DAKSHIN INFRASTRCTURES PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD
In the result, the appeal filed by the assessee is allowed
ITA 651/HYD/2020[2012-13]Status: DisposedITAT Hyderabad04 Sept 2024AY 2012-13
Bench: Shri Laliet Kumar, Hon’Ble & Shri Manjunatha G, Hon’Bleassessment Year: 2012-13 Dakshin Infrastructures Pvt. Ltd. Vs. The Deputy Commissioner Of Hyderabad. Income Tax, Central Circle – 2(3), Pan – Aaccd4138P Hyderabad. (Appellant / Assessee) (Respondent) Assessee By: Shri S. Rama Rao, Advocate Revenue By: Ms. Reema Yadav, Sr.Ar. Date Of Hearing: 31.07.2024 Date Of Pronouncement: 04.09.2024
For Appellant: Shri S. Rama Rao, AdvocateFor Respondent: Ms. Reema Yadav, Sr.AR
Section 132Section 143(3)Section 14ASection 153ASection 36(1)(iii)
disallowed the interest debited under finance charges and carried forward to work-in-progress amounting to Rs.1,91,95,429/- under Section 36(1)(iii) of the Income
Tax Act, 1961. 7. The assessee carried the matter in appeal before the ld.
CIT(A). Before the ld. CIT(A), the assessee submitted that the interest paid on customers' advance
