DY.CIT, CIR-1(2), HYDERABAD vs. M/S CUNTRY CLUB (I) LIMITED,, HYDERABAD

In the result, the grounds of the appeal of the assessee on this issue are allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2009-10 M/S Country Club Vs. Asst. Cit, Circle-1(2), Hospitality & Holidays Ltd., Hyderabad. (Formerly Known As Country Club India Ltd.,) Hyderabad.

1)(a) on 23.3.1999. On 16.8.1999 a notice under Section 143(2) was issued to the assessee stating that in the course of assessment proceedings under Section 143 it was noticed by the Department that the assessee had debited to its Profit & Loss Account a sum of Rs. 41,06,746.00 out of which a sum of Rs.29

M/S COUNTRY CLUB INDIA LIMITED,HYDERABAD vs. DCIT, CIRCLE-3(2), HYDERABAD, HYDERABAD

In the result, the grounds of the appeal of the assessee on this issue are allowed

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmancountry Club Hospitality & Vs Dy. Commissioner Of Income Holidays Ltd (Formerly Tax, Circle 3 (2) Known As Country Club Hyderabad India Ltd) Hyderabad Pan: Aaacc8276B (Appellant) (Respondent)

1)(a) on 23.3.1999. On 16.8.1999 a notice under Section 143(2) was issued to the assessee stating that in the course of assessment proceedings under Section 143 it was noticed by the Department that the assessee had debited to its Profit & Loss Account a sum of Rs. 41,06,746.00 out of which a sum of Rs.29

GMR HOSPITALITY AND RETAIL LIMITED (SUCCESSOR TO HYDERABAD DUTY FREE RETAIL LIMITED),HYDERABAD vs. INCOME TAX OFFICER, WARD-2(2), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraa.Y. 2016-17 Gmr Hospitality & Retail Vs. Income Tax Officer, Limited (Successor Of Ward-2(2), Hyderabad Duty Free Retail Hyderabad. Limited), Hyderabad. Pan: Aadcg 2928 F (Appellant) (Respondent) Assessee By Shri Sunil Jain, Ar Revenue By Smt. M. Narmada, Dr Date Of Hearing: 02/09/2021 Date Of Pronouncement: 16/09/2021 Order

disallowed the deduction/debit. This fact is important. It indicates the double standards adopted by the Department. 11. The dispute in this batch of civil appeals centers around the year(s) in which deduction would be admissible for the increased liability under section 37(1). 12. We quote hereinbelow section 28(i), section 29, section 37(1) and section

INCOME TAX OFFICER, WARD-1(3), HYDERABAD vs. BHAGYANAGAR INDIA LIMITED , SECUNDERABAD

In the result, the appeal of the Revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1200/Hyd/2019 (निर्धारण वर्ा/Assessment Year:2016-17) Income Tax Officer, M/S. Bhagyanagar India Ward-1(3), Hyderabad. Vs. Limited, Hyderabad. Pan:Aaacb8963C (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri K.C. Devdas, C.A. रधजस् व द्वधरध/Revenue By: Shri Narender Kumar Naik, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 24/07/2025 घोर्णध की तधरीख/Pronouncement: 08/08/2025 आदेश/Order Per Madhusudan Sawdia, A.M. : This Appeal Is Filed By Revenue, Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-1, Hyderabad (“Ld. Cit(A)”), Dated 16.05.2019 For The A.Y. 2016-17. 2. The Revenue Has Raised The Following Grounds Of Appeal:

1) of the Act, disallowance of Rs.6,09,705/- out of miscellaneous expenditure, and a disallowance of Rs.75,59,818/- under Section 14A of the Act. These disallowances led to an addition of Rs.81,96,987/- to the gross total income of Rs.41,59,816/-, thereby computing the gross total income at Rs.1,23,56,803/-. After allowing deduction under

LAMPEX ELECTRONICS LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

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

disallowance of expenditure towards currency fluctuations. 6. Assessee, therefore, filed ITA No. 589/Hyd/2020 in respect of the additions sustained and Revenue filed ITA No. 96/Hyd/2021 in respect of the relief granted to the assessee by the learned CIT(A). Assessee preferred cross objection supporting the view taken by the Learned CIT(A) while granting relief to the assessee. Page

ACIT, CIRCLE-5(1), HYDERABAD vs. LAMPEX ELECTRONICS LIMITED , HYDERABAD

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

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

disallowance of expenditure towards currency fluctuations. 6. Assessee, therefore, filed ITA No. 589/Hyd/2020 in respect of the additions sustained and Revenue filed ITA No. 96/Hyd/2021 in respect of the relief granted to the assessee by the learned CIT(A). Assessee preferred cross objection supporting the view taken by the Learned CIT(A) while granting relief to the assessee. Page

OCEAN SPARKLE LIMITED,HYDERABAD vs. DCIT., CIRCLE 5(1), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

section 43A of the Income Tax Act, 1961. Learned Counsel for the Assessee further referring to the chart submitted by the assessee submitted that, although, the assessee has treated forex gain on account of restatement of liabilities existed as on the balance-sheet date as income or expenses in the books of accounts, but, by following the CBDT Circular 3/2010

