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

2)(iiihk) and (iiihl) of the Act. (para 16) We are in agreement with such observations and findings of the Coordinate Bench of the Tribunal and while respectfully following the same, we hold that inasmuch as the assessee satisfied the conditions of section 80G of the Act, the assessee is entitled to claim deduction under section

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

disallowance\nof any part of the interest expenditure under section 14A r.w Rule 8D(2)\nwas liable to be made in its hands. It was observed that if there be\ninterest free funds available with an assessee sufficient to meet its\ninvestments, and at the same time the assessee has raised an interest\nfree loan, it can be presumed that

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

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

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

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

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

section 56(2)(viib), being\na venture capital undertaking, in respect of consideration\nreceived for issue of CCPS from a Venture capital\ncompany/fund, as per the first proviso thereunder.\n8) On the facts and circumstances of the case and in law, the\nLd. CIT(Appeals) erred in not holding that the provisions of\nsection 56(2)(viib) are applicable

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

In the result, all the three appeals of the Assessee\nare partly allowed

section 56(2)(viib), being\na venture capital undertaking, in respect of consideration\nreceived for issue of CCPS from a Venture capital\ncompany/fund, as per the first proviso thereunder.\n8) On the facts and circumstances of the case and in law, the\nLd. CIT(Appeals) erred in not holding that the provisions of\nsection 56(2)(viib) are applicable

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

section 56(2)(viib), being\na venture capital undertaking, in respect of consideration\nreceived for issue of CCPS from a Venture capital\ncompany/fund, as per the first proviso thereunder.\n8) On the facts and circumstances of the case and in law, the\nLd. CIT(Appeals) erred in not holding that the provisions of\nsection 56(2)(viib) are applicable

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)

2,91,30,153/- @ 30% of Rs. 9,71,00,510/- towards various expenditure incurred for subcontract payments, freight and forwarding charges, machinery hire charges, and audit fee. The A.O. has disallowed 30% of Rs. 18,24,848/-, being subcontract payments made to Bathini Infra on the ground that, the assessee has not deducted TDS on the said payment. Similarly

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)

2,91,30,153/- @ 30% of Rs. 9,71,00,510/- towards various expenditure incurred for subcontract payments, freight and forwarding charges, machinery hire charges, and audit fee. The A.O. has disallowed 30% of Rs. 18,24,848/-, being subcontract payments made to Bathini Infra on the ground that, the assessee has not deducted TDS on the said payment. Similarly

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)

2,91,30,153/- @ 30% of Rs. 9,71,00,510/- towards various expenditure incurred for subcontract payments, freight and forwarding charges, machinery hire charges, and audit fee. The A.O. has disallowed 30% of Rs. 18,24,848/-, being subcontract payments made to Bathini Infra on the ground that, the assessee has not deducted TDS on the said payment. Similarly

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

71,200/-. Subsequently, the assessee filed revised ROI on 17.03.2017 admitting total income at Rs.1828,23,32,080/-. The Learned Assessing Officer (“Ld. AO”) completed the assessment u/s.143(3) of the Income Tax Act, 1961 (“the Act”) on 30.12.2017 by making addition of Rs.1485,43,30,689/- towards provision for bad and doubtful debts u/s. 36(1)(viia

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

Appeal are dismissed

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

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

Appeal are dismissed

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

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

DCIT, CIRCLE-13(1), HYDERABAD vs. THE SINGARENI COLLIERIES COMPANY LIMITED, KOTHAGUDEM

71,03,671/- under section 40A(9) of the Income Tax Act, 1961.\n5. Your Appellant submits that the CIT(A) as well as the Assessing Officer disallowed\ninvestment allowance under section 32AC of Rs.272,15,43,386/- on assumption that\nelectricity is not an article or thing and also ignored the bills and certificates in support\nof acquisition