AGILA SPECIALTIES PRIVATE LIMITED(NOW MERGED WITH MYLAN LABORATORIES LIMITED),HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(2), HYDERABAD

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamonyassessment Year: 2012-13 Agila Specialities Private Vs. Acit, Limited, Circle-16(2), (Now Merged With Mylan 2Nd Floor, B-Block, Laboratories Limited) Income Tax Towers, Plot No. 564/A/22, Road Masabtank, No. 92, Jubilee Hills, Hyderabad – 004. Hyderabad, Telangana-34. Pan: Aaacq 1091 Q (Appellant) (Respondent) Assessee By: Sri Sharath Rao Revenue By: Smt. Nivedita Biswas-Dr Date Of Hearing: 03/09/2019 Date Of Pronouncement: 30/10/2019 Order Per A. Mohan Alankamony, Am.:

disallowance U/s. 14A of the Act will not arise. However, in the instant case of the assessee, since we have already deleted the addition made U/s. 14A, increasing the book profit will not arise. Further the decision of Hon'ble Apex Court cited by the assessee in the case Apollo Tyres Ltd. v. CIT [2002] 255 ITR 273/122 Taxman

DY. COMMISSIONER OF INCOME TAX , CIRCLE-3(2), HYDERABAD vs. STAR FEATURES INTERNATIONAL PRIVATE LIMITED , HYDERABAD

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

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2009-10 Dcit, Vs. Star Features Circle-3(2), International Private Hyderabad. Limited, Hyderabad. Pan: Aaccp 3799 G (Appellant) (Respondent) Assessee By: Sri M.V. Anil Kumar Revenue By: Sri T. Sunil Goutam, Sr. Ar Date Of Hearing: 01/12/2021 Date Of Pronouncement: 01/02/2022 Order Per A. Mohan Alankamony, Am.:

disallowance of expenditure incurred on account of premium paid for buy-back of shares on the ground that the Assessing Officer does not have the jurisdiction to go behind the net profit shown in the P & L Account except to the explanation to section 115J

SECUNDERABAD HOTELS PRIVATE LIMITED ,SECUNDERABAD vs. INCOME TAX OFFICER, WARD-3(4), HYDERABAD

In the result, assessee’s appeal is treated as allowed for statistical purposes

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamonyassessment Year: 2013-14

disallowed u/s 14A of the I.T. Act, 1961 cannot be added to arrive at book profit for MAT Calculation u/s 115JB of the Act. Page 2 of 3 ITA No 1770 of 2018 Secunderabad Hotels P Ltd Secunderabad 11) The learned CIT (A) erred in not following decision of the Hon'ble Supreme Court in the case of Apollo Tyres