M/S. PRAGATI MILK PRODUCT PVT. LTD.,CUTTACK vs. ACIT, CENTRAL CIRCLE, CUTTACK

In the result, all the three appeals of the assessee for respective assessment years under consideration are allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अऩीऱ सं/Ita Nos.143 To 145/Ctk/2022 (ननधाारण वषा / Assessment Year : 2012-2013 To 2014-2015) M/S Pragati Milk Products(P) Ltd. Vs Acit, Central Circle, Cuttack Plot No.71/A/1, New Industrial Estate, Jagatpur, Cuttack-754021 Pan No. :Aaecp 6353 J (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri P.R.Mohanty, Advocate राजस्व की ओर से /Revenue By : Shri Dr. Abani Kanta Nayak, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 11/10/2023 घोषणा की तारीख/Date Of Pronouncement : 11/10/2023 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Order Of The Ld. Cit(A)-2, Bhubaneswar, Dated 12.10.2018, Passed In I.T.Appeal No.0487/2017-18 For The Assessment Year 2012-2013. 2. It Was Submitted By The Ld. Ar That The Facts In All The Cases Are Identical. It Was The Submission That There Was Search In The Premises Of The Assessee. As A Consequence Of Search, Assessment Came To Be Completed U/S.153A Of The Act. In The Assessment U/S.153A Of The Act, The Assessee Had Been Granted The Benefit Of Deduction U/S.80Ib(11A) Of The Act. It Was The Submission That The Said Assessment Order Was The Subject Matter Of Rectification Application On Multiple Occasions & In The Third Round Of Rectification Application The Ao Has Withdrawn The Benefit Of Deduction U/S.80Ib (11A) Of The Act. It Was The Submission That The 2

3 of the appellate order which may kindly be perused. The sales of Rs.1.90 crores do not justify the facade of a trial run. Hence the A.O. was justified in withdrawing claim of deduction u/s.80IB(11A) of the Act. 5. Reliance is placed on the decision of Hon'ble Punjab & Haryana High Court in the case of CIT vs. Steel

M/S. PRAGATI MILK PRODUCT PVT. LTD.,CUTTACK vs. ACIT, CENTRAL CIRCLE, CUTTACK

In the result, all the three appeals of the assessee for respective assessment years under consideration are allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अऩीऱ सं/Ita Nos.143 To 145/Ctk/2022 (ननधाारण वषा / Assessment Year : 2012-2013 To 2014-2015) M/S Pragati Milk Products(P) Ltd. Vs Acit, Central Circle, Cuttack Plot No.71/A/1, New Industrial Estate, Jagatpur, Cuttack-754021 Pan No. :Aaecp 6353 J (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri P.R.Mohanty, Advocate राजस्व की ओर से /Revenue By : Shri Dr. Abani Kanta Nayak, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 11/10/2023 घोषणा की तारीख/Date Of Pronouncement : 11/10/2023 आदेश / O R D E R Per Bench : These Are The Appeals Filed By The Assessee Against The Order Of The Ld. Cit(A)-2, Bhubaneswar, Dated 12.10.2018, Passed In I.T.Appeal No.0487/2017-18 For The Assessment Year 2012-2013. 2. It Was Submitted By The Ld. Ar That The Facts In All The Cases Are Identical. It Was The Submission That There Was Search In The Premises Of The Assessee. As A Consequence Of Search, Assessment Came To Be Completed U/S.153A Of The Act. In The Assessment U/S.153A Of The Act, The Assessee Had Been Granted The Benefit Of Deduction U/S.80Ib(11A) Of The Act. It Was The Submission That The Said Assessment Order Was The Subject Matter Of Rectification Application On Multiple Occasions & In The Third Round Of Rectification Application The Ao Has Withdrawn The Benefit Of Deduction U/S.80Ib (11A) Of The Act. It Was The Submission That The 2

3 of the appellate order which may kindly be perused. The sales of Rs.1.90 crores do not justify the facade of a trial run. Hence the A.O. was justified in withdrawing claim of deduction u/s.80IB(11A) of the Act. 5. Reliance is placed on the decision of Hon'ble Punjab & Haryana High Court in the case of CIT vs. Steel

