NRI ACADEMY OF SICENCES,VIJAYAWADA vs. INCOME TAX OFFICER, (EXEMPTION CIRCLE), VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.No.213/Viz/2025 (निर्धारणवर्ा/ Assessment Year:2023-24) Vs. Nri Academy Of Sciences Income Tax Officer – Exemption 60-3-1/44 Yk Buildings Vijayawada Bus Route No. 5 Ramachandra Nagar Vijayawada, Currency Nagar S.O. Vijayawada (Urban) Krishna – 520008, Andhra Pradesh [Pan:Aaatn4207C] करदाता का प्रतततितित्व/ Assessee Represented By : Shri C. Subrahmanyam, Ca राजस्व का प्रतततितित्व/ Department Represented By : Dr. Aparna Villuri, Sr.Ar

191 ITR 667 (SC) held as follows: - “Section 40A(3) must not be read in isolation or to the exclusion of rule 6DD. The section must be read along with the rule. If read together; it will be clear that the provisions are not intended to restrict the business activities. There is no restriction on the assessee in his trading

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI S BALAKRISHNAN HON’BLE (Accountant Member)

191, 192, 193, 194, 195, 196 & 197/Viz/2024 AP Power Generation Corporation Ltd assessee and cannot be considered as revenue income in the hands of the assessee for the impugned assessment year. Thus, the Ground No.2 raised by the assessee is allowed. 11. Ground No.3 is with respect to invoking of the provisions of section 14A of the Act by disallowing

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE 1(1), VIJAYAWADA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI S BALAKRISHNAN HON’BLE (Accountant Member)

191, 192, 193, 194, 195, 196 & 197/Viz/2024 AP Power Generation Corporation Ltd assessee and cannot be considered as revenue income in the hands of the assessee for the impugned assessment year. Thus, the Ground No.2 raised by the assessee is allowed. 11. Ground No.3 is with respect to invoking of the provisions of section 14A of the Act by disallowing

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE1(1), VIJAYAWADA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member)

191, 192, 193, 194, 195, 196 & 197/Viz/2024 AP Power Generation Corporation Ltd assessee and cannot be considered as revenue income in the hands of the assessee for the impugned assessment year. Thus, the Ground No.2 raised by the assessee is allowed. 11. Ground No.3 is with respect to invoking of the provisions of section 14A of the Act by disallowing

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), VIJAYAWADA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI S BALAKRISHNAN HON’BLE (Accountant Member)

191, 192, 193, 194, 195, 196 & 197/Viz/2024 AP Power Generation Corporation Ltd assessee and cannot be considered as revenue income in the hands of the assessee for the impugned assessment year. Thus, the Ground No.2 raised by the assessee is allowed. 11. Ground No.3 is with respect to invoking of the provisions of section 14A of the Act by disallowing

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI S BALAKRISHNAN HON’BLE (Accountant Member)

191, 192, 193, 194, 195, 196 & 197/Viz/2024 AP Power Generation Corporation Ltd assessee and cannot be considered as revenue income in the hands of the assessee for the impugned assessment year. Thus, the Ground No.2 raised by the assessee is allowed. 11. Ground No.3 is with respect to invoking of the provisions of section 14A of the Act by disallowing

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,VIJAYAWADA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member), SHRI S BALAKRISHNAN HON’BLE (Accountant Member)

191, 192, 193, 194, 195, 196 & 197/Viz/2024 AP Power Generation Corporation Ltd assessee and cannot be considered as revenue income in the hands of the assessee for the impugned assessment year. Thus, the Ground No.2 raised by the assessee is allowed. 11. Ground No.3 is with respect to invoking of the provisions of section 14A of the Act by disallowing

M/S. PHARMA BIO SOLUTIONS,,CHINNAVUTAPALLI vs. THE, CIT(A),, VIJAYAWADA

In the result, the appeal of the assessee is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.114/Viz/2016 (धििाारण िर्ा/Assessment Year:2011-2012) M/S Pharma Bio Solutions Vs. Income Tax Officer (Formerly Named As Ward-1(2) M/S Padmaja Laboratories Vijayawada Chinnavutapalli [Pan:Aakfp5523D] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri. B.V.S. Chalapathi Rao, Ar प्रत्यार्थी की ओर से/ Respondent By : Smt. Suman Malik, Dr सुनवाई की तारीख / Date Of Hearing : 13.11.2018 घोषणा की तारीख/Date Of Pronouncement : 16.11.2018

191 ITR 667). Section 40A(3) has been enacted for strict enforcement. Except making a claim that its case was covered under exceptional circumstances under Rule 6DD, Appellant did not provide any evidence of exceptional or unavoidable circumstances in this case (regular, periodical purchase of raw materials for production of aqua and Poultry feed supplements) which rendered making of payments

THE DCIT,, VISAKHAPATNAM vs. SRI VARALAKSHMI JUTE MILLS PVT LTD,, SRIKAKULAM

In the result, appeals filed by the Revenue in ITA

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)

section 37(1) of the Act, and that in every case it is a question of fact whether the expenditure was incurred wholly and exclusively for the purpose of trade or business. The authorised representative referred to the various tests laid down by the Hon'ble Gujarat High Court in CIT vs. Navasari Cotton and Silk Mills

