INDUR DEVELOPERS AND AGENCIES PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

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

Section 14A of the Act. 4. The assessee carried the matter in appeal before the ld.CIT(A). The ld.CIT(A) for the reasons stated in their order dated 18-09-2020, partly allowed the appeal filed by the assessee, where he had confirmed the addition made towards disallowance of finance cost to an extent of 15,78,237

INDUR AVENUES AND FOODS PRIVATE LIMITED,NIZAMABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

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

Section 14A of the Act. 4. The assessee carried the matter in appeal before the ld.CIT(A). The ld.CIT(A) for the reasons stated in their order dated 18-09-2020, partly allowed the appeal filed by the assessee, where he had confirmed the addition made towards disallowance of finance cost to an extent of 15,78,237

INDUR AVENUES AND FOODS PRIVATE LIMITED,NIZAMABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

In the result, the appeal filed by the assessee is allowed

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

Section 14A of the Act. 4. The assessee carried the matter in appeal before the ld.CIT(A). The ld.CIT(A) for the reasons stated in their order dated 18-09-2020, partly allowed the appeal filed by the assessee, where he had confirmed the addition made towards disallowance of finance cost to an extent of 15,78,237

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(2), HYDERABAD vs. MYLAN LABORATORIES LIMITED , HYDERABAD

In the result, appeal of the assessee is partly allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

disallow the claim of depreciation on goodwill. The Tribunal had considered the judgment of the Hon’ble Supreme Court in the case of Smiffs Securities Ltd. and has held that the Hon’ble Supreme Court has only held that goodwill is an intangible asset and that depreciation is allowable thereon, but, that it does override the provisions of 5th Proviso

MYLAN LABORATORIES LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(2), HYDERABAD

In the result, appeal of the assessee is partly allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

disallow the claim of depreciation on goodwill. The Tribunal had considered the judgment of the Hon’ble Supreme Court in the case of Smiffs Securities Ltd. and has held that the Hon’ble Supreme Court has only held that goodwill is an intangible asset and that depreciation is allowable thereon, but, that it does override the provisions of 5th Proviso

KAPIL INFRA AVENUES PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

KAUSALYA AGRO FORMS & DEVELOPERS PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

UJWALA PUBLICATIONS AND DEVELOPERS PRIVATE LIMITED ,WARANGAL vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

KAUSALYA MANAGEMENT SERVICES AND STRUCTURE PRIVATE LIMITED,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

KAUSALYA AGRO FORMS & DEVELOPERS PRIVATE LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

PREETHI FOODS AND VILLAS PRIVATE LIMITED ,KHAMMAM vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

KAPIL FOOD AND STRUCTURE PRIVATE LIMITED ,WARANGAL vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

KASUSALYA SHELTERS PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

KAUSALYA MANAGEMENT SERVICES AND STRUCTURE PRIVATE LIMITED ,KARIMNAGAR vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

PREETHI FOODS AND VILLAS PRIVATE LIMITED ,KHAMMAM vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

INDUR DEVELOPERS AND AGENCIES PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

INDUR DEVELOPERS AND AGENCIES PRIVATE LIMITED ,VIJAYAWADA vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(3), HYDERABAD

Bench: Shri A. Mohan Alankamony & Shri S.S. Godara

section 147 proceedings and finance cost disallowance of Rs.15,78,237/-; respectively. Suffice to say, we make it clear that

DELOITTE & TOUCHE ASSURANCE & ENTERPRISE RISK SERVICES INDIA PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE-8(1), HYDERABAD

In the result, both the appeals are allowed

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdia

disallowed and added back in terms of Explanation 2 to Section 37(1) of the Act. The company can claim deduction for hundred percent of the donation of Rs. 1 crores paid to Prime Minister's National Relief Fund u/s 80G(2)(iiia) read with Section 80G(1)(i) of the Act. The company claim deduction to the extent