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42 results for “depreciation”+ Section 73clear

Sorted by relevance

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Key Topics

Addition to Income39Disallowance24Section 143(3)15Section 143(1)9Section 2639Natural Justice9Limitation/Time-bar7Condonation of Delay7Section 143(2)

THE DHAMRA PORT COMPANY LIMITED,ODISHA vs. DCIT,CIRCLE 1(2), BHUBANESWAR, AAYAKAR BHAWAN, RAJASWA VIHAR, BHUBANESWAR, ORISSA

In the result, appeal of the assessee is allowed with the direction

ITA 309/CTK/2024[2017-18]Status: HeardITAT Cuttack18 Nov 2024AY 2017-18
Section 115JSection 143(3)Section 250

sections 72, 73, 74, 74A and 75 etc. From here we gather that by using the words 'amount' and 'loss' in this clause, the point has been made clear that it is a composite figure each of the unabsorbed depreciation

ADHIKAR,BHUBANESWAR vs. ITO, WARD-2(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 255/CTK/2017[2012-13]Status: DisposedITAT Cuttack27 Sept 2018AY 2012-13

S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year : 2012-2013

Showing 1–20 of 42 · Page 1 of 3

6
Section 271(1)(c)6
Depreciation6
Section 115J5
Bench:
For Appellant: Shri S.C.Bhadra, ARFor Respondent: Shri Subhendu Datta, DR
Section 11Section 11(1)(a)Section 28Section 29Section 30Section 32Section 32(1)Section 34Section 43C

section 11 P a g e 3 | 7 ITA No. 255/CT K/ 2017 Asse ssment Year : 20 12- 13 In view of the aforesaid judgment of the Hon’ble Bombay High Court, the Hon’ble Supreme Court answered the question No.1 in the affirmative in favour of the assessee and against the revenue. Respectfully following the above quoted decision

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)

depreciation thereon. 73. We heard the rival submissions and perused the record of the case. The assessee company has shown the gain on sale of assets as profit for accounting purpose. As per section

AMBIKA CONSTRUCTION COMPANY,BARIPADA vs. DCIT, BALASORE

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

ITA 191/CTK/2015[2011-12]Status: DisposedITAT Cuttack17 Mar 2020AY 2011-12

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.191/Ctk/2015 (नििाारण वषा / Assessment Year : 2011 - 2012) Ambika Construction Company, Vs. Dcit, Balasore Circle, C/O Mangal Kumar Bhaumik, Balasore Ward No.11, Station Bazar, Baripada-757001 स्थायी ऱेखा सं./Pan No. : Aaffa 2848 B (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri J.M.Pattnaik, Advocate राजस्व की ओर से /Revenue By : Shri Subhendu Dutta, Dr सुनवाई की तारीख / Date Of Hearing : 22/01/2020 घोषणा की तारीख/Date Of Pronouncement : 17/03/2020 आदेश / O R D E R Per L.P.Sahu, Am : This Is An Appeal Filed By The Assessee Against Order Of Cit(A), Cuttack, Dated 27.02.2015 For The Assessment Year 2011-2012. 2. On Perusal Of The Appeal Record, We Find That Initially The Appeal Of The Assessee Was Disposed Off By The Tribunal Vide Order Dated 29.05.2017. Thereafter The Assessee Carried The Matter To The Hon’Ble Jurisdictional High Court & The Hon’Ble High Court Quashed The Order Of The Tribunal Vide Order Dated 24.04.2019 & Remitted The Matter Back For Consideration Of The Case Of The Assessee In The Light Of The Decision As Has Been Held By The Hon’Ble High Court In Income Tax (Appeal) No.36 Of 2015, Vide Order Dated 20.08.2018 In The Case Of 2 Mohd. Asif Habibi Vs. Pr. Cit & Others. Thereafter As Per The Direction

For Appellant: Shri J.M.Pattnaik, AdvocateFor Respondent: Shri Subhendu Dutta, DR
Section 143(1)Section 143(2)Section 143(3)

Section 44AD of the Act in the present case of the assessee would not be applicable. For completeness the order, we would like to reproduce the observations of the AO made in the assessment order at paras 6 & 7 as under :- 6 Considering the nature of business carried out by the assessee, the net profit disclosed @ 2.76% is extremely

