ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1, , ELURU vs. THE ELURU CO-OPERATIVE URBAN BANK LIMITED, ELURU
In the result, cross objection filed by the assessee is partly allowed
ITA 384/VIZ/2018[2010-11]Status: DisposedITAT Visakhapatnam11 May 2022AY 2010-11
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अऩीऱ सं./ I.T.A. No.384/Viz/2018 (ननधधारण वषा / Ay:2010-11) Asst. Commissioner Of Income Vs. The Eluru Cooperative Urban Tax, Bank Limited, Circle-1, Eluru. Eluru. Pan: Aaabt 0168 L (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) C.O. No.108/Viz/2019 (In आयकर अऩीऱ सं./ I.T.A. No.384/Viz/2018) (ननधधारण वषा / Ay :2010-11) The Eluru Cooperative Urban Vs. Asst. Commissioner Of Bank Limited, Income Tax, Eluru. Circle-1, Pan: Aaabt 0168 L Eluru. (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Sri C. Subrahmanyam प्रत्यधथी की ओर से / Respondent By : Sri Spg Mudaliar, Sr. Ar
For Appellant: Sri C. SubrahmanyamFor Respondent: Sri SPG Mudaliar, Sr. AR
Section 143(2)Section 143(3)Section 250(6)Section 36(1)(viia)
section 36(1)(viia) of the Act. Accordingly, the Ld. AO has rightly computed the deduction eligible U/s. 36(1)(viia) of the Act. We therefore uphold the order of the Ld. AO on this ground.
13. With respect to Grounds No. 5 to 7 on the loss incurred by the sale of Government Securities, we find merit
