OPTIMUS COMMODITY FUTURES PRIVATE LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.185/Viz/2018 (ननधधारण वर्ा/ Assessment Year: 2013-14) Optimus Commodity Futures Vs. Dy.Commissioner Of Private Ltd. Income Tax D.No.11-8-29 Circle-1(1) Jagannadam Street Vijayawada Kothapet Vijayawada [Pan : Aaaco6427B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri C.Subrahmanyam, Ar प्रत्यधथी की ओर से/ Respondent By : Shri D.K.Sonowal, Cit Dr

Depreciation Loss : Rs.9,39,162 Business Loss (Speculation Loss) : Rs.37,13,336/- 5.1. From the above computation, it is observed that though the loss assessed including the speculation loss was Rs.9,43,161/-, the AO allowed the business loss of Rs.9,39,162/- for carry forward excluding the speculation loss of Rs.4000/- (9,43,161-4000=9,39,162). Similarly

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAMAHENDRAVARAM vs. M/S. VINAYAKA ALLOY CASTINGS (P) LTD, RAZOLE

In the result, the appeal of the revenue is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.633/Viz/2019 (ननधधारण वर्ा / Assessment Year : 2005-06) Asst.Commissioner Of Income Tax Vs. M/S Vinayaka Alloy Castings (P) Circle-1 Ltd., Rajamahendravaram Rsn 227/1, Main Road, Razole [Pan : Aaacv7382D] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

set off of depreciation loss and business loss from out of the net profit as per profit & loss account. On verification

THE VISAKHAPATNAM CO-OPERATIVE BANK LIMITED, ,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), VISAKHAPATNAM

In the result, appeals filed by the assessee and Revenue are dismissed

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

depreciation is C.O.No.130 & 131/VIZ/2018 (M/s. The Visakhapatnam Co-op. Bank Ltd.) covered by the provisions of IT Act and not by RBI guidelines. As per sub-section (7) of section 72AB, the accumulated losses would have been entitled to carry forward and set

THE VISAKHAPATNAM CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), VISAKHAPATNAM

In the result, appeals filed by the assessee and Revenue are dismissed

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

depreciation is C.O.No.130 & 131/VIZ/2018 (M/s. The Visakhapatnam Co-op. Bank Ltd.) covered by the provisions of IT Act and not by RBI guidelines. As per sub-section (7) of section 72AB, the accumulated losses would have been entitled to carry forward and set

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(1), , VISAKHAPATNAM vs. VISAKHAPATNAM CO-OPERATIVE BANK LIMITED, VISAKHAPATNAM

In the result, appeals filed by the assessee and Revenue are dismissed

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

depreciation is C.O.No.130 & 131/VIZ/2018 (M/s. The Visakhapatnam Co-op. Bank Ltd.) covered by the provisions of IT Act and not by RBI guidelines. As per sub-section (7) of section 72AB, the accumulated losses would have been entitled to carry forward and set

RANAR AGROCHEM LIMITED,PARAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, VISAKHAPATNAM

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.288/Viz/2024 (िनधा"रण वष"/Assessment Year:2014-15) Ranar Agrochem Limited, Vs. Deputy Commissioner Visakhapatnam. Of Income Tax, Visakhapatnam. Pan: Aaccp0372M (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M. Madhusudan, Ca (Hybrid) राज" व "ारा/Revenue By: Sri Jenardhanan V, Cit-Dr सुनवाई की तारीख/Date Of Hearing: 14/10/2025 घोषणा की तारीख/Date Of 31/10/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Company Is Directed Against The Order Passed By The Commissioner Of Income-Tax (Appeals), National Faceless Appeal Center (Nfac), Delhi, Dated 15/05/2024, Which In Turn Arises From The Order Passed By The Assessing Officer (For Short, “A.O.”) Under Section 143(3) Of The Income Tax Act, 1961 (For Short “The Act”) Dated 30/12/2016 For A.Y.

setting off of the absorbed depreciation loss allowed to be carried forward against the income assessed to tax This additional

RAJAM POLYPACKS LIMITED,RAJAM vs. INCOME TAX OFFICER, WARD-2, SRIKAKULAM

In the result, the appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.258/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2018-19) Rajam Polypacks Limited Vs. Income Tax Officer Ponduru Road Ward-2 Rajam Srikakulam [Pan : Aabcr0489G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri Ya Rao, Ar प्रत्यधथी की ओर से / Respondent By : Shri On Hari Prasad Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 16.11.2022 घोर्णध की तधरीख/Date Of Pronouncement : 16.12.2022 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: This Appeal Is Filed By The Assessee Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No.Itba/Nfac/S/250/2021-22/ 1036317185(1) Dated 12.10.2021 For The Assessment Year (A.Y.) 2018- 19. 2. The Assessee Raised The Following Grounds Of Appeal : 1. The Order Passed By Learned Commissioner (Appeals), Dated 12.10.2021 Confirming The Disallowance Of Rs.56,448/- & Rs.2,53,947/- By Invoking Provisions Of Sec.36(1A) R.W.S. 43(B) Of I.T.Act Is Illegal & Unjust After Relying On The Amendment Brought By Finance Act, 2021 To Sec.36(5A) R.W.S. (43B).

