THE ASST. CIT,, VISAKHAPATNAM vs. THE VISAKHAPATNAM CO -OPERATIVE BANK LIMITD,, VISAKHAPATNAM
ITA 308/VIZ/2017[2013-2014]Status: DisposedITAT Visakhapatnam12 Jan 2018AY 2013-2014
Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) Acit, Circle-1(1), Vs. M/S. The Visakhapatnam Visakhapatnam. Co-Operative Bank Ltd., Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) C.O.No. 58/Viz/2017 (Ita No. 308/Viz/2017) (Asst. Year : 2013-14) M/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent)
For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonowal–CIT-DR
Section 194ASection 194A(1)Section 194A(3)(i)Section 194A(3)(v)
capital only upon determination of the surplus arising from the business i.e. net profit. This is nothing but appropriation of profits but not an expenditure incurred for carrying on the business. The Ld. CIT(A) by following the decision of the coordinate bench of the Tribunal in assessee’s own case for the assessment year
2007-08
in &
19/Vizag/2011
