VISAKHAPATNAM INDUSTRIAL WATER SUPPLY COMPANY LIMITED,VISAKHAPATNAM vs. DCIT, CIRCLE-5(1), VISAKHAPATNAM

In the result, the appeal by the assessee is allowed

Bench: Shri Sandeep Singh Karhail, Hon’Ble & Shri Omkareshwar Chidara, Hon’Bleआयकर अपील सं./I.T.A. No. 657/Viz/2025 (निर्धारण वर्ा/ Assessment Year:2012-13) Visakhapatnam Industrial Water V. Dy. Cit – Circle – 5(1) Supply Company Limited Visakhapatnam Gvmc Room No.204 Tenneti Bhavan, Asilmetta Junction Visakhapatnam – 530002 Andhra Pradesh [Pan: Aabcv2240H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

u/s 271(1)(c) has been initiated against the appellant for furnishing inaccurate particulars and for the concealment of particulars of income. Merely by not specifying the limbs under which section 271(1)(c) has been invoked by striking out any one of the phrase cannot be considered as the notice to be invalid. From the Assessment order

T.SATYANARAYANA,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bletalluri Satyanarayana, Vs. Acit, Circle-1(1), Prop. : Sairam Parlour, Visakhapatnam. D.No. 47-11-9, Diamond Park, Visakhapatnam. Pan No. Aaqpt 9170 N (Appellant) (Respondent)

34,930/-. The case of the assessee was selected for scrutiny and assessment was completed under (Talluri Satyanarayana) section 143(3) r.w.s. 153A of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') on 31/12/2009 by making certain additions. Subsequently, penalty notice u/sec. 274 r.w.s. 271(1)(c) of the Act, dated 31/12/2009 was issued and thereafter penalty

DY CIT, CIRCLE-2(1), VIJAYAWADA vs. GOLLA NARAYANA RAO,, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

DY CIT, CIRCLE-2(1), VIJAYAWADA vs. GOLLA NARAYANA RAO,, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

GOLLA NARAYANARAO,VIJAYAWADA vs. ACIT,, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

GOLLA NARAYANA RAO,VIJAYAWADA vs. ACIT, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

DCIT, CIRCLE2(1),, VIJAYAWADA vs. SRI GOLLA NARAYANA RAO,, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

DY CIT, CIRCLE-2(1), VIJAYAWADA. vs. GOLLA NARAYANA RAO,, VIJAYAWADA.

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

GOLLA NARAYANA RAO,,VIJAYAWADA vs. ACIT, CIRCLE-2(1),, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

GOLLA NARAYANARAO,VIJAYAWADA vs. AD CIT, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

DY CIT, CIRCLE-2(1), VIJAYAWADA vs. GOLLA NARAYANA RAO,, VIJAYAWADA

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.380/Viz/2017& I.T.A.No.487-489/Viz/2017 (धििाारण िर्ा/A.Ys: 2012-13, 2008-09,2009-10 & 2011-12 Respectively) Golla Narayana Rao Asst.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax, Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vs. Asst.Commissioner Of Vijayawada Income Tax, Range-2 [Pan : Ahqpg3076R] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.433/Viz/2017, 499/Viz/2017 -503/Viz/2017 (निर्धारण वर्ा/A.Ys : 2012-13, 2008-09, 2011-12, 2011-12, 2012-13 & 2014-15 Respectively) Deputy.Commissioner Of Vs. Golla Narayana Rao Income Tax Flat No.Ff-4, D.No.32-15/1-16 Circle-2(1) Vijaya Shraddha Towers Vijayawada Moghalrajpuram Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.80-85/Viz/2017 (Arising Out Of I.T.A Nos.433/Viz/2017,499-503/Viz/2017 Respectively)’ Golla Narayana Rao Deputy.Commissioner Of Flat No.Ff-4, D.No.32-15/1-16 Income Tax Vijaya Shraddha Towers Circle-2(1) Moghalrajpuram Vijayawada Vijayawada [Pan : Ahqpg3076R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩरती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar रधजस्व की ओर से/ Revenue By : Shri Ch.Sanjeev, Dr सुिवधई की तधरीख / Date Of Hearing : 06.09.2018 05.10.2018 घोर्णध की तधरीख/Date Of Pronouncement :

271 of the Act. 33. The Ld.CIT(A) allowed a sum of Rs.37,45,000/- towards sale of flats which were registered on 05.09.2012 and confirmed the penalty of Rs.31,03,000/- from Sri P Prabhakar Rao. The Ld.CIT(A) did not accept the claim of additional works of Gunadala flats in the absence of any evidence. Adjustment of amounts

MS USHA TUBUS & PIPES PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, the appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.48/Viz/2015 (धििाारण िर्ा/ Assessment Year: 2004-2005) M/S Usha Tubes & Pipes Pvt. Ltd. Vs. Asst.Commissioner Of D.No.11-8-34 Income Tax Daspalla Hills Cicle-5(1) Visakhapatnam Visakhapatnam [Pan : Aaacu4259N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 271(1)(c) is applicable and the onus is on the assessee to establish the transaction as bonafide transaction. In this case, the assessee did not establish the transaction as genuine. Therefore, argued that the Ld.CIT(A) has rightly confirmed the penalty and no interference is called for in the order of the Ld.CIT(A). 8. We have heard

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)

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 of this amount

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)

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 of this amount

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)

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 of this amount

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)

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 of this amount

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)

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 of this amount

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)

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 of this amount