AKUNURI SAI AVINASH,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE (INTERNATIONAL TAXATION), VISAKHAPATNAM
In the result, appeal of the assessee is partly allowed for statistical purposes as indicated herein above
ITA 42/VIZ/2023[2016-17]Status: DisposedITAT Visakhapatnam12 Apr 2024AY 2016-17
Bench: Shri Duvvuru Rl Reddy, Hon‟Ble & Shri S Balakrishnan, Hon‟Bleआयकरअपीलसं./ I.T.A. No.42/Viz/2023 (धनधाारणिर्ा/ Assessment Year : 2016-17) Akunuri Sai Avinash, Vs. The Asst. Commissioner Of Rep. By Gpa Holder Dr. Akunuri Income Tax, Sai Babu, Circle (International Taxation), Visakhapatnam. Visakhapatnam. Pan: (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent) अपीलाथीकीओरसे/ Assessee By : Sri Gvn Hari, Ar प्रत्याथीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुनिाईकीतारीख/ Date Of Hearing : 26/03/2024 घोर्णाकीतारीख/Date Of : 12/04/2024 Pronouncement O R D E R Per S. Balakrishnan:
For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 144CSection 147Section 148Section 50C
reassessment proceedings as void ab initio.
3. The Hon’ble Dispute Resolution Panel is not justified in holding that the capital gains are applicable for the subject assessment year 2016-17 in respect of the sale transaction concluded in the FY 2014-15 relevant for AY
2015-16. 4. The Hon’ble Dispute Resolution Panel is not justified in directing