M/S. ORISSAN MINING CORPORATION LIMITED,BHUBANESWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

ITA 330/CTK/2019Status: DisposedITAT Cuttack21 June 2022AY 2016-172 pages

AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal dismissed the addition made by the AO and confirmed by the CIT(A). The decision was based on the reasoning provided in a prior appeal for assessment year 2013-2014.

What were the facts?

The assessee appealed against the CIT(A)'s order confirming the AO's action of treating the sale of old stock of Gandhamardan Block-A as undisclosed sales. The issue was identical to a previous assessment year's appeal.

What were the issues?

Whether the sale of old stock of Gandhamardan Block-A can be treated as undisclosed sales.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI GEORGE MATHAN & SHRI ARUN KHODPIA

Hearing: 21/06/2022Pronounced: 21/06/2022

Shri Siddharth Ranjan, CA for the assessee Shri M.K.Gautam, CIT-DR for the Revenue Date of Hearing : 21/06/2022 Date of Pronouncement : 21/06/2022 आदेश / O R D E R Per Bench : This is an appeal filed by the assessee against the order of the ld. CIT(A)-1, Bhubaneswar, dated 16.08.2019 passed in I.T.Appeal No.0472/17-18 for the assessment year 2016-2017.

The only issue in this appeal is against the action of the ld. CIT(A) in confirming the action of the AO treating the sale of old stock of Gandhamardan Block-A as undisclosed sales.

The issue is identical to the issue as decided for A.Y.2013-2014 in ITA No.37/CTK/2019. The facts remain the same, only the figures

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