ACE URBAN DEVELOPERS PRIVATE LIMITED,HYDERABAD vs. AO, VIJAYAWADA

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.Nos.79, 118 & 284/Viz/2024 (निर्धारणवर्ा/ Assessment Year: 2016-17, 2018-19 & 2016-17) Ace Urban Developers Private Limited V. The Asst. Cit- Circle-2(1) Module No. A1, A2,A3 Vijayawada – 520002 Quadrant No. 4, 4Thfloor Andhra Pradesh Cyber Tower, Hitech City Madhapur B.O. Sheikpet, Hyderabad-500081, Telangana [Pan: Aanca4001H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri Sk Gupta,Ar राजस्व का प्रतततितित्व / Department Represented By : Dr. Satyasai Rath, Sr.Ar

68 of the Act. Page No. 2 I.T.A.Nos.79, 118 & 284/VIZ/2024 ACE URBAN DEVELOPERS PRIVATE LIMITED 4. Thereafter, Pr. CIT, Vijayawada exercising his powers under section 263

ACE URBAN DEVELOPERS PRIVATE LIMITED,HYDERABAD vs. AO, NFAC

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.Nos.79, 118 & 284/Viz/2024 (निर्धारणवर्ा/ Assessment Year: 2016-17, 2018-19 & 2016-17) Ace Urban Developers Private Limited V. The Asst. Cit- Circle-2(1) Module No. A1, A2,A3 Vijayawada – 520002 Quadrant No. 4, 4Thfloor Andhra Pradesh Cyber Tower, Hitech City Madhapur B.O. Sheikpet, Hyderabad-500081, Telangana [Pan: Aanca4001H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri Sk Gupta,Ar राजस्व का प्रतततितित्व / Department Represented By : Dr. Satyasai Rath, Sr.Ar

68 of the Act. Page No. 2 I.T.A.Nos.79, 118 & 284/VIZ/2024 ACE URBAN DEVELOPERS PRIVATE LIMITED 4. Thereafter, Pr. CIT, Vijayawada exercising his powers under section 263

ACE URBAN DEVELOPERS PRIVATE LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), VIJAYAWADA

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.Nos.79, 118 & 284/Viz/2024 (निर्धारणवर्ा/ Assessment Year: 2016-17, 2018-19 & 2016-17) Ace Urban Developers Private Limited V. The Asst. Cit- Circle-2(1) Module No. A1, A2,A3 Vijayawada – 520002 Quadrant No. 4, 4Thfloor Andhra Pradesh Cyber Tower, Hitech City Madhapur B.O. Sheikpet, Hyderabad-500081, Telangana [Pan: Aanca4001H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri Sk Gupta,Ar राजस्व का प्रतततितित्व / Department Represented By : Dr. Satyasai Rath, Sr.Ar

68 of the Act. Page No. 2 I.T.A.Nos.79, 118 & 284/VIZ/2024 ACE URBAN DEVELOPERS PRIVATE LIMITED 4. Thereafter, Pr. CIT, Vijayawada exercising his powers under section 263

KANCHAN LALWANI,VIZIANAGARAM vs. PRINCIPAL COMMISSIONER OF INCOME TAX - 1, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A. No.265/Viz/2025 (निर्धारण वर्ा/ Assessment Year: 2021-22) Kanchan Lalwani V. Pr.Cit -1 22-1-22, Phho Baugh Road Aayakar Bhavan, Daba Gardens Ambati Satram Junction Visakhapatnam – 530020 Khadarnagar, Vizianagaram – 535002 Andhra Pradesh Andhra Pradesh [Pan: Abepl4375Q] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

68 of the Act towards unexplained cash credit and Rs.45,40,750/- towards disallowance under section 56(2)(x) of the Act. 3. Subsequently, by exercising the power conferred under section 263

THE INCOME TAX OFFICER, WARD-1, , TUNI vs. MK AQUA HATCHERY, THONDANGI(M)

