MOKAMA MUNGER HIGHWAY LIMITED,HYDERABAD vs. INCOME TAX OFFICER, WARD-16(4), HYDERABAD

In the result, all the three appeals of the assessee are partly allowed for statistical purposes

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

section 32 of the Income Tax Act, 1961, if considered and granted, shall not be affected by the decision of the Hon‟ble Bombay High Court. 20. A careful reading of the entire decision of the Hon‟ble Bombay High Court and in the light of the various observations made in judgment as discussed above, it is very clear that

AAK SOUTH EAST INDIA PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE-1(1), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita No. 324/Hyd/2024 (निर्धारण वर्ा / Assessment Year: 2018-19) Aak South East India Private Limited Vs. Dcit, Circle-1(1) Hyderabad Hyderabad [Pan : Aadca3601M] अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धाररती द्वधरध/Assessee By: Shri S.Rama Rao, Ld.Ar रधजस्‍व द्वधरध/Revenue By: Shri Shakeer Ahamed, Dr सुिवधई की तधरीख/Date Of Hearing: 15/07/2024 घोर्णध की तधरीख/Pronouncement On: 20/09/2024 आदेश / Order Per K. Narasimha Chary, J.M: Aggrieved By The Order Dated 08/02/2024 Passed By The Learned Commissioner Of Income Tax (Appeals) (“Ld. Cit(A)”), Bhubaneswar In The Case Of Aak South East India Private Limited (“The Assessee”) For The Assessment Year 2018-19, Assessee Preferred This Appeal, With A Delay Of One Day. 2. Assessee Company While Filing The Return Of Income For The Assessment Year 2018-19, By Mistake Failed To Make A Claim In The Column Number 49 Of The Return Of Income, Though Infact There Were Unabsorbed

depreciation of Rs.26,01,14,355/- and brought forward business losses of Rs.155,05,24,343/- as on the date. Because of this lapse on the part of the assessee, the CPC while processing the return of income under section

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

depreciation. The Assessing Officer considered the revised claim of the Assessee under Section 80-IA and determined the amount eligible for deduction under Section 80-IA at Rs. 492,78,60,973/- against the NSL Renewable Power Pvt. Ltd., Hyd. Assessee’s claim of Rs. 546,26,01,224/-. However, the Assessing Officer stated in the assessment order that

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

depreciation. The Assessing Officer considered the revised claim of the Assessee under Section 80-IA and determined the amount eligible for deduction under Section 80-IA at Rs. 492,78,60,973/- against the NSL Renewable Power Pvt. Ltd., Hyd. Assessee’s claim of Rs. 546,26,01,224/-. However, the Assessing Officer stated in the assessment order that

COUNTRY CLUB HOSPITALITY & HOLIDAYS LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, the appeal filed by the assessee is partly allowed

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

M/S. COUNTRY CLUB INDIA LTD.,,HYDERABAD vs. ACIT, CIRCLE-1(2), HYDERABAD

In the result, the grounds of the appeal of the assessee on this issue are allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2009-10 M/S Country Club Vs. Asst. Cit, Circle-1(2), Hospitality & Holidays Ltd., Hyderabad. (Formerly Known As Country Club India Ltd.,) Hyderabad.

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

DY.CIT, CIR-1(2), HYDERABAD vs. M/S CUNTRY CLUB (I) LIMITED,, HYDERABAD

In the result, the grounds of the appeal of the assessee on this issue are allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2009-10 M/S Country Club Vs. Asst. Cit, Circle-1(2), Hospitality & Holidays Ltd., Hyderabad. (Formerly Known As Country Club India Ltd.,) Hyderabad.

