GIRIJA DEVI KOMMAREDDY,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1). , VISAKHAPATNAM

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.188/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2014-15) Girija Devi Kommareddy Vs. Asst.Commissioner Of D.No.9-29-24/B, Cbm Compound Income Tax Balaji Nagar, Siripuram Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Adfpk3441H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

68 r.w.s. 158BBE of the Income Tax Act and hence the appellant prays relief. 3. Ground No.1 is general in nature which does not require specific adjudication. 4. Ground No.3 is related to long term capital gains. Brief facts of the case are that the assessee is an individual, filed her return of income for the A.Y.2014-15, admitting total income

SANTOSH AGRAWAL,CHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRLCE-1, VISAKHAPATNAM

long term capital gain amount to\nRs.8,51,91,388/- claimed by the assessee under section 10(38) of the Act.\nFurther, Ld. CIT(A) after considering the submissions made by the assessee\nobserved that the addition under section 68

ASHOK KUMAR AGRAWAL,VISAKHAPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

long term capital gain amount to\nRs.8,51,91,388/- claimed by the assessee under section 10(38) of the Act.\nFurther, Ld. CIT(A) after considering the submissions made by the assessee\nobserved that the addition under section 68

BODDAPALLI HEMA SUNDARA RAO,GUNTUR vs. INCOME TAX OFFICER, WARD-3(1), VIJAYAWADA

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

capital gains computation to the AO. However, the assessee presented additional evidence (bank statements and documents) before the Tribunal. Following the principles of natural justice, the Tribunal decided to remit the matter back to the AO for fresh adjudication.", "result": "Allowed", "sections": [ "143(3)", "68" ], "issues": "Whether the additions made by the AO on account of Long Term

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. MATTAPALLI RAMGOPAL, VISAKHAPATNAM

In the result, appeals of the revenue are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.65/Viz/2021 & 66/Viz/2021 (निर्धारण वर्ा / Assessment Year : 2014-15 & 2015-16) Asst.Commissioner Of Income Tax Vs. Mattapalli Ramgopal Circle-1(1) 25-8-246, Main Road Visakhapatnam Kurupam Market Visakhapatnam [Pan : Aarpw2133K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

68 of the Act and Rs.4,30,143/- towards interest on housing loan. 3. On being aggrieved, the assessee preferred an appeal before the CIT(A) and the Ld.CIT(A) allowed the appeal of the assessee. 4. On being aggrieved, the revenue preferred an appeal before the Tribunal and raised the following grounds : 1. The order of the Ld.CIT

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

In the result, appeals of the revenue are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.65/Viz/2021 & 66/Viz/2021 (निर्धारण वर्ा / Assessment Year : 2014-15 & 2015-16) Asst.Commissioner Of Income Tax Vs. Mattapalli Ramgopal Circle-1(1) 25-8-246, Main Road Visakhapatnam Kurupam Market Visakhapatnam [Pan : Aarpw2133K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

68 of the Act and Rs.4,30,143/- towards interest on housing loan. 3. On being aggrieved, the assessee preferred an appeal before the CIT(A) and the Ld.CIT(A) allowed the appeal of the assessee. 4. On being aggrieved, the revenue preferred an appeal before the Tribunal and raised the following grounds : 1. The order of the Ld.CIT

INCOME TAX OFFICER, WARD-2(5), VISAKHAPATNAM vs. DUVVURU REKHA REDDY, KURMANNAPALEM

In the result, the cross objection filed by the assessee is allowed

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.450/Viz/2024 (निर्धारण वर्ा/ Assessment Year:2017-18) Vs. Income Tax Officer –Ward– 2(5) Duvvuru Rekha Reddy 2Nd Floor, Infinity Towers Flat No. 402, Vizag Profile Towers Sankaramatam Road Kurmannapalem Visakhapatnam - 530016 Visakhapatnam -530046 Andhra Pradesh [Pan:Afdpr3780C] सी.ओ सं. / C.O. No. 17/Viz/2024 [आयकरअपीलसं.से उत्पन्न/I.T.A.No.450/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2017-18)] Vs. Income Tax Officer –Ward– 2(5) Duvvuru Rekha Reddy 2Nd Floor, Infinity Towers Flat No. 402, Vizag Profile Towers Sankaramatam Road Kurmannapalem Visakhapatnam - 530016 Visakhapatnam - 530046 Andhra Pradesh [Pan:Afdpr3780C]