RUKMANI INFRA PROJECTS PVT. LTD.,BHUBANESWAR vs. ACIT, CIRCLE-1(2), BHUBANESWAR

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

ITA 358/CTK/2017[2013-14]Status: DisposedITAT Cuttack30 Mar 2022AY 2013-14

Bench: Shri Chandra Mohan Garg, Jm & Shri Arun Khodpia, Am आयकर अपीऱ सं./Ita No.358/Ctk/2017 (नििाारण वषा / Assessment Year :2013-2014) Rukmani Infra Projects Ltd., Vs Acit, Circle-1(2), Bhubaneswar Plot No.251, District Centre, C.S.Pur, Bhubaneswar-16 Pan No. : Aaecr 1585 L (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : None : Shri Manoj Kumar Goutam, Cit-Dr राजस्व की ओर से /Revenue By सुनवाई की तारीख / Date Of Hearing : 08/03/2022 घोषणा की तारीख/Date Of Pronouncement : 30/03/2022 आदेश / O R D E R Per Arun Khodpia, Am : This Appeal Filed By The Assessee Has Been Directed Against The Order Passed By The Ld. Cit(A)-1, Bhubaneswar, Dated 16.06.2017, For The Assessment Year 2013-2014. 2. Brief Facts Of The Case Extracted From The Available Records Are That, The Assessee, A Company Incorporated Under The Companies Act, 1956, Engaged In The Business Of Erection, Commissioning, Technical & Maintenance Service To Different Power Plants. The Return Of Income For The Ay 2013-14 Was Filed By The Assessee On 01.10.2013 Declaring A Total Income Of Rs.1,65,91,030/-. The Case Of The Assessee Was Selected Under Cass. Notice U/S 143(2) & 143(1) Were Issued & Served On The Assessee. Assessment Proceedings Were Completed By The Ao & Concluded With An Addition Of Rs.3,58,95,574/- Under Four Different

For Appellant: None
Section 143(2)Section 68

73,811 3 15/08/2012 13/12/2012 12,03,709 4 15/09/2012 30/09/2013 12,30,904 5 15/10/2012 30/09/2013 11,34,696 6 15/11/2012 23/09/2013 13,62,799 7 15/12/2012 23/09/2013 12,10,295 8 15/01/2013 23/09/2013 11,56,620 9 15/02/2013 23/09/2013 10,00,118 10 15/03/2013 23/09/2013 9,06,116 11 15/04/2013 30/09/2013

FAHMIDA INTERNATIONAL (P) LIMITED,BHUBANWEAWAR vs. DCIT,CIRCLE-2(1), BHUBANESWAR

In the result, appeal of the assessee is allowed

ITA 215/CTK/2020[2009-10]Status: HeardITAT Cuttack26 Dec 2022AY 2009-10

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No. A No.69/Ctk/2013: Assessment Year: Year: 2008-2009 It(Ss)A No. A No.50/Ctk/2013: Assessment Year: Year: 2009-2010

For Appellant: Shri Sunil Mishra, ARFor Respondent: Shri M.K.Gautam, CIT

depreciation. 19. Ld CIT DR submitted that the Assessing Officer had made an assessment of Rs.15,39,73,507/-, which had been reduced by the ld CIT(A) to Rs.1,54,98,904/-. It was the submission that the ld CIT(A) ought not to have considered the audit report of the assessee to reduce the income. 20. In reply

FAHMIDA INTERNATIONAL (P) LTD.,BHUBANESWAR vs. ACIT, BHUBANESWAR

In the result, appeal of the assessee is allowed

ITA 400/CTK/2015[2011-12]Status: HeardITAT Cuttack26 Dec 2022AY 2011-12

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiait(Ss)A No. A No.69/Ctk/2013: Assessment Year: Year: 2008-2009 It(Ss)A No. A No.50/Ctk/2013: Assessment Year: Year: 2009-2010

For Appellant: Shri Sunil Mishra, ARFor Respondent: Shri M.K.Gautam, CIT

depreciation. 19. Ld CIT DR submitted that the Assessing Officer had made an assessment of Rs.15,39,73,507/-, which had been reduced by the ld CIT(A) to Rs.1,54,98,904/-. It was the submission that the ld CIT(A) ought not to have considered the audit report of the assessee to reduce the income. 20. In reply

DCIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. NATIONAL ALUMINIUM COMPANY LIMITED, BHUBANESWAR

In the result, appeal of the assessee i

ITA 339/CTK/2016[2010-11]Status: DisposedITAT Cuttack27 Apr 2018AY 2010-11

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अऩीऱ सं./Ita No.339 & 340/Ctk/2016 Dcit, Corporate Circle1(2)/ Vs. National Aluminium Company Acit, Circle-2(2), Limited, Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अऩीऱ सं./Ita No.352 & 353/Ctk/2016 & Ita No.374/Ctk/2014 (नििाारण वषा / Assessment Year :2010-11, 2012-13 & 2011-12) National Aluminium Company Vs. Jcit Range-2/ Limited, Acit, Corporate Circle-1(2) Nalco Bhavan, P/1, Nayapalli, Bhubaneswar Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & Cross Objection No.01/Ctk/2015 & 25/Ctk/2016 (Arising Out Of Ita Nos.376/Ctk/14 & Ita No.340/Ctk/2016) (नििाारण वषा / Assessment Year :2011-2012 & 2012-2013) National Aluminium Company Vs. Acit, Circle-2(2)/ Limited, Dcit, Corporate Circle- Nalco Bhavan, P/1, Nayapalli, 1(2), Bhubaneswar Bhubaneswar स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Ved Jain/B.K.Mahapatra, ARsFor Respondent: Shri Saad Kidwai, CIT DR
Section 14A

section 195 of the Act, there ought not be any addition/ disallowance u/s.40(a)(i) of the Act and the disallowance of the said Rs. 4,36,5942/- is contrary to facts, arbitrary, unjustified, erroneous and bad in law. c. That the learned CIT(Appeals) stating that no explanation has been offered in respect of the aforesaid addition/disallowance

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. M/S. NATIONAL ALUMINIUM COMPANY LTD., BHUBANESWAR

In the result, appeal of the assessee i

ITA 197/CTK/2017[2013-14]Status: DisposedITAT Cuttack28 Jun 2018AY 2013-14

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.197/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhawan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.211/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & Cross Objection No.10/Ctk/2017 (Arising Out Of Ita No.197/Ctk/2017) ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri B.K.Mahapatra,Ca राज"व क" ओर से /Revenue By : Shri Saad Kidwai, Citdr सुनवाई क" तार"ख / Date Of Hearing : 27/06/2018 घोषणा क" तार"ख/Date Of Pronouncement 29/06/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Co No.10/Ctk/2018 Bhubaneswar, Passed In It Appeal No.0511/15-16, Dated 03.02.2017 For The Assessment Years 2013-2014. 2. Since Issues In Both The Appeals Are Common, They Were Heard

For Appellant: Shri B.K.Mahapatra,CAFor Respondent: Shri Saad Kidwai, CITDR
Section 80G

73,621/- under ‘Peripheral Development Expenses’ the amounts eligible for deduction u/s.80G ought to be allowed as deduction. 3. Disallowance of Interest on disputed Govt. duty (Electricity Duty and water charges — Rs.168,47,54,889/- a. That on the facts and in the circumstances the case, sustaining the addition/disallowance of Rs.168,47,54,889/- under 'Interest on Disputed Govt. duty

NATIONAL ALUMINIUM COMPANY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, appeal of the assessee i

ITA 211/CTK/2017[2013-14]Status: DisposedITAT Cuttack28 Jun 2018AY 2013-14

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.197/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) Asst.Cit, Corporate Circle- Vs. National Aluminium Company 1(2), Bhubaneswar Limited, Nalco Bhawan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita No.211/Ctk/2017 ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & Cross Objection No.10/Ctk/2017 (Arising Out Of Ita No.197/Ctk/2017) ("नधा"रण वष" / Assessment Year :2013-2014) National Aluminium Company Vs. Asst.Cit, Corporate Circle- Limited, 1(2), Bhubaneswar Nalco Bhavan, P/1, Nayapalli, Bhubaneswar "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacn 7449 M (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Shri B.K.Mahapatra,Ca राज"व क" ओर से /Revenue By : Shri Saad Kidwai, Citdr सुनवाई क" तार"ख / Date Of Hearing : 27/06/2018 घोषणा क" तार"ख/Date Of Pronouncement 29/06/2018 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objection By The Assessee, Against The Order Of The Cit(A)-1, Co No.10/Ctk/2018 Bhubaneswar, Passed In It Appeal No.0511/15-16, Dated 03.02.2017 For The Assessment Years 2013-2014. 2. Since Issues In Both The Appeals Are Common, They Were Heard

