FARMAX INDIA LIMITED,,HYDERABAD vs. DCIT, CIRCLE 1(3), HYDERABAD
In the result, the appeal filed by the assessee is dismissed and the appeal filed by the revenue is allowed
ITA 937/HYD/2014[2009-10]Status: DisposedITAT Hyderabad16 Jan 2023AY 2009-10
Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyassessment Year: 2009-10 Farmax India Limited Vs. Dcit,Circle-1(3) 4Th Floor, Alluri Trade Centre I.T.Towers, A.C.Guards Bhagayanagar Colony Masab Tank Opp.Kphb Colony Hyderabad Kukatpally Hyderabad-500 072
For Appellant: NoneFor Respondent: Shri Jeevan Lal
Section 133(6)Section 133ASection 143(2)Section 148Section 40A(3)
270/- which included
Rs.2,75,000/- being subscription towards increase in share capital. This being a capital expenditure, the AO disallowed the amount of Rs. 2,75,000/-.
5. The AO further noted that the assessee company during the impugned AY has allotted 6,43,000 shares of Rs.10 each at a premium of Rs.40 to 13 persons