A.SRINIVASA RAO,,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-1(4), , VISAKHAPATNAM

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.518/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10) Sri A.Srinivasa Rao Vs. Income Tax Officer D.No.48-13-20/1, F.No.Sf2 Ward-1(4) Sri Krishna Sai Residency Visakhapatnam Janaki Rama Street Visakhapatnam [Pan :Adhpa2185Q] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 68 of the Act. The case law relied upon by the Ld.DR in the case of Sachdeva (supra) though related to sale of jewellery and the failure of the assessee to prove the genuineness of sale, it was not related to the addition u/s 68. The case law relied upon by the Ld.DR is distinguishable and does

VANGAPANDU PREM KUMAR,,KAKINADA vs. THE INCOME TAX OFFICER, WARD-1, , KAKINADA

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपीलसं./I.T.A.No.269/Viz/2019 (ननधधारण वर्ा/Assessment Year:2014-2015) Vangapandu Prem Kumar Vs. Income Tax Officer D.No.42-3-1 Ward-I, Kakinada Sri Venkateswara Garments Tilak Street, Main Road Kakinada [Pan : Abxpv9304L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt U.Mini Chandran, Sr.Ar 23.09.2020 सुनवधई की तधरीख / Date Of Hearing : घोर्णध की तधरीख/Date Of Pronouncement : 23.11.2020

section 68 refers to the entries that are made in the books of accounts for which the assessee fails to offer satisfactory explanation. The Ld.AR further submitted that the additional grounds are legal grounds which go to the root of the assessment and No fresh enquiry or material is required to adjudicate the grounds and the entire material

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA vs. THE KRISHNA DISTRICT MILK PRODUCERS MUTUALLY AIDED CO OP UNION LIMITED, VIJAYAWADA

68", "80P(2)(d)", "69C", "133(6)" ], "issues": "1. Whether the cash deposits during the demonetization period were sufficiently explained by the assessee. 2. Whether the difference in payment to GCMMFL constituted unexplained expenditure. 3. Whether interest income earned from a cooperative bank is eligible for deduction under Section

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

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)

section 68 of the Act. The case law relied upon by the Ld.DR in the case of Sachdeva (supra) though related to sale of jewellery and the failure of the assessee to prove the genuineness of sale, it was not related to the addition u/s 68. The case law relied upon by the Ld.DR is distinguishable and does

ASHA SANGHAVI,RAJAHMUNDRY vs. INCOME TAX OFFICER, WARD-2, , RAJAHMUNDRY

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.33/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12) Smt.Asha Sanghavi Vs. Income Tax Officer D.No.7-22-12 Ward-2 Nandepu Heights Rajamahendravaram T.Nagar Rajamahendravaram [Pan : Awfps2816R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.Manoj Kumar, Dr सुनवधई की तधरीख / Date Of Hearing : 06.11.2019 घोर्णध की तधरीख/Date Of Pronouncement : 15.11.2019 आदेश /O R D E R

section 68 of the Act. The case law relied upon by the Ld.DR in the case of Sachdeva (supra) though related to sale of jewellery and the failure of the assessee to prove the genuineness of sale, it was not related to the addition u/s 68. The case law relied upon by the Ld.DR is distinguishable and does

MANNE SUBBA RAO,RAJAMAHENDRAVARAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), , RAJAMAHENDRAVARAM

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

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.158/Viz/2018 (धििाारण िर्ा/ Assessment Year: 2014-2015) Manne Subba Rao Acit, Circle-2(1) D.No.78-15-21/5,T-1, Rajamahendravaram Block-1, Rama Residency Syamala Nagar Rajamahendravaram [Pan : Ayyps 3433R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यार्थी की ओर से/ Respondent By : Smt. Suman Malik, Dr

68,370/- on 04.08.2014 for the A.Y. 2014-15. The case was selected for scrutiny and the assessment was completed on total income of Rs.26,01,320/-. In the assessment, the Assessing Officer (AO) computed the short term capital gains from sale of plots at Rs.19,32,070/-. During the assessment proceedings, the AO found that the assessee has sold

DIRISALA BALA MURALI,PALACOLE vs. THE INCOME TAX OFFICER, WARD-1, , PALACOLE

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.452/Viz/2019 (ननधधारण वर्ा/Assessment Year:2011-12) Dirisala Bala Murali Vs. Income Tax Officer D.No.15-8-12/2 Ward-I Shavukarpet Palakol Palakol, West Godavari Dist. [Pan : Asfpd4074J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt.Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 15.07.2020 घोर्णध की तधरीख/Date Of Pronouncement : 29.07.2020 आदेश /O R D E R Per Shri D.S.Sunder Singh: This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)], Rajamahendravaram In Ita Nos.10090 & 10094/2017-18 Dated 29.03.2019 For The Assessment Year (A.Y.)2011-12. 2

section 68 of the Act. The case law relied upon by the Ld.DR in the case of Sachdeva (supra) though related to sale of jewellery and the failure of the assessee to prove the genuineness of sale, it was not related to the addition u/s 68. The case law relied 8 I.T.A. No.452/Viz/2019, A.Y.2011-12 Dirisala Bala Murali, Palakol upon

RANAR AGROCHEM LIMITED,PARAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.288/Viz/2024 (िनधा"रण वष"/Assessment Year:2014-15) Ranar Agrochem Limited, Vs. Deputy Commissioner Visakhapatnam. Of Income Tax, Visakhapatnam. Pan: Aaccp0372M (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M. Madhusudan, Ca (Hybrid) राज" व "ारा/Revenue By: Sri Jenardhanan V, Cit-Dr सुनवाई की तारीख/Date Of Hearing: 14/10/2025 घोषणा की तारीख/Date Of 31/10/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Company Is Directed Against The Order Passed By The Commissioner Of Income-Tax (Appeals), National Faceless Appeal Center (Nfac), Delhi, Dated 15/05/2024, Which In Turn Arises From The Order Passed By The Assessing Officer (For Short, “A.O.”) Under Section 143(3) Of The Income Tax Act, 1961 (For Short “The Act”) Dated 30/12/2016 For A.Y.

2) denies any set off of any loss to be allowed if the addition is in the nature of Section 68 of the Act. This ground is dismissed. 6

THE ACIT,, GUNTUR vs. SAI BHASKAR IRONS LIMITED,, GUNTUR

In the result, appeal of the revenue is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अऩीऱ सं./I.T.A.No.108/Viz/2016 (ननधधारण वषा/Assessment Year:2012-13) Asst.Commissioner Of Income Tax Vs. M/S.Sai Bhaskar Circle-2(1), Guntur Irons Limited 3-1-3/A, 3Rd Lane Rajendra Nagar Guntur [Pan :Aamcs1675G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Shri Deba K.Sonowala, Dr प्रत्यथी की ओर से / Respondent By : Shri I Kama Sastry, Ar सुनवधई की तधरीख / Date Of Hearing : 09.02.2018 घोषणा की तारीख/Date Of Pronouncement : 21.02.2018

6. Thus as far as the income from other sources are concerned, given the fact that under section 32(2) of the Act, there is a provision of set off of unabsorbed depreciation allowance is against the income from other sources, it is not necessary that one should wait for the assessee to earn income from business

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this