T R CHEMICALS LIMITED,ODISHA vs. PCIT SAMBALPUR, ODISHA

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.219/Ctk/2025 (िनधा"रण वष" / Assessment Year : 2018-2019) T R Chemicals Limited, Vs Pr.Cit, Sambalpur Main Road, Subash Chowk, Rajgangpur, Odisha-770017 Pan No. :Aabct 1919 M (अपीलाथ" /Appellant) .. (""थ" / Respondent) िनधा"रती की ओर से /Assessee By : Shri K.K.Bajoria & Shri Yogesh Banka, Ars राज" की ओर से /Revenue By : Shri Vijay Singh, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 01/12/2025 घोषणा की तारीख/Date Of Pronouncement : 01/12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Passed By The Ld. Pr.Cit, Sambalpur, Dated 15.01.2025 For The Assessment Year 2018-2019. 2. It Was Submitted By The Ld. Ar That The Return Filed By The Assessee Came To Be Processed & The Assessment Came To Be Completed U/S.147 Of The Act Wherein The Purchases From M/S Mideast Integrated Steel Ltd. Were Disallowed By Invoking The Provisions Of Section 37(1) Of The Act. It Was The Submission That The Ld. Pr.Cit Invoked His Power U/S.263 Of The Act On The Ground That The Disallowances Made By The Ao U/S.37(1) Of The Act Instead Of Section 69C Of The Act, Is Erroneous & Prejudicial To The Interest Of Revenue. It Was Submitted That The Issue Is Now Squarely Covered By The Decision Of The Coordinate Bench Of The Tribunal In The Case Of Bajrang Steel & Alloys (P) Ltd., Passed In Ita No.553/Ctk/2024, Order Dated