THE ACIT,, GUNTUR vs. M/S. CHATANYA GODAVARI,, GUNTUR

In the result, the appeals of the revenue are allowed

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

v. the instalment of principal or interest thereon remains overdue for one crop season for long duration crops, vi. the amount of liquidity facility remains outstanding for more than 90 days, in respect of a securitisation transaction undertaken in terms of guidelines on securitisation dated February 1, 2006. vii. in respect of derivative transactions, the overdue receivables representing positive mark

THE ACIT,, GUNTUR vs. M/S. CHATANYA GODAVARI,, GUNTUR

In the result, the appeals of the revenue are allowed

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

v. the instalment of principal or interest thereon remains overdue for one crop season for long duration crops, vi. the amount of liquidity facility remains outstanding for more than 90 days, in respect of a securitisation transaction undertaken in terms of guidelines on securitisation dated February 1, 2006. vii. in respect of derivative transactions, the overdue receivables representing positive mark

DASARI BUJJI,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-1(1), VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.20/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) Dasari Bujji Vs. Income Tax Officer D.No.40-54-5/31 Ward-1(1) Sanjeevayya Colony, Visakhapatnam Near Bethadha Church, Tatichetlapalem, Visakhapatnam [Pan : Bklpd8566J]

36, even though, it was remitted before filing the return of income u/s 139(1) of the Act. So far as section 143(1) is concerned, the Ld.DR categorically mentioned that the CPC is empowered to disallow the same, as it is covered in clauses mentioned in section 143(1)(a)(ii), wherein, it is mentioned that

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

V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/2024 (धनिाारणिर्ा

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

V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/2024 (धनिाारणिर्ा

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

V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/2024 (धनिाारणिर्ा

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

V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/2024 (धनिाारणिर्ा

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

V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/2024 (धनिाारणिर्ा

TETALI ANIL KUMAR,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD -3(3),, VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.175/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Eastern Warehouse Corporation Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aaafe3741J] Visakhapatnam आयकर अपील सं./I.T.A.No.179/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Sri Ranga Motors Vs Income Tax Officer Vizianagaram Ward-1 [Pan : Aabbfs8249P] Vizianagaram आयकर अपील सं./I.T.A.No.174/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) Tetali Anil Kumar Vs. Income Tax Officer Visakhapatnam Ward-3(3) [Pan : Aaqpt9453L] Visakhapatnam आयकर अपील सं./I.T.A.No.184/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) T.Srinivasa Rao & Co. Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aamft1310Q] Visakhapatnam

36, even though, it was remitted before filing the return of income u/s 139(1) of the Act. So far as section 143(1) is concerned, the Ld.DR categorically mentioned that the CPC is empowered to disallow the same, as it is covered in clauses mentioned in section 143(1)(a)(ii), wherein, it is mentioned that

T SRINIVASA RAO&CO,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-1(1), VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.175/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Eastern Warehouse Corporation Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aaafe3741J] Visakhapatnam आयकर अपील सं./I.T.A.No.179/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Sri Ranga Motors Vs Income Tax Officer Vizianagaram Ward-1 [Pan : Aabbfs8249P] Vizianagaram आयकर अपील सं./I.T.A.No.174/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) Tetali Anil Kumar Vs. Income Tax Officer Visakhapatnam Ward-3(3) [Pan : Aaqpt9453L] Visakhapatnam आयकर अपील सं./I.T.A.No.184/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) T.Srinivasa Rao & Co. Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aamft1310Q] Visakhapatnam

36, even though, it was remitted before filing the return of income u/s 139(1) of the Act. So far as section 143(1) is concerned, the Ld.DR categorically mentioned that the CPC is empowered to disallow the same, as it is covered in clauses mentioned in section 143(1)(a)(ii), wherein, it is mentioned that

EASTERN WAREHOUSE CORPORATION,VISAKHAPATNAM vs. INCOME TAX OFFICER, WARD-1(1), VISAKHAPATNAM

In the result, appeals of the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.175/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Eastern Warehouse Corporation Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aaafe3741J] Visakhapatnam आयकर अपील सं./I.T.A.No.179/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Sri Ranga Motors Vs Income Tax Officer Vizianagaram Ward-1 [Pan : Aabbfs8249P] Vizianagaram आयकर अपील सं./I.T.A.No.174/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) Tetali Anil Kumar Vs. Income Tax Officer Visakhapatnam Ward-3(3) [Pan : Aaqpt9453L] Visakhapatnam आयकर अपील सं./I.T.A.No.184/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) T.Srinivasa Rao & Co. Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aamft1310Q] Visakhapatnam

