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

2)(iiihk) and (iiihl) of the Act. (para\n16) We are in agreement with such observations and findings of the\nCoordinate Bench of the Tribunal and while respectfully following the\nsame, we hold that inasmuch as the assessee satisfied the conditions\nof section 80G of the Act, the assessee is entitled to claim deduction\nunder section

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

Bench: Us :

2)(viia) of the Act has been made available on the statute to discourage share transactions at a suppressed value, therefore, the fine distinction attempted to be drawn by the assessee’s counsel between a “fresh allotment” vis-a-vis “transfer of shares” is devoid and bereft of any substance. 17 Thermodyne Dynamics Private Limited Vs. ITO 16. We have

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

55,404 | 2,67,81,999 | 12,58,20,688 |\n| 2021-22 | 5,57,69,012 | 1,62,07,177 | 58,57,556 | 41,70,416 | 3,24,22,875 | 9,03,945 | 11,53,30,981 |\n| Total | 45,52,39,617 | 18,45,03,085 | 4,39,01,458 | 2

SANGHI TEXTILES PRIVATE LIMITED,HYDERBAD vs. ITO., WARD-3(1), HYDERABAD

Bench: Us:

disallowance of Rs. 94,55,889/- are upheld and sustained. Accordingly. relevant grounds of appeal are dismissed and not allowed. 6. In result, the present appeal of the appellant is dismissed and not allowed.” 12. The assessee company, being aggrieved with the order of the CIT(A), has carried the matter in appeal before us. 13. We have heard

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

OPTUM GLOBAL SOLUTIONS (INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE -5(1), HYDERABAD

In the result, both the appeals of assessee are partly allowed

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

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

OPTUM GLOBAL SOLUTIONS (INDIA) PRIVATE LIMITED,HYDERABAD vs. DCIT CIRCLE -5(1), HYDERABAD

In the result, both the appeals of assessee are partly allowed

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

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

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

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

55,036/- as evidenced by the entries of cash outflows in the names of the employees found in the seized material against the gross unaccounted cash receipts from sale of spent solvents and scrap of Rs.1,10,89,415/- for arriving at the real income thereon. 3. In the facts and circumstances of the case

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

55,036/- as evidenced by the entries of cash outflows in the names of the employees found in the seized material against the gross unaccounted cash receipts from sale of spent solvents and scrap of Rs.1,10,89,415/- for arriving at the real income thereon. 3. In the facts and circumstances of the case

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

2) of the Act, read with Rule 8D of the Rules, we also make it clear that before applying the theory of apportionment, the AO needs to record satisfaction that having regard to the kind of the assessee, suo moto disallowance under Section 14A was not correct. It will be in those cases where the assessee in his return