ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

Section 14A cannot be\nmechanically made by invoking Rule 8D in a routine or automatic\nmanner, we are of the view that, though the CIT(Appeals) has\nproceeded on an incorrect factual premise regarding absence of exempt\nincome, but the disallowance under section 14A is even otherwise not\nsustainable on the ground that the AO has failed to record

DCIT., CIRCLE-2(1), HYDRABAD vs. KALPTARU INVESTMENTS PRIVATE LIMITED, HYDERABAD

In the result, appeal ITA

purchase and sale is not with the\nsame party, then, it cannot be said to be a reversal trade for\nnon-genuine or bogus profit or loss. It is also pertinent to note\n\n23\nITA.No.1077/Hyd./2025\nthat the profit of Rs.1,49,86,825/- is duly reported by the\nassessee at the time of filing the original return