DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD, GUNTUR

131", "Section 68", "Section 69C" ], "issues": "Whether the Ld. CIT(A) erred in estimating profit at 30% on unaccounted

DONKALA CHENCHU NARASIMHA RAO,NELLORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

131(1)", "115BBE" ], "issues": "Whether the addition made as on-money payment for property purchase under Section 69 is sustainable, and whether cash loans treated as unexplained cash credits under Section 68

SRI RAJANI GOLD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.No.162/Viz/2023 (निर्धारण वर्ा/ Assessment Year: 2017-18) Sri Rajani Gold V. Asst. Cit – Circle – 1(1) D.No. 11-49-336B Central Revenue Building Sivalayam Street, I Town Mg Road – 520001 Vijayawada – 520001 Vijayawada, Andhra Pradesh Andhra Pradesh [Pan: Aacfs6675E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

68 of the Act cannot be invoked by the Revenue Authorities, since the assessee has offered explanation regarding the sales made and disclosed the same in the VAT Returns of the assessee. We also find from the statements of the Managing Partners recorded under section 131

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. ALFA ELECTRONIC SERVICES(INDIA) PRIVATE LIMITED, VISAKHAPTNAM

In the result, appeal filed by the revenue is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos. 50, 51 & 53/Viz/2021 (निर्धारण वर्ा/ Assessment Years: 2013-14, 2014-15 & 2015-16) Acit – Circle – 1(1) V. M/S. Alfa Electronic Services (India) Prathyakshakar Bhavan, Sector – 8 Private Limited Mvp Double Road, 49-22-5, Sri Sai Mansions Visakhapatnam – 530017 Lalitha Nagar, Visakhapatnam – 530016 Andhra Pradesh Andhra Pradesh [Pan: Aahca3583E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 131 of the Act on 16.12.2015, agreed for the following disallowances: - a. M/s. BVL Micro systems : Rs.59,69,400/- b. M/s. Sai Industrial Minerals and Chemicals : Rs.47,00,604/- c. M/s. Techcel Electronics & Services : Rs. 48,72,600/- 4. Based on the statements recorded from the Managing Director during the survey operations, Assessing Officer made a disallowance amounting

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), , VISAKHAPATNAM vs. ALFA ELECTRONIC SERVICES(INDIA) PRIVATE LIMITED,, VISAKHAPATNAM

In the result, appeal filed by the revenue is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos. 50, 51 & 53/Viz/2021 (निर्धारण वर्ा/ Assessment Years: 2013-14, 2014-15 & 2015-16) Acit – Circle – 1(1) V. M/S. Alfa Electronic Services (India) Prathyakshakar Bhavan, Sector – 8 Private Limited Mvp Double Road, 49-22-5, Sri Sai Mansions Visakhapatnam – 530017 Lalitha Nagar, Visakhapatnam – 530016 Andhra Pradesh Andhra Pradesh [Pan: Aahca3583E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 131 of the Act on 16.12.2015, agreed for the following disallowances: - a. M/s. BVL Micro systems : Rs.59,69,400/- b. M/s. Sai Industrial Minerals and Chemicals : Rs.47,00,604/- c. M/s. Techcel Electronics & Services : Rs. 48,72,600/- 4. Based on the statements recorded from the Managing Director during the survey operations, Assessing Officer made a disallowance amounting

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. ALFA ELECTRONIC SERVICES(INDIA) PRIVATE LIMITED, VISAKHAPTNAM

In the result, appeal filed by the revenue is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos. 50, 51 & 53/Viz/2021 (निर्धारण वर्ा/ Assessment Years: 2013-14, 2014-15 & 2015-16) Acit – Circle – 1(1) V. M/S. Alfa Electronic Services (India) Prathyakshakar Bhavan, Sector – 8 Private Limited Mvp Double Road, 49-22-5, Sri Sai Mansions Visakhapatnam – 530017 Lalitha Nagar, Visakhapatnam – 530016 Andhra Pradesh Andhra Pradesh [Pan: Aahca3583E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 131 of the Act on 16.12.2015, agreed for the following disallowances: - a. M/s. BVL Micro systems : Rs.59,69,400/- b. M/s. Sai Industrial Minerals and Chemicals : Rs.47,00,604/- c. M/s. Techcel Electronics & Services : Rs. 48,72,600/- 4. Based on the statements recorded from the Managing Director during the survey operations, Assessing Officer made a disallowance amounting

LINTON PROJECTS PRIVATE LIMITED,VIZIANAGARAM vs. THE INCOME TAX OFFICER, WARD-1, , VIZIANAGARAM

In the result, appeal of the revenue is dismissed in limine and Cross objection filed is assessee is dismissed as infructuous

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

68 of the Act. On this issue, Ld. AR submitted that during the impugned assessment year 34 shareholders have invested in the assessee company by acquiring the equity shares on the face value of Rs 10/- each for a premium of Rs.45/- per share. Ld. AR further submitted that, out of 34 Page No. 5 I.T.A. No. 227/VIZ/2020 I.T.A

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. POOSARLA SATYAVATHI, VIZIANAGARAM

In the result, appeal of the revenue is dismissed in limine and Cross objection filed is assessee is dismissed as infructuous