For Appellant: Shri B.K.Mahapatra,CAFor Respondent: Shri Saad Kidwai, CITDR
Section 80G

73,621/- under ‘Peripheral Development Expenses’ the amounts eligible for deduction u/s.80G ought to be allowed as deduction. 3. Disallowance of Interest on disputed Govt. duty (Electricity Duty and water charges — Rs.168,47,54,889/- a. That on the facts and in the circumstances the case, sustaining the addition/disallowance of Rs.168,47,54,889/- under 'Interest on Disputed Govt. duty

BISWAJIT NAYAK,ROURKELA, ODISHA vs. ACIT, ROURKELA CIRCLE, ROURKELA

In the result, appeal of the assessee is allowed

ITA 19/CTK/2024[2015-16]Status: HeardITAT Cuttack15 Apr 2024AY 2015-16

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.19/Ctk/2024 (ननधाारण वषा / Assessment Year : 2015-2016) Biswajit Nayak, Vs Acit, Rourkela Circle, Rourkela Qtr.No.B-174, Sector-1, Rourkela-769008 Pan No. :Aaqpn 2087 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri S.K.Sarangi, Ca राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 15/05/2024 घोषणा की तारीख/Date Of Pronouncement : 15/05/2024

For Appellant: Shri S.K.Sarangi, CAFor Respondent: Shri S.C.Mohanty, Sr. DR
Section 143(3)Section 271(1)(c)Section 274

depreciation” in para 5.0 where no satisfaction was recorded with regard to the initiation of penalty proceedings u/s.271(1)(c) of the Act. 5 Thus, it clearly evident from the assessment order that the AO was very much clear in his mind that the penalty proceedings u/s.271(1)(c) of the Act were initiated only for furnishing inaccurate particulars

BIKASH DEB,BHUBANESWAR vs. DCIT CIRCLE- 2(1), BHUBANESWAR

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

ITA 357/CTK/2019[2009-10]Status: DisposedITAT Cuttack17 Jan 2023AY 2009-10

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.357 & 388/Ctk/2019 /2019 Assessment Years : 2009-10 & 2010 10 & 2010-11 Bikash Dev Bikash Dev, Flat No.101, Vs. Dcit, Circle Dcit, Circle-2(1), Haraprity Haraprity Apar Apartment, Bhubaneswar. Bhubaneswar. Vivekananda Vivekananda Marg, Marg, Old Old Town, Bhubaneswar. Town, Bhubaneswar. Pan/Gir No. Pan/Gir No.Ahepd 0737 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri K.K.Bal, Adv K.K.Bal, Adv Revenue By : Shri M.K.Gautam, M.K.Gautam, Cit Dr Date Of Hearing : 17/01 01/2023 Date Of Pronouncement : 17/01 /01/2023 O R D E R

For Appellant: Shri K.K.Bal, AdvFor Respondent: Shri M.K.Gautam
Section 143(1)Section 147Section 148Section 149Section 21(5)

73 taxmann.com 185) - Hon'ble Delhi High Court in the case of AGR Investment Ltd. vs. Additional CIT (197 Taxman 177) - Hon'ble Kolkata High Court in the case of Brij Mohan Agarwal vs. ACIT (140 Taxman 317) iii.) The Hon'ble Karnataka High Court in the case of Prasanna V Ghotage vs. DCIT (79 tuo:rann.com 103) has held