Long-term Capital Gain of Rs.1,94,13,599/- which is disclosed in the return of income filed in response to notice under section 148 of the Act. In support of the above submissions, assessee filed relevant evidence in support Page. No 3 I.T.A.No.450/VIZ/2024 C.O. No. 17/VIZ/2024 Duvvuru Rekha Reddy of the funds mobilised for investment in the Company

KAKRLA SURYA GANGADHAR TILAK,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-3(3), , VISAKHAPATNAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.177/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Smt.Kakarla Guna Vidya Saraswathi Vs. Income Tax Officer C/O Kakrla Surya Gangadhar Tilak Ward-3(3) A-1, Janani Apartments Visakhapatnam Pandurangaswamy Temple Backside Pandurangapuram Visakhapatnam [Pan : Apjpk5999N] आयकर अपील सं./I.T.A.No.178/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Sri Kakarla Surya Gangadhar Tilak Vs. Income Tax Officer A-1, Janani Apartments Ward-1(2) Pandurangaswamy Temple Backside Visakhapatnam Pandurangapuram Visakhapatnam [Pan : Ahbpk5319G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri I.Kama Sastry, Ar प्रत्यधथी की ओर से / Respondent By : Shri O.N.Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 27.02.2023 घोर्णध की तधरीख/Date Of Pronouncement : 31.05.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: These Appeals Are Filed By The Assessee Against The Orders Of Commissioner Of Income Tax (Appeals) [Cit(A)]-1 Visakhapatnam

68,500/-. The immovable property was purchased by the co-owners for a consideration of Rs.24,00,000/- plus stamp duty and registration charges of Rs.5,14,795/- and registered vide document No.2910 of 2005 dated 24.06.2005. A notice u/s 148 of the Income Tax Act, 1961 (in short “Act”) dated 13.03.2014 was issued by the Assessing Officer

KAKARLA GUNA VIDYA SARASWATHI,,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-1(2), , VISAKHAPATNAM

In the result, appeals filed by the assessee are allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.177/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Smt.Kakarla Guna Vidya Saraswathi Vs. Income Tax Officer C/O Kakrla Surya Gangadhar Tilak Ward-3(3) A-1, Janani Apartments Visakhapatnam Pandurangaswamy Temple Backside Pandurangapuram Visakhapatnam [Pan : Apjpk5999N] आयकर अपील सं./I.T.A.No.178/Viz/2020 (ननधधारण वर्ा / Assessment Year : 2007-08) Sri Kakarla Surya Gangadhar Tilak Vs. Income Tax Officer A-1, Janani Apartments Ward-1(2) Pandurangaswamy Temple Backside Visakhapatnam Pandurangapuram Visakhapatnam [Pan : Ahbpk5319G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri I.Kama Sastry, Ar प्रत्यधथी की ओर से / Respondent By : Shri O.N.Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 27.02.2023 घोर्णध की तधरीख/Date Of Pronouncement : 31.05.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: These Appeals Are Filed By The Assessee Against The Orders Of Commissioner Of Income Tax (Appeals) [Cit(A)]-1 Visakhapatnam

68,500/-. The immovable property was purchased by the co-owners for a consideration of Rs.24,00,000/- plus stamp duty and registration charges of Rs.5,14,795/- and registered vide document No.2910 of 2005 dated 24.06.2005. A notice u/s 148 of the Income Tax Act, 1961 (in short “Act”) dated 13.03.2014 was issued by the Assessing Officer

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)

long term capital gains of Rs.15,27,00,000/- declared by the assessee u/s 132(4). The AO completed the assessment u/s 143(3) r.w.s. 153C of the Act accepting the income returned and initiated the penalty proceedings u/s 271AAB of the Act and accordingly issued show cause notice calling for explanation of the assessee as to why the penalty

CHINTAPALLI SUBHAKARA RAO(HUF) ,VIJAYAWADA vs. ACIT, CIRCLE-(2)1, VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.554/Viz/2017 (धििाारण िर्ा/ Assessment Year :2008-09) Dr.Chintapalli Subhakara Rao (Huf) Vs. Asst. Commissioner Of Represented By Smt. C.Leela (Kartha) Income Tax D.No.29-10-1, Narasimhanaidu Street Circle-2(1) Suryaraopet Vijayawada Vijayawada [Pan : Aadhc1772N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यर्थी की ओर से / Respondent By : Smt. Suman Malik, Dr

long term capital gain from the impugned sale transaction in his HUF capacity even though he derived taxable LTCG from the said transaction even after claiming deductions u/s. 54F of the Act 4) The appellant HUF has filed its return of income only consequent to a survey operation by the department, which is evident from nonpayment of any advance

