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)

Section 40(a)(ia) of the Act, for non-deduction of TDS. Therefore, once again disallowed separately, amounting to double addition. Therefore, he submitted that, the addition made by the A.O. should be deleted. 25. The learned Senior A.R. for the Revenue, on the other hand, supporting the order of the Ld. CIT(A) submitted that, during the course

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

disallowance under section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains, the grievance

CHINTALAPATI HOLDINGS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

disallowance under section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains, the grievance

CHINTALAPATI HOLDINGS PVT.LTD., HYD,HYDERABAD vs. DCIT, CENTRAL CIRCLE-1(2), HYD, HYDERABAD

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

disallowance under section 14A of the Act read with rule 8D of the Rules shall not exceed the exempt Page 10 of 22 ITA No. 385 & 386/Hyd/2015 income earned during the year under consideration. These grounds are accordingly treated as allowed for statistical purposes. 23. Next coming to the addition on account of long term capital gains, the grievance

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR 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

disallowed the interest debited under finance charges and carried forward to work-in-progress amounting to Rs.4,16,72,042/- under Section 36(1)(iii) of the Income Tax Act, 1961. 26

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR 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

disallowed the interest debited under finance charges and carried forward to work-in-progress amounting to Rs.4,16,72,042/- under Section 36(1)(iii) of the Income Tax Act, 1961. 26

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR 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

disallowed the interest debited under finance charges and carried forward to work-in-progress amounting to Rs.4,16,72,042/- under Section 36(1)(iii) of the Income Tax Act, 1961. 26

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR 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

disallowed the interest debited under finance charges and carried forward to work-in-progress amounting to Rs.4,16,72,042/- under Section 36(1)(iii) of the Income Tax Act, 1961. 26

KASUSALYA AVENUES PRIVATE LIMITED ,KARIMNAGAR 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

disallowed the interest debited under finance charges and carried forward to work-in-progress amounting to Rs.4,16,72,042/- under Section 36(1)(iii) of the Income Tax Act, 1961. 26

SRI RAMA AGRI GENETICS (INDIA) PRIVATE LIMITED,KURNOOL vs. DCIT., CIRCLE-1, KURNOOL

In the result, the appeal of the assessee is partly allowed

disallowance, contending that, the advances given to M/s. Sri Rama Agri Cold Storage India Pvt. Ltd. were in the nature of a running account in the ordinary course of business and therefore the provisions of Section 36(1)(iii) of the Act were not attracted. 26

ASIAN INSTITUTE OF GASTROENTEROLOGY PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, appeals filed by the assessee for both the assessment years 2020-2021 and 2021-2022 are allowed

Bench: Shri Manjunatha G & Shri Ravish Sood

disallowance under section 14A read with Rule 8D of I.T. Rules. Therefore, we cannot uphold the reasons given by the learned PCIT to set-aside the assessment order passed by the Assessing Officer for both the assessment years. 11. The assessee has relied upon the decision of Hon’ble Supreme Court in the case of Malabar Industrial Company Limited

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly

SUSHEE INFRA & MINING LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly

SUSHEE INFRA & MINING LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly

SUSHEE INFRA & MINING LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly

SUSHEE INFRA & MINING LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE2-(2), HYDERABAD vs. SUSHEE INFRA & MINING LIMITED, HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly

SUSHEE INFRA & MINING LIMITED,HYDERABAD vs. DCIT, CIRCLE -2(2), HYDERABAD

In the result, appeal of the assessee in ITA No

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं निर्धारण वर्ा अपीलधर्थी प्रत्‍यर्थी / Ita No. / A.Y. / Appellant / Respondent

sections 32, 40(a)(ia), 40A(3), 43B etc. of the Act and other specific disallowances, related to the business activity against which the Chapter Vl-A deduction has been claimed, result in enhancement of the profits of the eligible business, and that deduction under Chapter, VI-A is admissible on the profits so enhanced by the disallowance. 4. Accordingly