SRI SEETARAMANJANENYA SORTEX,KAKINADA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, VISAKHAPATNAM
In the result, appeal of the assessee is partly allowed for statistical purpose
ITA 147/VIZ/2023[2018-19]Status: DisposedITAT Visakhapatnam29 Nov 2023AY 2018-19
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.147/Viz/2023 (ननधधारण वर्ा / Assessment Year : 2018-19) Sri Seetaramanjaneya Sortex Vs. Principal Commissioner Of 1-2015/A, Uppalanka Income Tax Kakinada Visakhapatnam [Pan : Abdfs4641P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
For Appellant: Shri Paradeep Tayal & OrsFor Respondent: Dr.Satyasai Rath, CIT(DR)
Section 143(3)Section 194A(3)(i)Section 194A(3)(iii)Section 263Section 36(1)(va)Section 40
section 263 of the Act, the assessment records for the A.Y.2018-19 were called for and the same were examined and the Ld.PCIT observed as follows :
i.
As seen from P&L a/c and balance sheet of ITR, the assessee has shown
Loan from bank - Nil
Loan from others – Rs.11,96,85,759
Interest debited to P&L a/c Rs.94