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42 results for “transfer pricing”+ Section 83clear

Sorted by relevance

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Key Topics

Section 143(3)40Section 153A24Addition to Income24Section 92C16Section 80I15Disallowance14Section 143(2)11Section 10A11Unexplained Cash Credit

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

ITA 152/VIZ/2021[2016-17]Status: DisposedITAT Visakhapatnam23 Jan 2023AY 2016-17

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

For Appellant: Sri Darpan Kirpalani CAFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 10ASection 142(1)Section 143(2)Section 143(3)Section 36(1)(va)Section 92C

transfer pricing adjustments not on proportionate basis which was consistently followed in earlier assessment years. 4.12. Not providing appropriate economic adjustments towards material differences between the operational profile of comparable companies and the appellant with respect to working capital adjustments. Grounds for disallowance of technical support services fees paid. 5. On the facts and in the circumstances of the case

Showing 1–20 of 42 · Page 1 of 3

10
Section 801A9
Transfer Pricing9
Section 1328

GVR POWER & INFRASTRUCTURE LIMITED,KADIYAM vs. ACIT, CIRCLE - 2(1), RAJAHMUNDRY

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

ITA 530/VIZ/2017[2013-14]Status: DisposedITAT Visakhapatnam18 May 2018AY 2013-14

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

For Appellant: Shri Deba Kumar Sonowal
Section 92C

transfer pricing officer found GVK Power & Infrastructure Ltd., Jegurupadu that the assessee has receivables of Rs.7,32,97,465/- as at the end of the year. The TPO requested the assessee to submit the details of raising the invoice and subsequent receipt of the amount and also called for an explanation as to why notional interest should not be charged

ASSISTANT COMMISSIONER OF INCOME, CIRCLE-1(1),, GUNTUR vs. M/S CCL PRODUCTS(INDIA) LIMITED, GUNTUR

In the result, appeal of the revenue is dismissed

ITA 348/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam03 Apr 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.348/Viz/2018 (ननधधारण वर्ा/ Assessment Year:2014-15) Dcit, Circle-1(1) Vs. M/S Ccl Products (India) Guntur Pvt. Ltd. Duggirala Post & Mandal Guntur [Pan : Aaacc9552G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri D.K.Sonowal, Dr प्रत्यधथी की ओर से/ Respondent By : Shri Ramesh Babu, Ar सुनवधई की तधरीख / Date Of Hearing : 20.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03 .04.2019

For Appellant: Shri D.K.Sonowal, DRFor Respondent: Shri Ramesh Babu, AR
Section 92BSection 92C

83 taxmann.com 346) and requested to delete the adjustment. The Hon'ble Tribunal held that TP adjustment on receivables regarding extended credit period is not called for on the basis of the company is debt free one. The relevant part of the headnote is as under: "Section 92C of the Income-tax Act, 1961 - Transfer pricing

ASST. COMMISSIONER OF INCOME TAX, VIJAYAWADA vs. FYSOLATE TECHNOLOGIES, VIJAYAWADA

In the result, appeal of the Revenue is dismissed

ITA 182/VIZ/2023[2017-18]Status: DisposedITAT Visakhapatnam15 Jul 2024AY 2017-18

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.182/Viz/2023 (िनधा"रण वष" / Assessment Year : 2017-18) Assistant Commissioner Of Vs. Fysolate Technologies, Income Tax, Vijayawada. Vijawayada. Pan: Aacff5633L (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Assessee By : Sri Mithilesh Sannareddy ""याथ" क" ओर से / Revenue By : Dr. Satyasai Rath, Cit-Dr सुनवाई क" तारीख / Date Of Hearing : 16/04/2024 घोषणा क" तारीख/Date Of : 15/07/2024 Pronouncement O R D E R

For Appellant: Sri Mithilesh SannareddyFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 10ASection 143(2)Section 143(3)Section 92C

section 80IA(8) and 80IA(10). The Ld. TPO failed to prove that there exists an arrangement for what may be considered as more than ordinary profits. The Ld. TPO also erred in considering the fact that the assessee has FDA license, and also GMP-111 Guidelines compliant and assumes risks performs more complex functions and dealing with 100% exports