M/S. ALTRADE MINERALS PVT. LIMITED,ROURKELA vs. ACIT,CENTRAL CIRCLE, SAMBALPUR, SAMBALPUR

In the result, appeal of the assessee is partly allowed

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2011-12 M/S. Altrade Minerals Pvt /S. Altrade Minerals Pvt Vs. Asst. Asst. Commissioner Commissioner Of Of Ltd., C/O. Kadmawala & Co., C/O. Kadmawala & Co., Income Tax, Central Circle, Income Tax, Central Circle, C.A., C.A., Budhram Budhram Oram Oram Sambalpur Market, Market, Kachery Kachery Road, Road, Rourkela. Pan/Gir No. No.Aafca 7136 F (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024

disallowance of Rs. 47,61,689/- made u/s. 14A r.w.r 80 being expenses incurred for earning exempt dividend income without appreciating the fact that assessee's own interest free funds was exceeding the investment made for earning exempted income and in similar facts disallowances made in the assessment orders for the A.Y's. 2012-13 & 2013-14 was deleted

GRAM VIKAS TRUST,BERHAMPUR vs. ITO, EXEMPTION WARD, BERAMPUR

In the result, both the appeals filed by the assessee for AYs 2014-

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

disallowances. Ground No. 3: Rejection of the claim under section 11(2), without notice to appellant, is incorrect and the same is against judicial decisions. Nagpur Hotel Owners’ Association 247 ITR 201 (SC). I.T.A. Nos.: 436 & 437/CTK/2024 Assessment Years: 2014-15 & 2015-16 Gram Vikas Trust. Ground No. 4: The AO erred in levying interest under section 234B

GRAM VIKAS TRUST,BERHAMPUR vs. ITO,EXEMPTION WARD, BERAMPUR

In the result, both the appeals filed by the assessee for AYs 2014-

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

disallowances. Ground No. 3: Rejection of the claim under section 11(2), without notice to appellant, is incorrect and the same is against judicial decisions. Nagpur Hotel Owners’ Association 247 ITR 201 (SC). I.T.A. Nos.: 436 & 437/CTK/2024 Assessment Years: 2014-15 & 2015-16 Gram Vikas Trust. Ground No. 4: The AO erred in levying interest under section 234B

DEPUTY COMMISSIONER OF INCOME TAX, CENTAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

50,44,050/-.\nThe case of the assessee was selected for scrutiny under Computer\nAssisted Scrutiny Selection (CASS) scheme and notice u/s 143(2) was\nissued. The Id. AO framed the assessee vide order dated 28.03.2016,\ndetermining the total income at ₹126,46,86,020/-, which was reduced\nby the Id. CIT (A) to ₹118,28,11,470/-. Subsequently

M G MOHANTY,BHUBANESWAR vs. DCIT, CIRCLE-2(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अपील संसंसंसं/Ita No.402/Ctk/2024 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / Assessment Years : 2008-2009) वष" M G Mohanty, Vs Dcit, Circle-2(1), Bhubaneswar 5A, Forest Park, Odisha Pan No. :Aaffm 2127 H (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ" ""यथ" ""यथ" / Respondent) ""यथ" .. िनधा"रती क" िनधा"रती क" ओर ओर सेसेसेसे /Assessee By िनधा"रती िनधा"रती क" क" ओर ओर : Sh B.K.Mahapatra & Sh. A.K.Sabat, Cas राज"व राज"व क" राज"व राज"व क" क" ओर क" ओर ओर सेसेसेसे /Revenue By ओर : Dr. Abani Kanta Nayak, Cit-Dr सुनवाई क" तारीख / Date Of Hearing : 26/11/2024 घोषणा क" तारीख/Date Of Pronouncement : 26/11/2024 आदेश आदेश / O R D E R आदेश आदेश Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 01.08.2024, Passed In Appeal No.Cit(A), Bhubaneswar-1/10098/2016-17 Vide Din & Order No.Itba/Nfac/S/250/2024-25/1067224134(1) For The Assessment Year 2017-2018. 2. The Assessee Has Challenged The Appellate Order On The Following Grounds Of Appeal :- 1. That On The Facts & In The Circumstances Of The Case, The Order Of The Learned Commissioner Of Income Tax (Appeals), Nfac [In Short "Cit (Appeals)") Dated 01.08.2024 U/S 250 Of The Income Tax Act. 1961 [In Short "I.T.Act/ "Act] In Dismissing The Appeal Is Against The Principles Of Natural Justice, Contrary To Facts, Unjustified, Arbitrary, Erroneous, Bad, Both In The Eye Of Law & On Facts & Legally Untenable.

