DCIT, CIRCLE-1(1), BHUBANESWAR, BHUBANESWAR vs. M/S. KALINGA POWER CORPORATION PVT. LTD., BHUBANESWAR
In the result, appeal of the revenue is dismissed
ITA 250/CTK/2014[2007-08]Status: DisposedITAT Cuttack29 Aug 2017AY 2007-08
Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.250/Ctk/2014 ("नधा"रण वष" / Assessment Year :2007-2008) Dcit, Cir-1(1), Bhubaneswar Vs. M/S Kalinga Power Corporation Pvt. Ltd., M-10, Samanta Vihar, Nalco Square, Near Kalinga Hospital, Bhubaneswar-751017 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaack 7224 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. राज"व क" ओर से /Revenue By : Shri Kunal Singh,Citdr "नधा"रती क" ओर से /Assessee By : None सुनवाई क" तार"ख / Date Of Hearing : 21/08/2017 घोषणा क" तार"ख/Date Of Pronouncement 29/08/2017 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Revenue Has Filed An Appeal Against The Order Of Cit(A), Berhampur (Camp: Bhubaneswar), Dated 21.03.2014, Passed In I.T.Appeal No.0226/10-11(Bbs), U/S.143(3)/147 Of The Income Tax Act, 1961 For The Assessment Year 2007-2008, Wherein The Revenue Has Raised The Following Grounds :- 1. On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Was Not Justified In Accepting The Contention Of The Assessee & Deleting The Addition Of Rs.7,14,20,259/- Made By The Ao On Account Of Unexplained Advance Against Share Capital. 2. None Appeared On Behalf Of The Assessee When The Matter Was Called For Hearing, Neither Any Adjournment Application Was Placed On Record By The Assessee, Therefore, The Bench Deem It Fit Dispose Off The 2 Appeal On The Basis Of Material Available On Record & The Submissions
For Appellant: NoneFor Respondent: Shri Kunal Singh,CITDR
Section 143(1)Section 143(2)Section 143(3)Section 148Section 68
dividend income and short term capital gains and filed the
return of income electronically for the assessment year 2008-09 on 30.11.2007 with total income of Rs.5,54,788/- and the return of income
was processed u/s.143(1) of the Act. Subsequently, the AO had reason to
believe that income has escapement assessment and issued notice
u/s.148
