ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

10,11,500/-; (ii). disallowance of the claim of the assessee company for deduction under section 80G in respect of donations forming part of CSR expenditure, holding that CSR expenditure being mandatory in nature could not qualify for deduction under section 80G except in cases specifically provided: Rs. 1,85,88,450/-; (iii). an estimated disallowance

SANGHI INDUSTRIES LIMITED,HYDERABAD vs. DCIT, CIRCLE -3 (1), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

Disallowance of CSR expenses of Rs. 1,42,97,133/- against the returned income of Rs. 50,81,16,931/-. 2.1 Feeling aggrieved, the assessee raised certain objections before the Ld. DRP. The Ld. DRP, after considering the submissions of the assessee and also going through the material available on record, dismissed the objections raised by the assessee. Thereafter

JASPER INDUSTRIES PVT LTD,HYDERABAD vs. DCIT., CIRCLE-2(1), HYDERABAD

In the result, the appeal of the assessee is partly allowed

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

disallowance under Section 14A, even though no income exempt under Section 10(34) or Section 10(38) was claimed as exempt

PRASAD FILM LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CIRCLE-6(1), HYDERABAD

In the result appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

34) of the Income Tax Act, 1961 [in short “the Act”]. The Assessing Officer further noted that, assessee has made suo motu disallowance of expenditure of Rs.5,000/- u/sec.14A of the Income Tax Act, 1961. The Assessing Officer, called-upon the assessee to explain as to why disallowance contemplated u/sec.14A of the Act shall not be disallowed by invoking Rule

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

10,115,000 was added to the total income of the\nassessee.\n3.1 According to the newly inserted explanation to section 14A,\nnotwithstanding anything to the contrary contained in the act, the\nprovisions of section 14A shall apply and shall be deemed to have\nalways applied in a case where the income not forming part of the\ntotal income

MADHUSUDHAN JAJU,HYDERABAD vs. INCOME TAX OFFICER, WARD-1, SANGAREDDY

In the result, the C.O. of the Revenue is allowed for statistical\npurposes

34,000/-.\n7.3 In the result, the first issue of the assessee is allowed.\n8.\nWith regard to second issue, related to cost of improvement of\nRs.7,50,000/-, the Ld. AR submitted that, the assessee has incurred\ncost of Rs.2.50 lakhs; Rs.2 lakhs; Rs.2 lakhs and Rs.1 lakh during the\nF.Ys

BHUPAL INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

In the result, the appeal of the assessee for A

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON'BLE (Accountant Member)

10,00,000/- shown as cash payment for purchase of new vehicles. Even though the above expenditure is capital in nature, the A.O. made addition u/s 69C of the Act. Therefore, he submitted that, the addition made by the A.O. should be deleted. 29. The Learned Senior A.R. for the Revenue, on the other hand, supporting the order

BHUPAL INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-1(2), HYDERABAD

In the result, the appeal of the assessee for A

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

10,00,000/- shown as cash payment for purchase of new vehicles. Even though the above expenditure is capital in nature, the A.O. made addition u/s 69C of the Act. Therefore, he submitted that, the addition made by the A.O. should be deleted. 29. The Learned Senior A.R. for the Revenue, on the other hand, supporting the order

BHUPAL INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE -1(2), HYDERABAD

In the result, the appeal of the assessee for A

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

10,00,000/- shown as cash payment for purchase of new vehicles. Even though the above expenditure is capital in nature, the A.O. made addition u/s 69C of the Act. Therefore, he submitted that, the addition made by the A.O. should be deleted. 29. The Learned Senior A.R. for the Revenue, on the other hand, supporting the order

MYLAN LABORATORIES LIMITED,HYDERABAD vs. ACIT, CIRCLE-5(1), HYDERABAD

In the result. appeal of the Assessee is partly\nallowed for statistical purposes and appeal of Revenue is\npartly allowed for statistical purposes

disallowances under Section 14A.", "result": "Partly Allowed", "sections": [ "92CA", "35(2AB)", "14A", "Rule 8D", "115JB", "10(34)", "32", "Section 143(3)", "Section

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

10/- per share, and seems to have based the computation of capital gains on the statement of Mr. Raghurama Krishna Raju, we are of the considered opinion that the ends of justice would be met by directing the learned Assessing Officer to furnish a copy of the statement of Mr. Raghurama Krishna Raju to the Page

CHINTALAPATI HOLDINGS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

10/- per share, and seems to have based the computation of capital gains on the statement of Mr. Raghurama Krishna Raju, we are of the considered opinion that the ends of justice would be met by directing the learned Assessing Officer to furnish a copy of the statement of Mr. Raghurama Krishna Raju to the Page

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

10/- per share, and seems to have based the computation of capital gains on the statement of Mr. Raghurama Krishna Raju, we are of the considered opinion that the ends of justice would be met by directing the learned Assessing Officer to furnish a copy of the statement of Mr. Raghurama Krishna Raju to the Page

ACIT., CIRCLE-5(1), HYDERABAD vs. MYLAN LABORATORIES LIMITED, HYDERABAD

In the result. appeal of the Assessee is partly allowed for statistical purposes and appeal of Revenue is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

disallowance of weighted deduction of expenditure incurred for scientific and research amounting to Rs.19,10,91,910/- under section 35(2AB)of the Act. 34

ASIAN INSTITUTE OF GASTROENTEROLOGY PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, appeals filed by the assessee for\nboth the

34) and 10(38) of the Income Tax Act, 1961. Once\nthere is no exemption of any income, then, expenses\nrelatable to said income should be allowed in total. The\nlearned PCIT, without appreciating these facts, has simply\nset-aside the assessment order passed by the Assessing\nOfficer on the issue of disallowance under section

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

34. The solitary issue that came up for our consideration in Ground Nos.2 to 4 of the assessee's appeal is the disallowance of finance charges of Rs.95,48,200/- confirmed by the ld.CIT(A) under Section 36(1)(iii) of the Income Tax Act, 1961. During the course of the assessment proceedings, the AO noticed that the real estate

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

34. The solitary issue that came up for our consideration in Ground Nos.2 to 4 of the assessee's appeal is the disallowance of finance charges of Rs.95,48,200/- confirmed by the ld.CIT(A) under Section 36(1)(iii) of the Income Tax Act, 1961. During the course of the assessment proceedings, the AO noticed that the real estate

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

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

Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Ble

34. The solitary issue that came up for our consideration in Ground Nos.2 to 4 of the assessee's appeal is the disallowance of finance charges of Rs.95,48,200/- confirmed by the ld.CIT(A) under Section 36(1)(iii) of the Income Tax Act, 1961. During the course of the assessment proceedings, the AO noticed that the real estate