50,526/-. Again based on the report of Hon’ble Justice MB Shah Commission on mining in the state of Odisha, proceedings u/s.147 of the Act were initiated by issue of notice u/s.148 of the Act on 21.10.2014 and consequently the impugned order was passed u/s.143(3) r.w.s. 147 of the Act dated 28.03.2016 at a total income of Rs.30

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

50,44,050/-.\nThe case of the assessee was selected for scrutiny under Computer\nAssisted Scrutiny Selection (CASS) scheme and notice u/s 143(2) was\nissued. The Id. AO framed the assessee vide order dated 28.03.2016,\ndetermining the total income at ₹126,46,86,020/-, which was reduced\nby the Id. CIT (A) to ₹118,28,11,470/-. Subsequently

DEPUTY COMMISSIONER OF INCOME TAX, CENTAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

50,44,050/-.\nThe case of the assessee was selected for scrutiny under Computer\nAssisted Scrutiny Selection (CASS) scheme and notice u/s 143(2) was\nissued. The Id. AO framed the assessee vide order dated 28.03.2016,\ndetermining the total income at ₹126,46,86,020/-, which was reduced\nby the Id. CIT (A) to ₹118,28,11,470/-. Subsequently

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

50,44,050/-.\nThe case of the assessee was selected for scrutiny under Computer\nAssisted Scrutiny Selection (CASS) scheme and notice u/s 143(2) was\nissued. The Id. AO framed the assessee vide order dated 28.03.2016,\ndetermining the total income at ₹126,46,86,020/-, which was reduced\nby the Id. CIT (A) to ₹118,28,11,470/-. Subsequently

NATIONAL ALUMINIUM COMPANY LIMITED,BHUBANESWAR vs. PRINCIPAL CIT-1, BHUBANESWAR

In the result, appeal of the assessee stands allowed

Bench: Before S/Shri George Mathan, Judicial & Girish Agrawalassessment Year : 2016-17 National National Aluminium Aluminium Vs. Dcit, Circle Dcit, Circle -1(2), Company Limited., Nalco Company Limited., Nalco Bhubaneswar Bhubaneswar Bhawan, Bhawan, Nayapalli, Nayapalli, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aaacn 7449 M (Appellant) ) .. ( Respondent Respondent) Assessee By Assessee By : Shri Ved Jain, Ca & Shri P. Venugopal Rao, Ca Venugopal Rao, Ca Revenue By : Dr.Abani Kanta Nayak, Abani Kanta Nayak, Cit Dr Date Of Hearing : 30/11 11/2023 Date Of Pronouncement : 30/11 /11/2023 O R D E R Per Bench

50,84,635 Sum offered for disallowance : 20,92,64,656 Sum offered for disallowance excess : 1,41,80,021 It was the submission that in respect of issue of 43B, the issue has already been considered by the Assessing Officer and detailed reply had also been filed. It was the submission that the difference which is being claimed

BIPIN BIHARI MOHANTY,BHUBANESWAR vs. ACIT CIRCLE -5(1), BHUBANESWAR

In the result, both the appeals of the assessee are partly allowed

Section 145(3) of the Act and has rejected the books. The Hon’ble Kolkata High Court in the case of Dabros Industrial Co. (P.) Ltd., reported in [1977] 108 ITR 424 (Cal.) has, following the decision of the Hon’ble Supreme Court in the case of S.N.Namasivayam Chettiar, reported in [1960] 38 ITR 579(SC), categorically held that once

BIPIN BIHARI MOHANTY,BHUBANESWAR vs. ACIT CIRCLE -5(1), BHUBANESWAR

In the result, both the appeals of the assessee are partly allowed

Section 145(3) of the Act and has rejected the books. The Hon’ble Kolkata High Court in the case of Dabros Industrial Co. (P.) Ltd., reported in [1977] 108 ITR 424 (Cal.) has, following the decision of the Hon’ble Supreme Court in the case of S.N.Namasivayam Chettiar, reported in [1960] 38 ITR 579(SC), categorically held that once

