THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. SRI VIJAYA VISAKHA MILK PRODUCERS COMPANY LIMITED, , VISAKHAPATNAM
In the result, Cross Objections filed by the assessee are dismissed as infructuous
ITA 243/VIZ/2020[2011-12]Status: DisposedITAT Visakhapatnam30 Nov 2023AY 2011-12
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. Nos. 243 & 244/Viz/2020 ("नधा"रणवष"/ Assessment Year : 2011-12 & 2012-13) Assistant Commissioner Of Vs. M/S. Sri Vijaya Visakha Milk Income Tax, Producers Company Limited, Central Circle-2, Visakhapatnam. Visakhapatnam. Pan: Aajcs 7398 P (अपीलाथ"/ Appellant) (""यथ"/ Respondent) Co Nos. 18 & 19/Viz/2023 (In आयकरअपीलसं./ I.T.A. No.243 & 244/Viz/2020 ("नधा"रणवष"/ Assessment Year : 2011-12 & 2012-13)
For Appellant: Sri GVN Hari, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 143(2)Section 143(3)Section 581E
section 581E of the Companies Act, 1956, and
duly authorized by the Articles of Association the members may
receive limited return on the share capital contributed by the
Members. The Ld. AR further submitted that this is a charge to
the P & L Account and the amounts have been paid by way of
limited return to the Members
