THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri M.V.Anil Kumar, Advocate रधजस् व द्वधरध/Revenue by:: Ms. K. Haritha, CIT-DR सुिवधई की

THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED,HYDERABAD vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri M.V.Anil Kumar, Advocate रधजस् व द्वधरध/Revenue by:: Ms. K. Haritha, CIT-DR सुिवधई की

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri M.V.Anil Kumar, Advocate रधजस् व द्वधरध/Revenue by:: Ms. K. Haritha, CIT-DR सुिवधई की

THE ANDHRA PRADESH STATE CO OPERATIVE BANK LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri M.V.Anil Kumar, Advocate रधजस् व द्वधरध/Revenue by:: Ms. K. Haritha, CIT-DR सुिवधई की

THE ANDHRA PRADESH STATE CO-OPERATIVE BANK LTD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), HYDERABAD

In the result, the S.As. filed by the assessee are dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Shri M.V.Anil Kumar, Advocate रधजस् व द्वधरध/Revenue by:: Ms. K. Haritha, CIT-DR सुिवधई की

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

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

Section 36(1)(iii) of the Income-tax Act, 1961. 30. The next issue that came up for our consideration from ground no.6 of the assessee's appeal is confirming the disallowance of cash discount of Rs. 1,53,67

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD vs. ANDHRA BANK , HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

disallowance of sum of Rs.2,50,00,000/- u/s 37(1) of the Act towards penalty paid u/s 46(4) of the Banking Regulation Act, 1949 for deviation in implementation of KYC-AML guidelines. The assessee bank has not added back penalty in the computation of income by following the decision of Hon'ble Supreme Court in the case

UNION BANK OF INDIA (ERSTWHILE- ANDHRA BANK),MUMBAI vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

disallowance of sum of Rs.2,50,00,000/- u/s 37(1) of the Act towards penalty paid u/s 46(4) of the Banking Regulation Act, 1949 for deviation in implementation of KYC-AML guidelines. The assessee bank has not added back penalty in the computation of income by following the decision of Hon'ble Supreme Court in the case

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD vs. ANDHRA BANK , HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

disallowance of sum of Rs.2,50,00,000/- u/s 37(1) of the Act towards penalty paid u/s 46(4) of the Banking Regulation Act, 1949 for deviation in implementation of KYC-AML guidelines. The assessee bank has not added back penalty in the computation of income by following the decision of Hon'ble Supreme Court in the case

UNION BANK OF INDIA,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(1), HYDERABAD

In the result, appeal filed by the assessee in ITA

Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.350 & 351/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Dy. C. I. T. Vs. Andhra Bank Circle-1(1) Hyderabad Hyderabad [Pan : Aabca7375C] (Appellant) (Respondent) आ.अपी.सं /Ita No.364 & 365/Hyd/2018 (निर्धारण वर्ा/Assessment Year: 2013-14 & 2014-15) Union Bank Of India Vs. Dy. C. I. T. (Erstwhile Andhra Bank) Circle-1(1) Mumbai Hyderabad [Pan : Aaacu0564G (Aabca7375C)] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Ananthan & Smt.Lalitha Rameswaran, Ar रधजस् व द्वधरध/Revenue By: Shri K.Meghnath Chowhan, Cit-Dr सुिवधई की तधरीख/Date Of 05/11/2024 Hearing: घोर्णध की तधरीख/Date Of 24/01/2025 Pronouncement: आदेश/Order Per Manjunatha G., A.M

disallowance of sum of Rs.2,50,00,000/- u/s 37(1) of the Act towards penalty paid u/s 46(4) of the Banking Regulation Act, 1949 for deviation in implementation of KYC-AML guidelines. The assessee bank has not added back penalty in the computation of income by following the decision of Hon'ble Supreme Court in 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

disallowance of sum of Rs.2,50,00,000/- u/s 37(1) of the Act towards penalty paid u/s 46(4) of the Banking Regulation Act, 1949 for deviation in implementation of KYC-AML guidelines. The assessee bank has not added back penalty in the computation of income by following the decision of Hon'ble Supreme Court in the case

COUNTRY CLUB HOSPITALITY & HOLIDAYS LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

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

67,315 and book profit of Rs.2,62,85,309 under section 115JB of the Act. During the assessment proceedings under section 143(3) of the I.T. Act, the income of the assessee was determined at Rs.16,36,43,200. Subsequently, the CIT assumed jurisdiction under section 263 of the I.T. Act and directed the A.O. (i) to bring

DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. TRACKS & TOWERS INFRATECH PRIVATE LIMITED(PART IX), HYDERABAD

In the result, both the appeals filed by the revenue are partly allowed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

1) of section 139. In view of the above, he held that the assessee is not eligible for claim of deduction under section 80IA of the I.T.Act. 5.1 Without prejudice to the above, the AO further held that since the assessee is a works contractor and the company executes the contracts only and not a developer, therefore, the assessee

DY. COMMISSIONER OF INCOME TAX , CIRCLE-2(2), HYDERABAD vs. TRACKS & TOWERS INFRATECH PRIVATE LIMITED(PART IX), HYDERABAD

In the result, both the appeals filed by the revenue are partly allowed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

1) of section 139. In view of the above, he held that the assessee is not eligible for claim of deduction under section 80IA of the I.T.Act. 5.1 Without prejudice to the above, the AO further held that since the assessee is a works contractor and the company executes the contracts only and not a developer, therefore, the assessee

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

section 80-IA by allowing the deduction to the extent of GTI and not restricting it ONLY against Income from Business or Profession. Aggrieved by the order of Ld. CIT(A), Department is into appeal before Hon’ble ITAT. During the course of hearing on 23 June 2021 our authorized representative (AR) argued that: a) 14A issue: The issue

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NSL RENEWABLE POWER PRIVATE LIMITED, HYDERABAD

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

section 80-IA by allowing the deduction to the extent of GTI and not restricting it ONLY against Income from Business or Profession. Aggrieved by the order of Ld. CIT(A), Department is into appeal before Hon’ble ITAT. During the course of hearing on 23 June 2021 our authorized representative (AR) argued that: a) 14A issue: The issue

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

In the result, the appeals filed by the assessee for A

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