SRI VARALAKSHMI JUTE TWINE MILLS PRIVATE LIMITED,,RAJAM vs. DCIT, CIRCLE-4(1),, VISAKHAPATNAM

In the result, appeals filed by the Revenue in ITA

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)

section 37(1) of the Act, and that in every case it is a question of fact whether the expenditure was incurred wholly and exclusively for the purpose of trade or business. The authorised representative referred to the various tests laid down by the Hon'ble Gujarat High Court in CIT vs. Navasari Cotton and Silk Mills

ACIT, CIRCLE-4(1), , VISAKHAPATNAM vs. SRI VARALAKSHMI JUTE TWINE MILLS PVT. LTD,, RAJAM

In the result, appeals filed by the Revenue in ITA

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)

section 37(1) of the Act, and that in every case it is a question of fact whether the expenditure was incurred wholly and exclusively for the purpose of trade or business. The authorised representative referred to the various tests laid down by the Hon'ble Gujarat High Court in CIT vs. Navasari Cotton and Silk Mills

SRI VARALAKSHMI JUTE TWINE MILLS PVT. LTD.,,RAJAM vs. THE ITO,, SRIKAKULAM

In the result, appeals filed by the Revenue in ITA

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)

section 37(1) of the Act, and that in every case it is a question of fact whether the expenditure was incurred wholly and exclusively for the purpose of trade or business. The authorised representative referred to the various tests laid down by the Hon'ble Gujarat High Court in CIT vs. Navasari Cotton and Silk Mills

THE DY. CIT, CIRCLE - 2(1),, VIJAYAWADA vs. SRI C.D.S.PRAKASA RAO, L/H. C.D.V. SUBBA RAO,, VIJAYAWADA

In the result, appeal of the revenue is allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.44/Viz/2013 (धििाारण िर्ा/Assessment Year:2006-07) Dy.Cit, Circle-2(1) Vs. C.D.V. Subba Rao Vijayawada Lr Of Late C.D.S. Prakasa Rao Prop.Prakash Arts, [Pan :Adapc2488D] Museum Road Governorpet Vijayawada [Pan : Adkpc7450P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri R.S.Aravindakshan, Dr प्रत्यार्थी की ओर से/ Respondent By : Shri G.V.N.Hari, Ar

disallowed u/s 43B of I.T.Act., and not an allowable expenditure. Thus, the AO formed the belief that the income chargeable to tax, has escaped assessment and accordingly issued the notice u/s 148 of I.T.Act. Though the AO has mentioned decision of CIT Vs. Associated Pigments Ltd. (supra) in the reasons to take the support, the AO has not relied

THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)., VISAKHAPATNAM vs. VARUN OGILI, NELLORE

In the result, appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A. No.137/Viz/2021("नधा"रणवष"/Asst. Year:2017-18) Deputy Commissioner Of Income Vs. Sri Varun Ogili, Tax (International Taxation), Nellore. Visakhapatnam. Pan: Aakpo 5012 C C.O. No. 4/Viz/2022 (Inआयकरअपीलसं./ I.T.A. No.137/Viz/2021) ("नधा"रणवष"/ Assessment Year :2017-18) Sri Varun Ogili, Vs. Deputy Commissioner Of Nellore. Income Tax (International Pan: Aakpo 5012 C Taxation), Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri Sunil Vamsi Krishna Kota ""याथ"क"ओरसे/ Revenue By : Sri On Hari Prasada Rao, Sr. Ar सुनवाईक"तार"ख/ Date Of Hearing : 14/03/2023 घोषणाक"तार"ख/Date Of : 04/05/2023 Pronouncement O R D E R

Disallowance of Agricultural income Rs. 6,55,000 2 Suppression of interest income Rs. 36,90,643 3 Unexplained cash deposit by peak credit Rs. 1,06,70,000 4 Excess claim of interest payment Rs. 11,632 5. Interest on borrowed capital claimed U/s. 24(b) Rs. 19,05,640 of the Act 6. Suppression of Bank Interest

GVR POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. ACIT, CIRCLE - 2(1), RAJAHMUNDRY

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

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

191 wherein ITAT held that the bank guarantee commission prices cannot be comparable for external CUP to bench mark the corporate guarantee. The Ld. DRP considered the submissions made by the assessee and observed that the assessee failed to show as to how the US Bond rate is more applicable than the bank rates adopted by the TPO. Further

ANDHRA PRADESH POWER GENERATION CORPORATION LIMITED,,VIJAYAWADA vs. THE ACIT, CIRCLE-3(1), , VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.167/Viz/2020 (निर्धारण वर्ा/Assessment Year:2012-13) Andhra Pradesh Power Generation Vs. Asst.Commissioner Of Corporation Ltd. Income Tax Vijayawada Circle-3(1) [Pan : Aacca2734J] Vijayawada (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

disallowance u/s 80IA. Thus the time limit for taking up the case for revision got expired by 31.03.2017. Since the issue of depreciation was not borne out of the reassessment order, the Ld.AR argued that the time limit cannot be extended and the time limit of two years got expired by 31.03.2017, hence, submitted that the order passed

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. SRI VIJAYA VISAKHA MILK PRODUCERS COMPANY LIMITED, VISAKHAPATNAM

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

191,19,78,283 From the above particulars it can be seen that while outgo is only Rs. 1,68,28,94,283/-, the amount claimed as expenditure which is capitalized. The AO was of the view that the amounts not actually paid but debited to profit & loss account only to be capitalized and thus he opined that the assessee