INCOMETAX OFFICER, WARD-3(3), VISAKHAPATNAM vs. SARIPALLI VIMALA DEVI, VISAKHAPATNAM

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.294/Viz/2023 (निर्धारण वर्ा/ Assessment Year : 2015-16) Income Tax Officer - Ward-3(3) Vs. Saripalli Vimala Devi Iind Floor Flat No. 103, Sun N Sea Apartments East Point Colony Infinity Towers Visakhapatnam - 530017 Shankarmatam Road, Santhipuram Visakhapatnam - 530016 Pan: Bddps0883J (अपीलधर्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधर्थी की ओरसे/ Assessee By : Sri C. Kameswara Rao, Ar प्रत्यधर्थीकीओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr

220/- respectively against the Doc. No. 98/2004 and 3772/2004. The property was purchased on 9/1/2004 and 30/08/2004 respectively. Subsequently, during the year 2007 the property was mortgaged with State Bank of India against the term loan of Rs. 3 Crs granted to M/s. Amaravathi Inn Pvt Ltd., wherein the assessee and her late husband were Directors. Further, another term loan

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

2)(iii), the disallowance required to be made is 0.5% of the investments which the Assessing Officer rightly disallowed. Therefore, we set aside the order of the ld.CIT(A) and uphold the addition made by the Assessing Officer. Accordingly, appeal of the Revenue on this ground is allowed. C.O.No.13/VIZ/2016 A.Y.2007-08 29 The assessee filed cross objections or the A.Y.2007-08

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

2)(iii), the disallowance required to be made is 0.5% of the investments which the Assessing Officer rightly disallowed. Therefore, we set aside the order of the ld.CIT(A) and uphold the addition made by the Assessing Officer. Accordingly, appeal of the Revenue on this ground is allowed. C.O.No.13/VIZ/2016 A.Y.2007-08 29 The assessee filed cross objections or the A.Y.2007-08

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

2)(iii), the disallowance required to be made is 0.5% of the investments which the Assessing Officer rightly disallowed. Therefore, we set aside the order of the ld.CIT(A) and uphold the addition made by the Assessing Officer. Accordingly, appeal of the Revenue on this ground is allowed. C.O.No.13/VIZ/2016 A.Y.2007-08 29 The assessee filed cross objections or the A.Y.2007-08

M/S. vs. R INFOTECH ,,VISAKHAPATNAMVS.THE ITO ,, VISAKHAPATNAM

In the result, the appeals filed by the assessee are allowed

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

2,50,220/- on 29.8.2008. Subsequently, the assessment was reopened u/s 148 of the Act on 29.2.2012 for verification of the assessee’s eligibility regarding the deduction claimed by the assessee u/s 10B of the Act. The assessee had claimed exemption of ` 53,07,039/- u/s 10B of the Act for the A.Y.2008-09. For the A.Y2010-11 the assessee has claimed

M/S. vs. R INFOTECH ,,VISAKHAPATNAMVS.THE ITO ,, VISAKHAPATNAM

In the result, the appeals filed by the assessee are allowed

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

2,50,220/- on 29.8.2008. Subsequently, the assessment was reopened u/s 148 of the Act on 29.2.2012 for verification of the assessee’s eligibility regarding the deduction claimed by the assessee u/s 10B of the Act. The assessee had claimed exemption of ` 53,07,039/- u/s 10B of the Act for the A.Y.2008-09. For the A.Y2010-11 the assessee has claimed

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

section 68 of the Act. In response the assessee, in addition to detailed submissions has also submitted the confirmation letters from the respective creditors. Not satisfied / convinced with the submissions of the assessee, the Ld. AO made addition of Rs. 2 Crs treated the same as unexplained cash credit u/s. 68 of the Act and also disallowed

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. ANUMOLU TIRUPATI RAYUDU(HUF),, VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

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

section 68 of the Act. In response the assessee, in addition to detailed submissions has also submitted the confirmation letters from the respective creditors. Not satisfied / convinced with the submissions of the assessee, the Ld. AO made addition of Rs. 2 Crs treated the same as unexplained cash credit u/s. 68 of the Act and also disallowed

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

section 68 of the Act. In response the assessee, in addition to detailed submissions has also submitted the confirmation letters from the respective creditors. Not satisfied / convinced with the submissions of the assessee, the Ld. AO made addition of Rs. 2 Crs treated the same as unexplained cash credit u/s. 68 of the Act and also disallowed

