GHANTA PUNNA RAO,GUNTUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), , GUNTUR
In the result, the appeal and cross objection filed by the assessee are allowed and the appeal of the Revenue is dismissed
ITA 179/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam23 Nov 2020AY 2011-12
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.179/Viz/2019 (निर्धारण वर्ा/Assessment Year:2011-2012) Ghanta Punna Rao Vs. Asst.Commissioner Of 3Rd Floor, Varandas Apartments Income Tax 1/3, Navabharat Nagar Circle-2(1) Guntur Guntur [Pan : Adupg3613J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.354/Viz/2019 (निर्धारण वर्ा/Assessment Year:2011-2012) Asst.Commissioner Of Vs. Ghanta Punna Rao Income Tax 3Rd Floor, Varandas Apartments Circle-2(1) 1/3, Navabharat Nagar Guntur Guntur [Pan : Adupg3613J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.124/Viz/2019 (Arising Out Of I.T.A. No.354/Viz/2019) (निर्धारण वर्ा/Assessment Year:2011-2012) Ghanta Punna Rao Vs. Asst.Commissioner Of 3Rd Floor, Varandas Apartments Income Tax 1/3, Navabharat Nagar Circle-2(1) Guntur Guntur [Pan : Adupg3613J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT, DR
Section 143(3)Section 148Section 68
reassessment proceedings, the AO found that the
assessee has made cash deposits in Andhra Bank, Brundavan Gardens
Branch, Guntur, during the period 01.10.2010 to 24.12.2010. It was further
found that the assessee has shown the receipts from sale of agricultural
land over and above the registered value of sale deeds and explained
before the AO that his son, Shri G.Kalyan
