ITAT Visakhapatnam Judgments — September 2022

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAMAHENDRAVARAM vs M/S. VINAYAKA ALLOY CASTINGS (P) LTD, RAZOLE

ITA 633/VIZ/2019[2005-2006]Status: Disposed9 Sept 2022AY 2005-2006Allowed

The Tribunal found that the assessee did not appear or provide any evidence to support the claim for depreciation loss set off. Consequently, the Tribunal set aside the CIT(A)'s order and allowed the revenue's appeal.

ASSOCIATION OF RELIEF VOLUNTREERS,VIJAYAWADA vs THE INCOME TAX OFFICER(EXEMPTIONS), RAJAMAHENDRAVARAM

ITA 194/VIZ/2020[2016-17]Status: Disposed9 Sept 2022AY 2016-17Dismissed

The Tribunal held that the assessee failed to expend the money during the relevant assessment year and did not file Form-10 within the prescribed due date. Therefore, the exemption claimed was not valid.

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPTNAM vs DREDGING CORPORATION OF INDIA LIMITED, VISAKHAPTNAM

ITA 54/VIZ/2021[2018-19]Status: Disposed9 Sept 2022AY 2018-19Dismissed

The Tribunal upheld the order of the CIT(A) and dismissed the revenue's appeal. The Tribunal found that the issue was covered by previous decisions of coordinate benches in the assessee's own case, which had consistently held that such income was not part of the core dredging activity.

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM vs IDUPULAPATI SRINIVASARAO, VISAKHAPATNAM

ITA 57/VIZ/2021[2016-17]Status: Disposed9 Sept 2022AY 2016-17Remanded

The Tribunal held that since additional evidence was submitted before the CIT(A) which was not examined by the AO, the matter should be remitted back to the AO for verification. The CIT(A)'s order was set aside for statistical purposes.

SSNR PROJECTS PRIVATE LIMITED,VISAKHAPATNAM vs DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM

ITA 142/VIZ/2022[2018-19]Status: Disposed9 Sept 2022AY 2018-19Allowed

The Tribunal held that for the assessment years in question, if the employee's contribution to PF & ESI was remitted within the due date of filing the return of income, the disallowance made by the revenue authorities was not justified.

SSNR PROJECTS PRIVATE LIMITED,VISAKHAPATNAM vs DCIT/ACIT, CIRCLE-3(1), VISAKHAPATNAM

ITA 143/VIZ/2022[AY 2019-20]Status: Disposed9 Sept 2022Allowed

The Tribunal held that for the assessment years in question, it is sufficient if the employee's contribution to PF & ESI is remitted within the due date of filing the return of income. Therefore, the disallowance made by the revenue authorities is to be deleted.

DEVI SEA FOODS LIMITED,VISAKHAPATNAM vs DCIT, CIRCLE-3(1), VISAKHAPATNAM

ITA 75/VIZ/2022[2017-18]Status: Disposed9 Sept 2022AY 2017-18Partly Allowed

The Tribunal held that corporate guarantee commission is an international transaction and should be charged at 0.50% on the utilized amount, following a High Court decision. Regarding Section 14A, the Tribunal allowed the appeal, following a Supreme Court ruling that it is only triggered if exempt income is earned.

DREDGING CORPORATION OF INDIA,VISAKHAPATNAM vs THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM

ITA 211/VIZ/2020[2015-16]Status: Disposed9 Sept 2022AY 2015-16Dismissed

The Tribunal upheld the order of the CIT(A) and dismissed the revenue's appeal. The Tribunal found that the issue was covered by previous decisions of coordinate benches in the assessee's own case, which had consistently held that such income was not part of the core dredging activity.