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

1,80,05,129/- and disallowed the same under section 40(a)(ia) of the Act. In the appeal preferred before the learned CIT (A), the first appellate authority accepted the contentions made by the assessee that it is eligible for exemption from deduction of tax at source under section 194A

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

In the result, appeal filed by the Revenue and the cross objections filed by the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.68/Viz/2021 (ननधधारण वर्ा / Assessment Year : 2014-15) Asst.Commissioner Of Vs. M/S. Kanakamahalakshmi Co- Income Tax Operative Bank Ltd., Circle-1(1) D.No.49-34-22, Main Road, Visakhapatnam Akkayyapalem, Visakhapatnam [Pan : Aacft 6489 J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co No.59/Viz/2021 (Arising Out Of Ita No.68/Viz/2021) (ननधधारण वर्ा / Assessment Year : 2014-15) M/S. Kanakamahalakshmi Co- Vs. Asst.Commissioner Of Operative Bank Ltd., Income Tax D.No.49-34-22, Main Road, Circle-1(1) Akkayyapalem, Visakhapatnam Visakhapatnam [Pan : Aacft 6489 J] अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri Mn Murthy Naik, Cit, Dr सुनवधई की तधरीख / Date Of Hearing : 28.02.2022 घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2022 O R D E R

1) shall not apply to such income credited or paid by a cooperative society. The Assessing Officer has considered the explanation of the assessee and observed that a plain reading of section 194A(3)(i)(b) clearly mandates that the requirement to deduct TDS and therefore the claim of the assessee is covered by exemption under section 194A

THE VISAKHAPATNAM CO-OPERATIVE BANK LTD,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) Acit, Circle-1(1), Vs. M/S. The Visakhapatnam Visakhapatnam. Co-Operative Bank Ltd., Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) C.O.No. 58/Viz/2017 (Ita No. 308/Viz/2017) (Asst. Year : 2013-14) M/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent)

1) read with the provisions ofSec. 194A(3)(i)(b) and Sec. 194A (3) (viia) (b), a co-operative bank is required to deduct tax from interest payment on time deposits if the amount of such payment exceeds the threshold limit. 7. The Ld.CIT(A)-l. Vsp. ought to have appreciated that specific provisions of tax deduction provided u/s.194A

THE ASST. CIT,, VISAKHAPATNAM vs. THE VISAKHAPATNAM CO -OPERATIVE BANK LIMITD,, VISAKHAPATNAM

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) Acit, Circle-1(1), Vs. M/S. The Visakhapatnam Visakhapatnam. Co-Operative Bank Ltd., Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent) C.O.No. 58/Viz/2017 (Ita No. 308/Viz/2017) (Asst. Year : 2013-14) M/S. The Visakhapatnam Vs. Acit, Circle-1(1), Co-Operative Bank Ltd., Visakhapatnam. Near Town Kotha Road, Main Road, Visakhapatnam. Pan No. Aaaat 0844 L (Appellant) (Respondent)

1) read with the provisions ofSec. 194A(3)(i)(b) and Sec. 194A (3) (viia) (b), a co-operative bank is required to deduct tax from interest payment on time deposits if the amount of such payment exceeds the threshold limit. 7. The Ld.CIT(A)-l. Vsp. ought to have appreciated that specific provisions of tax deduction provided u/s.194A

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

In the result, appeals of the revenue as well as the cross objections of the assessee are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.453/Viz/2019 & 454/Viz/2019 (निर्धारण वर्ा/Assessment Year : 2014-15 & 2015-16) Dy.Commissioner Of Income Tax Vs. The Maharaja Co-Operative Circle-1(1) Urban Bank Ltd Visakhapatnam D.No.49-9-14, Dwaraka Nagar Ganta Arcade Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No. 146/Viz/2019 & 147/Viz/2019 Arising Out Of I.T.A.No.453/Viz/2019 & 454/Viz/2019) (निर्धारण वर्ा/Assessment Year : 2014-15 & 2015-16 Respectively) The Maharaja Co-Operative Urban Vs. Dy.Commissioner Of Bank Ltd Income Tax D.No.49-9-14, Dwaraka Nagar Circle-1(1) Ganta Arcade Visakhapatnam Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Cit, Dr निर्धाऩरती की ओर से / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 09.12.2019 घोर्णध की तधरीख/Date Of Pronouncement : 18.12.2019

1)TMI 743-ITAT-Panaji. Further, the AO is of the view that the amendment to section 194A of the Act vide Finance Act, 2015 is clarificatory and therefore retrospective in nature. The Ld.CIT(A) followed the order of this Tribunal in I.T.A. No.211 & 212/Viz/2018 dated 17.08.2018 in the assessee’s own case and allowed the appeal of the assessee