M/S. MAHATI SOFTWARE PVT. LTD.,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee are partly allowed

ITA 68/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam07 Sept 2018AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 10ASection 143(3)Section 144Section 144C(1)Section 194JSection 40

transfer pricing document also does not show any such requirement of payment of advance to the AE. During the appeal hearing also the assessee did not establish with any evidence to show that the assessee is required to make payment to the AE for executing the project or for trade advance etc. Since the advance given

MAHATI SOFTWARE PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, appeals of the assessee are partly allowed

ITA 67/VIZ/2016[20011-12]Status: DisposedITAT Visakhapatnam07 Sept 2018

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.67/Viz/2016 & 68/Viz/2017 (निर्धारण वर्ा/Assessment Year:2011-12 & 2012-13) M/S Mahati Software Pvt. Ltd. Vs. Asst. Commissioner Of D.No.10-27-14A Income Tax Sivam, Kailashmetta Circle-3(1) Waltair Visakhapatnam Visakhapatnam [Pan : Aadcm9620J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 10ASection 143(3)Section 144Section 144C(1)Section 194JSection 40

transfer pricing document also does not show any such requirement of payment of advance to the AE. During the appeal hearing also the assessee did not establish with any evidence to show that the assessee is required to make payment to the AE for executing the project or for trade advance etc. Since the advance given

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 of the Tribunal

DEVI SEA FOODS LIMITED,VISAKHAPATNAM vs. DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE -3(1), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

ITA 156/VIZ/2022[2018-19]Status: DisposedITAT Visakhapatnam16 Dec 2022AY 2018-19

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.156/Viz/2022 (निर्धारण वर्ा / Assessment Year : 2018-19) M/S Devi Sea Foods Limited Vs. Deputy Commissioner Of 50-1-51/1, A.S.R.Nagar Income Tax Seethammadhara Circle-3(I) Visakhapatnam Visakhapatnam [Pan : Aabcd0248B] अपीलधथी की ओर से/ Appellant By : Shri D.Anand, Ar प्रत्यधथी की ओर से / Respondent By : Shri M.N.Murthy Naik, Cit(Dr) सुिवधई की तधरीख / Date Of Hearing : 01.12.2022 घोर्णध की तधरीख/Date Of Pronouncement : 16.12.2022 O R D E R Per Shri S.Balakrishnan:

For Appellant: Shri D.Anand, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 143(3)Section 144C(5)Section 14ASection 80GSection 92Section 92BSection 92C

83,31,265 4. Aggrieved by the order of the Ld.AO, the assessee filed objections before the Ld.DRP-9, Bengaluru and challenged the upward adjustments. The Ld.DRP, relying on various judicial precedents confirmed the disallowance proposed by the AO, but directed the AO to verify the claim with regard to exemption of dividend from investment in Devi Sea Foods

GVK POWER AND INFRASTRUCTURE LIMITED,JEGURUPADU vs. DCIT, CIRCLE-1, RAJAHMUNDRY

In the result, appeal of the assessee is partly allowed

ITA 93/VIZ/2022[2017-18]Status: DisposedITAT Visakhapatnam16 Mar 2023AY 2017-18

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

For Appellant: Sri GVN Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 143(2)Section 143(3)Section 92C

83,058/-. The case was selected for scrutiny under CASS and notice u/s. 143(2) was issued on 9/8/2018 and duly served on the assessee along with a detailed questionnaire issued on 18/11/2019 calling for various details. In response to the said notices, the assessee uploaded its submissions through ITBA from time to time and furnished the details called

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 6/VIZ/2014[2009-10]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2009-10

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

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

transfer of thermal heat energy from steam to the juices. The dispute between the revenue and the assessee arose whether the receipts from generation and supply of steam was eligible for relief under section 801A and according to the revenue, the steam was not the power, which was eligible for tax holiday under section 801A. 7.11The word power

