THE ACIT,, GUNTUR vs. M/S. CHATANYA GODAVARI,, GUNTUR
In the result, the appeals of the revenue are allowed
ITA 326/VIZ/2016[2010-2011]Status: DisposedITAT Visakhapatnam04 May 2018AY 2010-2011
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)
3. 10% of the aggregate average advances made by the 28,72,33,600
rural branches of such bank
(Rural Advances Rs.287,23,36,000/-
4. Total of 02 & 03 rows above
29,60,82,547
5. Eligible Amount u/s 36(1)(vii)(a) – Lower of 01 and 2,65,10,567
04
The assessee argued that it is entitled