KOTU ANASUYA (LATE),VISAKHAPATNAM vs. DCIT, VISAKHAPATNAM

In the result, appeals filed by the assessees in ITA Nos

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

capital gains under section 71 of the Act, which the Assessing Officer disputed for disallowance. There is no dispute that the assessee has borrowed the funds and made the investments in the business. The Assessing Officer did not make out a case that the assessee has diverted the funds for non-business purpose. Business consideration is the decision

DCIT, CIRCLE - 3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

Bench: Shri Ravish Sood & Shri Balakrishnan S.

14A r.w Rule 8D of Rs. 15,42,448/-. 11. Accordingly, the AO vide his order passed under section 143(3) r.w.s 144B of the Act, dated 20/09/2021, determined the income of the assessee company at Rs. 50,14,81,765/-. 12. Aggrieved, the assessee company carried the matter in appeal before the CIT(A), who after deliberating at length

DCIT, CIRCLE -3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

Bench: Shri Ravish Sood & Shri Balakrishnan S.

14A r.w Rule 8D of Rs. 15,42,448/-. 11. Accordingly, the AO vide his order passed under section 143(3) r.w.s 144B of the Act, dated 20/09/2021, determined the income of the assessee company at Rs. 50,14,81,765/-. 12. Aggrieved, the assessee company carried the matter in appeal before the CIT(A), who after deliberating at length

DCIT, CIRCLE - 3(1), , VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

14A r.w Rule 8D of Rs.\n15,42,448/-.\n11. Accordingly, the AO vide his order passed under section 143(3)\nr.w.s 144B of the Act, dated 20/09/2021, determined the income of the\nassessee company at Rs. 50,14,81,765/-.\n12. Aggrieved, the assessee company carried the matter in appeal\nbefore the CIT(A), who after deliberating at length

THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY, ,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM vs. VISAKHAPATNAM PORT AUTHORITY, , VISAKHAPTNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

THE VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASST. CIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ADDL. CIT.,, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

gains of business or profession” wherein the disallowance U/s. 43B has been made becomes irrelevant and as such no consequentialeffect would be given to the disallowed amount on payment basis in the subsequent year. Therefore, the Ld. CIT-1, Visakhapatnam was of the opinion that such expenditure having no correlation with the income of the assessee earned during the relevant

KPR AGROCHEM LIMITED,BALABHADRAPURAM vs. DCIT CIRCLE-1, KAKINADA

In the result, appeals filed by the revenue in I

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.80/Viz/2021 & 81/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2016-17 & 2017-18) Dy.Commissioner Of Income Tax Vs. M/S K.P.R.Agrochem Ltd Circle-1 D.No.8-256, Tata Nagar Kakinada Balabhadrapuram East Godavari [Pan : Aadck0257B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.221/Viz/2022 To 223/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2013-14, 2014-15 & 2015-16) M/S K.P.R.Agrochem Ltd Vs. Dy.Commissioner Of D.No.8-256, Tata Nagar Income Tax Balabhadrapuram Circle-1 East Godavari Kakinada [Pan : Aadck0257B] अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar Shri A.Chakradhar, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 20.03.2023 घोर्णध की तधरीख/Date Of Pronouncement : 15.06.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

capital & reserves and surplus). 2. The understanding of the Hon’ble CIT(A) wrt Circular No.5 of 2014 dated 11/02/2014 is wrong. 3. The CIT(A) is wrong in relying on the explanaiton to FA 2022 below section 14A as the same is prospective in nature. 4. The CIT(A) ought to have appreciated that the AO erred in making

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, , KAKINADA vs. KPR AGROCHEM LIMITED, BALABHADRAPURAM

In the result, appeals filed by the revenue in I

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.80/Viz/2021 & 81/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2016-17 & 2017-18) Dy.Commissioner Of Income Tax Vs. M/S K.P.R.Agrochem Ltd Circle-1 D.No.8-256, Tata Nagar Kakinada Balabhadrapuram East Godavari [Pan : Aadck0257B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.221/Viz/2022 To 223/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2013-14, 2014-15 & 2015-16) M/S K.P.R.Agrochem Ltd Vs. Dy.Commissioner Of D.No.8-256, Tata Nagar Income Tax Balabhadrapuram Circle-1 East Godavari Kakinada [Pan : Aadck0257B] अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar Shri A.Chakradhar, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 20.03.2023 घोर्णध की तधरीख/Date Of Pronouncement : 15.06.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

capital & reserves and surplus). 2. The understanding of the Hon’ble CIT(A) wrt Circular No.5 of 2014 dated 11/02/2014 is wrong. 3. The CIT(A) is wrong in relying on the explanaiton to FA 2022 below section 14A as the same is prospective in nature. 4. The CIT(A) ought to have appreciated that the AO erred in making

KPR AGROCHEM LIMITED,BALABHADRAPURAM vs. DCIT CIRCLE-1, KAKINADA

In the result, appeals filed by the revenue in I

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.80/Viz/2021 & 81/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2016-17 & 2017-18) Dy.Commissioner Of Income Tax Vs. M/S K.P.R.Agrochem Ltd Circle-1 D.No.8-256, Tata Nagar Kakinada Balabhadrapuram East Godavari [Pan : Aadck0257B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.221/Viz/2022 To 223/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2013-14, 2014-15 & 2015-16) M/S K.P.R.Agrochem Ltd Vs. Dy.Commissioner Of D.No.8-256, Tata Nagar Income Tax Balabhadrapuram Circle-1 East Godavari Kakinada [Pan : Aadck0257B] अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar Shri A.Chakradhar, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 20.03.2023 घोर्णध की तधरीख/Date Of Pronouncement : 15.06.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

capital & reserves and surplus). 2. The understanding of the Hon’ble CIT(A) wrt Circular No.5 of 2014 dated 11/02/2014 is wrong. 3. The CIT(A) is wrong in relying on the explanaiton to FA 2022 below section 14A as the same is prospective in nature. 4. The CIT(A) ought to have appreciated that the AO erred in making