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IN THE HIGH COURT OF ORISSA AT CUTTACK
ITA No.145 of 2018
Principal Commissioner of Income Tax-1, Bhubaneswar
…. Appellant (s)
Mr. T.K. Satapathy, Sr. Standing Counsel
-versus-
Indian Metals & Ferro Alloys Ltd., Bhubaneswar
…. Respondent (s) Mr. S. Jolly, Adv.
CORAM: DR. JUSTICE S.K. PANIGRAHI MR JUSTICE G. SATAPATHY ORDER 07.02.2024 Order No.
1. This matter is taken up through hybrid arrangement.
Learned counsel for the parties are present. Judgment prepared in separate sheets is delivered and pronounced in open Court in the presence of learned counsel for the parties and the order is passed accordingly as follows:-
In the present case, the assessing officer has not relied on any new material which has come to light after the initial assessment on 31.12.2011. Even as regards the issue of disallowance under Section 40(a)(ia), the Assessing Officer did not form a decision on the basis of any fresh or new material. Rather, the same material Digitally Signed Signed by: BHABAGRAHI JHANKAR Designation: Assistant Registrar-cum-Senior Secretary Reason: Authentication Location: ORISSA HIGH COURT, CUTTACK Date: 23-Apr-2024 17:11:20 Signature Not Verified
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has been relied on to initiate reassessment. Moreover, no suppression of information has been proved. In light of this, there is no need to interfere with the finding of the tribunal. Thus, the Appeal is dismissed. No order as to cost.
(Dr.S.K.Panigrahi) Judge
(G.Satapathy) Judge
B. Jhankar Digitally Signed Signed by: BHABAGRAHI JHANKAR Designation: Assistant Registrar-cum-Senior Secretary Reason: Authentication Location: ORISSA HIGH COURT, CUTTACK Date: 23-Apr-2024 17:11:20 Signature Not Verified