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 2021AY 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
