MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeal of assessee in ITA No

disallowance of claim of deduction of expenditure against\nthe unaccounted cash receipts from sale of spent solvents / scrap.\nThe facts with regard to the impugned dispute are that the assessee\nis engaged in the manufacturing and sale of bulk drugs. In the\nprocess, the assessee purchased various solvents and used them for\nmanufacturing bulk drugs. The used solvents

ACIT., CENTRAL CIRCLE-2(4), , HYDERABAD vs. M/S. MAITHRI LABORATORIES PRIVATE LIMITED, HYDERABAD

In the result, both the appeals of assessee and the Revenue\nare partly allowed

disallowance of claim of deduction of\nexpenditure against the unaccounted cash receipts from sale of\nspent solvents / scrap. The facts with regard to the impugned\ndispute are that the assessee is engaged in the manufacturing and\nsale of bulk drugs. In the process, the assessee purchased various\nsolvents and used them for manufacturing bulk drugs. The used\nsolvents

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

section 2(22)(e) would not arise. Similarly, Hon'ble Calcutta High Court in the case of CIT Vs. Gayatri Chakraborti [2018] 407 ITR 730 (Calcutta) (Pg No.102-104 of PB-I) held that the transactions between the shareholder and the company were in the nature of current account and the provisions of section 2(22)(e) would not be applicable

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. MSN PHARMACHEM PVT. LTD., HYDERABAD

In the result, the appeal of assessee in ITA No

disallowance of claim of deduction of expenditure against\nthe unaccounted cash receipts from sale of spent solvents / scrap.\nThe facts with regard to the impugned dispute are that the assessee\nis engaged in the manufacturing and sale of bulk drugs. In the\nprocess, the assessee purchased various solvents and used them for\nmanufacturing bulk drugs. The used solvents

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. M/S. MSN LIFE SCIENCES PVT. LTD., HYDERABAD

disallowance of claim of deduction of expenditure against\nthe unaccounted cash receipts from sale of spent solvents / scrap.\nThe facts with regard to the impugned dispute are that the assessee\nis engaged in the manufacturing and sale of bulk drugs. In the\nprocess, the assessee purchased various solvents and used them for\nmanufacturing bulk drugs. The used solvents

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeal of assessee in ITA No

disallowance of claim of deduction of expenditure against\nthe unaccounted cash receipts from sale of spent solvents / scrap.\nThe facts with regard to the impugned dispute are that the assessee\nis engaged in the manufacturing and sale of bulk drugs. In the\nprocess, the assessee purchased various solvents and used them for\nmanufacturing bulk drugs. The used solvents

MSN LIFE SCIENCES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, the appeal of assessee in ITA No

disallowance of claim of deduction of expenditure against the unaccounted cash receipts from sale of spent solvents / scrap. The facts with regard to the impugned dispute are that the assessee is engaged in the manufacturing and sale of bulk drugs. In the process, the assessee purchased various solvents and used them for manufacturing bulk drugs. The used solvents

MAITHRI LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

disallowance of claim of deduction of\nexpenditure against the unaccounted cash receipts from sale of\nspent solvents / scrap. The facts with regard to the impugned\ndispute are that the assessee is engaged in the manufacturing and\nsale of bulk drugs. In the process, the assessee purchased various\nsolvents and used them for manufacturing bulk drugs. The used\nsolvents