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)

68 of the Act. Accordingly, argued that the order of the Ld.CIT(A) be set aside and delete the entire addition made by the AO and allow the appeal of the assessee as well as the cross objections. 7. The Ld.DR vehemently placed reliance on the orders of the AO and argued that the AO has conducted enquiries and made

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

7 I.T.A. No.452/Viz/2019, A.Y.2011-12 Dirisala Bala Murali, Palakol purposes of section 68 of the Act. Factually speaking, in the present

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

KRISHNA PRABHAS AGRO OILS PRIVATE LIMITED,MAREDUBAKA vs. ASSISSTANT COMMISSIONER OF INCOME TAX, KAKINADA

In the result, we herein, in terms of our aforesaid observations, set aside the CIT(A) order and vacate the addition of Rs

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.546/Viz/2025 ("नधा"रण वष"/Assessment Year: 2017-18) Krishna Prabhas Agro Oils Vs. Assistant Commissioner Private Limited, Of Income Tax, Maredubaka, Kakinada. Kakinada. Pan: Aaics2638B (Appellant) (Respondent) "नधा"रती "वारा/Assessee By: Mrs. Hema Latha. K, Ca (Hybrid Hearing) राज" व "वारा/Revenue By: Dr. Aparna Villuri, Sr. Ar सुनवाई क" तार"ख/Date Of 10/11/2025 Hearing: घोषणा क" तार"ख/Date Of 12/11/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M:

Section 68 to establish the identity, creditworthiness, and genuineness of the transaction, confirmed the addition made by the AO. 7

HERMON EDUCATIONAL SOCIETY,VISAKHAPATNAM vs. INCOME TAX OFFICER (EXEMPTION WARD), VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed

Bench: Shri G. Manjunatha & Shri K. Narasimha Chary

Section 68 does not need any introduction. To summarise, it taxes any credit appearing in the books of an assessee, where the assessee is not able to or not satisfactorily able to explain the nature and source of 10 ITA.No.347/VIZ./2024 such credit. It is a deeming fiction, which taxes a credit as income on unsatisfactory explanation about

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

section 68 of the Act is not relevant for the\nPage No. 7\nI.T (SS). A.No.10/VIZ/2025&I.T.A.No.136/VIZ/2025

ASSISTANT COMMISSIONER OF INCOME TAX, GUNTUR vs. DONKALA CHENCHU NARASIMHA RAO, NELLORE

Section 68 of the Act.\n7.4.8. In view of the above discussion, it is concluded that the cash\nentriesfound in the impounded document are duly accounted by the\nappellant in his books as well as in the books of the partnership firm M/s.\nSLC. As the transactions were properly recorded, sources thereon were\nexplained, impugned entries in impounded material

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.

section 68 of the Act. The Grounds of appeal No. 4 and 5 are dismissed. 17. The Grounds of appeal no. 1, 6 and 7

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

section 68 of the Act is not relevant for the\n\nPage No. 7\n\nI.T (SS). A.No.10/VIZ/2025

ARAVIND REDDY DEVAGIRI,GUNTUR vs. INCOME TAX OFFICE, WARD-2(2), GUNTUR

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.267/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2017-18) Aravind Reddy Devagiri V. Income Tax Officer – Ward 2(2) 14-19-35, 1St Lane Vijayapuri Guntur Andhra Pradesh Jkc College Road, Guntur 522006 Andhra Pradesh [Pan: Auepd7820R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

section 68 of the IT Act is not acceptable under law. 7. The CIT(A), NFAC grossly erred in considering

BONTHULA HARI VENKATA KRISHNA,SRIKAKULAM vs. ACIT, CIRCLE-4(1), VISAKHAPATNAM

Appeal is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Balakrishnan S.आ.अपी.सं /Ita No.581/Viz/2025 (िनधा"रण वष"/Assessment Year: 2017-18) Bonthula Hari Venkata Vs. The Asst. Commissioner Krishna, Of Income Tax, Visakhapatnam. Circle-4(1), Pan: Agfpb8358K Visakhapatnam. (Appellant) (Respondent) िनधा"रती "ारा/Assessee By: Shri Gvn Hari, Advocate राज" व "ारा/Revenue By: Dr. Aparna Villuri, Sr. Ar सुनवाई की तारीख/Date Of 03/12/2025 Hearing: घोषणा की तारीख/Date Of 19/12/2025 Pronouncement: आदेश / Order Per. Ravish Sood, Jm :

68 of the Act. 6. Accordingly, the AO vide his order under section 143(3) of the Act, dated 21/12/2019, determined the income of the assessee at Rs.1,85,32,322/-. 7

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

Section 68 of the Act.\n7.4.8. In view of the above discussion, it is concluded that the cash\nentriesfound in the impounded document are duly accounted by the\nappellant in his books as well as in the books of the partnership firm M/s.\nSLC. As the transactions were properly recorded, sources thereon were\nexplained, impugned entries in impounded material

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

7. From a plain reading of section 68 of the Act, it is clear that the addition can be made

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)

section 68 of the Act aggregating to Rs.31,41,71,000/-, considering it that the assessee accepted cash in demonetised currency. On this issue Ld. Authorised Representative [hereinafter “Ld.AR”] submitted that assessee has purchased gold bullion by making payments to the sellers through RTGS / NEFT which was not disputed by the Ld.AO. Ld.AR vehemently argued that the only objection

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

7 are general in nature and needs no adjudication. 9. The other grounds relate to the addition made by the Revenue Authorities by disallowing the investment made by the various shareholders in the share capital and share premium of the assessee company as unexplained under section 68

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

7 are general in nature and needs no adjudication. 9. The other grounds relate to the addition made by the Revenue Authorities by disallowing the investment made by the various shareholders in the share capital and share premium of the assessee company as unexplained under section 68

MANOHARMAL,VIJAYAWADA vs. ITO, WARD-2(1), VIJAYAWADA

Bench: Shri Ravish Sood, Hon’Ble

section 68 are applicable in the case of the appellant. Thus, the addition of Rs.16,40,000/- made by the AO u/s.68 is upheld. Accordingly, ground no. 2 to 4 of the appeal are dismissed. 7

INCOME TAX OFFICER, VIZIANAGARAM vs. VIJAYANAGARAM WHEAT PRODUCTS PRIVATE LIMITED, KONDAKARAKAM

68\nr.w.s. 115BBE of the Act. The same documents were filed before Ld. CIT(A)\nby way of petition under Rule 46A of I.T. Rules. Ld. CIT(A) by exercising\nhis powers vested on him under section 250(4) of the Act has made the\nfollowing observations: -\nName of the\nparty\nGovind Rao\nLoan Amounts\nRs.49,50,000/-\nObservations