DODLA DAIRY LIMITED,HYDERABAD vs. DCIT CIRCLE -8(1), HYDERABAD

Bench: Us:

disallowed the corresponding discounted rate of interest element pertaining to the said loan, which, however, as per the directions of the DRP had already been restricted up to the date of repayment of the said loan. 45 ITA TP 466/Hyd/2022 and 1301/Hyd/2024 Dodla Dairy Limited. 45. The Ld. CIT-DR, on the issue of quantification of claim of deduction

SRI RAMADAS PAPER BOARDS (P) LTD., HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-3(2), HYDERABAD, HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2012-13 Sri Ramadas Paper Boards (P) Vs. Dy. Commissioner Of Income- Ltd., Hyderabad. Tax, Circle – 3(2), Hyderabad. Pan – Aadcs2140M (Appellant) (Respondent)

section states that: - -When an asset was acquired from a foreign country, -Due to change in rate of exchange there is increase or reduction in liability of amount to be paid on asset. -The adjustment to the cost of asset by way of increase or decrease shall be made at the time of making the payment. Assessing Officer as well

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

disallowed the claim of the assessee after relying on the directions of Hon’ble DRP and in addition had denied the claim after relying upon section 43A of the Act. Now, the assessee is in appeal before us. 64. The ld.AR for the assessee had submitted the following written submissions in support of his case reading as under : 49 Zuari

ZUARI CEMENT LIMITED, KADAPA,KADAPA vs. ACIT, CIRCLE-1, KADAPA, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

disallowed the claim of the assessee after relying on the directions of Hon’ble DRP and in addition had denied the claim after relying upon section 43A of the Act. Now, the assessee is in appeal before us. 64. The ld.AR for the assessee had submitted the following written submissions in support of his case reading as under : 49 Zuari

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

disallowed the claim of the assessee after relying on the directions of Hon’ble DRP and in addition had denied the claim after relying upon section 43A of the Act. Now, the assessee is in appeal before us. 64. The ld.AR for the assessee had submitted the following written submissions in support of his case reading as under : 49 Zuari

ZUARI CEMENT LIMITED ,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

disallowed the claim of the assessee after relying on the directions of Hon’ble DRP and in addition had denied the claim after relying upon section 43A of the Act. Now, the assessee is in appeal before us. 64. The ld.AR for the assessee had submitted the following written submissions in support of his case reading as under : 49 Zuari

ZUARI CEMENT LIMITED,KADAPA vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-1, KADAPA

Accordingly, this issue is allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Laxmi Prasad Sahusl.

disallowed the claim of the assessee after relying on the directions of Hon’ble DRP and in addition had denied the claim after relying upon section 43A of the Act. Now, the assessee is in appeal before us. 64. The ld.AR for the assessee had submitted the following written submissions in support of his case reading as under : 49 Zuari

KAMINENI HEALTH SERVICES PRIVATE LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(1), HYDERABAD

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

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2013-14 Kamineni Health Services Vs. Dy. C. I. T. (P) Ltd, Hyderabad Circle 2(1) Pan:Aaack8313R Hyderabad (Appellant) (Respondent) Assessee By: Advocate Sashank Dundu Revenue By: Shri Kumar Aditya, Dr Date Of Hearing: 22/02/2023 Date Of Pronouncement: 31/03/2023 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 7Th Nov.2017 Of The Learned Cit (A)-2, Hyderabad Relating To A.Y.2013-14. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Healthcare. It Filed Its Return Of Income For The Impugned A.Y Declaring Nil Income After Setting Off Of Business Loss Of Rs.48,33,667/- Under The Normal Provision & Book Profits U/S 115Jb Amounting To Rs. 1,38,45,489/-. The Case Was Selected For Scrutiny Through Cass & Statutory Notices U/S 143(2) & 142(1) Were Issued To The Assessee To Page 1 Of 16

1) of section 43 of the Act. This section specially provides for the treatment of increased liability of the assessee as expressed in Indian currency for repayment of the moneys borrowed by him from any person in foreign currency specifically for the purposes of acquiring the asset. In the present case, the assessee had acquired a capital asset from

LYCOS INTERNET LIMITED ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD

Bench: Shri Vijay Pal Rao, Vice- & Shri Madhusudan Sawdia

disallowances and computed the taxable income under the normal provisions of the Act at Rs.3,37,52,244/- and book profit as per MAT provisions for Rs.32,82,86,986/-. The assessee challenged the order of the Assessing Officer before the learned CIT (A) which was partly allowed vide order dated 23/06/2017 and the Revenue has filed an appeal against

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

1,32,595/-. 96. This ground is identical to the ground no.(ii) raised by the assessee in the appeal for the AY 2003-04 hereinabove. Hence, the same decision shall hold good as the facts are identical for the relevant assessment year also. 97. Ground No.(iii): Addition of Rs. Rs. 54,96,657/- towards levy of interest

M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD

In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

1,32,595/-. 96. This ground is identical to the ground no.(ii) raised by the assessee in the appeal for the AY 2003-04 hereinabove. Hence, the same decision shall hold good as the facts are identical for the relevant assessment year also. 97. Ground No.(iii): Addition of Rs. Rs. 54,96,657/- towards levy of interest