THE COMMISSIONER OF INCOME TAX III, vs. M/S. SAVIJANA SEA FOODS PVT. LTD.,

Appeals of the Revenue are dismissed

Bench: J SREENIVAS RAO,ALOK ARADHE

271. The Assessee also decided to pay in addition compensation amounting to Rs.1,18,38,705 in lieu of surrender of their rights in the flat. This expenditure was claimed by the Assessee as „revenue in nature‟ and was charged to the Profit and Loss Account („P&L Account‟). Proceedings before the AO 4. The Assessing Officer („AO‟) who picked

Commissioner of Income Tax-III, vs. M/s Sree Rayalaseema Green Energy Limited,

section 271(1)(c) are being initiated separately.” 7. This is the entire discussion on the said addition, in the assessment order. The amounts in question are substantial. The Assessing Officer must discuss the facts before he affirms his final ITA No. 439/2013 Page 4 of 5 conclusion, especially when significant additions are made creating tax liability. 8. CIT(Appeals

Commissioner of Income Tax, vs. M/s. Kokivenkateswara Reddy AND others,

Appeals of the Revenue are dismissed

Bench: V.V.S.RAO,RAMESH RANGANATHAN

271. The Assessee also decided to pay in addition compensation amounting to Rs.1,18,38,705 in lieu of surrender of their rights in the flat. This expenditure was claimed by the Assessee as „revenue in nature‟ and was charged to the Profit and Loss Account („P&L Account‟). Proceedings before the AO 4. The Assessing Officer („AO‟) who picked