DCIT, CORPORATE CIRCLE- 1(1), BHUBANESWAR vs. M/S. GRID CORPORATION OF ORISSA LTD., BHUBANESWAR

In the result, both the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.34 & 35/Ctk/2019 2019 Assessment Assessment Years : 2013-14 & 2014 14 & 2014-15 M/S. Grid Corporation Of M/S. Grid Corporation Of Vs. Dcit, Circle Dcit, Circle -1(1), Orissa Ltd., Gridco House, Orissa Ltd., Gridco House, Bhubaneswar. Bhubaneswar. Janpath, Bhubaneswar Janpath, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabcg 5398 P (Appellant (Appellant) .. ( Respondent Respondent)

Section 263 confers sufficient powers upon the Commissioner to decide all issues of law, after recording its satisfaction that the order passed by the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. The power is wide enough to take in its sweep the action of modifying, cancelling or directing fresh assessment, particularly when

M/S. GRID CORPORATION OF ORISSA LIMITED,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANSWAR

In the result, both the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.34 & 35/Ctk/2019 2019 Assessment Assessment Years : 2013-14 & 2014 14 & 2014-15 M/S. Grid Corporation Of M/S. Grid Corporation Of Vs. Dcit, Circle Dcit, Circle -1(1), Orissa Ltd., Gridco House, Orissa Ltd., Gridco House, Bhubaneswar. Bhubaneswar. Janpath, Bhubaneswar Janpath, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabcg 5398 P (Appellant (Appellant) .. ( Respondent Respondent)

Section 263 confers sufficient powers upon the Commissioner to decide all issues of law, after recording its satisfaction that the order passed by the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. The power is wide enough to take in its sweep the action of modifying, cancelling or directing fresh assessment, particularly when

DCIT, CORPORATE CIRCLE- 1(1), BHUBANESWAR vs. M/S. GRID CORPORATION OF ORISSA LTD., BHUBANESWAR

In the result, both the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.34 & 35/Ctk/2019 2019 Assessment Assessment Years : 2013-14 & 2014 14 & 2014-15 M/S. Grid Corporation Of M/S. Grid Corporation Of Vs. Dcit, Circle Dcit, Circle -1(1), Orissa Ltd., Gridco House, Orissa Ltd., Gridco House, Bhubaneswar. Bhubaneswar. Janpath, Bhubaneswar Janpath, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabcg 5398 P (Appellant (Appellant) .. ( Respondent Respondent)

Section 263 confers sufficient powers upon the Commissioner to decide all issues of law, after recording its satisfaction that the order passed by the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. The power is wide enough to take in its sweep the action of modifying, cancelling or directing fresh assessment, particularly when

M/S. GRID CORPORATION OF ORISSA LIMITED,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANSWAR

In the result, both the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.34 & 35/Ctk/2019 2019 Assessment Assessment Years : 2013-14 & 2014 14 & 2014-15 M/S. Grid Corporation Of M/S. Grid Corporation Of Vs. Dcit, Circle Dcit, Circle -1(1), Orissa Ltd., Gridco House, Orissa Ltd., Gridco House, Bhubaneswar. Bhubaneswar. Janpath, Bhubaneswar Janpath, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabcg 5398 P (Appellant (Appellant) .. ( Respondent Respondent)

Section 263 confers sufficient powers upon the Commissioner to decide all issues of law, after recording its satisfaction that the order passed by the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. The power is wide enough to take in its sweep the action of modifying, cancelling or directing fresh assessment, particularly when

M/S GRID CORPORATION OF ORISSA LTD.,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, both the appeals of the assessee stand allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.34 & 35/Ctk/2019 2019 Assessment Assessment Years : 2013-14 & 2014 14 & 2014-15 M/S. Grid Corporation Of M/S. Grid Corporation Of Vs. Dcit, Circle Dcit, Circle -1(1), Orissa Ltd., Gridco House, Orissa Ltd., Gridco House, Bhubaneswar. Bhubaneswar. Janpath, Bhubaneswar Janpath, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabcg 5398 P (Appellant (Appellant) .. ( Respondent Respondent)

Section 263 confers sufficient powers upon the Commissioner to decide all issues of law, after recording its satisfaction that the order passed by the Assessing Officer is erroneous and prejudicial to the interest of the Revenue. The power is wide enough to take in its sweep the action of modifying, cancelling or directing fresh assessment, particularly when

