2021 (9) TMI 1123

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.... ORDER Per S.S. Godara, JM This Revenue's appeal for A.Y. 2010-11 arises from the CIT(A)-7, Hyderabad's order dated 24-01-2019 passed in case No. 0138/CIT(A)-7/2017-18, in proceedings u/s. 143(3) r.w.s. 147 of the Income Tax Act, 1961 [in short, 'the Act']. Case called twice. None appeared at the assessee's behest. He is accordingly proceeded ex-parte. 2. We notice....

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....,07,99,300/- under the head 'short term capital gains' on protective basis. The Assessing Officer held that the appellant has sold the plot with No. 623-F in Sy. Nos. 403/1(Old), 120 (New) of Shaikept (V) and 102/1 of Hafeezpet (V) within the approved layout of the Jubilee Hills Cooperative Society to Sri V. Suresh Babu for a document consideration of Rs. 1,60,00,000/-, which is at a much ....

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....hority u/s. 71 of the Prohibition of Benami Transactions Act, 1988, New Delhi Ref. No. R-365/2017 order u/s. 26(3), dated 31-12-2018, have held in Para 9 & 10 as under: "9. Considering the submissions of the both side and the aforesaid discussion it is held that the property/money deposited in bank account falls within the ambit of benami property within the meaning section 2(8) and the s....

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....s not the beneficiary of the transactions and the real beneficiary is Smt. Renuka Datla. Therefore, the protective addition made by the Assessing Officer in the hands of appellant requires to be deleted. Hence, the Assessing Officer is directed to delete the addition. These grounds of appeal are allowed". 4. We find no merit in the Revenue's instant sole substantive grievance seeking to rev....