KALPANA MISHRA,BHUBANESWAR vs. ITO, WARD 5(4), BHUBANESWAR, 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-

disallowance of deduction under section 54B and initiated proceedings for 'complete scrutiny' without necessary receipt of approval from Pr. Commissioner for conversion of 'limited scrutiny' to 'complete scrutiny', assumption of jurisdiction by Assessing Officer was invalid and, consequently, the addition made by Assessing Officer was to be deleted. Cases relied on / referred to: a) CBS International Projects

KAMYAB TELEVISION(P) LIMITED,BHUBANESWAR vs. DCIT, CORPORATE CIRCLE-1(1), BHUBANESWAR

In the result, appeals of the assessee stand partly allowed for statistical purposes

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalita Nos.536 & 537/Ctk/2024 Assessment Years : 2013-14 & 2017-18 Assessment Year 18 Kamyab Television Pvt. Ltd., Plot Kamyab Television Pvt. Ltd., Plot Vs. Dcit, Corporate Circle-1(1), Dcit, Corporate Circle No.159, Alaka Unit No.159, Alaka Unit-Ii, Ashok Bhubaneswar Nagar, Bhubaneswar Nagar, Bhubaneswar Pan/Gir No Aaecm 3608 B Aaecm 3608 B (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty, Adv , Adv Revenue By : Shri : Shri Saroj Kumar Dubey, Cit Dr & S.C.Mohanty, Sr Dr S.C.Mohanty, Sr Dr Date Of Hearing : 31/12/20 2024 Date Of Pronouncement : 31/12/20 024

disallowance to 50% of the total claim made by the assessee in respect of provision of section 115JB of the Act and the addition under the head “other expenses”, the total claim was rejected. It was the submission of ld AR that the assessee can produce all the bills and vouchers if one more opportunity is granted

KAMYAB TELEVISION (P) LIMITED,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, appeals of the assessee stand partly allowed for statistical purposes

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalita Nos.536 & 537/Ctk/2024 Assessment Years : 2013-14 & 2017-18 Assessment Year 18 Kamyab Television Pvt. Ltd., Plot Kamyab Television Pvt. Ltd., Plot Vs. Dcit, Corporate Circle-1(1), Dcit, Corporate Circle No.159, Alaka Unit No.159, Alaka Unit-Ii, Ashok Bhubaneswar Nagar, Bhubaneswar Nagar, Bhubaneswar Pan/Gir No Aaecm 3608 B Aaecm 3608 B (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri P.R.Mohanty, Adv , Adv Revenue By : Shri : Shri Saroj Kumar Dubey, Cit Dr & S.C.Mohanty, Sr Dr S.C.Mohanty, Sr Dr Date Of Hearing : 31/12/20 2024 Date Of Pronouncement : 31/12/20 024

disallowance to 50% of the total claim made by the assessee in respect of provision of section 115JB of the Act and the addition under the head “other expenses”, the total claim was rejected. It was the submission of ld AR that the assessee can produce all the bills and vouchers if one more opportunity is granted

ACIT, , SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, appeal of the revenue is dismissed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.219/Ctk/2023 (ननधाारण वषा / Assessment Year : 2019-2020) Acit, Sambalpur Vs Smt. Indrani Patnaik, A-6, Comercial Estate, Civil Township, Rourkela Pan No. :Accpp 6164 E (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) राजस्व की ओर से /Revenue By : Shri Sanjay Kumar, Cit-Dr ननधााररती की ओर से /Assessee By : Shri S.C.Bhadra, Ca सुनवाई की तारीख / Date Of Hearing : 06/08/2024 घोषणा की तारीख/Date Of Pronouncement : 06/08/2024 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A)-2, Bhubaneswar, Dated 29.03.2023, Passed In I.T.Appeal No.Bhubaneswar-2/10625/2018-19 For The Assessment Year 2019-2020, On The Following Grounds Of Appeal :- 1. The Cit(A) Erred In Deleting The Addition Made Towards Peripheral Development Charges Of Rs. 49,49,231/- As Such Expenditure Is Not Allowable As Per The Provisions Of Section 37 Of The Act. 2. The Cit(A) Erred In Deleting The Addition Of Rs. 10,69,56,849/- U/S 14A As The Assessee Has Exempt Income During The Year. 3. The Cit(A) Was Not Correct In Deleting The Addition U/S 14A Holding That Satisfaction Is Not Recorded By The Ao, When The Assessee Has Not Suomoto Disallowed Any Expenditure Related To Earning Exempt Income As Decided By The Hon'Ble Supreme Court In The Case Of Maxopp Investment Ltd Dtd 12.02.2018. 4. The Cit(A) Was Not Correct In Deleting The Addition U/S 14A, When The Ao Has Given A Finding In The Assessment Order That The Assessee Has Shown Investment That Yielded Tax Free

