DY.COMMISSIONER OF INCOME TAX, CIRCLE-16(1), HYDERABAD vs. LABZONE ELECTRONICS CITY PRIVATE LIMITED (FORMERLY KNOWN AS M/S ALEXANDRIA LABSPACE ELECTRONICS CITY PRIVATE LIMITED), HYDERABAD
Appeal is partly allowed for statistical purposes in above terms
ITA 1489/HYD/2019[2013-14]Status: DisposedITAT Hyderabad23 Feb 2022AY 2013-14
Bench: Shri S.S. Godara & Shri Inturi Rama Raoassessment Year: 2013-14 The Deputy Commissioner Vs. M/S. Labzone Electronics Of Income Tax, City Private Limited Circle 16(1), (Formerly Known As M/S. Hyderabad. Alexandria Labspace Electronics City Private Limited), Hyderabad. Pan :Aajca1470G. (Appellant) (Respondent) Assessee By: Shri P.V.S.S. Prasad. Revenue By: Shri Yvst Sai. Date Of Hearing: 14.02.2022 Date Of Pronouncement: 23.02.2022 O R D E R Per S. S. Godara, J.M. This Revenue’S Appeal For A.Y. 2013-14 Arises From The Commissioner Of Income Tax (Appeals) – 4, Hyderabad’S Order Dated 17.07.2019 In Case No.10331/17-18/Dcit, Cir.1(1)/Cit(A)-4/Hyd/19-20, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 [In Short, ‘The Act’]. Heard Both The Parties. Case File Perused. 2. The Revenue’S Sole Substantive Grievance Raised In The Instant Appeal Challenges Correctness Of The Cit(A)’S Action Deleting Section 94A(4) Addition Of Rs.18,86,00,000/- Made In The Course Of Assessment Framed On 29.12.2016. The Cit(A)’S Lower Appellate Detailed Discussion To This Effect Reads As Follows :-
For Appellant: Shri P.V.S.S. PrasadFor Respondent: Shri YVST Sai
Section 143(3)Section 94ASection 94A(4)
section (2)], 92CA, 92CB, 92D, 92E and 92F shall apply accordingly.
(3) Notwithstanding anything to the contrary contained in this Act, no deduction,—
(a) in respect of any payment made to any financial institution located in a notified jurisdictional area shall be allowed under this Act, unless the assessee furnishes an authorisation in the prescribed form authorising the Board
