THE ACIT,, GUNTUR vs. M/S. CHATANYA GODAVARI,, GUNTUR
In the result, the appeals of the revenue are allowed
ITA 327/VIZ/2016[2011-2012]Status: DisposedITAT Visakhapatnam04 May 2018AY 2011-2012
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.326/Viz/2016 & 327/Viz/2016 (धििाारण िर्ा/Assessment Year:2010-11 & 2011-12 Respectively) Acit, Circle-2(1) Vs. M/S Chaitanya Godavari Guntur Grameena Bank 3Rd Floor, Raghu Mansion 4/1, Brodipet Guntur – 5200 002 [Pan :Aaajc0523A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection Nos.53/Viz/2016 & 54/Viz/2016 (Arising Out Of I.T.A.Nos.326/Viz/2016 & 327/Viz/2016 Respectively) (धििाारण िर्ा/Assessment Year:2010-11 & 2011-12 Respectively) M/S Chaitanya Godavari Grameena Bank Vs. Acit, Circle-2(1) 3Rd Floor, Raghu Mansion Guntur 4/1, Brodipet Guntur – 5200 002 [Pan :Aaajc0523A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) धििााररती कीओर से/ Assessee By : Shri G.V.N.Hari, Ar राजस्ि की ओर से / Revenue By : Shri T.S.N.Murthy, Dr सुििाई की तारीख / Date Of Hearing : 12.04.2018 घोषणा की तारीख/Date Of Pronouncement : 04.05.2018
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri T.S.N.Murthy, DR
Section 36(1)(vii)Section 36(1)(viia)
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ITA Nos.326 &327/Viz/2016 and CO Nos.53&54-Viz-2016
M/s Chaitanya Godavari Grammena Bank, Guntur
asset. Both the sections are interrelated and the allowance is subject to satisfactions of the terms and conditions specified in section 36(2) of the IT Act. Deduction is allowed under section36(1)(vii) if the debt is written off in the books