 50 ofthe Act. In the present case, the appellant in the return clearly mentioned that capital gains arose

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

section 48 and 49 as required in the case of normal capital gains. Hence, observed that there is no need to consider indexed cost of acquisition or improvement in the slump sale. Thus, held that the long term capital gains is the difference between lump sum consideration and net worth of undertaking. Accordingly, directed the AO to compute the long

KONDA VENKATESWARA REDDY,,VIJAYAWADA vs. THE INCOME TAX OFFICER, WARD - 3(3),, VIJAYAWADA

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.146/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2016-17) Konda Venkateswara Reddy Vs. Income Tax Officer D.No.44-15-97 Ward-3(3) Lenin Nagar, Gunadala Vijayawada Vijayawada [Pan : Akmpv9138J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri Karthik Manickam, Dr सुनवधई की तधरीख / Date Of Hearing : 11.04.2022 घोर्णध की तधरीख/Date Of Pronouncement : 29.04.2022 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: Condonation Of Delay : This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals), Vijayawada Dated 10.02.2020 With The Delay Of 34 Days For The Assessment Year (A.Y.) 2016-17. The Assessee Filed Petition For Condonation Of Delay, Stating That The Delay Was Due To Covid-19 Pandemic & Lockdown Declared By The State Government. There Was No Malafide Intention In Filing The Appeal

80,000/-, whereas, the market value as per the basic register is Rs.10,000/- per sq.yd and the total chargeable value for each document is Rs.2,42,00,000/-, aggregating to Rs.7,26,00,000/-. Since the income from capital gains arising from transfer of said immovable property was not affected to tax by the assessee by filing his return

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 115BBE 4. All the above grounds of appeal are mutually exclusive and without prejudice to one another. 5. The appellant craves leave to add to; alter; amend; modify or delete all or any of the above grounds of appeal.” 5. Ground Nos. 1, 4 & 5 are general in nature and needs no adjudication. 6. Ground No. 2 relates

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

Section 2(47) of the Act. The ld.AR relied upon the decision of co-ordinate Bench of the Tribunal in the case of Smt. T. Urmila Vs. ITO in ITA No.398/Hyd/2012 dt.12.12.2012 and referred to paras 59 to 65, 70 to 72 and 79 and 80 of the said order. In addition to the above, ld.AR has also submitted that

SYED YAKUB SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

Capital Gains I.T.A. No. Name of the assessee share assessed (Rs.) 578/Viz/2013 Sri Syed Yokub Shariff 5 6,17,596 579/Viz/2013 Sri Syed Ibrahim Shariff 5 6,17,596 581/Viz/2013 Smt.Hazara Begum 80 98,81,593 Legal Heir of Late Sri Syed Rehman Shariff 580/Viz/2013 Sri Syed Abdullah Shariff 5 6,17,596 The common grounds No.1

SYED IBRAHIM SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

Capital Gains I.T.A. No. Name of the assessee share assessed (Rs.) 578/Viz/2013 Sri Syed Yokub Shariff 5 6,17,596 579/Viz/2013 Sri Syed Ibrahim Shariff 5 6,17,596 581/Viz/2013 Smt.Hazara Begum 80 98,81,593 Legal Heir of Late Sri Syed Rehman Shariff 580/Viz/2013 Sri Syed Abdullah Shariff 5 6,17,596 The common grounds No.1

SYED MOHAMMED SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

Capital Gains I.T.A. No. Name of the assessee share assessed (Rs.) 578/Viz/2013 Sri Syed Yokub Shariff 5 6,17,596 579/Viz/2013 Sri Syed Ibrahim Shariff 5 6,17,596 581/Viz/2013 Smt.Hazara Begum 80 98,81,593 Legal Heir of Late Sri Syed Rehman Shariff 580/Viz/2013 Sri Syed Abdullah Shariff 5 6,17,596 The common grounds No.1

SYED RAHMAN SHARIFF,,VISAKHAPATNAM vs. THE DCIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result, appeals of the assessees are allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.577/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Smt. Sofia Sadique Vs. Dy.Commissioner Of Legal Heir Of Late Syed Income Tax Mohammed Shariff Central Circle-1 C/O I.Kamasastry Visakhapatnam Sri Sai Lalitha Ramam 9-16-29/1, Cbm Compound’ Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.578/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Yakub Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound Visakhapatnam Near Rama Talkies Visakhapatnam आयकर अपील सं./I.T.A.No.579/Viz/2013 (ननधधारण वर्ा/A.Y : 2007-08) Sri Syed Ibrahim Shariff Vs. Dy.Commissioner Of C/O I.Kamasastry Income Tax Sri Sai Lalitha Ramam Central Circle-1 9-16-29/1, Cbm Compound’ Visakhapatnam Near Rama Talkies Visakhapatnam

Capital Gains I.T.A. No. Name of the assessee share assessed (Rs.) 578/Viz/2013 Sri Syed Yokub Shariff 5 6,17,596 579/Viz/2013 Sri Syed Ibrahim Shariff 5 6,17,596 581/Viz/2013 Smt.Hazara Begum 80 98,81,593 Legal Heir of Late Sri Syed Rehman Shariff 580/Viz/2013 Sri Syed Abdullah Shariff 5 6,17,596 The common grounds No.1

