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

35D, 35DD or 35DDA of the Act. Similarly, section 72AB deals with the carry forward and set off of accumulated losses and depreciation in the case of business re-organization of the cooperative banks. He has observed that as per sub-section 7 of section 72AB of the Act, the accumulated losses would have been entitled to carry forward

THE KANAKAMAHALAKSHMI CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

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

35D, section 35DD or section 35DDA. Similarly, section 72AB deals with the carry forward and set off of the accumulated loss and unabsorbed depreciation in case of business reorganization of cooperative banks. Sub-section(7) of section 72AB of the IT Act states as under: (a) accumulated loss" means so much of loss of the amalgamating cooperative bank

THE KANAKAMAHALAKSHMI CO-OPERATIVE BANK LIMITED,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

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

35D, section 35DD or section 35DDA. Similarly, section 72AB deals with the carry forward and set off of the accumulated loss and unabsorbed depreciation in case of business reorganization of cooperative banks. Sub-section(7) of section 72AB of the IT Act states as under: (a) accumulated loss" means so much of loss of the amalgamating cooperative bank

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)

disallowing the amortization of loss on account of merger of Ongole Cooperative Urban Bank and Ramachandrapuram Cooperative Urban Bank amounting to Rs.76,29,369. 3. Without prejudice to the above, the learned Commissioner of Income Tax (Appeals) ought to have allowed depreciation by treating the transaction of merger as one of goodwill acquired by the appellant. 4. For any other

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)

disallowing the amortization of loss on account of merger of Ongole Cooperative Urban Bank and Ramachandrapuram Cooperative Urban Bank amounting to Rs.76,29,369. 3. Without prejudice to the above, the learned Commissioner of Income Tax (Appeals) ought to have allowed depreciation by treating the transaction of merger as one of goodwill acquired by the appellant. 4. For any other

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAMAHENDRAVARAM vs. ANDHRA PAPER LIMITED, RAJAMAHENDRAVARAM

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. Nos. 162/Viz/2022 & 189/Viz/2022 ("नधा"रणवष"/ Assessment Years : 2012-13 & 2013-14) Deputy Commissioner Of Income Vs. M/S. Andhra Paper Limited Tax, Circle-1, (M/S. International Paper Rajamahendravaram. Appm Ltd), Sri Ram Nagar, Rajamahendravaram. Pan: Aact 8849 D (अपीलाथ"/ Appellant) (""यथ"/ Respondent) Co Nos: 22 & 23/Viz/2022 (In आयकरअपीलसं./ I.T.A. Nos. 162/Viz/2022 & 189/Viz/2022) ("नधा"रणवष"/ Assessment Years : 2012-13 & 2013-14) M/S. Andhra Paper Limited Vs. Deputy Commissioner Of (M/S. International Paper Appm Income Tax, Circle-1, Ltd), Rajamahendravaram. Sri Ram Nagar, Rajamahendravaram. Pan: Aact 8849 D (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri K. Chakrapani ""याथ"क"ओरसे/ Revenue By : Sri Mn Murthy Naik, Cit-Dr

35D - Rs. 5,14,730/- (iii) Unabsorbed depreciation - Rs. 48,78,000/- (iv) Disallowance of Miscellaneous Expenses - Rs. 36,47,979/- (v) Disallowance of sundry creditors - Rs. 30,35,000/- (vi) Disallowance of consumption of Stores and others - Rs. 7,11,06,000/- (vii) Disallowance of repairs & - Rs. 5,61,78,040/- Maintenance (viii) Disallowance

DEPUTY COMMISIONER OF INCOME TAX, RAJAHMAHENDRAVARAM vs. ANDHRA PAPER LIMITED, RAJAHMAHENDRAVARAM

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

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. Nos. 162/Viz/2022 & 189/Viz/2022 ("नधा"रणवष"/ Assessment Years : 2012-13 & 2013-14) Deputy Commissioner Of Income Vs. M/S. Andhra Paper Limited Tax, Circle-1, (M/S. International Paper Rajamahendravaram. Appm Ltd), Sri Ram Nagar, Rajamahendravaram. Pan: Aact 8849 D (अपीलाथ"/ Appellant) (""यथ"/ Respondent) Co Nos: 22 & 23/Viz/2022 (In आयकरअपीलसं./ I.T.A. Nos. 162/Viz/2022 & 189/Viz/2022) ("नधा"रणवष"/ Assessment Years : 2012-13 & 2013-14) M/S. Andhra Paper Limited Vs. Deputy Commissioner Of (M/S. International Paper Appm Income Tax, Circle-1, Ltd), Rajamahendravaram. Sri Ram Nagar, Rajamahendravaram. Pan: Aact 8849 D (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri K. Chakrapani ""याथ"क"ओरसे/ Revenue By : Sri Mn Murthy Naik, Cit-Dr

35D - Rs. 5,14,730/- (iii) Unabsorbed depreciation - Rs. 48,78,000/- (iv) Disallowance of Miscellaneous Expenses - Rs. 36,47,979/- (v) Disallowance of sundry creditors - Rs. 30,35,000/- (vi) Disallowance of consumption of Stores and others - Rs. 7,11,06,000/- (vii) Disallowance of repairs & - Rs. 5,61,78,040/- Maintenance (viii) Disallowance

KUNDA VENKATESWARA RAO,,TIRUVURU vs. THE CIT (A), KURNOOL

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.433/Viz/2016 (धििाारण िर्ा/Assessment Year:2006-07) Kunda Venkateswara Rao Vs. Income Tax Officer 125-273, Ashok Nagar Ward-1(3) Tiruvuru Vijayawada [Pan :Aaehk4876N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri B.V.S.Chalapathi Rao, Ar प्रत्यार्थी की ओर से/ Respondent By : Shri P.S.Murthy, Dr सुनवाई की तारीख / Date Of Hearing : 31.07.2018 घोषणा की तारीख/Date Of Pronouncement : 03.08.2018

disallowed the balance amount. 3. Aggrieved by the order of the AO, the assessee went on appeal before the CIT(A) and the Ld.CIT(A) confirmed the order of the AO. 4. Against the order of the Ld.CIT(A), the assessee carried the matter to the Tribunal. During the appeal hearing, the Ld.AR argued that the amount of Rs.3