THE DCIT,, VISAKHAPATNAM vs. SRI VARALAKSHMI JUTE MILLS PVT LTD,, SRIKAKULAM
In the result, appeals filed by the Revenue in ITA
ITA 340/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam09 Feb 2018AY 2012-2013
Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bledcit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Ito, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L Acit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Dcit, Circle-4(1), Mills Pvt. Ltd., Bobbili Road, Visakhapatnam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L (Appellants) (Respondents)
For Appellant: Shri Yogesh A. Thar &For Respondent: Shri T. Satyanandam – Sr.DR
Section 143(1)Section 143(3)
5. The Assessing Officer further observed that two leases commenced from 01/09/2010 and supposed to continue till
31/08/2016. For the Financial Year 2011-12, relevant to the Assessment Year 2012-13, other than 12 regular employees to manage and control, the only source of income ‘lease rentals’ and to attend the related works, as claimed by the company, the other