36, even though, it was remitted before filing the return of income u/s 139(1) of the Act. So far as section 143(1) is concerned, the Ld.DR categorically mentioned that the CPC is empowered to disallow the same, as it is covered in clauses mentioned in section 143(1)(a)(ii), wherein, it is mentioned that

SRI RANGA MOTORS,VIZIANAGARAM vs. INCOME TAX OFFICE, WARD-1, VIZIANAGARAM

In the result, appeals of the assessee are dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.175/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Eastern Warehouse Corporation Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aaafe3741J] Visakhapatnam आयकर अपील सं./I.T.A.No.179/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19) Sri Ranga Motors Vs Income Tax Officer Vizianagaram Ward-1 [Pan : Aabbfs8249P] Vizianagaram आयकर अपील सं./I.T.A.No.174/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) Tetali Anil Kumar Vs. Income Tax Officer Visakhapatnam Ward-3(3) [Pan : Aaqpt9453L] Visakhapatnam आयकर अपील सं./I.T.A.No.184/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2019-20) T.Srinivasa Rao & Co. Vs. Income Tax Officer Visakhapatnam Ward-1(1) [Pan : Aamft1310Q] Visakhapatnam

36, even though, it was remitted before filing the return of income u/s 139(1) of the Act. So far as section 143(1) is concerned, the Ld.DR categorically mentioned that the CPC is empowered to disallow the same, as it is covered in clauses mentioned in section 143(1)(a)(ii), wherein, it is mentioned that

SIONC PHARMACEUTICALS PRIVATE LIMITED,VISAKHAPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(1), VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.40/Viz/2023 (ननधधारण वर्ा / Assessment Year : 2019-20) Sionc Pharmaceuticals Private Ltd. Vs. Deputy Commissioner Of D.No.43-11-56, Subbalakshminagar Income Railway New Colony Circle-3(1) Visakhapatnam Visakhapatnam [Pan : Aalcs7973C] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

36(1)(va), it becomes a permanent disallowance and is against the principles of natural justice. 6. The CIT(A) failed in appreciating the fact that the addition made is a disputable addition and such additions cannot be made in the intimation u/s 143(1) and hence the additions are to be deleted as per the provsions

THE ACIT,CIRCLE - 1,, RAJAHMUNDRY vs. M/STHE ARYAPURAM CO-OPRATIVE URBAN BANK LTD.,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

v Govt of A.P. 2005, (5) ALD 682, the Andhra Pradesh High Court has held that sec.116C(1) of the AP co-operative societies Act is mandatory in nature. In that judgment, the Honourable High Court has observed that the society cannot violate mandatory requirement on the plea that it has to fulfill certain obligations under the Minimum Wages

THE ARYAPURAM CO-OPERATIVE URBAN BANK LTD.,RAJAHMUNDRY vs. THE ACIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

v Govt of A.P. 2005, (5) ALD 682, the Andhra Pradesh High Court has held that sec.116C(1) of the AP co-operative societies Act is mandatory in nature. In that judgment, the Honourable High Court has observed that the society cannot violate mandatory requirement on the plea that it has to fulfill certain obligations under the Minimum Wages

THE ARYAPURAM CO-OPERATIVE URBAN BANK LTD.,,RAJAHMUNDRY vs. THE ACIT, CIRCLE - 1, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

v Govt of A.P. 2005, (5) ALD 682, the Andhra Pradesh High Court has held that sec.116C(1) of the AP co-operative societies Act is mandatory in nature. In that judgment, the Honourable High Court has observed that the society cannot violate mandatory requirement on the plea that it has to fulfill certain obligations under the Minimum Wages

ARYAPURAM CO=OP. URBANK LTD.,,RAJAHMUNDRY vs. THE ACIT,, RAJAHMUNDRY

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

v Govt of A.P. 2005, (5) ALD 682, the Andhra Pradesh High Court has held that sec.116C(1) of the AP co-operative societies Act is mandatory in nature. In that judgment, the Honourable High Court has observed that the society cannot violate mandatory requirement on the plea that it has to fulfill certain obligations under the Minimum Wages

SANTOSH AGRAWAL,CHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRLCE-1, VISAKHAPATNAM

1) of the Act before the Income\nTax Settlement Commission, Chennai which was rejected by the Income Tax\nSettlement Commission U/s. 245D(2C) of the Act vide order dated\n21/07/2016. The assessee subsequently filed Writ Petition before the Hon'ble\nHigh Court of Andhra Pradesh and Telangana against the order of the Income\nTax Settlement Commission. The Hon'ble High

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

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

V. Bharti Televentures Ltd. : 331 ITR 502 (Del.) 4. Under 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