MANOJ KUMAR DAS,MAYURBHANJ vs. PRINCIPAL CIT, CUTTACK

In the result, Appeal of the assessee in ITANo

Section 263 of the Income Tax Act. 3. For the above reasons, civil appeals filed by the department stand dismissed. 4. No order as to costs. 14. Similar view was also taken by the Coordinate Bench Kolkata in the case of Rakshit Transport vs. CIT (ITANo.809/KOl/2012 observing as follows: 6. We have considered the rival submissions. A perusal

M/S. VISION HABITATE & SERVICES PVT. LTD.,SAMBALPUR vs. PR. CIT, SAMBALPUR

In the result, the appeal of assessee is allowed

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.214/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Vision Habitate & Services Vs. Pr. Cit, Sambalpur-768004 Private Limited, Kadambari Complex, Gole Bazar, Sambalpur-768001 Pan No. : Aadcn 4768 J (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.N.Agrawal/Binod Agrawal, Ars राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तारीख / Date Of Hearing : 25/08/2020 घोषणा की तारीख/Date Of Pronouncement : 31/08/2020 आदेश / O R D E R Per L.P.Sahu, Am: This Is An Appeal Filed By The Assessee Against The Order Passed By The Pr.Cit, Sambalpur, Dated 30.03.2019 For The A.Y.2014-2015 On The Following Grounds :- 1. That The Order U/S. 263 Is Bad In Law As Well As In Facts. 2. That The Order U/S. 263, Stated To Have Been Passed On 30.03.2019, Is Ante Dated & Barred By Limitation, Being Issued & Served Upon The Appellant On 30.04.2019, Which Is After The Expiry Of Period Of Limitation On 31.03.2019. 3. That The Assessment Order Dt.29.12.2016 Making An Addition Of Rs.27,51,100 To The Returned Income U/S.56(2)(Viib) Consequent Upon Valuation Of Book Value Of 4,510 Nos. Of Equity Shares @ Rs.739 Per Share As On 31.03.2013 Allotted On 31.03.2014 @ Rs.1,349 Per Share. Thus, The Difference Of Rs.610 Per Share Multiplied By 4,510 Nos. Of Shares Allotted Coming To Rs.27,51,100 Has Been Added As Above By The Id. Ao. The Said Valuation & The Consequential Addition Has Been Disputed By The Appellant In The Appeal In Form No.35 E-Filed Before The Id.

263. Revision on mere chancre of opinion or possibility of a second view f Ground No.7 1. There are two limbs in Section 56(2)(viib) of the I. T. Act, 1961. As per Explanation to Section 56(2)(viib), the first limb is FMV of the shares to 7 be made as pw the prescribed method. In fact

DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR vs. M/S. PARADEEP PHOSPHATES LIMITED, BHUBANESWAR

In the result, appeal filed by the revenue is dismissed and that of

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2010-2011

TDS u/s 195 on payments remitted against purchases was examined by the Ld. AO in response to the Order issued by Ld. CIT u/s 263 relating to the AY 2006-07. On examination the Ld AO, confirmed in his Order that Section

CHANDI FILLING STATION,CUTTACK vs. PRINCIPAL CIT-1, BHUBANESWAR

In the result, appeal of the assessee stands partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year: 2017-18 Chandi Chandi Filling Filling Station, Station, Vs. Pr. Cit-1, Manguli, Cuttack Manguli, Cuttack Bhubaneswar Bhubaneswar Pan/Gir No Pan/Gir No.Aacfc 8350 K (Appellant) ) .. ( Respondent Respondent)

section 115BBE on the addition made u/s.69A of Rs.80,000/- and on account of non-deduction of TDS on the payment made to Bajaj Finance ltd. On the other issues, the order of the pr. CIT u/s 263

M/S. B.K. JENA & ASSOCIATES,KUJANG vs. PR. CIT, CUTTACK

In the result, appeal of the assessee stands partly allowed

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2014-15 M/S. B.K.Jena & Associates, M/S. B.K.Jena & Associates, Vs. Pr. Cit, Cuttack Pr. Cit, Cuttack Rangiagarh, Rangiagarh, Jhimani, Jhimani, Kujang, Kujang, Jagatsinghpur Jagatsinghpur Pan/Gir No. No.Aagfb 4157 P (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty P.R.Mohanty, Ar Revenue By : Shri M.K.Gautam, Cit ( Cit (Dr) Date Of Hearing : 16/9/ 20 / 2022 Date Of Pronouncement : 16/ /9/2022 O R D E R Per Bench

section 263 to say that the impugned assessment order was passed without making enquiries or verification which ought to have been made thereby making it erroneous and prejudicial to the interest of the revenue. It was the submission that the impugned assessment year is 2014-15 and said explanation came into Act w.e.f. 1.6.2015 and consequently, the said explanation

KENDRAPARA URBAN CO-OPERATIVE BANK LTD.,KENDRAPADA vs. PR.COMMISSIONER OF INCOME TAX, CUTTACK

In the result, appeal of the assessee stands allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita No.163/Ctk/2020 (ननधाारण वषा / Assessment Year :2015-2016) Kendrapara Urban Co-Operative Vs Pr.Cit, Cuttack Bank Ltd., College Square, Tinimuhani, Kendrapara-754211 Pan No. :Aaatk 8347 E (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) ननधााररती की ओर से /Assessee By : Shri P.C.Sethi, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 30/01/2023 घोषणा की तारीख/Date Of Pronouncement : 30/01/2023 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld Pr.Cit, Cuttack, Dated 24.03.2020, Passed In Din & Order No.Itba/Com/F/17/2019-20/1026884702(1) For The Assessment Year 2015-2016. 2. The Appeal Of The Assessee Is Barred By 8 Days. The Assessee Through Its Secretary Has Filed An Application Dated 13.07.2020 Stating Therein Sufficient Reasons For Condonation Of Delay, To Which Ld. Cit-Dr Did Not Object. In View Of The Above, Delay Of 8 Days In Filing The Present Appeal Is Condoned & The Appeal Of The Assessee Is Heard Finally. 3. It Was Submitted By The Ld. Ar That The Original Assessment In The Case Of The Assessee Was Completed U/S.143(3) Of The Act On 20.11.2017. It Was The Submission That The Assessment Was A Limited Scrutiny

TDS has been made and consequence of the provisions of Section 40(a)(ia) of the Act. It was the submission that the original assessment being a limited scrutiny, the powers of the ld. Pr.CIT in respect of the revision was limited to the issues raised in the limited scrutiny and the issues as raised by the ld. Pr.CIT

SISKHA 'O' ANUSANDHAN,BHUBANESWAR vs. CIT (EXEMPTION), , HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita No.91/Ctk/2022 (ननधाारण वषा / Assessment Year :2017-2018) Siksha ‘O’ Anusandhan Vs Cit(Exemption), Hyderabad Plot No.224, Dharma Vihar, Khandagiri, Bhubaneswar Pan No. :Aabts 1525 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

TDS as expenditure. Copies of the challans evidencing such payment were furnished before Ld. CIT(Exemption) for verification. 10.That the assesse trust runs Hospital, many educational institutions. Puja expenses are incurred for carrying on the day to day activities in hospital and educations institutions. This expenditure is made in business exigencies. In order to determine Business expenditure the test

M/S. BRAHMANI RIVER PELLETS LIMITED,BHUBANESWAR vs. PRINCIPAL CIT-1, BHUBANESWAR

In the result, appeal of the assessee stands allowed

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2018-19 M/S. Brahmani River Pellets M/S. Brahmani River Pellets Vs. Pr. Cit-1, Limited., 4Th Floor, Ipicol Limited., 4 Bhubaneswar Bhubaneswar House, House, Janapath, Janapath, Sahid Sahid Nagar, Bhubaneswar. Nagar, Bhubaneswar. Pan/Gir No Pan/Gir No.Aaccb 9418 Q (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri A.K.Sabat & B.K.Mahapatra, Cas B.K.Mahapatra, Cas Revenue By : Shri Sanjay Kumar, Cit : Shri Sanjay Kumar, Cit Dr Date Of Hearing : 22/0 05/2024 Date Of Pronouncement : 22/0 /05/2024 O R D E R Per Bench

TDS on interest paid’ and in para 7.1.1, the issue was dropped. In para 7.2, he raises the issue of ‘applicability of section 40A(3) and in page 23, he mentions that the duty drawback is not specifically mentioned in the notes forming part of the accounts. He does not give any finding as to whether the figures and submissions

PARADEEP PHOSPHATES LIMITED,BHUBANESWAR vs. ACIT, BHUBANESWAR

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

TDS on import of purchase material where the provisions of Section 195 and 40(a)(i) of the Act are applicable to the assessee. The contention of ld. DR are based on the findings of AO and supported his order, we found as per the submissions of the ld. AR this disputed issue is covered by the decision

KAMLESH KUMAR JAIN,JAJPUR vs. CIT, CUTTACK

In the result, appeal of the assessee is dismissed

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.265/Ctk/2015 (धनधाारण वषा / Assessment Year :2010-2011) Sri Kamlesh Kumar Jain, Vs. Cit, Cuttack C/O-Jain Transport, Chandikhole, At-Sunguda, Jajpur स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aejpj 7987 H (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) निर्ााररती की ओर से /Assessee By : Shri R.K.Jhunjhunwala, Ar राजस्व की ओर से /Revenue By : Shri A.K.Mohapatra, Citdr सुनवाई की तारीख / Date Of Hearing : 19/09/2017 घोषणा की तारीख/Date Of Pronouncement 22/09/2017 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Assessee Has Filed An Appeal Against The Order Of Cit, Cuttack, Dated 31.03.2015, Passed U/S.263 Of The Income Tax Act, 1961 For The Assessment Year 2009-2010, Wherein The Assessee Has Raised The Following Grounds :- 1. For That The Learned Cit Has Erred Both In Law & Fact In Invoking The Provisions Of Section 263 Without Satisfying The Requirement Of Law. 2. For That, The Learned Cit Is Wrong & Unlawful In Passing An Order Under Section 263 For Having Disagreement With The Opinion Of Ao, Which Is Not Unlawful. 3. For That The Learned Cit Has Erred Both In Law & Fact By Holding That Exercise Of Power Under Section 263 Is Justified Even In Case Of In Adequate Inquiry By Ao. 4. For That The Learned Cit (Appeal) Has Erred Both In Law & Fact By Passing Order By Exercising Power Under Section 263 Without Having Any Cogent Material On Hand. 5. The Assessee Craves The Leave Of This Honorable Bench To Add, Alter, Modify, Substitute Anv Of The Above Grounds Or Submit Any Fresh Additional Grounds During Appeal Proceeding.

section 263 without having any cogent material on hand. 5. The assessee craves the leave of this Honorable bench to add, alter, modify, substitute anv of the above grounds or submit any fresh additional grounds during appeal proceeding. 2 2. Brief facts of the case are that the assessee is engaged in the business of transportation and construction activities

OMM SHREE REALCON PVT. LTD,BHUBANESWAR vs. PR.CIT-1, BHUBANESWAR

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & And Rajesh Kumarassessment Year : 2018-19 Om Shree Realcon Pvt Ltd., Om Shree Realcon Pvt Ltd., Vs. Pr. Cit- Bhubaneswar Bhubaneswar-1 Plot No.418, Forest Park, 8, Forest Park, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabco 3118 P (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.K.Sarangi, Ca S.K.Sarangi, Ca Revenue By : Shri M.K.Gautam, Pr. Cit (Osd) Pr. Cit (Osd) Date Of Hearing : 28 /0 06/2023 Date Of Pronouncement : 28 /0 /06/2023 O R D E R Per Bench

TDS. The Hon'ble Bombay High Court in the case of Walchand & Co. vs. CIT (100 ITR 598) held as under " By its objects clause the trust company was, inter alia, authorised to advance or loan moneys on security of shares, stocks, etc., and also to receive moneys on deposit, interest or otherwise and to lend moneys to other persons

DCIT, BHUBANESWAR vs. M/S. PARADEEP PHOSPHATES LIMITED, BHUBANESWAR

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

TDS on import of purchase material where the provisions of Section 195 and 40(a)(i) of the Act are applicable to the assessee. The contention of ld. DR are based on the findings of AO and supported his order, we found as per the submissions of the ld. AR this disputed issue is covered by the decision

PRADEEP SINGH GREWAL,MAYURBHANJ vs. CIT, CUTTACK

In the result, the appeal filed by the assessee is dismissed

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year :2007-08

263 pursuant to the direction of the CIT. Considering the apparent facts of non-deduction of TDS by the assessee and further that the assessee is not serious in prosecuting his appeal before the CIT or even before the Tribunal, we are of the considered opinion that the order under section

M/S KHANDELWAL STEEL & PIPES,BHUBANESWAR vs. ACIT, CUTTACK

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

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.138/Ctk/2019 (नििाारण वषा / Assessment Year :2012-2013) M/S Khandelwal Steel & Pipes, Vs. Dcit, Circle-4(1), 614, Bomikhal, Cuttack Puri Rd Bhubaneswar Bhubanewswar-751010 स्थायी लेखा सं./Panno. : Aagfk 7718 R (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Shadiram Sharma, Advocate िाजस्व की ओर से /Revenue By : Shri J.K.Lenka, Dr

TDS 5 on payment of interest as per the provision of Section 194A of the Act, the AO made addition u/s.40(a)(ia) of the Act. However, the assessee before CIT(A) has furnished an affidavit stating the reason for non- submission or late submission of declaration Form 15-G/15-H, that it was a technical mistake and never a willful