DCIT, CIRCLE-3(1), HYDERABAD, HYDERABAD vs. RITHWIK PROJECTS PRIVATE LIMITED, HYDERABAD, HYDERABAD

In the result, both the assessee’s appeals are partly allowed and both the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

80G of the Act. 4. The Ld. CIT(A) erred in upholding the disallowance of loss on sale of assets of Rs. 4,74,93,277/-. 5. The Ld. CIT(A) CIT (A) ought to have appreciated that the loss accrued on sale of asset is revenue in nature and hence an allowable expenditure

DCIT, CIRCLE-3(1), HYDERABAD, HYDERABAD vs. RITHWIK PROJECTS PRIVATE LIMITED, HYDERABAD, HYDERABAD

In the result, both the assessee’s appeals are partly allowed and both the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

80G of the Act. 4. The Ld. CIT(A) erred in upholding the disallowance of loss on sale of assets of Rs. 4,74,93,277/-. 5. The Ld. CIT(A) CIT (A) ought to have appreciated that the loss accrued on sale of asset is revenue in nature and hence an allowable expenditure

RITHWIK PROJECTS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-3(1), HYDERABAD, HYDERABAD

In the result, both the assessee’s appeals are partly allowed and both the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

80G of the Act. 4. The Ld. CIT(A) erred in upholding the disallowance of loss on sale of assets of Rs. 4,74,93,277/-. 5. The Ld. CIT(A) CIT (A) ought to have appreciated that the loss accrued on sale of asset is revenue in nature and hence an allowable expenditure

RITHWIK PROJECTS PRIVATE LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-3(1), HYDERABAD, HYDERABAD

In the result, both the assessee’s appeals are partly allowed and both the Revenue’s appeals are dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman

80G of the Act. 4. The Ld. CIT(A) erred in upholding the disallowance of loss on sale of assets of Rs. 4,74,93,277/-. 5. The Ld. CIT(A) CIT (A) ought to have appreciated that the loss accrued on sale of asset is revenue in nature and hence an allowable expenditure

ANDHRA PRADESH BEVERAGES CORPORATION LIMITED ,HYDERABAD vs. DCIT, CIRCLE-1(1), HYDERABAD

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

5. The assessee challenged the order of the learned CIT(A) before the ITAT. The ITAT, Hyderabad Bench vide order dated 29.01.2019 in ITA.Nos.665 & 878/Hyd./2018 has remitted the issue back to the file of Assessing Officer for both the assessment years and directed the Assessing Officer to verify the letters filed by the assessee from various Officers