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:

disallowed. The undersigned vide order dated 06.10.2022 has allowed the appeal of the appellant as the assessment framed u/s 153A of the Act was not based on any incriminating material. 5.4 Considering the totality of the facts & circumstances of the issue involved, the addition of Rs. 6,42,834/-, as interest expenditure, deserved to be deleted. Hence, the ground

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:

disallowed. The undersigned vide order dated 06.10.2022 has allowed the appeal of the appellant as the assessment framed u/s 153A of the Act was not based on any incriminating material. 5.4 Considering the totality of the facts & circumstances of the issue involved, the addition of Rs. 6,42,834/-, as interest expenditure, deserved to be deleted. Hence, the ground

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:

disallowed. The undersigned vide order dated 06.10.2022 has allowed the appeal of the appellant as the assessment framed u/s 153A of the Act was not based on any incriminating material. 5.4 Considering the totality of the facts & circumstances of the issue involved, the addition of Rs. 6,42,834/-, as interest expenditure, deserved to be deleted. Hence, the ground

POTLURI PHANENDRA BABU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.241 & 242/Viz/2022 ("नधा"रण वष" / Assessment Year : 2007-08 & 2012-13) Potluri Phanendra Babu, Vs. The Income Tax Officer, Visakhapatnam. Ward-3(2), Pan: Agspp 7638 K Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Respondent By : Sri On Hari Prasada Rao, Sr. Ar सुनवाई क" तार"ख / Date Of Hearing : 15/06/2023 घोषणा क" तार"ख/Date Of : 10/08/2023 Pronouncement O R D E R

survey U/s. 133A was conducted in the case of the assessee on 5/11/2013 wherein huge investment was found which was not disclosed by the assessee while filing the return of income. The case was then reopened U/s. 147 of the Act and the assessment order was passed on 31/3/2015 u/s. 143(3) r.w.s 147 of the Act determining the total

POTLURI PHANENDRA BABU,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-3(2), VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.241 & 242/Viz/2022 ("नधा"रण वष" / Assessment Year : 2007-08 & 2012-13) Potluri Phanendra Babu, Vs. The Income Tax Officer, Visakhapatnam. Ward-3(2), Pan: Agspp 7638 K Visakhapatnam. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri Gvn Hari, Ar ""याथ" क" ओर से / Respondent By : Sri On Hari Prasada Rao, Sr. Ar सुनवाई क" तार"ख / Date Of Hearing : 15/06/2023 घोषणा क" तार"ख/Date Of : 10/08/2023 Pronouncement O R D E R

survey U/s. 133A was conducted in the case of the assessee on 5/11/2013 wherein huge investment was found which was not disclosed by the assessee while filing the return of income. The case was then reopened U/s. 147 of the Act and the assessment order was passed on 31/3/2015 u/s. 143(3) r.w.s 147 of the Act determining the total

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

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-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

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

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

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

Survey action u/s 133A in the cases of the alleged\nsuppliers, the fact of availing accommodation entries by the assessee company\nin the guise of purchases, would not have come to light and the modus\noperandi of the assessee company would not have beenunearthed.\n10.\nReliance is placed on the recent decision of Hon'ble High Court of\nBombay

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

Survey action u/s 133A in the cases of the alleged\nsuppliers, the fact of availing accommodation entries by the assessee company\nin the guise of purchases, would not have come to light and the modus\noperandi of the assessee company would not have beenunearthed.\n10.\nReliance is placed on the recent decision of Hon'ble High Court of\nBombay

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

Survey action u/s 133A in the cases of the alleged\nsuppliers, the fact of availing accommodation entries by the assessee company\nin the guise of purchases, would not have come to light and the modus\noperandi of the assessee company would not have beenunearthed.\n10.\nReliance is placed on the recent decision of Hon'ble High Court of\nBombay

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

Survey action u/s 133A in the cases of the alleged\nsuppliers, the fact of availing accommodation entries by the assessee company\nin the guise of purchases, would not have come to light and the modus\noperandi of the assessee company would not have beenunearthed.\n10.\nReliance is placed on the recent decision of Hon'ble High Court of\nBombay

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

Survey action u/s 133A in the cases of the alleged\nsuppliers, the fact of availing accommodation entries by the assessee company\nin the guise of purchases, would not have come to light and the modus\noperandi of the assessee company would not have beenunearthed.\n10. Reliance is placed on the recent decision of Hon'ble High Court of\nBombay