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

M/S COUNTRY CLUB INDIA LIMITED,HYDERABAD vs. DCIT, CIRCLE-3(2), HYDERABAD, HYDERABAD

In the result, the grounds of the appeal of the assessee on this issue are allowed

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmancountry Club Hospitality & Vs Dy. Commissioner Of Income Holidays Ltd (Formerly Tax, Circle 3 (2) Known As Country Club Hyderabad India Ltd) Hyderabad Pan: Aaacc8276B (Appellant) (Respondent)

depreciation and allowances are dealt with in Section 32. Therefore, Parliament has used the expression "any expenditure" in Section 37 to cover both. Therefore, the expression "expenditure" as used in Section 37 may, in the circumstances of a particular case, cover an amount which is really a "loss" even though the said amount has not gone out from the pocket

THE ANDHRA PRADESH STATE CO OPERATIVE BANK LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED,HYDERABAD vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

355 has held that the value of the securities at cost or market value whichever is less should be accepted for income tax even if the banks in their books do not value on that basis. Therefore, it is an accepted proportionate that investments by banks to comply with SLR investments would constitute their stock in trade and depreciation

CDK GLOBAL (INDIA) PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD

Appeal is partly allowed in above terms

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara(Through Video Conference) M/S. Cdk Global (India) Pvt. Ltd., Hyderabad. Pan Aagcr 9879K …..Appellant. Vs. Dy. Commissioner Of Income Tax, Circle 1(2), Hyderabad. …..Respondent. Appellant By : Shri H. Srinivasulu. (A.R.) Respondent By : Shri Ashok Kardam. (D.R.) Date Of Hearing : 30.09.2021. Date Of Pronouncement : 28.10.2021. O R D E R Per Shri S.S. Godara, J.M. : This Assessee’S Appeal For Asst. Year 2015-16 Arises From The Commissioner Of Income Tax (Appeals)-1, Hyderabad’S Order Dt.12.07.2019 Passed In Case No.10072/2018-19/Dcit 1(2)/Cit(A)-1/Hyd / 2019-20 In 2 Proceedings Under Section 143(3) Of Income Tax Act, 1961 (‘The Act’).

Section 143(3) of Income Tax Act, 1961 (‘the Act’). Heard both the parties. Case file perused. 2. Coming to the assessee's first and foremost six substantive grounds seeking to challenge correctness of both the lower authorities’ action disallowance depreciation on goodwill involving an amount of Rs.202,51,54,355

KAMINENI HEALTH SERVICES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD

In the result, appeal filed by the assessee is partly allowed

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2013-14 Kamineni Health Services Vs. Dy. C. I. T. (P) Ltd, Hyderabad Circle 2(1) Pan:Aaack8313R Hyderabad (Appellant) (Respondent) Assessee By: Advocate Sashank Dundu Revenue By: Shri Kumar Aditya, Dr Date Of Hearing: 22/02/2023 Date Of Pronouncement: 31/03/2023 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 7Th Nov.2017 Of The Learned Cit (A)-2, Hyderabad Relating To A.Y.2013-14. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Healthcare. It Filed Its Return Of Income For The Impugned A.Y Declaring Nil Income After Setting Off Of Business Loss Of Rs.48,33,667/- Under The Normal Provision & Book Profits U/S 115Jb Amounting To Rs. 1,38,45,489/-. The Case Was Selected For Scrutiny Through Cass & Statutory Notices U/S 143(2) & 142(1) Were Issued To The Assessee To Page 1 Of 16

section 43A of the Act, these amounts are to be added in the cost of acquisition of the asset for the purpose of depreciation for the A.Ys concerned. We, therefore, answer question No.2 in the negative, i.e. in favour of the assessee and against the Revenue”. 8.4 Respectfully following the above decision, we hold that the loss on foreign exchange

DY. COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), HYDERABAD vs. UNION BANK OF INDIA, HYDERABAD

In the result, the appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.1018/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Andhra Bank Vs. Dy. C. I. T. Hyderabad Circle 1(1) Pan:Aabca7375C Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.1230/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13 ) Dy. C. I. T. Vs. Andhra Bank Circle 1(1) Hyderabad Hyderabad Pan:Aabca7375C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ananthan, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 02/07/2024 घोषणा की तारीख/Pronouncement: 28/08/2024 आदेश/Order Per Manjunatha, G. A.M These Cross Appeals Filed By The Assessee, As Well As The Revenue, Are Directed Against The Order Dated 16/02/2016 Of Page 1 Of 59

section, then the assessee can very well claim deduction for reversal of interest as provision for bad and doubtful debts. But facts are not clear and needs to be verified. Therefore, we set aside the alternative claim of the assessee to the file of the Assessing Officer and direct the Assessing Officer to verify the claim of the assessee