ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE, SHILLONG, SHILLONG vs. MEGHALAYA POWER TRANSMISSION CORPORATION LIMITED, LUMJINGSHAI, SHILLONG

In the result, the appeal of the Revenue is allowed

275/- In respect of disallowances\nmade by the AO to the extent sustained in appeals (ii) an amount of Rs.2,98,51,729/-\nwhich the AO had held as wrongly claimed loss in the belated Return filed u/s 139(4). I\nfind that the appellant has pressed for the grounds related to the second amount only.\nIt has been submitted

MEGHALAYA POWER GENERATION CORPORATION LIMITED,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG

In the result, the appeal filed by the assessee in ITA No

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 40(a)(ia) of the Act shall not be deducted in computing the income chargeable under the head ‘Profits and gains of business or profession’. Since the year under appeal is AY 2016-17 therefore, the said amendment is applicable and therefore, the disallowance u/s 40(a)(ia) of the Act needs to be sustained only to the extent

MEGHALAYA ENERGY CORPORATION LIMITED, (GPF TRUST),SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG

In the result, the appeal filed by the assessee in ITA No

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 40(a)(ia) of the Act shall not be deducted in computing the income chargeable under the head ‘Profits and gains of business or profession’. Since the year under appeal is AY 2016-17 therefore, the said amendment is applicable and therefore, the disallowance u/s 40(a)(ia) of the Act needs to be sustained only to the extent

MEGHALAYA ENERGY CORPORATION LIMITED,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG

In the result, the appeal filed by the assessee in ITA No

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 40(a)(ia) of the Act shall not be deducted in computing the income chargeable under the head ‘Profits and gains of business or profession’. Since the year under appeal is AY 2016-17 therefore, the said amendment is applicable and therefore, the disallowance u/s 40(a)(ia) of the Act needs to be sustained only to the extent

MEGHALAYA POWER TRANSMISSION CORPORATION LIMITED,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG

In the result, the appeal filed by the assessee in ITA No

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 40(a)(ia) of the Act shall not be deducted in computing the income chargeable under the head ‘Profits and gains of business or profession’. Since the year under appeal is AY 2016-17 therefore, the said amendment is applicable and therefore, the disallowance u/s 40(a)(ia) of the Act needs to be sustained only to the extent

MEGHALAYA POWER DISTRIBUTION CORPORATION LIMITED,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG

In the result, the appeal filed by the assessee in ITA No

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 40(a)(ia) of the Act shall not be deducted in computing the income chargeable under the head ‘Profits and gains of business or profession’. Since the year under appeal is AY 2016-17 therefore, the said amendment is applicable and therefore, the disallowance u/s 40(a)(ia) of the Act needs to be sustained only to the extent

DY. COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG vs. THE MEGHALAYA COOPERATIVE APEX BANK LIMITED, SHILLONG

In the result the appeal of the Revenue is allowed and the Cross

Bench: Sri Manomohan Das & Sri Rakesh Mishra

disallowance and also allow the exemption u/s 10(26) and also consider the cases covered by form No.15H/15G on I.T.A. No.: 50/GTY/2024 Assessment Year: 2018-19 The Meghalaya Cooperative Apex Bank Limited. production of supporting evidences. Thus ground on this point is partly allowed. In view of the above discussion, the ground raised by the appellant is partly allowed subject

INCOME TAX OFFICER, WARD-3(4), GUWAHATI vs. M/S. S.R.K.M. STEELS (P) LTD, GUWAHATI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Manomohan Das, Jm Income Tax Officer, Ward 3(4) M/S S.R.K.M Steels (P) Ltd. Room No.707, 7Th Floor, Aayakar M/S Srkm Steels (P) Ltd. Lokhra Bhawan Poorva, G.S. Road, Road, P.O. Sawkuchi, Guwahati- Vs. Guwahati-781005, Assam 781034, Assam (Appellant) (Respondent) Pan No. Aalcs5046E Assessee By : Shri Somnath Ghosh, Ar Revenue By : Shri Santosh Kumar Karnani, Dr Date Of Hearing: 17.11.2025 Date Of Pronouncement: 18.12.2025

Section 40A(2)(b) of the Act. The ld. AO noted that during the year the assessee made payment of the above amount to M/s Shri Sriram Keshrimal against the purchase of ₹98,11,275/- which is not reasonable. Accordingly, the ld. AO noted that the assessee failed to provide the interest receivable by him from M/s Shri Sriram Keshrimal