ODISHA POWER GENERATION CORPORATION LTD,BHUBANESWAR vs. CIT, BHUBANESWAR

ITA 216/CTK/2014Status: DisposedITAT Cuttack29 August 2017AY 2009-106 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT's order, finding that the Assessing Officer had not applied due diligence in examining the nature of expenditure and the validity of provisions. The CIT's direction for re-examination was deemed necessary.

What were the facts?

The assessee company's assessment for AY 2009-2010 was completed under Section 143(3). The CIT, invoking revisionary powers under Section 263, found the assessment order erroneous and prejudicial to revenue. The CIT directed re-examination of expenditure and provision claims.

What were the issues?

Whether the CIT correctly invoked Section 263 powers due to the AO's lack of application of mind in examining expenditure and provisions, making the assessment order erroneous and prejudicial to revenue.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 37(1)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI N.S.SAINI, AM & SHRI PAVAN KUMAR GADALE, JM

Hearing: 09/08/2017Pronounced: 29/08/2017

Per Shri Pavan Kumar Gadale, JM: The assessee company has filed an appeal against the order of CIT, Bhubaneswar, passed u/s.263 of the Income Tax Act, 1961 for the assessment year 2009-2010, and has raised the following grounds of appeal :-

1.

For that the notice issued by the commissioner of Income Tax, Bhubaneswar (CIT) under section 263 of the I.T. Act, 196l (the Act) are bad in law, void ab initio and is liable to be quashed.

2.

For that the order dated 24.03.2014 passed by the learned CIT under secti

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →