JAIN BABULAL CHAMPATLAL,VIJAYAWADA vs. INCOME TAX OFFICER, WARD 2(1), VIJAYAWADA
In the result, both the appeals filed by the assessee are 9
ITA 401/VIZ/2025[2018-19]Status: DisposedITAT Visakhapatnam07 Nov 2025AY 2018-19
Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos.400 & 401/Viz/2025 (निर्धारण वर्ा/ Assessment Year:2018-19) Vs. Jain Babulal Champatlal Income Tax Officer – Ward – 2(1) Cr Building, 1St Floor Annex 40-1-155, Lgf Mg Road, Vijayawada – 520002 Ripples Mall, M.G. Road Andhra Pradesh Vijayawada-520010 Andhra Pradesh [Pan:Aefpc1220F]
Section 10Section 143(2)Section 143(3)Section 270ASection 57
2
I.T.A.Nos.400 & 401/VIZ/2025
Jain Babulal Champatlal
Ld. AO completed the assessment under section 143(3) r.w.s. 143(3A) &
143(3B) of the Act on 13.03.2021 by disallowing an interest of Rs.8,18,571/-
(Rs.4,70,250/ + Rs.3,35,404/- + Rs.12,917/-) observing that the interest payment has not been incurred wholly and exclusively for earning income, accordingly, disallowed