THE ACIT, CIRCLE-1(1),, VISAKHAPATNAM vs. A.VENKATA MONISH SAMARENDRA ROW, VISAKHAPATNAM

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No. 684/Viz/2013 (निर्धारण वर्ा/Assessment Year : 2010-11) Smt.Ankitham Jagga Row Indrani Vs. Income Tax Officer C/O M/S A.V.Bhanoji Row Ward-1(1) G.P.Ramayya & Co., Port Area Visakhapatnam Visakhapatnam [Pan :Afvpa3791G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No. 685/Viz/2013 (निर्धारण वर्ा/Assessment Year : 2010-11) Sri A.Venkata Monish Samarendra Vs. Asst.Commissioner Of Row Income Tax D.No.10-28-4/31, Flat No.P-2 Circle-1(1) Deepanjali, Waltair Uplands Visakhapatnam Siripuram, Visakhapatnam [Pan :Acvpa 4899A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.692/Viz/2013) (निर्धारण वर्ा/Assessment Year : 2010-11) Income Tax Officer Vs. Smt. Ankitham Jagga Row Ward-1(1) Indrani Visakhapatnam D.No.10-28-4/31P-2 Deepanjali Waltair Uplands, Siripuram Visakhapatnam [Pan :Afvpa3791G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital gains. For the sake of clarity and convenience, we extract relevant part of the order of the Ld.CIT(A) in para No.5.3 to 5.4 which reads as under : “5.3. It is relevant to go into the valuation report, which has given the basis for arriving at the value as under : Rate Analysis based on Ground Reality

ANKITHAM VENKATA MONISH SAMARENDRA ROW,VISAKHAPATNAM vs. THE ACIT, CIRCLE-1(1),, VISAKHAPATNAM

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No. 684/Viz/2013 (निर्धारण वर्ा/Assessment Year : 2010-11) Smt.Ankitham Jagga Row Indrani Vs. Income Tax Officer C/O M/S A.V.Bhanoji Row Ward-1(1) G.P.Ramayya & Co., Port Area Visakhapatnam Visakhapatnam [Pan :Afvpa3791G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No. 685/Viz/2013 (निर्धारण वर्ा/Assessment Year : 2010-11) Sri A.Venkata Monish Samarendra Vs. Asst.Commissioner Of Row Income Tax D.No.10-28-4/31, Flat No.P-2 Circle-1(1) Deepanjali, Waltair Uplands Visakhapatnam Siripuram, Visakhapatnam [Pan :Acvpa 4899A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.692/Viz/2013) (निर्धारण वर्ा/Assessment Year : 2010-11) Income Tax Officer Vs. Smt. Ankitham Jagga Row Ward-1(1) Indrani Visakhapatnam D.No.10-28-4/31P-2 Deepanjali Waltair Uplands, Siripuram Visakhapatnam [Pan :Afvpa3791G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital gains. For the sake of clarity and convenience, we extract relevant part of the order of the Ld.CIT(A) in para No.5.3 to 5.4 which reads as under : “5.3. It is relevant to go into the valuation report, which has given the basis for arriving at the value as under : Rate Analysis based on Ground Reality

THE ITO, WARD-1(1),, VISAKHAPATNAM vs. SMT. ANKITHAM INDRANI JAGGA ROW,, VISAKHAPATNAM

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No. 684/Viz/2013 (निर्धारण वर्ा/Assessment Year : 2010-11) Smt.Ankitham Jagga Row Indrani Vs. Income Tax Officer C/O M/S A.V.Bhanoji Row Ward-1(1) G.P.Ramayya & Co., Port Area Visakhapatnam Visakhapatnam [Pan :Afvpa3791G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No. 685/Viz/2013 (निर्धारण वर्ा/Assessment Year : 2010-11) Sri A.Venkata Monish Samarendra Vs. Asst.Commissioner Of Row Income Tax D.No.10-28-4/31, Flat No.P-2 Circle-1(1) Deepanjali, Waltair Uplands Visakhapatnam Siripuram, Visakhapatnam [Pan :Acvpa 4899A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.692/Viz/2013) (निर्धारण वर्ा/Assessment Year : 2010-11) Income Tax Officer Vs. Smt. Ankitham Jagga Row Ward-1(1) Indrani Visakhapatnam D.No.10-28-4/31P-2 Deepanjali Waltair Uplands, Siripuram Visakhapatnam [Pan :Afvpa3791G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

capital gains. For the sake of clarity and convenience, we extract relevant part of the order of the Ld.CIT(A) in para No.5.3 to 5.4 which reads as under : “5.3. It is relevant to go into the valuation report, which has given the basis for arriving at the value as under : Rate Analysis based on Ground Reality

SMT. T.V. PADMAVATHI,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, the appeal of the assessee is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.351/Viz/2016 (धििाारण िर्ा/ Assessment Year: 2012-2013) Smt.T.V.Padmavathi Vs. Income Tax Officer 40-15-11, Flat No.3 Ward-2(2) Sudha Apartments Vijayawada Greenland Hotel Road Vijayawada – 520 010 [Pan : Acxpt4644C] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

80,36,440/- from the withdrawals from the capital account of the firm in equity share capital of Rameshwar Steel and Power Limited during the year 2006-07 and has not received any dividend or interest from the said company. The said amount was outstanding in the impugned assessment year also. The Ld.CIT(A) further observed from the books