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5 results for “disallowance”+ Section 194A(3)(viia)clear

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Key Topics

Section 153A14Section 143(2)8Section 686Section 142(1)5Addition to Income5Section 143(3)4Section 1324Section 1394Unexplained Cash Credit

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

ITA 68/VIZ/2021[2014-15]Status: DisposedITAT Visakhapatnam16 Mar 2022AY 2014-15

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

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri MN Murthy Naik, CIT, DR
Section 16(1)

viia) of sub-section(3) of section 194A exempts from the requirement of TDS such income credited or paid in respect of deposits (other than time-deposits made on or after 1st July, 1995) with a cooperative society engaged in carrying on the business of banking. Representations have been received in the Board seeking clarification as to whether a member

4
TDS4
Search & Seizure4
Section 14A2

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

In the result, appeal of the assessee is partly allowed

ITA 88/VIZ/2020[2013-14]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2013-14

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

For Appellant: Sri GVN Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 139Section 142(1)Section 143(2)Section 143(3)Section 14ASection 153ASection 194ASection 2(22)(e)Section 36(1)(iii)

194A of the Act. An addition of Rs. 44,06,653/- was added by the Ld. AO invoking the provisions of section 2(22)(e) of the Act as deemed income and liable to tax as income from other sources. Ld. AO also made addition of Rs. 2,13,211/- u/s. 36(1)(iii) being expenditure incurred towards interest

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

In the result, both the appeals filed by the Revenue are dismissed

ITA 104/VIZ/2020[2013-14]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2013-14

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. Nos. 104, 105 & 106/Viz/2020 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15 & 2015-16) Dy. Commissioner Of Income Tax, Vs. M/S. Atr Ware Housing (P) Central Circle-2, Ltd., Visakhapatnam. Visakhapatnam. Pan: Aadca 2121 Q

For Appellant: Sri G.V.N. Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 139Section 142(1)Section 143(2)Section 143(3)Section 153ASection 68

viia) of the Act. Accordingly, the Ld. AO computed the income of the assessee under normal provisions and determined the net tax payable at Rs. 49,37,72,670/- and Rs. 31,31,34,641/- under the MAT provisions and passed the assessment order on 29/12/2017 u/s. 143(3) r.w.s 153A of the Act. 4. Aggrieved by the order

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

In the result, both the appeals filed by the Revenue are dismissed

ITA 106/VIZ/2020[2015-16]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2015-16

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. Nos. 104, 105 & 106/Viz/2020 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15 & 2015-16) Dy. Commissioner Of Income Tax, Vs. M/S. Atr Ware Housing (P) Central Circle-2, Ltd., Visakhapatnam. Visakhapatnam. Pan: Aadca 2121 Q

For Appellant: Sri G.V.N. Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 139Section 142(1)Section 143(2)Section 143(3)Section 153ASection 68

viia) of the Act. Accordingly, the Ld. AO computed the income of the assessee under normal provisions and determined the net tax payable at Rs. 49,37,72,670/- and Rs. 31,31,34,641/- under the MAT provisions and passed the assessment order on 29/12/2017 u/s. 143(3) r.w.s 153A of the Act. 4. Aggrieved by the order

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

In the result, both the appeals filed by the Revenue are dismissed

ITA 105/VIZ/2020[2014-15]Status: DisposedITAT Visakhapatnam21 Dec 2022AY 2014-15

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. Nos. 104, 105 & 106/Viz/2020 ("नधा"रण वष" / Assessment Years: 2013-14, 2014-15 & 2015-16) Dy. Commissioner Of Income Tax, Vs. M/S. Atr Ware Housing (P) Central Circle-2, Ltd., Visakhapatnam. Visakhapatnam. Pan: Aadca 2121 Q

For Appellant: Sri G.V.N. Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 139Section 142(1)Section 143(2)Section 143(3)Section 153ASection 68

viia) of the Act. Accordingly, the Ld. AO computed the income of the assessee under normal provisions and determined the net tax payable at Rs. 49,37,72,670/- and Rs. 31,31,34,641/- under the MAT provisions and passed the assessment order on 29/12/2017 u/s. 143(3) r.w.s 153A of the Act. 4. Aggrieved by the order