In the result, appeal of the revenue is dismissed

Bench: Shri N.K.Choudhry & Shri D.S. Sunder Singhआयकरअपीलसं./I.T.A.No.436/Viz/2019 (ननधधारण वर्ा/ Assessment Year:2015-16) Income Tax Officer Vs. M/S M.K.Aqua Hatchery Ward-1 D.No.3-36, Chintakayalapeta Tuni Thondangi (M) E.G.Dist. [Pan :Aazfm0955H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Smt.Suman Malik, Dr प्रत्यधथी की ओर से/ Respondent By : Shri G.V.N.Hari, Ar सुनवधई की तधरीख/ Date Of Hearing : 22.12.2020 घोर्णध की तधरीख/Date Of Pronouncement : 23.12.2020 आदेश /O R D E R Per Shri D.S.Sunder Singh: This Appeal Is Filed By The Revenue Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)], Rajamahendravaram In Itano.10128/2017-18/Ito,W-1,Tuni/Vsp/2018-19 Dated 21.03.2019 For The Assessment Year(A.Y.)2015-16 With The Delay Of 17 Days. The Assessing Officer Filed The Condonation Petition Giving Administrative Reasons For Delay. The Ld.Ar Expressed No Objection For Condoning The Delay. Therefore, The Delay Is Condoned & The Appeal Is Admitted.

section 68 of the Act. It is evident that the respondent explained the amount of Rs 76,57,263

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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

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

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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

THE VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASST. 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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

VISAKHAPATNAM PORT AUTHORITY, ,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, 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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, 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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, 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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, 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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

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)

263 of the Act in as much as the order of the Assessing Officer U/s. 143(3) of the Act is neither erroneous nor prejudicial to the interests of the Revenue. 3. The Ld. CIT is not justified in directing the Assessing Officer to consider for disallowance

THE WEST GODAVARI DISTRICT CO OP MARKETING SOCIETY LTD ,ELURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, VISAKHAPATNAM

Bench: Shri Balakrishnan Sshri Sandeep Singh Karhailthe West Godavari District Co-Op. Marketing Society Ltd., Eluru, 25-55, Opposite To Fire Station N.R. Pet Eluru - 534006 ............... Appellant Pan: Aaaat7717Q V/S Principal Commissioner Of Income Tax, Pcit, Visakhapatnam - 1 ……………… Respondent

263 of the Act, the learned PCIT initiated revisionary proceedings on the basis that the assessee claimed deduction of Rs.1,06,79,044 under section 80P(2)(a)(iv) of the Act. However, on the verification of the schedule on interest income, 3 the learned PCIT noted that the assessee received interest income of Rs. 68

MUTHAVARAPU SRINIVASA BABU,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), VIJAYAWADA

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआईटीए. नं. / Ita No. 465/Viz/2024 (A.Y. 2012-13) Muthavarapu Srinivasa Babu V. Asst. Cit – Circle – 2(1) C/O. Ca M.V. Prasad Cr Buildings, 1St Floor Annex D.No. 60-7-13, Ground Floor M.G. Road, Vijayawada – 520002 Siddhartha Nagar, 4Th Lane Andhra Pradesh Vijaywada-520010 Andhra Pradesh [Pan:Abwpm3798A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri Mv Prasad, Ca राजस्व का प्रतततितित्व/ Department Represented By : Dr. Aparna Villuri, Sr.Ar

263 dated 28.03.2017 set aside the order of the Ld.AO and directed to Ld.AO to re-do the assessment. Accordingly, in the Page No. 3 Muthavarapu Srinivasa Babu reassessment proceedings again notices were issued and duly served to the assessee. During the re-assessment proceedings, Ld. AO noticed from the record that the assessee had deposited cash

KHAN MOHAMMAD DIAMONDS & JEWELLERS PRIVATE LIMITED,,GUNTUR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL),, VISAKHAPATNAM

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.141/Viz/2020 (ननधधारण वर्ा/Assessment Year:2017-18) M/S Khan Mohammad Diamonds Vs. Pr.Commissioner Of Income Tax & Jewellers Private Limited, (Central) 5-37-221/A, 4Th Lane Visakhapatnam Brodipet, Guntur [Pan : Aacck6467A]

68 to section 69C of the Act. In this case, the AO has not invoked any such section. 4 I.T.A. No141/Viz/2020, A.Y.2017-18 M/s Khan Mohammad Diamonds & Jewellers Pvt. Ltd, Guntur The assessee placed paper book and as per paper book page No.58, it is seen that the AO called for the information regarding excess stock of Rs.7