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

68 of the Act. On this issue, Ld. AR submitted that during the impugned assessment year 34 shareholders have invested in the assessee company by acquiring the equity shares on the face value of Rs 10/- each for a premium of Rs.45/- per share. Ld. AR further submitted that, out of 34 Page No. 5 I.T.A. No. 227/VIZ/2020 I.T.A

DEPUTY COMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM vs. BLACKBURN FUELS PRIVATE LIMITED, VIZIANAGARAM

In the result, the appeal filed by the Revenue is allowed for statistical purposes, in terms of our aforesaid observations

Bench: Us:

Section 68 of the Act in the hands of the assessee company. 12. Aggrieved, the assessee company carried the matter in appeal before the CIT(A). The CIT(A), after deliberating on the contentions advanced by the assessee company, found favour with the same and vacated the addition of Rs. 4.45 crores (supra), observing as under: 15 Blackburn Fuels

SANDHI RAJA SEKHAR ,BHIMAVARAM vs. INCOME TAX OFFICER, WARD-1, BHIMAVARAM

In the result, appeal filed by the assessee is allowed

Bench: Shrik Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./ I.T.A. 296/Viz/2024 (ननधधारणवर्ा/ Assessment Year : 2013-14) Sandhi Raja Sekhar, Vs. Income Tax Officer, Bhimavaram. Ward-1, Pan: Axrps2387J Bhimavaram. (अपीलधथी/ Appellant) (प्रत्यथी/ Respondent) अपीलधथी की ओर से/ Assessee By : Sri Gvn Hari, Ar प्रत्यधथी की ओर से/ Revenue By : Dr. Aparna Villuri, Sr. Ar

131 of the Act were issued on 06/06/2017 requiring the assessee to appear on 13/06/2017. In response, the assessee’s Representative appeared and sought time for furnishing the return of income which was allowed upto 20/06/2017. On 20/06/2017 the assessee’s Representative has furnished a letter along with the return of income filed electronically

DCIT, CIRCLE 3(1), VISAKHAPATNAM vs. VIKAS KUMAR CHHAJER, VIZIANAGARAM

Bench: Us:

68 of the Act. 9. Ostensibly, the CIT(A) had vacated the impugned addition for more than one reason, viz., (i). that the statements of the third parties, viz. M/s. Jain LLP, Delhi, and M/s. JM Jain LLP, Delhi (along with the scanned copies of the excel sheets), which had formed the basis for making the impugned addition

THE ACIT,CIRCLE - 1,, RAJAHMUNDRY vs. M/STHE ARYAPURAM CO-OPRATIVE URBAN BANK LTD.,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

section 68 of the Act. The ld. CIT(A) after considering the explanation of the assessee, directed the Assessing Officer to verify the complete details of fresh deposits received during the year and submit the factual report. The Assessing Officer after verifying the details, submitted a report to the ld. CIT(A), which is as follows:- “3. The assessee

THE ARYAPURAM CO-OPERATIVE URBAN BANK LTD.,RAJAHMUNDRY vs. THE ACIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

section 68 of the Act. The ld. CIT(A) after considering the explanation of the assessee, directed the Assessing Officer to verify the complete details of fresh deposits received during the year and submit the factual report. The Assessing Officer after verifying the details, submitted a report to the ld. CIT(A), which is as follows:- “3. The assessee

ARYAPURAM CO=OP. URBANK LTD.,,RAJAHMUNDRY vs. THE ACIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

section 68 of the Act. The ld. CIT(A) after considering the explanation of the assessee, directed the Assessing Officer to verify the complete details of fresh deposits received during the year and submit the factual report. The Assessing Officer after verifying the details, submitted a report to the ld. CIT(A), which is as follows:- “3. The assessee

THE ARYAPURAM CO-OPERATIVE URBAN BANK LTD.,,RAJAHMUNDRY vs. THE ACIT, CIRCLE - 1, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

section 68 of the Act. The ld. CIT(A) after considering the explanation of the assessee, directed the Assessing Officer to verify the complete details of fresh deposits received during the year and submit the factual report. The Assessing Officer after verifying the details, submitted a report to the ld. CIT(A), which is as follows:- “3. The assessee

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR vs. VENKATRAMA POULTRIES PVT LTD, GUNTUR

131 during the course Of assessment proceedings from the\nemployees of the assessee company who are connected to purchase of raw\nmaterial and its data entry, namely Sri Sri G Akkaiah. Sri T Suresh. Sri G\nBrahmaiah. Sri Y Subba Rao, Sri E Gangaiah, Sri K Masthan Rao and Sri\nNagaraju. which are made part of the assessment order

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

131 issued during the course of assessment proceedings. 3. The Ld. CIT(A) erred in deleting the additions of Rs.1,00,00,000/- ignoring the fact that during the course of search operation, a statement on oath of Sri. Rajesh G. Mehta was recorded wherein he admitted that he was only providing bogus sales and purchase bill to Vedumutha Electricals

THE INCOME TAX OFFICER, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

131 issued during the course of assessment proceedings. 3. The Ld. CIT(A) erred in deleting the additions of Rs.1,00,00,000/- ignoring the fact that during the course of search operation, a statement on oath of Sri. Rajesh G. Mehta was recorded wherein he admitted that he was only providing bogus sales and purchase bill to Vedumutha Electricals