INCOME TAX OFFICER, WARD-1(2), VIJAYAWADA vs. BOMMISETTY VENKATA SIVA KUMAR, VIJAYAWADA
In the result, appeal filed by the Revenue is dismissed
ITA 238/VIZ/2023[2014-15]Status: DisposedITAT Visakhapatnam29 Feb 2024AY 2014-15
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.238/Viz/2023 ("नधा"रण वष" / Assessment Year :2014-15) The Income Tax Officer, Vs. Sri Bomisetty Venkata Siva Ward-1(1), 2Nd Floor, Kumar, Prop. M/S. Bommisetty C.R. Buildings, Mg Road, Sambasiva Rao Trading Vijayawada – 522002. Company, 1-4-221-2, Rtc Workshop Road, Bhavanipuram, Vijayawada-522012. Pan: Addpb 9483 C (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Assessee By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Revenue By : Dr. Satyasai Rath, Cit-Dr
For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 143(2)Section 143(3)Section 40A(3)
disallowed
80% of the cash purchases made by the assessee from 331 farmers by
invoking the provisions of section 40A(3) of the Act. However, the Ld. AO
allowed 20% of the purchases. The Ld. AR further argued that the Ld.
AO does not have discretionary power to bifurcate the purchases while
applying the provisions of section