section 37 of the Act. 2. The CIT(A) erred in deleting the addition of Rs. 10,69,56,849/- u/s 14A as the assessee has exempt income during the year. 3. The CIT(A) was not correct in deleting the addition u/s 14A holding that satisfaction is not recorded by the AO, when the assessee has not suomoto disallowed

DEPUTY COMMISSIONER OF INCOME TAX, ODISHA vs. ODISHA STATE BEVERAGES CORPORATION LIMITED, ODISHA

In the result, appeal of the revenue stands dismissed

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2020-2021 2021 Dcit, Aayakar Bhavan, Main Dcit, Aayakar Bhavan, Main Vs. Odisha Odisha State State Beverages Beverages 2Nd Building, Building, Rajaswas Rajaswas Vihar, Vihar, Corporation Corporation Limited., Limited., 2 Vani Vihar, Bhubaneswar. Vani Vihar, Bhubaneswar. Floor, Floor, Fortune Fortune Towers, Towers, S.E.Rly S.E.Rly Proj. Proj. Complex, Complex, Bhubaneswar. Bhubaneswar. Pan/Gir No Pan/Gir No. (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Satyajit Mishra, Ca Satyajit Mishra, Ca Revenue By : Shri Sanjay Kumar, Cit : Shri Sanjay Kumar, Cit Dr Date Of Hearing : 11/0 06/2024 Date Of Pronouncement : 11/0 /06/2024 O R D E R Per Bench This Is An Appeal Filed By The Revenue Against The Order Of The Ld Against The Order Of The Ld Cit(A), Nfac, Delhi Dated Cit(A), Nfac, Delhi Dated 21.9.2023 Deleting The Penalty Levied U/S.270A Of 21.9.2023 Deleting The Penalty Levied U/S.270A Of The Act For The Assessment Year For The Assessment Year 2020-2021. 2. Brief Facts Of The Case Are That The Assessment In This Case Was Brief Facts Of The Case Are That The Assessment In This Case Was Brief Facts Of The Case Are That The Assessment In This Case Was Passed U/S.143(3) Of The Act On 23.9.2 Passed U/S.143(3) Of The Act On 23.9.2022 By Disallowing A Sum Of 022 By Disallowing A Sum Of Rs.3,00,00,000/ Rs.3,00,00,000/- Out Of Expenses Claimed By The Assessee On Account Of Out Of Expenses Claimed By The Assessee On Account Of License Fees U/S.40(A)(Iib) Of The Act. Simultaneously, Penalty Proceedings License Fees U/S.40(A)(Iib) Of The Act. Simultaneously, Penalty Proceedings License Fees U/S.40(A)(Iib) Of The Act. Simultaneously, Penalty Proceedings

disallowance in order to buy peace of mind. It is submitted that the issue of allowance of license fees is highly debatable and the matter has since now settled by the Hon’ble Supreme Court in the case of Kerala State Beverages Manufacturing and Marketing Corporation Ltd(supra), it cannot be said that the claim of the assessee was malafide

M/S. SHREE BALAJI ENGICONS PVT. LTD.,BELPAHAR, JHARSUGUDA vs. DCIT, CENTRAL CIRCLE-1(1), SAMBALPUR, SAMBALPUR

In the result, appeals of the assesee in IT(SS)A No

Bench: Shri George Mathan & Shri Manish Agarwalit(Ss)A No.77/Ctk/2023

disallowance of claim of deduction of Rs. 47,15,405/- under section 801AB of the Income Tax Act, 1961 without properly appreciating the facts of the case and submission made before him. 4. The appellant reserves the right to add, alter and modify the grounds of appeal as taken by it. 3. The revenue in its appeal for A.Y.2011-2012