THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, KAKINADA vs. EAST COAST IMPORTS & EXPORTS,, KAKINADA
In the result, appeal of the revenue as well as the cross objections of the assessee are dismissed
ITA 79/VIZ/2021[2012-13]Status: DisposedITAT Visakhapatnam17 Sept 2021AY 2012-13
Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.79/Viz/2021 (निर्धारण वर्ा/Assessment Year:2012-13) Dy.Commissioner Of Income Tax Vs. M/S East Coast Imports & Circle-1 Exports Kakinada D.No.67-15-32, Office No.1 Nagamallithota Junction Kakinada [Pan : Aacfe2078A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.49/Viz/2021 (Arising Out Of I.T.A. No.79/Viz/2021) M/S East Coast Imports & Exports Vs. Dy.Commissioner Of Income Tax D.No.67-15-32, Office No.1 Circle-1 Nagamallithota Junction Kakinada Kakinada [Pan : Aacfe2078A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri V.Srinivasa Rao, Dr निर्धाऩरती की ओरसे / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 08.09.2021 घोर्णध की तधरीख/Date Of Pronouncement : 17.09.2021 आदेश /O R D E R Per Bench : This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)]-2, Visakhapatnam In Ita
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri V.Srinivasa Rao, DR
house property’. Only the
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ITA No.79/Viz/2021 and CO 49/Viz/2021, A.Y.2012-13
M/s East Coast Imports & Exports, Kakinada balance amount was claimed under the head ‘income from business’. Out of the balance interest of Rs.66,67,752/-, the sum of Rs.21,62,408/- was paid on partner’s capital account and a sum of Rs.20,46,346/- was the interest relating