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 5/VIZ/2014[2008-09]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2008-09

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

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

transfer of thermal heat energy from steam to the juices. The dispute between the revenue and the assessee arose whether the receipts from generation and supply of steam was eligible for relief under section 801A and according to the revenue, the steam was not the power, which was eligible for tax holiday under section 801A. 7.11The word power

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 4/VIZ/2014[2007-08]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2007-08

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

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

transfer of thermal heat energy from steam to the juices. The dispute between the revenue and the assessee arose whether the receipts from generation and supply of steam was eligible for relief under section 801A and according to the revenue, the steam was not the power, which was eligible for tax holiday under section 801A. 7.11The word power

BRANDIX APPARAL INDIA PRIVATE LIMITED,,VISAKHAPATNAM vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 5(1), VISAKHAPATNAM

In the result, appeal of the assessee is partly allowed for

ITA 627/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam13 Feb 2024AY 2014-15

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble(Through Hybrid Hearing) आयकरअपीलसं./ I.T.A. No.627/Viz/2018 ("नधा"रणवष"/ Assessment Year : 2014-15) Brandix Apparel India Private Vs. Assistant Commissioner Of Limited, Income Tax, Apsez, Pudimadaka Road, Circle-5(1), Atchutapuram Mandal, Visakhapatnam. Visakhapatnam – 530011. Pan: Aaccb 6569 L (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri Darpan Kriplani ""याथ"क"ओरसे/ Revenue By : Dr. Satyasai Rath, Cit-Dr

For Appellant: Sri Darpan KriplaniFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 10ASection 142(1)Section 143(2)Section 143(3)Section 92C

83,898 Brandix Apparel Ltd Recovery of Pre-commencement 3,68,47,180 Brandix Apparel Ltd Liability no longer required 9,91,13,198 3. Thereafter, the case was referred to the Ld. Transfer Pricing Officer, Hyderabad [TPO] after obtaining necessary approval from the Ld. Principal Commissioner of Income Tax-2, Visakhapatnam for determining the Arm’s Length Price

ACIT CIRCLE-3(1),, VISAKHAPATNAM vs. DREDGING CORPORATION OF INDIA LIMITED,., VISAKHAPATNAM

In the result, the appeals of the assessee as well as the revenue are dismissed

ITA 464/VIZ/2017[2012-13]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2012-13

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.437/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) M/S Dredging Corporation Vs. Dcit Of India Ltd. Circle-3(1) Dredge House, Port Area Visakhapatnam Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.464/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) Acit Vs. M/S Dredging Corporation Circle-3(1) Of India Ltd. Visakhapatnam Dredge House, Port Area Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 26.09.2018 05.10.2018 घोषणध की तधिीख/Date Of Pronouncement :

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 115VSection 5

83,972.59 19. Vendor Registration fee – Refunded -2,00,000.00 20 Insurance-Others -33,32,172.00 Total 23,40,56,768.00 3. Aggrieved by the order of the AO, the assessee went on appeal before the CIT(A) and the Ld.CIT(A) confirmed the following additions made by 4 I.T.A. Nos.437 /Viz/2017 & 464/Viz/2017 M/s Dredging Corporation of India Ltd., Visakhapatnam

DREDGING CORPORATION OF INDIA LTD,,VISAKHAPATNAM vs. DCIT, CIRCLE -3(1),, VISAKHAPATNAM

In the result, the appeals of the assessee as well as the revenue are dismissed

ITA 437/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.437/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) M/S Dredging Corporation Vs. Dcit Of India Ltd. Circle-3(1) Dredge House, Port Area Visakhapatnam Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.464/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) Acit Vs. M/S Dredging Corporation Circle-3(1) Of India Ltd. Visakhapatnam Dredge House, Port Area Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 26.09.2018 05.10.2018 घोषणध की तधिीख/Date Of Pronouncement :

