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

v. CIT; 35 ITR 416, that amount credited in business books can normally be presumed as business receipts. In this case, receipts from Lakshin Infradev were recorded in the books of the appellant. Receipts recorded in the books of accounts were already part of the income which was already credited in P&L account and the records show that goods

THERMODYNE DYNAMICS PRIVATE LIMITED,HYDERABAD vs. INCOME-TAX OFFICER, WARD -17(3), HYDERABAD

Bench: Us :

disallowance u/s 56(2)(viia) of the Act was called for in the case of the assessee company. 21. Apropos the claim of the Ld. AR that as the assessee company had entered into an “agreement”, dated 18.02.2010 for subscription of shares of the aforementioned company, viz. M/s. Kineta Metals and Minerals Limited (supra) which was before the insertion

THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED,HYDERABAD vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

THE ANDHRA PRADESH STATE CO OPERATIVE BANK LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

2)(v) of the Income Tax Act, 1961. 3. Your Appellant submits that provision of section 36(1)(vii) and 36(1)(viia) operate independently subject to the condition that any debts written off in books will be first setoff against any provision under section 36(1)(viia) made and allowed by the Assessing Officer in the earlier assessment years

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

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

v. Abhisar Buildwell, it was argued that no addition could be made under Section 153A in the absence of incriminating material found specifically at the appellant's premises. The ld.AR emphasized that the AO exceeded his jurisdiction by making the addition based on materials unrelated to the satisfaction note and unsupported by direct evidence linking the appellant

BANDI SUDHEER REDDY ,HYDERABAD vs. ACIT, CENTRAL CIRCLE-1(4), HYDERABAD

In the result, all the appeals of the assessees are dismissed

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

disallowance of improvement expenses, thereby assessed the income of the assessee at Rs.44,51,425/- and passed assessment order on 18.02.2022 u/s 153C of the Act. 4. Feeling aggrieved by the order passed by the Assessing Officer, assessee filed appeal before the Ld. CIT(A), who dismissed the appeal of assessee. 5. Feeling aggrieved with the order of ld.CIT

PRAMOD REDDY TEKULA,HYDERABAD vs. ACIT,CENTRAL CIRCLE-1(1), HYDERABAD

In the result, all the appeals of the assessees are dismissed

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

disallowance of improvement expenses, thereby assessed the income of the assessee at Rs.44,51,425/- and passed assessment order on 18.02.2022 u/s 153C of the Act. 4. Feeling aggrieved by the order passed by the Assessing Officer, assessee filed appeal before the Ld. CIT(A), who dismissed the appeal of assessee. 5. Feeling aggrieved with the order of ld.CIT

VENKAT RAJASEKHAR KONERU,HYDERABAD vs. ACIT, CENTRAL CIRCLE-1(1), HYDERABAD

In the result, all the appeals of the assessees are dismissed

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

disallowance of improvement expenses, thereby assessed the income of the assessee at Rs.44,51,425/- and passed assessment order on 18.02.2022 u/s 153C of the Act. 4. Feeling aggrieved by the order passed by the Assessing Officer, assessee filed appeal before the Ld. CIT(A), who dismissed the appeal of assessee. 5. Feeling aggrieved with the order of ld.CIT

UNION BANK OF INDIA (ERSTWHILE-ANDHRA BANK),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

In the result, the appeal of revenue is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

section 36(2)(v) of the Act. Since the assessee has already ITA Nos.193 & 316/Hyd/2019 15 availed benefit u/s 36(1)(viia) for both creation of provision and actual written off of debts, further deduction for a write off non-rural bad debts cannot be accepted and thus, disallowed Rs.329,62,82,921/- towards deduction claimed in respect

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

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

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\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