TEEJAY INDIA PRIVATE LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME TAX, DC/AC 4(1), VISAKHAPATNAM

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

36(1)(va) of the Act. The Ld. AO accordingly passed draft assessment order on 29/11/2019. Aggrieved by the draft assessment order of the Ld. AO, the assessee preferred an appeal before the Ld. Dispute Resolution Panel, Bangalore (Ld. DRP). The Ld. Authorized Representative made various submissions before the Ld. DRP 4 with respect to the comparables selected

SRINIVASA HAIR INDUSTRIES,ELURU vs. ASSISTANT COMMISSIONER OF INCOME TAX., ELURU

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.194/Viz/2018 (ननधधारण वर्ा/Assessment Year:2013-2014) M/S Srinivasa Hair Industries Asst.Commissioner Of P.B.No.8 Income Tax Eastern Street Circle-1 Eluru Eluru [Pan : Aalfs8434M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By : Shri D.K.Sonowal, Citdr

section 36(1)(iii) of the Act. (iv) Ld.Pr. CIT also found that the assessee has shown M/s Madhulatha Entertainment as debtor for an amount of Rs.2.68 crores and 4 I.T.A. No.194/Viz/2018 M/s Srinivasa Hair Industries, Eluru an amount of Rs.10.63 lakhs was collected as interest receipt and observed that the interest collected by the assessee was very less compared

NEKKANTI SEA FOODS LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

price includes duties and taxes and other expenditure\ndirectly attributable to the acquisition of material and this is applicable from the\nA.Y.2016-17 and hence the benefit derived from the exports such as DEPB goes\nto reduce the cost of the purchase and hence it has been disclosed in the credit\nside of the Profit & Loss Account for the purpose

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

ARUNACHALAM MANICKAVEL,PROP: BHARATHI SOAP WORKS, 1ST LANE,,GUNTUR vs. THE ACIT, CIRCLE - 2(1),, GUNTUR

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

MYNENI VENKATA RAO,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee for the A

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singh

36,92,753 3 I.T.A. Nos.168 to 174/Viz/2014 Arunachalam Manickavel, Guntur 2005-06 81,44,910 97,94,846 2006-07 1,21,31,540 1

THE ITO,, GUNTUR vs. ALAPATI RAJENDRA PRASAD,, GUNTUR

In the result, appeal filed by the Revenue is dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleito, Ward-2(2), Vs. Alapati Rajendra Prasad, D.No. 4-5-29/85, 4Th Line, Guntur. Vidya Nagar, Guntur. Pan No. Aetpa 0460 M (Appellant) (Respondent)

vi) CIT Vs. Tata Services Ltd. [(1980) 122 ITR 594] 8. We have heard both the sides, perused the material available on record and orders of the authorities below. 9. The assessee is an individual entered into an oral agreement to purchase a site consisting of 5375 sq.yds. along with MTC tiled and ACC structures situated at Kothapet, Guntur