“Section 7(1)(b)”

Section References (mined)Section 7Section 7(1)(b)2 judgments

SRI LAKSHMI GENERAL STORES,GUNTUR vs. INCOME TAX OFFICER, WARD-1(1), GUNTUR

In the result, appeal of the assessee in ITA

ITA 479/VIZ/2025[2023-24]Status: DisposedITAT Visakhapatnam29 Oct 2025AY 2023-24

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

Section 143(1)Section 194QSection 199Section 7(1)(b)

AMCY), Guntur, Andhra Pradesh, with a valid certificate of license as a commission agent under Form 8-C, under Rule 49 as per Section 7(1)(b) of the Andhra Pradesh Agricultural Produce and Livestock Markets Act, 1966. The assessee carries on the business of purchase and sale of agriculture ... Agricultural Market Committee Yard in Guntur, Andhra Pradesh, with a valid certificate of license, as a commission agent, under Rule 49 and Section 7(1)(b) of the Andhra Pradesh Agricultural Produce and Livestock Market Act, 1966. As per AMC regulations, the assessee receives 2% commission from farmers on sales

SRI LAKSHMI GENERAL STORES,GUNTUR vs. INCOME TAX OFFICER, WARD-1(1), GUNTUR

In the result, appeal of the assessee in ITA

ITA 478/VIZ/2025[2022-23]Status: DisposedITAT Visakhapatnam29 Oct 2025AY 2022-23

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

Section 143(1)Section 194QSection 199Section 7(1)(b)