APPANA HARI NAGA VENKATA RAO,,VISAKHAPATNAM vs. THE ITO,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleappana Hari Naga Venkat Rao, Vs. Ito, Ward-1(4), D.No. 15-32-7, Gokul Road, Visakhapatnam. Maharanipeta, Visakhapatnam. Pan No. Adopa 5287 G (Appellant) (Respondent)

143(3) r.w.s. 147 of the Act by determining taxable long term capital gain at Rs. 1,31,92,445/-. (Appana Hari Naga Venkat Rao) While completing the assessment, the Assessing Officer adopted the deemed consideration under section 50C of Rs. 2,95,02,500/- for computation of capital gains and restricted the claim of deduction under section

THE DY. CIT,, VISAKHAPATNAM vs. M/S. SNF (INDIA) LIMITED,, VISAKHAPATNAM

In the result, appeals filed by the Revenue and the Cross objections filed by the assessee are dismissed

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

Transfer pricing is altogether is a different subject and has to be analysed within the ambit of law prescribed u/sec. 92CA of the Act. The TPO examined the aspect of royalty payments made between the group entities and also the approach followed by other countries like USA, Australia, Canada, Germany etc. while examining the royalty payments and also the OECD

THE DY. CIT,, VISAKHAPATNAM vs. M/S. SNF (INDIA) LIMITED,, VISAKHAPATNAM

In the result, appeals filed by the Revenue and the Cross objections filed by the assessee are dismissed

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

Transfer pricing is altogether is a different subject and has to be analysed within the ambit of law prescribed u/sec. 92CA of the Act. The TPO examined the aspect of royalty payments made between the group entities and also the approach followed by other countries like USA, Australia, Canada, Germany etc. while examining the royalty payments and also the OECD

KUMAR PAPPU SINGH,TANUKU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, , ELURU

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.270/Viz/2018 (धििाारण िर्ा/Assessment Year:2013-2014) Sri Kumar Pappu Singh Vs. Dy.Commissioner Of D.No.23-3-26, Sundaram Nagar Income Tax, Sajjapuram Circle-1, Kks Towers, Tanuku Rr Pet, Eluru [Pan : Aeepp2496P] Andhra Pradesh (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

transfer. In the circumstances, section 4(1)(a) was not applicable as held by the Tribunal. The assessee also relied on the decision of Miss Dhun Dadabhoy Kapadia Vs. CIT [36 ITR 0651].” 9. With regard to the additional ground, the Ld.AR argued that in the instant case, the assessment was completed u/s 143(3). Subsequently, the AO had issued

OCEAN INDIA PVT. LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blei.T. (T.P.) A. No. 150/Viz/2016 (Asst. Year : 2011-12) M/S. Teejay India Pvt. Ltd. Vs. The Acit, Circle-5(1), (Formerly Known As Ocean Visakhapatnam. India Pvt. Ltd.), Plot No. 15, Brandix India Apparel City Pvt. Ltd. Sez, Pudimadaka Road, Atchutapuram, Visakhapatnam. Pan No. Aaaco 9452 H (Appellant) (Respondent)

143(3) r.w.s 144C(13) of Income Tax Act dated 29/01/2016 for the Assessment Year 2011-12. 2 IT(TP)A No. 150/VIZ/2016 (Teejay India Pvt. Ltd.) 2. The assessee filed the appeal with the following grounds :- ―1. That the order of the learned Assistant Commissioner of Income- tax, Circle-5(1), Visakhapatnam ('learned Assessing Officer' or 'learned

TEEJAY INDIA PRIVATE LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, DC/AC 4(1), VISAKHAPATNAM

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

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

143(2) of the Act was issued on 23/08/2018 and served on the assessee on 1/9/2018. Subsequently notice U/s. 142(1) was issued on 17/10/2018, 07/11/2019, 08/11/2019 & 23/11/2019. In the course of assessment proceedings, the Ld. AO noticed that Form 3CEB report of the assessee company had international transactions with its Associated Enterprises (AEs) for Rs. 381.29 Crs. Hence

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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)

143(3) of the Act by assessing the total income at Rs. 190,60,45,090/- and made the following additions to the returned income: Sl Nature of addition Amount No (Rs.) 1 Disallowance of prior period expenses offered for 2,23,93,529 addition by the assessee, discussed at para 2 of the Asst. Order 2. Disallowance of prior

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

143(3) of the I.T. Act is contrary to the facts and also the law applicable to the facts of the case. 2. The learned CIT(A) is not justified in treating the investment of RS. 1,02,25,000/-& Rs.56,60,000/- made by the 34 shareholders in the appellant company as unexplained cash credit in the books