ACIT, SAMBALPUR vs. M/S MAHANADI COALFIELDS LTD, SAMBALPUR
In the result, appeals filed by the revenue for the assessment years
ITA 397/CTK/2013[2010-11]Status: DisposedITAT Cuttack20 Mar 2018AY 2010-11
Bench: S/Shri N.S Saini & Pavan Kumar Gadale
For Appellant: Shri S.S.Poddar/N.Kedia, ARFor Respondent: Shri Piyush Kolhe, CIT DR
Section 143(3)
gains from business. The CIT(A) on perusal of Annual reports & account
of the assessee for the financial year 2009-2010, observed that the
assessee has shown profit on sale of assets of Rs.1589.25 lakhs under the
head “other income” as per Schedule-4 to P&L account and claimed as
loss on sale/discarded assets of Rs.33.11 lakhs. Therefore