set off of unabsorbed business losses and unabsorbed depreciation losses. The assessee also furnished certificate u/s 115JB of Income Tax Act, 1961 (in short

THE KANAKAMAHALAKSHMI CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

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

set off of the accumulated loss and unabsorbed depreciation in case of business reorganization of cooperative banks. Sub-section(7) of section

THE KANAKAMAHALAKSHMI CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

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

set off of the accumulated loss and unabsorbed depreciation in case of business reorganization of cooperative banks. Sub-section(7) of section

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

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

losses and depreciation of eligible business, even though they have been allowed to be set off against the other income

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

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

losses and depreciation of eligible business, even though they have been allowed to be set off against the other income

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

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

losses and depreciation of eligible business, even though they have been allowed to be set off against the other income

BHARAT HEAVY ELECTRICAL LIMITED (HPVP UNIT) FORMERLY KNOWN AS BHARAT HEAVY PLATE AND VESSELS LIMITED,VISAKHAPATNAM vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-3, , VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.128 & 129/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 & 2012-13 Respectively) M/S Bharat Heavy Electricals Limited Vs. Addl. Commissioner Of (Hpvp) Unit Income Tax Formerly Known As Bharat Heavy Range-3 Plate & Vessels Ltd. Visakhapatnam D.No.10-3, Administrative Building Natayyapalem, Visakhapatnam [Pan :Aaacb7076N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri I Kama Sastry, Ar प्रत्यधथी की ओर से / Respondent By : Shri V.Appala Raju, Dr सुनवधई की तधरीख / Date Of Hearing : 13.08.2019 25.09.2019 घोर्णध की तधरीख/Date Of Pronouncement : आदेश /O R D E R

depreciation on assets taken on lease by the assessee. In this case, for the A.Y. 2011-12 the assessee filed the return of income declaring total income of Rs.Nil after set off of brought forward losses

BHARAT HEAVY ELECTRICAL LIMITED (HPVP UNIT) FORMERLY KNOWN AS BHARAT HEAVY PLATE AND VESSELS LIMITED,VISAKHAPATNAM vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-3,, VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.128 & 129/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12 & 2012-13 Respectively) M/S Bharat Heavy Electricals Limited Vs. Addl. Commissioner Of (Hpvp) Unit Income Tax Formerly Known As Bharat Heavy Range-3 Plate & Vessels Ltd. Visakhapatnam D.No.10-3, Administrative Building Natayyapalem, Visakhapatnam [Pan :Aaacb7076N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri I Kama Sastry, Ar प्रत्यधथी की ओर से / Respondent By : Shri V.Appala Raju, Dr सुनवधई की तधरीख / Date Of Hearing : 13.08.2019 25.09.2019 घोर्णध की तधरीख/Date Of Pronouncement : आदेश /O R D E R

depreciation on assets taken on lease by the assessee. In this case, for the A.Y. 2011-12 the assessee filed the return of income declaring total income of Rs.Nil after set off of brought forward losses

SLC PROJECTS PVT.LTD.,,VISAKHAPATNAM vs. ACIT, CENTRAL CIRCLE-2, VISAKHAPATNAM

In the result, the appeal filed by the assessee is partly allowed for

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

depreciation. Accordingly, we uphold the order of the Ld. CIT(A) and dismiss the appeal of the assessee on this ground. 8. Ground No.2 is related to the disallowance u/s 14A r.w. Rule 8D income tax Rules. The assessing officer found that the assessee had made investments of ` 15.45 crores in various companies and no expenditure was disallowed

VISAKHAPATNAM METROPOLITAN REGION DEVELOPMENT AUTHORITY VMRDA,VISAKHAPATNAM vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-1, VISAKHAPATNAM

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

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

losses claimed by the assessee whether to allow or not to allow. Whereas the AO travelled beyond his jurisdiction and taxed the income denying exemption u/sec. 11 which is not in accordance with the directions of the ITAT, therefore argued that on this ground also the order of the ld.CIT(E) needs to be set aside. Since we have allowed

M/S. VISAKHAPATNAM URBAN DEVELOPMENT AUTHORITY(VUDA),,VISAKHAPATNAM vs. THE CIT, (EXEMPTIONS),, HYDERABAD

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

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

losses claimed by the assessee whether to allow or not to allow. Whereas the AO travelled beyond his jurisdiction and taxed the income denying exemption u/sec. 11 which is not in accordance with the directions of the ITAT, therefore argued that on this ground also the order of the ld.CIT(E) needs to be set aside. Since we have allowed

M/S. VISAKHAPATNAM URBAN DEVELOPMENT AUTHORITY(VUDA),,VISAKHAPATNAM vs. THE CIT, (EXEMPTIONS),, HYDERABAD

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

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

losses claimed by the assessee whether to allow or not to allow. Whereas the AO travelled beyond his jurisdiction and taxed the income denying exemption u/sec. 11 which is not in accordance with the directions of the ITAT, therefore argued that on this ground also the order of the ld.CIT(E) needs to be set aside. Since we have allowed