PATHFINDER PUBLISHING PRIVATE LIMITED,HYDERABAD vs. ACIT., CIRCLE -16(2), HYDERABAD

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2) of section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely:— (A-L) (a) the fair market value of unquoted equity shares = X (PV), (PE) where, A = book value of the assets in the balance

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NCL GREEN HABITATS PRIVATE LIMITED, HYDERABAD

In the result, the appeal of the Revenue is allowed for statistical purposes

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

x) of clause (24) of section 2, if such income is not chargeable to income-tax under the head "Profits and gains of business or profession";] [(id) income by way of interest on securities, if the income is not chargeable to income-tax under the head "Profits and gains of business or profession";] (ii) income from machinery, plant or furniture

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

DCIT, CIRCLE-1(2), HYD, HYDERABAD vs. BHAGYANAGAR INDIA LTD., SEC-BAD, SECUNDERABAD

In the result, appeal of the Revenue is partly allowed for statistical purposes as indicated herein above

Bench: Shri A. Mohan Alankamony & Sri S.S. Godaraa.Y. 2010-11 Dcit, Vs. M/S. Bhagyanagar India Circle-1(2), Ltd., Hyderabad. Secunderabad. Pan: Aaacb 8963 C (Appellant) (Respondent) Assessee By Sri K.C. Devdas Revenue By Sri Rohit Mujumdar, Dr Date Of Hearing: 20/10/2021 Date Of Pronouncement: 16/12/2021 Order

56(2)(x) of the Act also may become redundant in very many deserving situations if the proposition suggested by the Ld. AR is accepted. Needless to mention that the business is carried out by any entity either by utilizing its own capital which is tax paid money of the owner of the entity or out of loan which

SSNC FINTECH SERVICES INDIA PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE 8(1), HYDERABAD

Bench: Shri Manjunatha G & Shri Ravish Sood

56,964 to the total income of the Appellant by holding that the international transaction relating to IT services provided by the Appellant to its associated enterprises ('AEs') is not at arm's length. 2: 2. The Id. AO/TPO/ DRP erred in facts of the case and in law in disregarding the benchmarking analysis and comparable companies selected

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

2 to proviso to sub clause (vii) of section 36(1), the ratio laid down by the Hon'ble Supreme Court holds good, because the Hon'ble Apex Court has clearly explained the law in respect of deduction towards provision for bad & doubtful debts u/s 36(1)(viia) of the Act and deduction towards bad debts written

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

2 to proviso to sub clause (vii) of section 36(1), the ratio laid down by the Hon'ble Supreme Court holds good, because the Hon'ble Apex Court has clearly explained the law in respect of deduction towards provision for bad & doubtful debts u/s 36(1)(viia) of the Act and deduction towards bad debts written

MAHESWARI MINING & ENERGY PRIVATE LIMITED ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Laxmi Prasad Sahu & Shri K. Narasimha Charyassessment Years: 2016-17 Maheswari Mining & Vs. Asst. Commissioner Of Energy Pvt. Ltd., Income-Tax, Hyderabad. Circle – 16(2), Hyderabad. Pan – Aagcm0805N (Appellant) (Respondent) Assessee By: S/Shri Y. Ratnamkar& B. Satyanarayana Murthy Revenue By: Shri Y.V.S.T. Sai Date Of Hearing: 21/04/2022 Date Of Pronouncement: /04/2022

56 -: M/s Maheswari Mining & Energy Pvt. Ltd., Hyderabad. 11. The learned Counsel for the assessee referring to the provisions of section 32AD of the Act submitted that the above provision was inserted by the Finance Act, 2015 w.e.f. A.Y 2016-17 to provide for an additional investment allowance of 15% of the cost of new asset acquired and installed

VIVIMED LABS LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(3), HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

2% of the corporate guarantee given by assessee. In accordance with these findings of the TPO, the final assessment order was passed and the assessee has filed second appeal before the Tribunal. 5.2 The Ld.Counsel for the assessee submitted that though TPO has stated that these are working capital advances given to its subsidiaries, they are not advances

