2013 (11) TMI 1657 - AT - Income Tax

Issues Involved:
1. Addition of unexplained investment.
2. Deletion of additions by CIT(A).
3. Treatment of income from other sources.
4. Treatment of receipts from civil contract works.
5. Accretion of advances.
6. Unexplained investment in fixed deposits.
7. Unexplained investment in land transactions.
8. Addition based on unsigned MOU.

Summary:

1. Addition of Unexplained Investment:
- ITA No.914/Hyd/2011 (AY 2002-03): The assessee contested the addition of Rs. 25 lakhs as unexplained investment. The ITAT noted the lack of evidence to prove the source of the loan and remitted the issue back to the Assessing Officer (AO) for fresh consideration.
- ITA No.915/Hyd/2011 (AY 2004-05): Similar issue with Rs. 1,27,00,000 and Rs. 22,80,000 added as unexplained investments. The ITAT remitted the issue back to the AO for fresh consideration.
- ITA No.916/Hyd/2011 (AY 2005-06): Rs. 1,46,00,000 added as unexplained investment. The ITAT remitted the issue back to the AO.
- ITA No.1052/Hyd/2011 (AY 2006-07): Rs. 10,24,033 added as unexplained investment. The ITAT upheld the CIT(A)'s decision.
- ITA No.1053/Hyd/2011 (AY 2007-08): Rs. 80 lakhs and Rs. 15,63,500 added as unexplained investments. The ITAT remitted the issue back to the AO for fresh consideration.

2. Deletion of Additions by CIT(A):
- ITA No.900/Hyd/2011 (AY 2003-04): The CIT(A) deleted the addition of Rs. 23,61,130 and Rs. 29,65,279. The ITAT upheld the CIT(A)'s decision.
- ITA No.901/Hyd/2011 (AY 2004-05): The CIT(A) deleted the addition of Rs. 17,35,173. The ITAT upheld the CIT(A)'s decision.
- ITA No.468/Hyd/2012 (AY 2008-09): The CIT(A) deleted the addition of Rs. 13,81,00,000. The ITAT upheld the CIT(A)'s decision.

3. Treatment of Income from Other Sources:
- ITA No.900/Hyd/2011 (AY 2003-04): The AO treated Rs. 32,23,129 as income from other sources. The CIT(A) and ITAT found it to be from civil contract works and upheld the assessee's treatment.

4. Treatment of Receipts from Civil Contract Works:
- ITA No.900/Hyd/2011 (AY 2003-04): The AO treated Rs. 32,23,129 as income from other sources. The CIT(A) and ITAT upheld the assessee's treatment of the amount as receipts from civil contract works.

5. Accretion of Advances:
- ITA No.900/Hyd/2011 (AY 2003-04): The AO added Rs. 23,61,130 as accretion of advances. The CIT(A) deleted the addition, and the ITAT upheld the CIT(A)'s decision.
- ITA No.901/Hyd/2011 (AY 2004-05): Similar issue with Rs. 17,35,173 added as accretion of advances. The CIT(A) deleted the addition, and the ITAT upheld the CIT(A)'s decision.

6. Unexplained Investment in Fixed Deposits:
- ITA No.1052/Hyd/2011 (AY 2006-07): Rs. 1 lakh added as unexplained investment in fixed deposits. The ITAT upheld the CIT(A)'s decision.

7. Unexplained Investment in Land Transactions:
- ITA No.1053/Hyd/2011 (AY 2007-08): Rs. 90 lakhs added as unexplained investment. The ITAT remitted the issue back to the AO for fresh consideration.

8. Addition Based on Unsigned MOU:
- ITA No.468/Hyd/2012 (AY 2008-09): The AO added Rs. 13,81,00,000 based on an unsigned MOU. The CIT(A) deleted the addition, and the ITAT upheld the CIT(A)'s decision.

Conclusion:
- Assessee's appeals for AY 2002-03, 2004-05, 2005-06, and 2007-08 were partly allowed for statistical purposes.
- Revenue's appeals for AY 2003-04, 2004-05, and 2008-09 were dismissed.
- Assessee's appeal for AY 2006-07 was dismissed.

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