ASST CIT 11(3)(2), MUMBAI vs. VINCA DEVELOPERS P.LTD, MUMBAI
In the result both the appeals filed by the assessee is partly allowed and
ITA 649/MUM/2016[2011-12]Status: DisposedITAT Mumbai30 May 2018AY 2011-12
Bench: Shri R.C. Sharma & Shri Pawan Singhacit-11(3)(2), M/S Vinca Developers Pvt. Ltd. 6Th Floor, Akruti Trade Centre, Room No. 427, Aayakar Bhavan, M.K. Road, Road No. 07, Marol Midc, Vs. Mumbai-400020. Andheri (East), Mumbai-400072 Pan:Aaccv8042J (Appellant) (Respondent) Cross Objection No. 33/Mum/2016 (Ita No. 649/Mum/16 (A.Y- 2011-12) M/S Vinca Developers Pvt. Ltd. Acit-11(3)(2), 6Th Floor, Akruti Trade Centre, Room No. 427, Aayakar Road No. 07, Marol Midc, Bhavan, M.K. Road, Vs. Mumbai-400020. Andheri (East), Mumbai-400072 Pan:Aaccv8042J (Appellant) (Respondent) Ita No. (Tp)A 1854/Mum/2016 (Assessment Year- 2011-12) M/S Vinca Developers Pvt. Ltd. Acit-11(3)(2), 6Th Floor, Akruti Trade Centre, Room No. 427, Aayakar Road No. 07, Marol Midc, Bhavan, M.K. Road, Vs. Andheri (East), Mumbai-400020. Mumbai-400072 Pan:Aaccv8042J (Appellant) (Respondent)
For Appellant: Shri Vijay Mehta (AR)For Respondent: Shri V. Jenardhanan (DR)
Section 143(3)Section 144C(13)Section 254(1)Section 36(1)(iii)Section 92C
92C(A)(3), the
Assessing Officer passed draft assessment order under section 143(3)
r.w.s. 144C(5) on 27.03.2015. The Assessing Officer also made the
disallowance of interest of Rs. 1,62,70,200/- on account of advance given
to M/s Ackruti City Limited (Akruti). On such the addition/disallowance
and the adjustment suggested on account of ALP with regard