ANDHRA PRADESH CAPITAL REGION DEVELOPMENT AUTHORITY,,VIJAYAWADA vs. ACIT, CIRCLE-3(1),, VIJAYAWADA
In the result, appeal filed by the assessee is partly allowed
ITA 394/VIZ/2017[2008-2009]Status: DisposedITAT Visakhapatnam04 Oct 2019AY 2008-2009
Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleandhra Pradesh Capital Vs. Acit, Circle-3(1), Region Development Authority Vijayawada. (Formerly Vgtm Urban Development Authority), Uda Complex, Lenin Centre, Governorpet, Vijayawada. Pan No. Aaalv 0067 E (Appellant) (Respondent)
For Appellant: Shri S. Rama Rao, AdvFor Respondent: Shri T.S.N. Murthy, Sr.DR
Section 142(1)Section 143(2)Section 143(3)Section 147Section 148Section 3
68,18,283/-. However, after netting of the expenditure towards sinking fund at Rs. 19,27,95,540/- only
Rs.3,40,22,738/- was credited. Therefore, there is a valid reason to believe. Accordingly, the objections raised by the assessee for reopening was rejected and assessment was completed by disallowing Rs. 19,27,95,540/-.
4. On being aggrieved, assessee