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)

73 taxmann.com 68 (Mumbai Trib.) wherein it was held as under: - I have carefully considered the rival submissions. In the present case the addition has been made by the income tax authorities by treating the cash deposits in the bank account as an unexplained cash credit within the meaning of sect/on 68 of the Act The legal point raised

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

73 taxmann.com 68 (Mumbai Trib.) wherein it was held as under: - I have carefully considered the rival submissions. In the present case the addition has been made by the income tax authorities by treating the cash deposits in the bank account as an unexplained cash credit within the meaning of sect/on 68 of the Act The legal point raised

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

73 taxmann.com 68 (Mumbai Trib.) wherein it was held as under: - I have carefully considered the rival submissions. In the present case the addition has been made by the income tax authorities by treating the cash deposits in the bank account as an unexplained cash credit within the meaning of sect/on 68 of the Act The legal point raised

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.

73,47,000/- as unexplained cash credits under section 68 of the Act. 16. We find on a perusal

M/S. COWTHAMI BUILDERS,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble & M/S. Gowthami Builders, Vs. Ito, Ward-1(4), D.No. 48-3-6, Srinagar, Visakhapatnam. Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent) & Ito, Ward-1(4), Vs. M/S. Gowthami Builders, Visakhapatnam. D.No. 48-3-6, Srinagar, Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent)

73,30,000/- towards unsubstantiated cash ITA No.323 &392/VIZ/2017 (Gowthami Builders) credits under section 68 of the Act to the total

GOWTHAMI BUILDERS,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble & M/S. Gowthami Builders, Vs. Ito, Ward-1(4), D.No. 48-3-6, Srinagar, Visakhapatnam. Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent) & Ito, Ward-1(4), Vs. M/S. Gowthami Builders, Visakhapatnam. D.No. 48-3-6, Srinagar, Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent)

73,30,000/- towards unsubstantiated cash ITA No.323 &392/VIZ/2017 (Gowthami Builders) credits under section 68 of the Act to the total

THE ITO,, VISAKHAPATNAM vs. M/S. GOWTHAMI BUILDERS,, VISAKHAPATNAM

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble & M/S. Gowthami Builders, Vs. Ito, Ward-1(4), D.No. 48-3-6, Srinagar, Visakhapatnam. Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent) & Ito, Ward-1(4), Vs. M/S. Gowthami Builders, Visakhapatnam. D.No. 48-3-6, Srinagar, Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent)

73,30,000/- towards unsubstantiated cash ITA No.323 &392/VIZ/2017 (Gowthami Builders) credits under section 68 of the Act to the total

ITO, WARD-1(4), , VISAKHAPATNAM vs. GOWTHAMI BUILDERS,, VISAKHAPATNAM

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee in ITA No

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble & M/S. Gowthami Builders, Vs. Ito, Ward-1(4), D.No. 48-3-6, Srinagar, Visakhapatnam. Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent) & Ito, Ward-1(4), Vs. M/S. Gowthami Builders, Visakhapatnam. D.No. 48-3-6, Srinagar, Visakhapatnam. Pan No. Aaifg 6738 K (Appellant) (Respondent)

73,30,000/- towards unsubstantiated cash ITA No.323 &392/VIZ/2017 (Gowthami Builders) credits under section 68 of the Act to the total

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

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

GANESH KUMAR PAIDI,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-2(4), VIJAYAWADA

Appeal is allowed in terms of our aforesaid observations

Bench: Us:

73,95,320/- made in the case of the assessee for the subject year i.e AY 2017-18. The ld.AR submitted that the applicability of the post-amended Section 115BBE(1) of the Act, i.e as had been made available on the statute vide the 11 Ganesh Kumar Paidi Taxation Laws (Second Amendment) Act, 2016, dated 15.12.2016 w.e.f

KANCHAN LALWANI,VIZIANAGARAM vs. INCOME TAX OFFICER, WARD-1, VIZIANAGARAM

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

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

68 is illegal, invalid and bad in law; 6. The learned Commissioner of Income Tax Appeal, National Faceless Appeal Centre erred in not considering that assessee has specifically objected the stamp duty value, therefore confirming addition made U/s. 56(2)(x)(b) * B of Rs. 45,40,70/- without referring matter to DVO on assumption and presumption basis is illegal

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

Bench: Us:

73,39,840/-. Subsequently, the case of the assessee was selected for scrutiny assessment under Section 143(2) of the Act. 3. During the course of assessment proceedings, the A.O. came across information that search proceedings under Section 132 of the Act were conducted on 28.05.2022 on a leading group operating in the garment sector located at Gandhi

JASTI VENKATAPATHI RAO,GUNTUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), GUNTUR

In the result, appeal of the assessee is partly allowed

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.365/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2018-19) Jasti Venkatapathi Rao V. Acit – Circle -2(1) Income Tax Office, 3Rd Floor Flat No. 23 Venkata Ganapathy Residency Standard House 6Th Line, Brodipet Beside Sbi, Nagarampalem Guntur - 522002 Guntur-522004 [Pan:Abupj3793Q] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri Gvn Hari, Advocate राजस्व का प्रतततितित्व/ Department Represented By : Dr. Aparna Villuri, Sr. Ar

section 68 of the Act as unexplained. On this issue, Ld.Authorised Representative [hereinafter “Ld.AR”] submitted that in the case of M/s. Balaji Infra and M/s. Sri Sai Balaji, the unsecured loans were taken by way of bank transactions which is evidenced by the bank statements of the assessee. Further he also submitted that loan creditors have submitted their bank

ACIT, 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:

Section 147 of the Act. 67. As the financials of the lender company, viz. M/s VRB Capital Services India Pvt. Ltd. (supra) revealed PBT at a loss of (Rs. 4.70 crore), therefore, the A.O. was of the view that it lacked the creditworthiness to advance a loan of Rs. 50 lac to the assessee company. Apart from that

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:

Section 147 of the Act. 67. As the financials of the lender company, viz. M/s VRB Capital Services India Pvt. Ltd. (supra) revealed PBT at a loss of (Rs. 4.70 crore), therefore, the A.O. was of the view that it lacked the creditworthiness to advance a loan of Rs. 50 lac to the assessee company. Apart from that

ACIT, CIRCLE-1(1),, 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:

Section 147 of the Act. 67. As the financials of the lender company, viz. M/s VRB Capital Services India Pvt. Ltd. (supra) revealed PBT at a loss of (Rs. 4.70 crore), therefore, the A.O. was of the view that it lacked the creditworthiness to advance a loan of Rs. 50 lac to the assessee company. Apart from that

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:

Section 147 of the Act. 67. As the financials of the lender company, viz. M/s VRB Capital Services India Pvt. Ltd. (supra) revealed PBT at a loss of (Rs. 4.70 crore), therefore, the A.O. was of the view that it lacked the creditworthiness to advance a loan of Rs. 50 lac to the assessee company. Apart from that