VIVIMED LABS LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX 2(3), HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

2% of the corporate guarantee given by assessee. In accordance with these findings of the TPO, the final assessment order was passed and the assessee has filed second appeal before the Tribunal. 5.2 The Ld.Counsel for the assessee submitted that though TPO has stated that these are working capital advances given to its subsidiaries, they are not advances

VIVIMED LABS LIMITED,HYDERABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX , HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

2% of the corporate guarantee given by assessee. In accordance with these findings of the TPO, the final assessment order was passed and the assessee has filed second appeal before the Tribunal. 5.2 The Ld.Counsel for the assessee submitted that though TPO has stated that these are working capital advances given to its subsidiaries, they are not advances

VIVIMED LABS LIMITED,HYDERABAD vs. 500082 ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(3), HYDERABAD

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

2% of the corporate guarantee given by assessee. In accordance with these findings of the TPO, the final assessment order was passed and the assessee has filed second appeal before the Tribunal. 5.2 The Ld.Counsel for the assessee submitted that though TPO has stated that these are working capital advances given to its subsidiaries, they are not advances

ZUARI CEMENT LIMITED ,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

56,82,000 towards cash discount. Further, the Assessee wishes to submit that the cash discount have been given to the customers to encourage early realization of debt, to improve working capital cycle and to avoid bad debts. Section 37 of the ‘Act inter alia states that “Any expenditure (not being expenditure of the nature described in sections

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

56,82,000 towards cash discount. Further, the Assessee wishes to submit that the cash discount have been given to the customers to encourage early realization of debt, to improve working capital cycle and to avoid bad debts. Section 37 of the ‘Act inter alia states that “Any expenditure (not being expenditure of the nature described in sections

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

56,82,000 towards cash discount. Further, the Assessee wishes to submit that the cash discount have been given to the customers to encourage early realization of debt, to improve working capital cycle and to avoid bad debts. Section 37 of the ‘Act inter alia states that “Any expenditure (not being expenditure of the nature described in sections

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

56,82,000 towards cash discount. Further, the Assessee wishes to submit that the cash discount have been given to the customers to encourage early realization of debt, to improve working capital cycle and to avoid bad debts. Section 37 of the ‘Act inter alia states that “Any expenditure (not being expenditure of the nature described in sections

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

56,82,000 towards cash discount. Further, the Assessee wishes to submit that the cash discount have been given to the customers to encourage early realization of debt, to improve working capital cycle and to avoid bad debts. Section 37 of the ‘Act inter alia states that “Any expenditure (not being expenditure of the nature described in sections

LYCOS INTERNET LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD

Bench: Shri Vijay Pal Rao, Vice- & Shri Madhusudan Sawdia

56,740/-. 3. The CIT(A) erred in ignoring CBDT's Circular No.5 of 2014 dated 11.02.2014. 4. The CIT(A) erred in ignoring the Supreme Court decision in the case of CIT Vs Walfort Share of Stock Brokers Pvt Ltd (326 ITR 1), wherein it was held that the mandate of section 14A was to curb the practice

GMR AIR CARGO & AEROSPACE ENGINEERING LTD(SUCCESSOR TO GMR HYDERABAD AIR CARGO & LOGISTICS PVT LTD),SHAMSHABAD vs. INCOME TAX OFFICER, WARD-2(3) , HYDERABAD

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

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2008-09 Gmr Air Cargo & Vs. Ito,Ward-2(3) Aerospace Engineering Signature Towers Ltd.(Successor To Gmr Kondapur, Kothaguda Hyderabad Air Cargo & Opp. Botanical Gardens Logistics Pvt Ltd.) R.R.District Rajiv Gandhi International Hyderabad-500 084 Airport, Samshabad Hyderabad-500 409

section 148 of the Income tax Act. No interference of this Court is called for in exercise of powers under article 136 of the Constitution of India. 2. With this, the Special Leave petition stands dismissed. of. 3. Pending application(s), if any, shall stand disposed of.” 12. Referring to the following decisions, he submitted that no notice