DY.CIT, CORPORATE CIRCLE-2(1), BHUBANESWAR vs. M/S. ORISSA MINING CORPORATION PVT. LIMITED, BHUBANESWAR
In the result, appeal filed by the revenue is dismissed
ITA 352/CTK/2019[2016-17]Status: DisposedITAT Cuttack21 Jun 2022AY 2016-17
Bench: Shri George Mathan & Shri Arun Khodpiadcit, Circle-2(1), Bhubaneswar ………………Revenue Versus M/S Orissa Mining Corporation Ltd., Omc House, Post Box No.34, Bhubaneswar-01 Pan No.Aaaco 3324 L …………….. Assessee Shri Siddharth Ranjan, Ca For The Assessee Shri M.K.Gautam, Cit-Dr For The Revenue Date Of Hearing : 21/06/2022 Date Of Pronouncement : 21/06/2022 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A)-1, Bhubaneswar, Dated 16.08.2019 Passed In I.T.Appeal No.0472/17-18 For The Assessment Year 2016-2017. 2. There Are Two Issues Raised In This Appeal By The Revenue. It Was Submitted By The Ld. Cit-Dr That Grounds No.2 & 3 Are Against The Action Of The Ld. Cit(A) In Deleting The Addition Made On Account Of Net Present Value(Npv) Paid Towards Acquisition Of Forest Land & Compensatory Afforestation. It Was The Submission That The Assessee Had Treated The Same As Revenue Expenditure. The Ao Held That The Expenditure Are Liable
disallowance insofar as the enduring benefit was to future generation and not to the assessee in view of the fact that the assessee was required to make this payment was compensatory for having rendered income from original source was revenue in nature
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and was rightly claimed and considered by the learned CIT(A). In this view of the matter
