M/S. MAHATI SOFTWARE PVT. LTD.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM
In the result, appeals of the assessee are partly allowed
ITA 68/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam07 Sept 2018AY 2012-2013
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 10ASection 143(3)Section 144Section 144C(1)Section 194JSection 40
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I.T.A Nos.67/Viz/2016& 68/Viz/2017
M/s Mahati Software Pvt. Ltd., Visakhapatnam
the TPO proposed to charge the interest @12.25% on interest at PLR. The assessee objected for the proposed charging of interest and submitted before the TPO that the advance was given for business purposes, hence, the disallowance was not called for. The assessee further submitted that out of the advances