THE SRI GOWRI COOPERATIVE SOCIETY,VISAKHAPATNAM vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1,, VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Sri Gowri Vs. Pr.Cit-1, Co-Operative Society, Visakhapatnam. D.No.49-34-32/1, Konathala Complex, Akkayyapalem Main Road, Visakhapatnam. Pan No. Aaaat 8140 M (Appellant) (Respondent)

68 (Delhi), that the word "Banking" appearing in section 80P(2)(a)(i) cannot be given an extended and broad meaning and that to do so would be contrary to the ratio laid down in Totgars Co-operative Society. 24. In CIT v. Punjab State Co-operative Agricultural Development Bank Ltd. [2016] 389 ITR 607/76 taxmann.com 307 (Punj

KAVULURU LAKSHMI NARAYANA,VIJAYAWADA vs. THE INCOME TAX OFFICER, WARD-2(2), , VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.464/Viz/2019 (निर्धारण वर्ा/Assessment Year: 2014-15) Sri K.Lakshmi Narayana Vs. Income Tax Officer D.No.40-7-10A, Donka Road Ward-2(2) Mogalrajpuram Vijayawada Vijayawada [Pan : Aajhk5298R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri C.Subrahmanyam, Ar प्रत्यधथी की ओर से / Respondent By : Smt.Suman Malik, Dr सुिवधई की तधरीख / Date Of Hearing : 10.03.2021 घोर्णध की तधरीख/Date Of Pronouncement : 26 .03.2021 आदेश /O R D E R Per D.S.Sunder Singh: Condonation Of Delay : This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)]-2, Guntur In Ita No.372/Gnt/Cit(A)-2/2016-17 Dated19.03.2019 For The Assessment Year (A.Y.)2014-15 With The Delay Of 36 Days. The Assessee Has Filed Petition For Condonation Of Delay Stating That The Delay Was Due To The Sickness Of 2

section 68 of the IT Act while making the addition pertaining to alleged unexplained cash deposits in bank account in as much as sec.68 has limited scope and applies to cases relating to unexplained cash-credits recorded in the books of accounts. 3. Ground No.5 and 6 are general in nature which do not require specific adjudication. 4. Ground No.1

SRI UMA KAMANDALESWARA CO - OPERATIVE RURAL BANK LTD.,ATHREYAPURAM vs. THE ADDL. CIT,, KAKINADA

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Blesri Uma Kamandaleswara Vs. Addl.Cit, Kakinada Co-Op Rural Bank Ltd., Ryali, Range, Kakinada. Athreyapuram Mandalm, East Godavari District. Pan No. Aadas 4663 B (Appellant) (Respondent)

68 (Delhi), that the word "Banking" appearing in section 80P(2)(a)(i) cannot be given an extended and broad meaning and that to do so would be contrary to the ratio laid down in Totgars Co-operative Society. 24. In CIT v. Punjab State Co-operative Agricultural Development Bank Ltd. [2016] 389 ITR 607/76 taxmann.com 307 (Punj

GVK POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, RAJAHMUNDRY

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकरअपीलसं./I.T.A.No.553/Viz/2018 (ननधधारण वर्ा/Assessment Year:2014-15) M/S Gvk Power & Infrastructure Ltd. Vs. Asst.Commissioner Of D.No.5-48, Gvk Power Plant Income Tax Jegurupadu, Kadiyammandal Circle-2(1) East Godavari Rajamahendravaram [Pan :Aaacj5599A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओ रसे/ Appellant By Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By Shri D.K.Sonowal, Cit Dr सुनवधई की तधरीख / Date Of Hearing : 21.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03.04.2019

long 16 I.T.A. No.553/Viz/2018 M/s GVK Power & Infrastructure Ltd., Kadiyam gestation period. In the initial stage of projects, the company may operate in loss and the same is the case with the energy and power sector as well as airport business. In some projects, subsidiaries which have undertaken the projects did not yield any income due to termination

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)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

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)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

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)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant