CIT v. Orissa Corporation Pvt. Ltd.

The Commissioner of I.T.-I, Hyderabad vs. M/S. Akash Cable Tv Network Pvt.Ltd., Hyderabad

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Amitkumar Agrawal, Surat vs. ACIT, Circle 1(2), Surat

In the result, ground No.4 is partly allowed

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 25/Srt/2024 (Ay 2017-18) (Physical Court Hearing) Amitkumar Agrawal Assistant Commissioner Of Income- I-2474-75, Millennium Textile Tax, Circle-1(2), Surat, बनाम Market, Ring Road, Room No.213, 2Nd Floor, Vs Surat-395 002 Aaykar Bhavan, Opp. [Pan : Ajtpa 4052 E] New Civil Hospital, Majura Gate, Surat-395 001 अपीलाथ"/Appellant ""थ" /Respondent

…thing about the payment of interest made after deducting TDS. To support his submission, ld. AR of the assessee relied upon the decision of jurisdictional High Court in case of DCIT vs. Rohini Builders, 256 ITR 360 (Guj.), CIT vs. Orissa Corporation (P) Ltd., 159 ITR 78 (SC), CIT vs. Ranchod Jivabhai Nakhava, (2012) 21 taxmann.com 159 (Guj.). 9. On the issue of disallowance of indirect expenses of ad hoc basis, the ld. AR of the assessee submits that expenses incurred by assessee for the purpose of business. The assessee furnished the details, however, Assessing Officer disallowed the expenses @ 20%. Before ld. C…

DCIT, Central Circle, Agra vs. Alnoor Exports, New Delhi

In the result, both the appeals of the revenue are dismissed

Bench: Shri M. Balaganesh(Through Virtual Hearing)

…ice u/s 133(6) of the Act were not responded by the parties, for which, in our considered opinion, the Assessee could not be faulted with. Reliance in this regard is placed on the decision of Hon’ble Supreme Court in the case of Orissa Corporation reported in 159 ITR 78 (SC), that merely because the third party confirmations were not received in response to notice u/s 133(6) of the Act, the genuineness of transactions of the Assessee could not be doubted by the revenue. 8. In view of the aforesaid facts and observations and respectfully following the decision of Hon’ble Apex Court referred supra, we do not find…

DCIT, Central Circle, Agra vs. Alnoor Exports, New Delhi

In the result, both the appeals of the revenue are dismissed

Bench: Shri M. Balaganesh**

…ice u/s 133(6) of the Act were not responded by the parties, for which, in our considered opinion, the Assessee could not be faulted with. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Orissa Corporation reported in 159 ITR 78 (SC), that merely because the third party confirmations were not received in response to notice u/s 133(6) of the Act, the genuineness of transactions of the Assessee could not be doubted by the revenue. - 8. In view of the aforesaid facts and observations and respectfully following the decision of Hon'ble Apex Court referred supra, we do not fin…

Kalpana Mishra, Bhubaneswar vs. ITO, Ward 5(4), Bhubaneswar

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

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अपील संसंसंसं/Ita No.491/Ctk/2024 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Year : 2016-2017) वष" Kalpana Mishra, Vs Ito Ward-5(4), Bhubaneswar Plot No.B-87/A, Chandaka Industrial Estate, Patia, Bhubaneswar-751024 Pan No. :Alfpm 2864 E (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. िनधा"रती िनधा"रती क" िनधा"रती िनधा"रती क" क" ओर क" ओर ओर सेसेसेसे /Assessee By ओर : Shri B.R.Pattnaik, Ca राज"व राज"व क" राज"व राज"व क" क" ओर क" ओर ओर सेसेसेसे /Revenue By ओर : Shri S.C.Mohanty, Sr. Dr सुनवाई क" तारीख / Date Of Hearing : 28/01/2025 घोषणा क" तारीख/Date Of Pronouncement : 28/01/2025 आदेश आदेश / O R D E R आदेश आदेश Per Bench : This Is An Appeal Filed By The Assessee Against The Order Dated 07.03.2024, Passed By The Cit(A), National Faceless Appeal Centre (Nfac), Delhi In Din & Order No.Itba/Nfac/S/250/2023- 24/1062168195(1) For The Assessment Year 2016-2017, On The Following Grounds :- 1. Hon'Ble Cit(Appeals), Nfac Has Erred In Law & On Facts In Confirming The Action Of The Learned Ao Even Though The Learned Ao Has Exceeded His Jurisdiction In A Limited Scrutiny Case Selected Under Cass Only To Examine Whether The Investment & Income Relating To Securities Transactions Are Duly Disclosed Or Not & Added A Sum Of Rs.44,00,000.00 U/S 68 Of The Income Tax Act, 1961, Without Obtaining Prior Administrative Approval Of The Concerned Pr. Cit/Cit As Prescribed In Circular F. No. 225/402/2018/Ita.Ii, Dated 28- 11-2018 & Instruction No.5/2016 [F.No.225/269/2015-

…side the issue to the file of AO to make necessary verification of the loan credits and if needed, necessary summons to be issued to such loan creditors as has been held by the Hon’ble Supreme Court in the case of 20 Odisha Corporation (P) Ltd., reported in 158 ITR 78 (SC). Needless to say, the assesee be provided a reasonable opportunity before concluding the issue. Thus, this ground of appeal is partly allowed for statistical purposes. 12. In the result, appeal of the assessee is partly allowed for statistical purposes. Order dictated and pronounced in the open court on 28/01/2025. (GEORGE MATHAN) (MANISH…