OMCON REIGN FOREST PROJECTS,,VISAKHAPATNAM vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1,, VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.80-82 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2012-13 To 2014-15 Respectively) M/S Omcon Reign Forest Projects Vs. Principal Commissioner Of S.No.180, Opp.Toyoto Income Tax-1 Show Room Visakhapatnam Paradesi Palem Village Madhurawada Visakhapatnam [Pan :Aacfo5604J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri C.Subrahmanyam, Ar प्रत्यार्थी की ओर से/ Respondent By : Shri D.K.Sonowal, Cit Dr

section 271 w.e.f. 01.06.2002, the provision u/s 263 and rejected the rejected the objections of the Ld.AR challenging the jurisdiction of the Ld.Pr.CIT for giving directions to initiate the penalty u/s 271(1)(c) of the Act. The issue with regard to initiation of penalty proceedings by the Ld.Pr.CIT and directions of the Ld.Pr.CIT to AO to initiate the penalty

OMCON REIGN FOREST PROJECTS, ,VISAKHAPATNAM vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1,, VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.80-82 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2012-13 To 2014-15 Respectively) M/S Omcon Reign Forest Projects Vs. Principal Commissioner Of S.No.180, Opp.Toyoto Income Tax-1 Show Room Visakhapatnam Paradesi Palem Village Madhurawada Visakhapatnam [Pan :Aacfo5604J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri C.Subrahmanyam, Ar प्रत्यार्थी की ओर से/ Respondent By : Shri D.K.Sonowal, Cit Dr

section 271 w.e.f. 01.06.2002, the provision u/s 263 and rejected the rejected the objections of the Ld.AR challenging the jurisdiction of the Ld.Pr.CIT for giving directions to initiate the penalty u/s 271(1)(c) of the Act. The issue with regard to initiation of penalty proceedings by the Ld.Pr.CIT and directions of the Ld.Pr.CIT to AO to initiate the penalty

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY, , VISAKHAPTNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ADDL. CIT.,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VISAKHAPATNAM PORT AUTHORITY, ,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

THE VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASST. CIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

penalty proceedings U/s. 271(1)© of the Act in respect of this amount. 8. The Ld. CIT ought to have appreciated that the above sum of Rs. 4,21,233/- pertains financial year 2008-09 in respect of which the appellant did not claim any exemption and such the provisions of section 14A are not at all applicable in respect

VENKATA RAMA SATYANARAYANA VARMA VEGESNA,VISAKHAPATNAM vs. DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM

In the result, 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.165/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2011-12) Venkata Rama Satyanarayana Varma Vs. National E-Assesment Centre, Vegesna Delhi 10-50-2, Lazarus Bangalow (Dcit/Acit Waltair Main Road Circle-3(1) Visakhapatnam Visakhapatnam) [Pan : Aagts9608E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shrin C.M.Ravi Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 24.04.2023 घोर्णध की तधरीख/Date Of Pronouncement 14.07.2023 : आदेश /O R D E R Per Shri Duvvuru Rl Reddy: This Appeal Is Filed By The Assessee Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No. Itba/Nfac/S/250/2022- 23/1043814974(1) Dated 12.07.2022, Arising Out Of The Assessment Order Passed By The Assessing Officer (Ao) U/S 271(1)(C) Of The Income Tax Act, 1961 (In Short “Act”) Dated 14.02.2022 For The Assessment Year (A.Y.) 2011-12. 2

143(3) r.w.s. 147 of the Act was completed by the AO on 28.12.2018, determining the total income of Rs.66,81,067/-, wherein, an addition of Rs.50,96,573/- was made on account of deemed dividend u/s 2(22)(e). The AO also initiated penalty proceedings u/s 271(1)(c) for furnishing inaccurate particulars of income. Against the said order

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, GUNTUR vs. SILEMANKHAN & MAHABOOBKHAN, GUNTUR

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.571/Viz/2019 (निर्धारण वर्ा/Assessment Year:2016-2017) Asst.Commissioner Of Vs. M/S Silemankhan & Mahaboobkhan Income Tax D.No.15-11-16 Central Circle-2 Mangalagiri Road Guntur Guntur [Pan : Aaifs2791N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.149/Viz/2019 (Arising Out Of I.T.A. No.571/Viz/2019) (निर्धारणवर्ा/Assessment Year:2016-2017) M/S Silemankhan & Vs. Deputy.Commissioner Of Mahaboobkhan Income Tax D.No.15-11-16 Central Circle-2 Mangalagiri Road Guntur Guntur [Pan : Aaifs2791N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1). (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation.--For the purposes of this section,-- (a) "specified date" means the due date of furnishing

SATYA VENKATA KRISHNA RAVI PRASAD KODURI,RAJAHMUNDRY vs. ACIT, CIRCLE - 1, RAJAHMUNDRY

143(1)\nc.\nwhere no return was filed at all\nby assessees; (refer 270A(3)(b))\nNot Applicable since assessee filed his\nreturn u/s 153C\nd.\nwhere return was filed for the\nfirst time in response to notice\nus. 148 of the IT Act. (refer\n270A (3)(b))\nNot Applicable since assessee's case is\nnot a case of notice

MOTHUKURI SOMABRAHMAM,,VISAKHAPATNAM vs. THE DEPUTY. CIT,, VISAKHAPATNAM

In the result, the appeal filed by the revenue is dismissed and the

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

143(3) of the Act on total income of ` 1,67,59,177/- for the year under consideration. The A.O. initiated penalty u/s 271(1)(c)/271AAB of the Act. The assessee admitted additional income for the assessment year 2013-14 with the following breakup: Sl. Description Amount No. Cheques deposited into the bank account

THE ASST. COMMISSIONER OF INCOME TAX., VISAKHAPATNAM vs. SRI M. SOMABRAHMAM,, VISAKHAPATNAM

In the result, the appeal filed by the revenue is dismissed and the

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

143(3) of the Act on total income of ` 1,67,59,177/- for the year under consideration. The A.O. initiated penalty u/s 271(1)(c)/271AAB of the Act. The assessee admitted additional income for the assessment year 2013-14 with the following breakup: Sl. Description Amount No. Cheques deposited into the bank account

DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM vs. VENKATA SITA RAMACHANDRA RAO KANCHUMARTHY, RAJAHMUNDRY

In the result, appeal of the revenue is dismissed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.352/Viz/2025 (निर्धारण वर्ा/ Assessment Year:2016-17) Vs. Dy. Commissioner Of Income Tax Venkata Sita Ramachandra Rao Kanchumarty International Taxation, Circle H.No. 26-22-16 Ground Floor, Infinity Tower Near Chinna Anjaneya Swamy Temple Sankarmattam Road Danavaipeta, Rajahmundry Visakhapatnam – 530016 East Godavari District – 533103 Andhra Pradesh Andhra Pradesh [Pan:Edzpk3519Q]

143(2) and 142(1) of the Act assessee’s representatives filed requisite information called for. Ld.Assessing Officer [hereinafter in short “Ld. AO"] during the course of scrutiny proceedings recomputed the Long-Term Capital Gains at Rs.9,77,03,500/-. Being aggrieved by the order of the Ld. AO, assessee filed an appeal before Ld.CIT(A), Hyderabad, wherein he partly