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

In the result, appeals of the revenue as well as the cross objections of the assessee are dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.453/Viz/2019 & 454/Viz/2019 (निर्धारण वर्ा/Assessment Year : 2014-15 & 2015-16) Dy.Commissioner Of Income Tax Vs. The Maharaja Co-Operative Circle-1(1) Urban Bank Ltd Visakhapatnam D.No.49-9-14, Dwaraka Nagar Ganta Arcade Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No. 146/Viz/2019 & 147/Viz/2019 Arising Out Of I.T.A.No.453/Viz/2019 & 454/Viz/2019) (निर्धारण वर्ा/Assessment Year : 2014-15 & 2015-16 Respectively) The Maharaja Co-Operative Urban Vs. Dy.Commissioner Of Bank Ltd Income Tax D.No.49-9-14, Dwaraka Nagar Circle-1(1) Ganta Arcade Visakhapatnam Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Cit, Dr निर्धाऩरती की ओर से / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 09.12.2019 घोर्णध की तधरीख/Date Of Pronouncement : 18.12.2019

1)TMI 743-ITAT-Panaji. Further, the AO is of the view that the amendment to section 194A of the Act vide Finance Act, 2015 is clarificatory and therefore retrospective in nature. The Ld.CIT(A) followed the order of this Tribunal in I.T.A. No.211 & 212/Viz/2018 dated 17.08.2018 in the assessee’s own case and allowed the appeal of the assessee

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

In the result, appeals of the revenue are partly allowed for statistical purpose and the cross objections of the assessee are allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst.Years :2012-13 & 2013-14) Asst.Commissioner Of Vs. The Maharaja Co-Operative Income Tax, Urban Bank Ltd. Central Circle-1 49-9-14, Ganta Arcade Visakhapatnam Dwarakanagar Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos. 32 & 33/Viz/2018 Arising Out Of I.T.A.Nos.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst. Years : 2012-13 & 2013-14) The Maharaja Co-Operative Urban Vs. Asst.Commissioner Of Bank Ltd. Income Tax, 49-9-14, Ganta Arcade Central Circle-1 Dwarakanagar Visakhapatnam Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Shri Deba Kumar Sonowal, Dr निर्ााररती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar सुिवाई की तारीख / Date Of Hearing : 08.08.2018 घोषणा की तारीख/Date Of Pronouncement : 17.08.2018

1),VSP/2016-17 dated 15.02.2018 and the cross objections filed by the assessee for the assessment years 2012-13 & 2013-14. 2. The Revenue has raised 14 grounds in total and during the appeal hearing the Ld.DR submitted that all the grounds of appeal are related to three issues representing the ‘interest on share capital’, disallowance

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

In the result, appeals of the revenue are partly allowed for statistical purpose and the cross objections of the assessee are allowed for statistical purpose

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst.Years :2012-13 & 2013-14) Asst.Commissioner Of Vs. The Maharaja Co-Operative Income Tax, Urban Bank Ltd. Central Circle-1 49-9-14, Ganta Arcade Visakhapatnam Dwarakanagar Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos. 32 & 33/Viz/2018 Arising Out Of I.T.A.Nos.211 & 212 /Viz/2018 (धििाारण िर्ा/Asst. Years : 2012-13 & 2013-14) The Maharaja Co-Operative Urban Vs. Asst.Commissioner Of Bank Ltd. Income Tax, 49-9-14, Ganta Arcade Central Circle-1 Dwarakanagar Visakhapatnam Visakhapatnam [Pan : Aaaat4196K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Shri Deba Kumar Sonowal, Dr निर्ााररती की ओर से/ Assessee By : Shri G.V.N.Hari, Ar सुिवाई की तारीख / Date Of Hearing : 08.08.2018 घोषणा की तारीख/Date Of Pronouncement : 17.08.2018

1),VSP/2016-17 dated 15.02.2018 and the cross objections filed by the assessee for the assessment years 2012-13 & 2013-14. 2. The Revenue has raised 14 grounds in total and during the appeal hearing the Ld.DR submitted that all the grounds of appeal are related to three issues representing the ‘interest on share capital’, disallowance

M/S MAATHA FINANCIERS,,PALAKOL vs. THE ITO,, PALAKOL

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. Maatha Financiers, Vs. Ito, Ward-1, 13-5-42, Canal Road, Palakol. Palakol, W.G. District. Pan No. Aalfm 2319 K (Appellant) (Respondent)

194A of the Act in respect of the payment of interest income, whether such expenditure otherwise allowable can be allowed in view of Section 40(a)(ia) of the Act. Section 40(a)(ia) clearly says that the tax is deductible at source. The fact remains that the assessee is making similar payment to the very recipient in the earlier

CHALASANI VENKAT,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

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

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleito, Ward-2(2), Vs. Chalasani Venkat, Vijayawada. D.No. 40-10-2B, Pent House, Ramapriya Residency, Mogalrajapuram, Vijayawada. Pan No. Ahvpc 1673 P (Appellant) (Respondent)

194A TDS has to be deducted. As, no TDS is deducted, the entire amount is disallowed under section 40(a)(ia) of the Act. We find that the assessee has not claimed any expenditure in the profit & loss account, therefore, the disallowance made by the Assessing Officer under section 40(a)(ia) is not warranted. We find that

