GVK POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, RAJAHMUNDRY
In the result, appeal of the assessee is allowed
ITA 553/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam03 Apr 2019AY 2014-15
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकरअपीलसं./I.T.A.No.553/Viz/2018 (ननधधारण वर्ा/Assessment Year:2014-15) M/S Gvk Power & Infrastructure Ltd. Vs. Asst.Commissioner Of D.No.5-48, Gvk Power Plant Income Tax Jegurupadu, Kadiyammandal Circle-2(1) East Godavari Rajamahendravaram [Pan :Aaacj5599A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओ रसे/ Appellant By Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By Shri D.K.Sonowal, Cit Dr सुनवधई की तधरीख / Date Of Hearing : 21.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03.04.2019
Section 139Section 143(3)Section 14ASection 36Section 5
section 36(1)(iii) the following conditions are required to be satisfied before the assessee can successfully claim deduction in respect of interest paid :
(a) The assessee should have borrowed capital;
(b) The borrowing of the capital should be for the purpose of the business and (c) Interest should have been paid on the borrowing.
The finding
