THE INCOME TAX OFFICER, WARD-3, , SRIKAKAULAM vs. SRI VASAVI POLYMERS PRIVATE LIMITED`, RAJAM,

In the result, appeal of the revenue is dismissed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.606/Viz/2018 (ननधधारण वर्ा/Assessment Year:2013-14) Income Tax Officer Vs M/S Sri Vasavi Polymers P.Ltd. Ward-3 S.No.125 & 126, Anthakapalli Srikakulam Rajam [Pan : Aaecs1849J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri S.Ravi Shankar Narayan, Cit, Dr प्रत्यधथी की ओर से / Respondent By : Shri Y.A.Rao, Ar सुनवधई की तधरीख / Date Of Hearing : 12.03.2020 घोर्णध की तधरीख/Date Of Pronouncement : 05.06.2020 आदेश /O R D E R Per Shri D.S.Sunder Singh: This Appeal Is Filed By The Revenue Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)]-9, Hyderabad In Ita No.10300/Cit(A)-9, Hyd/2017-18 Dated 09.08.2018 For The Assessment Year (A.Y.)2013-14. With The Delay Of 1 Day. The Department Has Filed Condonation Petition & Submitted That The Delay Was Due To The 2

68 taxmann.com 289 (Madras) 6. On the other hand, the Ld.AR submitted that the AO made addition u/s 41(1) of the Act, but not under section

DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD, GUNTUR

41,130/-.\nA Search and Seizure operation was conducted under section 132 of the Act on\n07.12.2021 in the group cases of Guntur based “Sakku” Group of concerns. The\ncase was then centralized after taking the approval from the appropriate\nauthorities. The Assessee-Company is engaged in the business of trading in eggs\nand birds and also maintains

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

41 Court, the Hon’ble Madras High Court delivered its judgment in the case of Vetrivel Mineral vs. ACIT (supra) vide para 24 of its order which is extracted herein above. Therefore, in our opinion there is no need to repeat the finding of the Hon’ble Supreme Court in the case of Anvar P.V. vs. P.K. Basheer and Others

KRISHNA PRABHAS AGRO OILS PRIVATE LIMITED,MAREDUBAKA vs. ASSISSTANT COMMISSIONER OF INCOME TAX, KAKINADA

In the result, we herein, in terms of our aforesaid observations, set aside the CIT(A) order and vacate the addition of Rs

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.546/Viz/2025 ("नधा"रण वष"/Assessment Year: 2017-18) Krishna Prabhas Agro Oils Vs. Assistant Commissioner Private Limited, Of Income Tax, Maredubaka, Kakinada. Kakinada. Pan: Aaics2638B (Appellant) (Respondent) "नधा"रती "वारा/Assessee By: Mrs. Hema Latha. K, Ca (Hybrid Hearing) राज" व "वारा/Revenue By: Dr. Aparna Villuri, Sr. Ar सुनवाई क" तार"ख/Date Of 10/11/2025 Hearing: घोषणा क" तार"ख/Date Of 12/11/2025 Pronouncement: आदेश / Order Per. Ravish Sood, J.M:

1. That under the facts and circumstances of the case, the orders passed by the Commissioner of Income-tax (Appeals) (in short 'CIT(A)') under section 250 of Income-tax Act, 1961 ('IT Act') dated 04-09-2025, confirming the order passed by Assessing Officer ('AO') under section . 147 r.w.s 144B of the IT Act dt.27-03-2022

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

41. Ground No.8 relating to disallowance of contingency fund. The Assessing Officer has noted that the assessee had debited an amount of Rs. 5.00 lakhs towards contingency liability, the details of which were not furnished for verification. As the amount was towards provision and as no details were furnished, the Assessing Officer made the impugned disallowance. Even before the ld.CIT

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

41. Ground No.8 relating to disallowance of contingency fund. The Assessing Officer has noted that the assessee had debited an amount of Rs. 5.00 lakhs towards contingency liability, the details of which were not furnished for verification. As the amount was towards provision and as no details were furnished, the Assessing Officer made the impugned disallowance. Even before the ld.CIT

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

41. Ground No.8 relating to disallowance of contingency fund. The Assessing Officer has noted that the assessee had debited an amount of Rs. 5.00 lakhs towards contingency liability, the details of which were not furnished for verification. As the amount was towards provision and as no details were furnished, the Assessing Officer made the impugned disallowance. Even before the ld.CIT

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

41. Ground No.8 relating to disallowance of contingency fund. The Assessing Officer has noted that the assessee had debited an amount of Rs. 5.00 lakhs towards contingency liability, the details of which were not furnished for verification. As the amount was towards provision and as no details were furnished, the Assessing Officer made the impugned disallowance. Even before the ld.CIT

SRI RAJANI GOLD,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA

In the result, appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./I.T.A.No.162/Viz/2023 (निर्धारण वर्ा/ Assessment Year: 2017-18) Sri Rajani Gold V. Asst. Cit – Circle – 1(1) D.No. 11-49-336B Central Revenue Building Sivalayam Street, I Town Mg Road – 520001 Vijayawada – 520001 Vijayawada, Andhra Pradesh Andhra Pradesh [Pan: Aacfs6675E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

41,71,000/-was treated as turnover and estimate of 1% on the turnover was made by the Ld.AO in addition to the treatment of the same amount as unexplained under section 68

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

section 36(1)(viia). We do agree that the bank si bound to follow the RBI guidelines. But the deduction available has to be as per the provisions of the Act only. Accordingly, we uphold the order of the CIT(A) disallowing the deduction in respect of provision made for standard assets.” 7. Since the facts are identical, respectfully

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

section 36(1)(viia). We do agree that the bank si bound to follow the RBI guidelines. But the deduction available has to be as per the provisions of the Act only. Accordingly, we uphold the order of the CIT(A) disallowing the deduction in respect of provision made for standard assets.” 7. Since the facts are identical, respectfully