BIKASH DEB,BHUBANESWAR vs. DCIT, CIRCLE-2(1), BHUBANESWAR

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

ITA 388/CTK/2019[2010-11]Status: DisposedITAT Cuttack17 Jan 2023AY 2010-11

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.357 & 388/Ctk/2019 /2019 Assessment Years : 2009-10 & 2010 10 & 2010-11 Bikash Dev Bikash Dev, Flat No.101, Vs. Dcit, Circle Dcit, Circle-2(1), Haraprity Haraprity Apar Apartment, Bhubaneswar. Bhubaneswar. Vivekananda Vivekananda Marg, Marg, Old Old Town, Bhubaneswar. Town, Bhubaneswar. Pan/Gir No. Pan/Gir No.Ahepd 0737 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri K.K.Bal, Adv K.K.Bal, Adv Revenue By : Shri M.K.Gautam, M.K.Gautam, Cit Dr Date Of Hearing : 17/01 01/2023 Date Of Pronouncement : 17/01 /01/2023 O R D E R

For Appellant: Shri K.K.Bal, AdvFor Respondent: Shri M.K.Gautam
Section 143(1)Section 147Section 148Section 149Section 21(5)

73 taxmann.com 185) - Hon'ble Delhi High Court in the case of AGR Investment Ltd. vs. Additional CIT (197 Taxman 177) - Hon'ble Kolkata High Court in the case of Brij Mohan Agarwal vs. ACIT (140 Taxman 317) iii.) The Hon'ble Karnataka High Court in the case of Prasanna V Ghotage vs. DCIT (79 tuo:rann.com 103) has held

DCIT, CORPORATE CIRCLE- 1(2), BHUBANESWAR vs. M/S. NATIONAL ALUMINIUM COMPANY LTD., BHUBANESWAR

In the result, all the appeals of the assessee and Revenue along

ITA 65/CTK/2020[2016-17]Status: DisposedITAT Cuttack27 Oct 2020AY 2016-17

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

section 14A read with Rule 8D and disallowed the expenditure as per formula provided under rule 8D. The assessee is stated to have made no fresh investments out of borrowed funds. The Assessing Officer appears to have calculated the disallowance as per Rule 8D(2)(iii) observing that administrative expenses cannot be denied to earn exempt income. We, however, find

NATIONAL ALUMINIUM COMPANY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all the appeals of the assessee and Revenue along

ITA 39/CTK/2019[2015-16]Status: DisposedITAT Cuttack27 Oct 2020AY 2015-16

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

section 14A read with Rule 8D and disallowed the expenditure as per formula provided under rule 8D. The assessee is stated to have made no fresh investments out of borrowed funds. The Assessing Officer appears to have calculated the disallowance as per Rule 8D(2)(iii) observing that administrative expenses cannot be denied to earn exempt income. We, however, find

ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. NATIONAL ALUMINIUM COMPANY LTD., BHUBANESWAR

In the result, all the appeals of the assessee and Revenue along

ITA 331/CTK/2017[2009-10]Status: DisposedITAT Cuttack27 Oct 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

section 14A read with Rule 8D and disallowed the expenditure as per formula provided under rule 8D. The assessee is stated to have made no fresh investments out of borrowed funds. The Assessing Officer appears to have calculated the disallowance as per Rule 8D(2)(iii) observing that administrative expenses cannot be denied to earn exempt income. We, however, find

NATIONAL ALUMINIUM COMPANY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE- 1(2), BHUBANESWAR

In the result, all the appeals of the assessee and Revenue along

ITA 1/CTK/2020[2016-17]Status: DisposedITAT Cuttack27 Oct 2020AY 2016-17

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

section 14A read with Rule 8D and disallowed the expenditure as per formula provided under rule 8D. The assessee is stated to have made no fresh investments out of borrowed funds. The Assessing Officer appears to have calculated the disallowance as per Rule 8D(2)(iii) observing that administrative expenses cannot be denied to earn exempt income. We, however, find

DCIT, CORPORATE CIRCLE-1(2), BHUBANESWAR vs. NATIONAL ALUMINIUM COMPANY LIMITED, BHUBANESWAR

In the result, all the appeals of the assessee and Revenue along

ITA 69/CTK/2019[2015-16]Status: DisposedITAT Cuttack27 Oct 2020AY 2015-16

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

section 14A read with Rule 8D and disallowed the expenditure as per formula provided under rule 8D. The assessee is stated to have made no fresh investments out of borrowed funds. The Assessing Officer appears to have calculated the disallowance as per Rule 8D(2)(iii) observing that administrative expenses cannot be denied to earn exempt income. We, however, find

