DCIT, CIRCLE - 3(1), , VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

house property”, and had wrongly concluded that the same\nwas rightly disclosed by the assessee company as its “business income”,\ncannot be sustained and is liable to be set aside.\n19. Apropos the disallowance made by the AO under Section 14A r.w\nRule 8D

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

8D of IT Rules and disallowed proportionate interest and indirect expenditure. As far as interest expenditure is concerned it was held in the assessee’s own case for the AY 2008-09 by the coordinate Bench of this Tribunal that the assessee has proved that it has not utilized borrowed funds and also the usage of own surplus funds