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6 results for “house property”+ Section 56(1)(vii)clear

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Key Topics

Section 153A12Section 143(3)9Addition to Income6Section 69A3Section 143(2)3Section 683Section 1323Search & Seizure3Section 56(2)(vii)

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

vii) Rajendra Mining Syndicate Vs. CIT (1991) 43 ITR 460 (AP). viii) CIT Vs. Jagadish Sugar Mills (1974) Tax LR 526 (All.) ix) CIT Vs. MD Manohar Rao (1985) 155 ITR 696 (AP). x) Rohtak Textile Mills Ltd (1982) 138 ITR 195 (Del). xi) B.N. Pinto Vs. CIT (1974) 96 ITR 306 (Kar). xii) CIT Vs. C.V. Soundararajan

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

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

ITA 63/VIZ/2021[2017-18]Status: DisposedITAT Visakhapatnam08 Sept 2021
2
Section 56(2)(x)2
AY 2017-18

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.63/Viz/2021 (निर्धारण वर्ा/Assessment Year:2017-18) Dy.Commissioner Of Income Tax Vs. Kanumuri Narasimharaju Circle-3(1) 50-1-23/46, Flat No.202 Visakhapatnam Ksr Complex, C-Block Opp.Rytu Bazaar Seethammadhara Visakhapatnam [Pan : Aerpk2717F] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.40/Viz/2021 (Arising Out Of I.T.A.No.63/Viz/2021) (निर्धारण वर्ा/Assessment Year:2017-18) Kanumuri Narasimharaju Vs. Dy.Commissioner Of Income Tax 50-1-23/46, Flat No.202 Circle-3(1) Ksr Complex, C-Block Visakhapatnam Opp.Rytu Bazaar Seethammadhara Visakhapatnam [Pan : Aerpk2717F] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri B.Satyanarayana Raju, DR
Section 143(2)Section 56(2)Section 56(2)(vii)Section 69A

house property and other sources apart from agricultural income. The case was selected for scrutiny under CASS and notice u/s 143(2) was issued on 28.09.2018. The AO received information from investigation wing as per which the assessee is Managing Partner of M/s Kasyap Home Needs and has purchased 4500 sq.yards of land at Anadapuram from Shri Nalla Madhusudhan Reddy

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. ANUMOLU TIRUPATI RAYUDU(HUF),, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

ITA 100/VIZ/2020[2014-15]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2014-15

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

For Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 143(3)Section 153A

56,34,856/- and added back to the total income of the assessee. 7 6. The Ld. AO also made disallowance U/s. 14A of the Act to the extent of Rs.19,27,456/- having not satisfied with the assessee’s explanation that though the assessee made investments in certain companies which was made in the earlier years and no dividend

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

ITA 103/VIZ/2020[2012-13]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2012-13

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

For Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 143(3)Section 153A

56,34,856/- and added back to the total income of the assessee. 7 6. The Ld. AO also made disallowance U/s. 14A of the Act to the extent of Rs.19,27,456/- having not satisfied with the assessee’s explanation that though the assessee made investments in certain companies which was made in the earlier years and no dividend

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

ITA 102/VIZ/2020[2011-12]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2011-12

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

For Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 143(3)Section 153A

56,34,856/- and added back to the total income of the assessee. 7 6. The Ld. AO also made disallowance U/s. 14A of the Act to the extent of Rs.19,27,456/- having not satisfied with the assessee’s explanation that though the assessee made investments in certain companies which was made in the earlier years and no dividend

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

house property, income from 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