ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI
In the result, the appeal of the assessee is allowed
ITA 1141/CHNY/2025[2017-18]Status: DisposedITAT Chennai25 Aug 2025AY 2017-18
Bench: Shri George George K & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1141/Chny/2025 Assessment Years: 2017-18 Asirvad Micro Finance Limited, Deputy Commissioner Of Income No.9 Ninth Floor, Club House Road, Tax, Anna Salai, Corporate Circle-1(1), Chennai- 600 002. Chennai. [Pan: Aagca5275J] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant) अपीलार्थी की ओर से/ Assessee By : Shri P.R.Prasanna Varma, F.C.A & Mr.Arjun Rajagopalan, C.A, प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 06.08.2025 घोषणा की तारीख /Date Of Pronouncement : 25.08.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :
For Appellant: Shri P.R.Prasanna Varma, F.C.A &For Respondent: Mr.Bipin C.N, CIT
Section 115BSection 69A
115B of Rs. 51,12,21,007/- was filed on 31.10.2017. The Ld.AO noted that the assessee had through its securitization activity earned interest on loan (Microfinance) of Rs.334,37,28,960/-. From the impugned amount the assessee was found to have reduced an amount of Rs.28,99,56,987/- so as to offer interest on microfinance loans amounting