SINDHURA HOSPITAL,SRIKAKULAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(1), VISAKHAPATNAM

Bench: Us:

Section 143(3) of the Income Tax Act, 1961 (for 2 Sindhura Hospital short, “the Act”) dated 11.08.2017 for A.Y. 2015-16. The assessee firm has assailed the impugned order on the following grounds of appeal before us: “1. The order of the learned Commissioner of Income Tax (Appeals) is contrary to the facts and also the law applicable

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)

disallowing expenses claimed by the assessee of Rs.1,63,76,644/-. The assessee-company was incorporated on 27/06/1978 in the name of Sri Vasavi Jute Twine Mills Pvt. Ltd. and was engaged in the business of manufacturing jute. Subsequently, the assessee-company got amalgamated with M/s.Sri Lakshmi Jute Twine Mills under the scheme of amalgamation and subsequently, it got engaged

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)

disallowing expenses claimed by the assessee of Rs.1,63,76,644/-. The assessee-company was incorporated on 27/06/1978 in the name of Sri Vasavi Jute Twine Mills Pvt. Ltd. and was engaged in the business of manufacturing jute. Subsequently, the assessee-company got amalgamated with M/s.Sri Lakshmi Jute Twine Mills under the scheme of amalgamation and subsequently, it got engaged

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)

disallowing expenses claimed by the assessee of Rs.1,63,76,644/-. The assessee-company was incorporated on 27/06/1978 in the name of Sri Vasavi Jute Twine Mills Pvt. Ltd. and was engaged in the business of manufacturing jute. Subsequently, the assessee-company got amalgamated with M/s.Sri Lakshmi Jute Twine Mills under the scheme of amalgamation and subsequently, it got engaged

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)

disallowing expenses claimed by the assessee of Rs.1,63,76,644/-. The assessee-company was incorporated on 27/06/1978 in the name of Sri Vasavi Jute Twine Mills Pvt. Ltd. and was engaged in the business of manufacturing jute. Subsequently, the assessee-company got amalgamated with M/s.Sri Lakshmi Jute Twine Mills under the scheme of amalgamation and subsequently, it got engaged

DEVI SEA FOODS LIMITED,VISAKHAPATNAM vs. DCIT, CIRCLE-3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.75/Viz/2022 ("नधा"रणवष"/ Assessment Year: 2017-18) M/S. Devi Sea Foods Limited, Vs. Deputy Commissioner Of Visakhapatnam. Income Tax, Pan: Aabcd 0248 B Circle-3(1), Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri D. Anand, Advocate ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

disallowance u/s. 14A for Rs. 13,20,907/- in his draft assessment order U/s. 144C of the Act. Aggrieved by the order of the Ld. AO, the assessee filed objections before the Ld. DRP-1, Bengaluru and challenged the upward adjustments. In the mean time the assessee also filed a rectification application on 04.03.2021 before the TPO. The TPO considering

ACIT, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

220/-. 6. During the course of the assessment proceedings, the A.O based on the aforesaid information that was shared with him by the JCIT(OSD), Central Circle 7(2), Mumbai, called upon the assessee company to put forth an explanation as to why the impugned loan of Rs. 1 crore received from M/s Aneri Fincap Vedumutha Electricals India Private Limited

THE INCOME TAX OFFICER, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

220/-. 6. During the course of the assessment proceedings, the A.O based on the aforesaid information that was shared with him by the JCIT(OSD), Central Circle 7(2), Mumbai, called upon the assessee company to put forth an explanation as to why the impugned loan of Rs. 1 crore received from M/s Aneri Fincap Vedumutha Electricals India Private Limited

ACIT, CIRCLE-1(1),, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

220/-. 6. During the course of the assessment proceedings, the A.O based on the aforesaid information that was shared with him by the JCIT(OSD), Central Circle 7(2), Mumbai, called upon the assessee company to put forth an explanation as to why the impugned loan of Rs. 1 crore received from M/s Aneri Fincap Vedumutha Electricals India Private Limited

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

220/-. 6. During the course of the assessment proceedings, the A.O based on the aforesaid information that was shared with him by the JCIT(OSD), Central Circle 7(2), Mumbai, called upon the assessee company to put forth an explanation as to why the impugned loan of Rs. 1 crore received from M/s Aneri Fincap Vedumutha Electricals India Private Limited