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10 results for “penalty u/s 271”+ Unexplained Investmentclear

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Key Topics

Section 271(1)(c)35Section 14710Section 143(3)10Penalty10Section 1489Addition to Income8Section 697Unexplained Investment7Section 142(1)

POTLURI PHANENDRA BABU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

ITA 242/VIZ/2022[2012-13]Status: DisposedITAT Visakhapatnam10 Aug 2023AY 2012-13

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.241 & 242/Viz/2022 ("नधा"रण वष" / Assessment Year : 2007-08 & 2012-13) Potluri Phanendra Babu, Vs. The Income Tax Officer, Visakhapatnam. Ward-3(2), Pan: Agspp 7638 K Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Respondent By : Sri On Hari Prasada Rao, Sr. Ar सुनवाई क" तार"ख / Date Of Hearing : 15/06/2023 घोषणा क" तार"ख/Date Of : 10/08/2023 Pronouncement O R D E R

For Appellant: Sri GVN Hari, ARFor Respondent: Sri ON Hari Prasada Rao
Section 133ASection 143(3)Section 147Section 271(1)(c)

penalty of Rs. 4,45,924/- U/s. 271(1)(c) of the Act citing that the Ld. CIT(A) has sustained the addition of Rs. 13,24,790/- as unexplained investment

6
Section 143(2)6
Section 50C4
Limitation/Time-bar3

POTLURI PHANENDRA BABU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

ITA 241/VIZ/2022[2007-08]Status: DisposedITAT Visakhapatnam10 Aug 2023AY 2007-08

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.241 & 242/Viz/2022 ("नधा"रण वष" / Assessment Year : 2007-08 & 2012-13) Potluri Phanendra Babu, Vs. The Income Tax Officer, Visakhapatnam. Ward-3(2), Pan: Agspp 7638 K Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Respondent By : Sri On Hari Prasada Rao, Sr. Ar सुनवाई क" तार"ख / Date Of Hearing : 15/06/2023 घोषणा क" तार"ख/Date Of : 10/08/2023 Pronouncement O R D E R

For Appellant: Sri GVN Hari, ARFor Respondent: Sri ON Hari Prasada Rao
Section 133ASection 143(3)Section 147Section 271(1)(c)

penalty of Rs. 4,45,924/- U/s. 271(1)(c) of the Act citing that the Ld. CIT(A) has sustained the addition of Rs. 13,24,790/- as unexplained investment

MALLA APPALARAJU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-5(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

ITA 253/VIZ/2023[2011-12]Status: DisposedITAT Visakhapatnam28 May 2024AY 2011-12

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

For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 143(3)Section 27(1)(c)Section 271(1)(c)Section 274Section 69

unexplained investment U/s. 69, the Ld. CIT(A) has upheld the decision of the Ld.AO. Thereafter, the Ld. AO issued a show cause penalty notice U/s. 274 r.w.s 271

GINJALA ATCHIRAJU, L/R. OF GINJALA SIMHADRI RAJU, ,KAKINADA vs. INCOME-TAX OFFICER, WARD -1, , KAKINADA

In the result, appeal of the assessee is partly allowed

ITA 159/VIZ/2022[2015-16]Status: DisposedITAT Visakhapatnam15 Jun 2023AY 2015-16

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

For Appellant: Sri G.V.N. Hari, ARFor Respondent: Sri Sankar Pandi, Sr. AR
Section 133ASection 143(2)Section 148Section 271(1)(c)

penalty order U/s. 271(1)(c) of the Act was passed on 28/06/2019. 2. The facts of the case are that a survey operation U/s. 133A of the Act was carried out in the case of the assessee on 20/07/2017. During the course of the survey operations, it was noticed that Sri Ginjala Simhadri Raju along with his daughter sold

CHANDRASEKHAR YERNENA,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-4(1), VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed as indicated herein above

ITA 125/VIZ/2024[2016-17]Status: DisposedITAT Visakhapatnam10 Sept 2024AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./ I.T.A. No.125/Viz/2024 (िनधा"रण वष" / Assessment Year : 2016-17) Chandrasekhar Yernena, Vs. Income Tax Officer, 39-31-68, Gandhi Nagar, Ward-4(1), Marripalem, Visakhapatnam. Visakhapatnam-530018, Andhra Pradesh. Pan: Abqpy2029N (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri N.V. Ramana Murthy, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 11/06/2024 घोषणा क" तारीख/Date Of : 10/09/2024 Pronouncement O R D E R

For Appellant: Sri N.V. Ramana Murthy, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 142(1)Section 143(2)Section 143(3)Section 250Section 271(1)(c)Section 69

unexplained investment U/s. 69 of the Act. Further, the Ld. AO estimated the income of the assessee from liquor business ie., @ 5% on the total stock put to sale (Rs. 3,62,48,715/-) which worked out to Rs. 18,12,435/- and brought the same to tax. Accordingly, the Ld. AO completed the assessment U/s

SRINIVASA RAO BAMMIDI,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-2(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

ITA 330/VIZ/2024[2014-15]Status: DisposedITAT Visakhapatnam24 Oct 2024AY 2014-15

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.330/Viz/2024 (िनधा"रण वष" / Assessment Year: 2014-15) Srinivasa Rao Bammidi, Vs. Income Tax Officer, 53-27-3/2, Krm Colony, Ward-2(1), Seethammadhara, Visakhapatnam. Visakhapatnam-530013, Visakhapatnam District, Andhra Pradesh-530013. Pan:Akwpb1983F (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri C. Sanjeevarao, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 08/10/2024 घोषणा क" तारीख/Date Of : 24/10/2024 Pronouncement O R D E R