SRI LAKSHMI GENERAL STORES,GUNTUR vs. INCOME TAX OFFICER, WARD-1(1), GUNTUR

In the result, appeal of the assessee in ITA

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

disallowing TDS claim, even though the assessee has explained the case with relevant evidences that the entire income pertains to TDS deducted under Sections 194Q and 194A, has been offered to tax in the return of income filed for the year under consideration. The learned counsel for the assessee further submitted that, the assessee is only a commission agent working

SRI LAKSHMI GENERAL STORES,GUNTUR vs. INCOME TAX OFFICER, WARD-1(1), GUNTUR

In the result, appeal of the assessee in ITA

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

disallowing TDS claim, even though the assessee has explained the case with relevant evidences that the entire income pertains to TDS deducted under Sections 194Q and 194A, has been offered to tax in the return of income filed for the year under consideration. The learned counsel for the assessee further submitted that, the assessee is only a commission agent working

SRI SEETARAMANJANENYA SORTEX,KAKINADA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.147/Viz/2023 (ननधधारण वर्ा / Assessment Year : 2018-19) Sri Seetaramanjaneya Sortex Vs. Principal Commissioner Of 1-2015/A, Uppalanka Income Tax Kakinada Visakhapatnam [Pan : Abdfs4641P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

disallowed. 1. Commission Rs.86,16,730 2. Contract Rs.4,46,16,749 3. Prof. Charges Rs.14,54,820 The Ld.PCIT held that the assessment order u/s 143(3) r.w.s. 143(3A) & 143(3B) of the Act dated 12.03.2021 for the A.Y.2018-19 was prima facie erroneous in law and prejudicial to the interest of revenue, therefore, proposed for revision

THE KRISHNA DISTRICT MILK PRODUCERS MUTUALLY AIDED CO-OPERATIVE UNION LIMITED,VIJAYAWADA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), , VIJAYAWADA

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

1. CIT Vs. Kribhco (2012) 23 Taxmann.com 312 (Delhi) 2. Punjab State Co-operative Milk Producers Federation Ltd. Vs. CIT & Another (2011) 336 ITR 495 (Punjab & Haryana High Court) 3. CIT Vs. Doaba Co-operative Sugar Mills Ltd. (1998) 230 ITR 774 (Punjab & Haryana) 4. ITO Vs. Punjab State Co-operative Milk Producers Federation

THE KRISHNA DISTRICT MILK PRODUCERS MUTUALLY AIDED CO-OPERATIVE UNION LIMITED,VIJAYAWADA vs. THE PR. COMMISSIONER OF INCOME TAX, , VIJAYAWADA

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

1. CIT Vs. Kribhco (2012) 23 Taxmann.com 312 (Delhi) 2. Punjab State Co-operative Milk Producers Federation Ltd. Vs. CIT & Another (2011) 336 ITR 495 (Punjab & Haryana High Court) 3. CIT Vs. Doaba Co-operative Sugar Mills Ltd. (1998) 230 ITR 774 (Punjab & Haryana) 4. ITO Vs. Punjab State Co-operative Milk Producers Federation

SANAPALA SATYANARAYANA,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), , VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.63/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2013-14) Sanapala Satyanarayana Vs. Asst. Commissioner Of D.No.11-8-25 Income Tax Plot No.21, Dasapalla Hills Circle-1(1) Visakhapatnam Visakhapatnam [Pan : Aowps4101A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.Manoj Kumar, Dr सुनवधई की तधरीख / Date Of Hearing : 04.11.2019 घोर्णध की तधरीख/Date Of Pronouncement : 15.11.2019 आदेश /O R D E R

1) Visakhapatnam Visakhapatnam [PAN : AOWPS4101A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant by : Shri G.V.N.Hari, AR प्रत्यधथी की ओर से / Respondent by : Shri D.Manoj Kumar, DR सुनवधई की तधरीख / Date of Hearing : 04.11.2019 घोर्णध की तधरीख/Date of Pronouncement : 15.11.2019 आदेश /O R D E R Per Shri D.S.Sunder Singh, Accountant Member : This appeal is filed

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

194A of the Act and accordingly, the Ld. AO disallowed the expenditure claimed at Rs. 56,34,856/- and added back to the total income of the assessee. 7 6. The Ld. AO also made disallowance U/s. 14A of the Act to the extent of Rs.19,27,456/- having not satisfied with the assessee’s explanation that though the assessee

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, VISAKHAPATNAM vs. ATR WAREHOUSING PRIVATE LIMITED, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

194A of the Act and accordingly, the Ld. AO disallowed the expenditure claimed at Rs. 56,34,856/- and added back to the total income of the assessee. 7 6. The Ld. AO also made disallowance U/s. 14A of the Act to the extent of Rs.19,27,456/- having not satisfied with the assessee’s explanation that though the assessee