DY.CIT, CIRCLE-3(3),, HYDERABAD vs. M/S VISAKA INDUSTRIES LIMITED,, SECUNDERABAD
In the result, appeal of the assessee is dismissed
ITA 860/HYD/2014[2006-07]Status: DisposedITAT Hyderabad27 Jul 2018AY 2006-07
Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2006-07 Dy. Commissioner Of Income- Vs. M/S Visaka Industries Ltd., Tax, Circle – 3(3), Hyderabad. Secunderabad. Pan – Aaacv 7263 K (Appellant) (Respondent) Assessment Year: 2006-07 M/S Visaka Industries Ltd., Vs. Dy. Commissioner Of Income- Secunderabad. Tax, Circle – 3(3), Hyderabad. Pan – Aaacv 7263 K (Appellant) (Respondent)
For Appellant: Shri M.V, AnilkumarFor Respondent: Shri M. Naveen
Section 143(3)Section 147Section 148Section 80GSection 80ISection 80l
80G
2,08,094
Eligible profits for deduction u/s 80IB
5,79,10,397
Accordingly, he noted that the deduction allowable is 30% of eligible profits which is worked out at Rs. 1,73,73,119/- (30% of 5,79,10,397), hence, the excess claim of deduction u/s 80IB of Rs. 85,79,135/- was disallowed
