NS HEALTHCARE SERVICES PRIVATE LIMITED,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VIJAYAWADA

In the results, appeals filed by the revenue in ITA Nos

Bench: Shri Veeravalli Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

disallowance of Rs 4,46,88,994/-, by accepting that this amount was utilised to make cash payments in its business. The Ld. CIT(A) ought to have considered the fact that the Directors of the assessee company have admitted in their respective statements recorded during the course of Survey operation u/s 133Aaccepting that the Drawings were received by them

DEPUTY COMMISSIONER OF INCOME TAX, VIJAYAWADA vs. NS HEALTHCARE SERVICES PRIVATE LIMITED, VIJAYAWADA

In the results, appeals filed by the revenue in ITA Nos

Bench: Shri Veeravalli Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

disallowance of Rs 4,46,88,994/-, by accepting that this amount was utilised to make cash payments in its business. The Ld. CIT(A) ought to have considered the fact that the Directors of the assessee company have admitted in their respective statements recorded during the course of Survey operation u/s 133Aaccepting that the Drawings were received by them

DEPUTY COMMISSIONER OF INCOME TAX, VIJAYAWADA vs. NS HEALTHCARE SERVICES PRIVATE LIMITED, VIJAYAWADA

In the results, appeals filed by the revenue in ITA Nos

Bench: Shri Veeravalli Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

disallowance of Rs 4,46,88,994/-, by accepting that this amount was utilised to make cash payments in its business. The Ld. CIT(A) ought to have considered the fact that the Directors of the assessee company have admitted in their respective statements recorded during the course of Survey operation u/s 133Aaccepting that the Drawings were received by them

NS HEALTHCARE SERVICES PRIVATE LIMITED,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, VIJAYAWADA

In the results, appeals filed by the revenue in ITA Nos

Bench: Shri Veeravalli Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

disallowance of Rs 4,46,88,994/-, by accepting that this amount was utilised to make cash payments in its business. The Ld. CIT(A) ought to have considered the fact that the Directors of the assessee company have admitted in their respective statements recorded during the course of Survey operation u/s 133Aaccepting that the Drawings were received by them

NS HEALTHCARE SERVICES PRIVATE LIMITED,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, VIJAYAWADA

In the results, appeals filed by the revenue in ITA Nos

Bench: Shri Veeravalli Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

disallowance of Rs 4,46,88,994/-, by accepting that this amount was utilised to make cash payments in its business. The Ld. CIT(A) ought to have considered the fact that the Directors of the assessee company have admitted in their respective statements recorded during the course of Survey operation u/s 133Aaccepting that the Drawings were received by them

NS HEALTHCARE SERVICES PRIVATE LIMITED,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, VIJAYAWADA

In the results, appeals filed by the revenue in ITA Nos

Bench: Shri Veeravalli Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

disallowance of Rs 4,46,88,994/-, by accepting that this amount was utilised to make cash payments in its business. The Ld. CIT(A) ought to have considered the fact that the Directors of the assessee company have admitted in their respective statements recorded during the course of Survey operation u/s 133Aaccepting that the Drawings were received by them

DCIT, CENTRAL CIRCLE-1, VISAKHAPATNAM vs. GVA INDUSTRIES PVT. LTD., DHAMTARI

disallowed and brought to tax.\n14. The Ld. CIT(A) ought to have considered the decision of Hon'ble\nSupreme Court in the case of Sri B Kishore Kumar Vs DCIT (2015) 62\nTaxmann.com215/234 Taxmann 771, where in it was held that even a sworn\nstatement shall also constitute incriminating material to dislodge any earlier\nfinding for the purpose

DCIT, CENTRAL CIRCLE-1, VISAKHAPATNAM vs. GVA INDUSTRIES PVT. LTD., DHAMTARI

disallowed and brought to tax.\n14. The Ld. CIT(A) ought to have considered the decision of Hon'ble\nSupreme Court in the case of Sri B Kishore Kumar Vs DCIT (2015) 62\nTaxmann.com215/234 Taxmann 771, where in it was held that even a sworn\nstatement shall also constitute incriminating material to dislodge any earlier\nfinding for the purpose

DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD, GUNTUR

disallowed\n10% of total bogus purchases thereby confirmed the deletion of balance of\nRs.18,44,787/-. The Ld. CIT(A), thus partly allowed the appeal of the assessee.\n11. On being aggrieved by the order of the Ld. CIT(A), revenue is in appeal\nbefore us by raising following grounds of appeal: .\n"1.\nThe order of the Ld.ClT

SANTOSH AGRAWAL,CHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRLCE-1, VISAKHAPATNAM

801 (SC)] and CIT v. Durga prasad\nMore [(1971) 82 ITR 540 (SC)]. He therefore submitted that the Ld. CIT(A)\nwithout considering the nature of sham transactions entered into by the assessee has\ngranted relief to the assessee and hence the deletion of addition cannot be justified.\n15. On the other hand, Ld. Authorised Representative [hereinafter “Ld.AR"]\nsubmitted that

ASHOK KUMAR AGRAWAL,VISAKHAPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

801 (SC)] and CIT v. Durga prasad\nMore [(1971) 82 ITR 540 (SC)]. He therefore submitted that the Ld. CIT(A)\nwithout considering the nature of sham transactions entered into by the assessee has\ngranted relief to the assessee and hence the deletion of addition cannot be justified.\n\n15. On the other hand, Ld. Authorised Representative [hereinafter “Ld.AR”]\nsubmitted

DCIT, CENTRAL CIRCLE-1, VISAKHAPATNAM vs. GVA INDUSTRIES PVT. LTD., DHAMTARI

disallowed and brought to tax.\n14. The Ld. CIT(A) ought to have considered the decision of Hon'ble\nSupreme Court in the case of Sri B Kishore Kumar Vs DCIT (2015) 62\nTaxmann.com215/234 Taxmann 771, where in it was held that even a sworn\nstatement shall also constitute incriminating material to dislodge any earlier\nfinding for the purpose

GVA INDUSTRIES PRIVATE LIMITED,CHHATTISGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

disallowed and brought to tax.\n14. The Ld. CIT(A) ought to have considered the decision of Hon'ble\nSupreme Court in the case of Sri B Kishore Kumar Vs DCIT (2015) 62\nTaxmann.com215/234 Taxmann 771, where in it was held that even a sworn\nstatement shall also constitute incriminating material to dislodge any earlier\nfinding for the purpose

GVA INDUSTRIES PRIVATE LIMITED,CHHATTISGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

disallowed and brought to tax.\n14. The Ld. CIT(A) ought to have considered the decision of Hon'ble\nSupreme Court in the case of Sri B Kishore Kumar Vs DCIT (2015) 62\nTaxmann.com215/234 Taxmann 771, where in it was held that even a sworn\nstatement shall also constitute incriminating material to dislodge any earlier\nfinding for the purpose

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD., GUNTUR

disallowed\n10% of total bogus purchases thereby confirmed the deletion of balance of\nRs.18,44,787/-. The Ld. CIT(A), thus partly allowed the appeal of the assessee.\n11. On being aggrieved by the order of the Ld. CIT(A), revenue is in appeal\nbefore us by raising following grounds of appeal: .\n\"1. The order of the Ld.ClT

GVA INDUSTRIES PRIVATE LIMITED,CHHATTISGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

disallowed and brought to tax.\n14. The Ld. CIT(A) ought to have considered the decision of Hon'ble\nSupreme Court in the case of Sri B Kishore Kumar Vs DCIT (2015) 62\nTaxmann.com215/234 Taxmann 771, where in it was held that even a sworn\nstatement shall also constitute incriminating material to dislodge any earlier\nfinding for the purpose

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section u/s 36(1)(iii), when the corresponding assets were not put to use. 7. The Ld. CIT(A) is not justified in allowing relief towards proportionate disallowance of interest u/s. 36(1)(iii) of the Income-tax Act, 1961, amounting to Rs 13,98,37,651/-by ignoring the Sworn statements recorded u/s 132(4) from the Main promoter

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section u/s 36(1)(iii), when the corresponding assets were not put to use. 7. The Ld. CIT(A) is not justified in allowing relief towards proportionate disallowance of interest u/s. 36(1)(iii) of the Income-tax Act, 1961, amounting to Rs 13,98,37,651/-by ignoring the Sworn statements recorded u/s 132(4) from the Main promoter