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 115VSection 5

83,972.59 19. Vendor Registration fee – Refunded -2,00,000.00 20 Insurance-Others -33,32,172.00 Total 23,40,56,768.00 3. Aggrieved by the order of the AO, the assessee went on appeal before the CIT(A) and the Ld.CIT(A) confirmed the following additions made by 4 I.T.A. Nos.437 /Viz/2017 & 464/Viz/2017 M/s Dredging Corporation of India Ltd., Visakhapatnam

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,, KAKINADA vs. SRI LALITHA ENTERPRISES INDUSTRIES PRIVATE LIMITED, PEDDAPURAM

In the result, all the appeals filed by the Revenue and the Cross Objections filed by the assessee are dismissed

ITA 481/VIZ/2018[2009-10]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2009-10

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

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri V. Appala Raju – Sr.DR
Section 143(3)Section 148Section 153CSection 801ASection 80I

83,870/- and total income was computed. In the assessment order, the Assessing Officer observed that while calculating the eligible deduction under section 80IA from the profits derived from the power generation undertaking adopted sale value of power at Rs. 4.50 per unit being the rate paid by the assessee-company to APTRANSCO, however, APTRANSCO is seen to be adopting

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,, KAKINADA vs. SRI LALITHA ENTERPRISES INDUSTRIES PRIVATE LIMITED, PEDDAPURAM

In the result, all the appeals filed by the Revenue and the Cross Objections filed by the assessee are dismissed

ITA 482/VIZ/2018[2010-11]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2010-11

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

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri V. Appala Raju – Sr.DR
Section 143(3)Section 148Section 153CSection 801ASection 80I

83,870/- and total income was computed. In the assessment order, the Assessing Officer observed that while calculating the eligible deduction under section 80IA from the profits derived from the power generation undertaking adopted sale value of power at Rs. 4.50 per unit being the rate paid by the assessee-company to APTRANSCO, however, APTRANSCO is seen to be adopting

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,, KAKINADA vs. SRI LALITHA ENTERPRISES INDUSTRIES PRIVATE LIMITED, PEDDAPURAM

In the result, all the appeals filed by the Revenue and the Cross Objections filed by the assessee are dismissed

ITA 483/VIZ/2018[2011-12]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2011-12

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

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri V. Appala Raju – Sr.DR
Section 143(3)Section 148Section 153CSection 801ASection 80I

83,870/- and total income was computed. In the assessment order, the Assessing Officer observed that while calculating the eligible deduction under section 80IA from the profits derived from the power generation undertaking adopted sale value of power at Rs. 4.50 per unit being the rate paid by the assessee-company to APTRANSCO, however, APTRANSCO is seen to be adopting

LINTON PROJECTS PRIVATE LIMITED,VIZIANAGARAM vs. THE INCOME TAX OFFICER, WARD-1, , VIZIANAGARAM

In the result, appeal of the revenue is dismissed in limine and Cross objection filed is assessee is dismissed as infructuous

ITA 227/VIZ/2020[2014-15]Status: DisposedITAT Visakhapatnam30 Oct 2024AY 2014-15

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

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 56(2)(viib)Section 68

transferring it to the assessee company as investment in share capital. He therefore stated that the sources remained unexplained and hence the addition made by the Ld. CIT(A) be sustained. 11. We have heard the rival contentions and perused the material available on record. From the submissions made by the Ld.AR, we find from the summary of sworn statements

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , VISAKHAPATNAM vs. POOSARLA SATYAVATHI, VIZIANAGARAM

In the result, appeal of the revenue is dismissed in limine and Cross objection filed is assessee is dismissed as infructuous

ITA 117/VIZ/2021[2014-15]Status: DisposedITAT Visakhapatnam30 Oct 2024AY 2014-15

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

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 56(2)(viib)Section 68

transferring it to the assessee company as investment in share capital. He therefore stated that the sources remained unexplained and hence the addition made by the Ld. CIT(A) be sustained. 11. We have heard the rival contentions and perused the material available on record. From the submissions made by the Ld.AR, we find from the summary of sworn statements