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

68,95,756 - 14,09,92,643 2020-21 5,12,22,731 3,27,38,075 1,02,22,479 48,55,404 2,67,81,999 - 12,58,20,688 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 Total

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

68,95,756 - 14,09,92,643 2020-21 5,12,22,731 3,27,38,075 1,02,22,479 48,55,404 2,67,81,999 - 12,58,20,688 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 Total

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

In the result, the appeal of assessee in ITA No

68,95,756\n14,09,92,643\n2020-21\n5,12,22,731\n3,27,38,075\n1,02,22,479\n48,55,404\n2,67,81,999\n12,58,20,688\n2021-22\n5,57,69,012\n1,62,07,177\n58,57,556\n41,70,416\n3,24,22,875\n9,03,945\n11,53,30,981\nTotal

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

68,95,756\n14,09,92,643\n2020-21\n5,12,22,731\n3,27,38,075\n1,02,22,479\n48,55,404\n2,67,81,999\n12,58,20,688\n2021-22\n5,57,69,012\n1,62,07,177\n58,57,556\n41,70,416\n3,24,22,875\n9,03,945\n11,53,30,981\nTotal

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

115Q of the Act. Therefore, he submitted that the order of LD.CIT(A) should be upheld.\n36. We have heard both parties, perused the material available on record and gone through the orders of the authorities below. We find that, the issue on similar facts has already been decided in favour of the assessee by the decision of the ITAT

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. M/S. MSN LIFE SCIENCES PVT. LTD., HYDERABAD

68,95,756 |\n| 2,67,81,999 |\n| 3,24,22,875 |\n| 9,03,945 |\n| 11,32,72,843 |\n\n5. 2. During the course of assessment proceedings, in the written\nsubmissions furnished to the AO on 21-4-2022 in response to\nnotice under Section 142(1) of the Act, the appellant reiterated the\nexplanation

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. MSN PHARMACHEM PVT. LTD., HYDERABAD

In the result, the appeal of assessee in ITA No

68,95,756\n14,09,92,643\n2020-21\n5,12,22,731\n3,27,38,075\n1,02,22,479\n48,55,404\n2,67,81,999\n12,58,20,688\n2021-22\n5,57,69,012\n1,62,07,177\n58,57,556\n41,70,416\n3,24,22,875\n9,03,945\n11,53,30,981\nTotal

MAITHRI LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

115Q of the Act.\nTherefore, he submitted that the order of LD.CIT(A) should be\nupheld.\n22. We have heard both parties, perused the material available\non record and gone through the orders of the authorities below. We\nfind that, the issue on similar facts has already been decided in\nfavour of the assessee by the decision of the ITAT

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

In the result, the appeal of assessee in ITA No

68,95,756\n14,09,92,643\n2020-21\n5,12,22,731\n3,27,38,075\n1,02,22,479\n48,55,404\n2,67,81,999\n12,58,20,688\n2021-22\n5,57,69,012\n1,62,07,177\n58,57,556\n41,70,416\n3,24,22,875\n9,03,945\n11,53,30,981\nTotal

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

In the result, the appeal of assessee in ITA No

68,95,756 | | 14,09,92,643\n2020-21 | 5,12,22,731 | 3,27,38,075 | 1,02,22,479 | 48,55,404 | 2,67,81,999 | | 12,58,20,688\n2021-22 | 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\nTotal

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

68,051\nBalance\nexcess payments\ntreated as “advance or loan”\nconstituting\ndeed dividend\nAggregate deemed dividend\n| for AY 2019-20\n241,53,50,035\n243,06,97,212\n1,53,47,177\n16.\nThe AO observed that the appellant company, being the payer\ncompany, is liable to pay dividend distribution tax under the\nprovisions of section

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

section 2(22)(e) and keeping in view\nthe flexibility required in practical business situations, the AO treated\nthe payments made by the appellant company to the extent of 150%\nof the purchases made from the recipient companies as the payments\nmade in the ordinary course of business and the payments made in\nexcess of such

SATYANARAYANA REDDY MANNE,HYDERABAD vs. ACIT., CENTRAL CIRCLE-2(4), HYDERABAD

In the result, appeal filed by the Assessee is allowed and appeal filed by the Revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

68,051 addition to 100% of purchases considered above Balance excess payments 241,53,50,035 1,53,47,177 treated as “advance or loan” constituting deemed dividend Aggregate deemed dividend for 243,06,97,212 AY 2019-20 45 ITA.Nos.382 & 472/Hyd./2025 Particulars A/c of MSN Laboratories Pvt Ltd in the books of the appellant. Amount

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. SATYANARAYANA REDDY MANNE, HYDREABAD

In the result, appeal filed by the Assessee is allowed and\nappeal filed by the Revenue is dismissed

68,051\n1,53,47,177\nParticulars\nA/c of MSN Laboratories Pvt Ltd in the books\nof the appellant.\nAmount in (Rs.)\n299,95,35,547\n100,43,24,928\n506,40,05,020\n2,13,45,020\n336,86,26,307\n567,78,93,192\n267,83,57,645\n1,06,72,998\n266,76,84,647\nOpening debit