THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, , ELURU vs. THE ANDHRA SUGARS LIMITED, TANUKU

In the result, appeal of the Revenue is dismissed

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No. 380/Viz/2019 (धनिाारणिर्ा/ Assessment Year: 2012-13) Assistant Commissioner Of Vs. M/S. Andhra Sugars Ltd., Income Tax, Circle-1, Tanuku. Eluru. Pan: Aaact6357Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) सी.ओ सं. / C.O. No. 140/Viz/2019 [आयक अपील सं. से उत्पन्न / Arising Out Of I.T.A. No. 380/Viz/2019(A.Y. 2012-13)] M/S. Andhra Sugars Ltd., Vs. Assistant Commissioner Of Tanuku. Income Tax, Circle-1, Pan: Aaact6357Q Eluru. अपीलार्थीकीओरसे/ Assessee By : Shri C. Subrahmanyam, Ca प्रत्यार्थीकीओरसे/ Revenue By : Dr.Satyasai Rath, Cit-Dr

127,11,77,180/-. Thereafter, once again the return of income was revised on 26/03/2014 admitting a total income of Rs. 123,49,48,180/- after claiming deduction U/s. 80IA of Rs. 3,62,29,004/-. The case was selected for scrutiny under CASS to verify large deduction claimed under Chapter VIA, additional depreciation claimed and larger interest expenses relating

SRIDHAR PINNAMANENI,VIJAYAWADA vs. ACIT, CENTRAL CERCLE, VIJAYAWADA

In the result, appeal filed by the assessee for the A

Bench: Shri Manjunatha G. (Accountant Member), Shri K. Narasimha Chary (Judicial Member)

127 of IT Act on dt.25.06.2018 as by this date the AO had assumed jurisdiction over the assessee. This procedural lapse violates the mandatory requirements of section 153C rendering the assessment null and void ab initio. 4. The Ld.CIT(A) failed to take note and consider that a portion of the on-money received was utilized towards unrecorded expenditure, which

SRIDHAR PINNAMANENI,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

In the result, appeal filed by the assessee for the A

127 of IT Act on dt.25.06.2018 as by this date the AO had assumed jurisdiction over the assessee. This procedural lapse violates the mandatory requirements of section 153C rendering the assessment null and void ab initio. 4. The Ld.CIT(A) failed to take note and consider that a portion of the on-money received was utilized towards unrecorded expenditure, which

SRIDHAR PINNAMANENI,VIJAYAWADA vs. ACIT, CENTRAL CIRCLE, VIJAYAWADA

In the result, appeal filed by the assessee for the A

Bench: Shri Manjunatha G. (Accountant Member), Shri K. Narasimha Chary (Judicial Member)

127 of IT Act on dt.25.06.2018 as by this date the AO had assumed jurisdiction over the assessee. This procedural lapse violates the mandatory requirements of section 153C rendering the assessment null and void ab initio. 4. The Ld.CIT(A) failed to take note and consider that a portion of the on-money received was utilized towards unrecorded expenditure, which