For Appellant: Sri C. Sanjeevarao, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 143(2)Section 143(3)Section 234ASection 271(1)(c)Section 274

unexplained investment. In response to the show cause notice, the assessee furnished the details of sources for investment in shares trading of futures, equities and speculations of shares amounting to Rs. 2,13,837/-. However, the assessee did not furnish any details with regard to the source of investment in 3 shares transactions amounting to Rs. 2,00,000/-. Therefore

SATYAVATHI GOLKONDA,MACHILIPATNAM vs. INCOME TAX OFFICER, WARD-1, MACHILIPATNAM

In the result, appeal filed by the assessee is allowed for statistical purposes as indicated hereinabove

ITA 219/VIZ/2024[2016-17]Status: DisposedITAT Visakhapatnam08 Aug 2024AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Ble(Through Hybrid Hearing) आयकर अपील सं./ I.T.A. No. 219/Viz/2024 (िनधा"रण वष" / Assessment Year : 2016-17) Satyavathi Golkonda, Vs. Income Tax Officer, Ward-1, Mig-102, Old Aphb Colony, Aayakar Bhavan, Paraspet, Machilipatnam, Krishna District, Machilipatnam, Andhra Pradesh – 521001. Andhra Pradesh-521001. Pan: Attpg1361J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri K. Siva Ram Kumar, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 07/08/2024 घोषणा क" तारीख/Date Of : 08/08/2024 Pronouncement O R D E R

For Appellant: Sri K. Siva Ram Kumar, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 133(6)Section 142(1)Section 144Section 144(1)(b)Section 147Section 148Section 271(1)(c)Section 69

unexplained investment U/s. 69 of the Act and added the same to the total income of the assessee. The Ld. AO further added a sum of Rs. 42,050/- disallowing the assessee’s claim of salary income since the assessee assessee has not filed the return of income for the AY 2016-17. Thus, the Ld. AO 4 completed

VASAMSETTY GANGADHARA RAO,RAJAHMUNDRY vs. INCOME TAX OFFICER, WARD-2(1), RAJAHMUNDRY

In the result, appeal filed by the assessee is allowed for statistical purposes as indicated hereinabove

ITA 325/VIZ/2024[2016-17]Status: DisposedITAT Visakhapatnam25 Sept 2024AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./ I.T.A. No.325/Viz/2024 (िनधा"रण वष" / Assessment Year : 2016-17) Vasamsetty Gangadhara Rao, Vs. The Income Tax Officer, Rajahmundry. Ward-2(1), Pan: Aevpa2543M Rajahmundry. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 23/09/2024 घोषणा क" तारीख/Date Of : 25/09/2024 Pronouncement O R D E R

For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 142(1)Section 143(2)Section 147Section 148Section 271(1)(c)Section 69

penalty proceedings U/s. 271(1)(c) of the Act. Thus, the Ld. AO determined the total income of the assessee at Rs. 19,24,300/- and passed the assessment order U/s. 147 r.w.s 144 r.w.s 144B of the Act, dated 12/03/2024. Aggrieved by the order of the Ld. AO, the assessee preferred an appeal before the Ld. CIT(A)-NFAC

SIMHADRI NAIDU SAMANTHULA,PALAKONDA vs. INCOME TAX OFFICER - WARD-1, SRIKAKULAM

In the result, appeal filed by the assessee is allowed for statistical purposes as indicated hereinabove

ITA 410/VIZ/2024[2015-16]Status: DisposedITAT Visakhapatnam05 Nov 2024AY 2015-16

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./ I.T.A. No.410/Viz/2024 (िनधा"रण वष" / Assessment Year : 2015-16) Simhadri Naidu Samanthula, Vs. Income Tax Officer, Palakonda. Ward-1, Pan: Amsps2903C Srikakulam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri I. Kama Sastry, Ar ""याथ" क" ओर से / Respondent By : Dr. Aparna Villuri, Sr. Ar सुनवाई क" तारीख / Date Of Hearing : 04/11/2024 घोषणा क" तारीख/Date Of : 05/11/2024 Pronouncement O R D E R

For Appellant: Sri I. Kama Sastry, ARFor Respondent: Dr. Aparna Villuri, Sr. AR
Section 142(1)Section 143(2)Section 147Section 148Section 148ASection 149(1)Section 149(1)(b)Section 271(1)(c)Section 69A

invested in fixed deposits amounting to Rs. 26,66,074/- in his deposit account during the FY 2014-15. In view of the above, Ld. AO issued a show cause notice and the assessee was asked as to why the income of Rs. 54,51,160/- [Rs. 23,59,000 plus Rs. 26,66,074 + Interest income

CHIGURUPATI RAJENDRA PRASAD,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-2(2), VIJAYAWADA

In the result, appeal of the assessee is allowed for statistical purpose

ITA 202/VIZ/2023[2012-13]Status: DisposedITAT Visakhapatnam22 Nov 2023AY 2012-13

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.202/Viz/2023 (ननधधारण वर्ा / Assessment Year : 2012-13) Chigurupati Rajendra Prasad Vs. Income Tax Officer Dr.No.32-41-47/28, Near Library Ward-2(2) Machavaram Vijayawada Vijayawada Pan : Abjpc1799A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri Madhukar Aves, DR
Section 139Section 142(1)Section 143(2)Section 143(3)Section 147Section 271(1)(c)Section 50C

invested Rs.31,10,000/- towards his share for total acquisition cost including stamp duty of Rs.6,22,00,000/-. The property was sold to avoid some legal problems and the assessee received 3 I.T.A. No.202/Viz/2023, A.Y.2012-13 Chigurupati Rajendra Prasad., Vijayawada Rs.30,00,000/-. Notice u/s 142(1) was issued to the as the assessee did not admit capital gains reckoning