NATIONAL ALUMINIUM COMPANY LIMITED,BHUBANESWAR vs. ACIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all the appeals of the assessee and Revenue along

ITA 338/CTK/2017[2009-10]Status: DisposedITAT Cuttack27 Oct 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.338/Ctk/2017 आयकर अऩीऱ सं./Ita No.39/Ctk/2019 आयकर अऩीऱ सं./Ita No.01/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Acit, Corporate Circle-1(2), Bhubaneswar Nalco Bhawan, P/1, Nayapalli, Bhubaneswar Pan No. : Aaacn 7449 M & आयकर अऩीऱ सं./Ita No.331/Ctk/2017 आयकर अऩीऱ सं./Ita No.69/Ctk/2019 आयकर अऩीऱ सं./Ita No.65/Ctk/2020 (नििाारण वषा / Assessment Years :2009-2010, 2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhawan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M & Cross Objection No.11/Ctk/2019 Cross Objection No.02/Ctk/2020 (Arising Out Of Ita Nos.69/Ctk/2019 & 65/Ctk/2020) (नििाारण वषा / Assessment Years :2015-2016 & 2016-2017) National Aluminium Company Limited, Vs. Dcit/Acit, Nalco Bhavan, P/1, Nayapalli, Corporate Circle-1(2), Bhubaneswar Bhubaneswar Pan No. : Aaacn 7449 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By Shri A.K.Sabat & B.K.Mahapatra, Cas : राजस्व की ओर से /Revenue By Shri M.K.Gautam, Cit Dr : सुनवाई की तारीख / Date Of Hearing : 06/10/2020 घोषणा की तारीख/Date Of Pronouncement : 28/10/2020 आदेश / O R D E R Per Bench : These Are The Cross Appeals Filed By The Assessee & Revenue & Cross Objections By The Assessee, Against The Separate Orders Of The Cit(A)-1, Bhubaneswar, Dated 30.12.2017, 27.12.2018 & 24.10.2019

section 14A read with Rule 8D and disallowed the expenditure as per formula provided under rule 8D. The assessee is stated to have made no fresh investments out of borrowed funds. The Assessing Officer appears to have calculated the disallowance as per Rule 8D(2)(iii) observing that administrative expenses cannot be denied to earn exempt income. We, however, find

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

In the result, appeal of the Revenue is dismissed and appeal of

ITA 379/CTK/2017[2009-10]Status: DisposedITAT Cuttack17 Feb 2020AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.379/Ctk/2017 (नििाारण वषा / Assessment Year : 2009 - 2010) Dcit, Corporate Circle-1(1), Vs. M/S Industrial Development Bhubaneswar Corporation Of Orissa Ltd., Idcol House, Ashok Nagar, Bhubaneswar स्थायी ऱेखा सं./Pan No. : Aaaci 4821 L & आयकर अपीऱ सं./Ita No.392/Ctk/2017 (नििाारण वषा / Assessment Year : 2009 - 2010) M/S Industrial Development Vs. Dcit, Corporate Circle-1(1), Corporation Of Orissa Ltd., Bhubaneswar Idcol House, Ashok Nagar, Bhubaneswar स्थायी ऱेखा सं./Pan No. : Aaaci 4821 L (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.C.Bhadra,Ca राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 29/01/2020 घोषणा की तारीख/Date Of Pronouncement : 17/02/2020 आदेश / O R D E R Per L.P.Sahu, Am : These Are The Cross Appeals Filed By The Revenue & Assessee, Arising Out Of The Order Dated 15.06.2017 Passed By The Cit(A)-3, Bhubaneswar, For The Assessment Year 2009-2010. 2. First We Shall Take Up The Appeal Of The Revenue In Ita

For Appellant: Shri S.C.Bhadra,CAFor Respondent: Shri M.K.Gautam, CIT-DR
Section 147Section 263

depreciation brought forward from earlier years of Rs.28,80,98,231/-, he assessed income of the year at Rs. 41,91,96,769/-, rounded off to Rs.41,91,96,770/-. Further the assessment was completed u/s.263/143(3) of the Act dated 30.07.2014 determining total income at Rs.94,73,96,770/-. Subsequently, the assessment u/s.147/251/143(3) of the Act was completed