SRILAKSHMI DEVIREDDY,VIJAYAWADA vs. INCOME TAX OFFICER, WARD-3(5), VIJAYAWADA

68, section 69, section 69A, section 69B, section 69C or section 69D was\nenhanced from 30% to 60%, was applicable only to the transactions from 01.4.2017 and\ncould not be applied retrospectively. The Ld.AR submitted that the Tribunal in its\naforesaid orders had specifically observed that the higher rate of tax @60% under\nsection 115BBE

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

68,495/- as additional income. The Ld. AO did not accept these submissions of the assessee and concluded that the excess stock is taxable U/s. 69B of the Act and deficit stock as unexplained investment U/s. 69 of the Act and hence, added an amount of Rs. 2,11,55,707/- being the difference between the excess stock and deficit

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

68,495/- as additional income. The Ld. AO did not accept these submissions of the assessee and concluded that the excess stock is taxable U/s. 69B of the Act and deficit stock as unexplained investment U/s. 69 of the Act and hence, added an amount of Rs. 2,11,55,707/- being the difference between the excess stock and deficit

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

68,495/- as additional income. The Ld. AO did not accept these submissions of the assessee and concluded that the excess stock is taxable U/s. 69B of the Act and deficit stock as unexplained investment U/s. 69 of the Act and hence, added an amount of Rs. 2,11,55,707/- being the difference between the excess stock and deficit

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

68,495/- as additional income. The Ld. AO did not accept these submissions of the assessee and concluded that the excess stock is taxable U/s. 69B of the Act and deficit stock as unexplained investment U/s. 69 of the Act and hence, added an amount of Rs. 2,11,55,707/- being the difference between the excess stock and deficit

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

68,495/- as additional income. The Ld. AO did not accept these submissions of the assessee and concluded that the excess stock is taxable U/s. 69B of the Act and deficit stock as unexplained investment U/s. 69 of the Act and hence, added an amount of Rs. 2,11,55,707/- being the difference between the excess stock and deficit

AGRI GOLD FOODS AND FARM PRODUCTS LIMITED,VIJAYAWADA vs. ASST.COMMISSIONER OF INCOME TAX, CIRCLE-2(1), VIJAYAWADA

Bench: Us:

Section 147 of the Act. Apart from that, the assessee company assailed the impugned addition made by the A.O. on the merits of the case. However, we find that the CIT(A) did not find favour with the contentions advanced by the assessee company and dismissed the appeal. For the sake of clarity, the observations