MAMATA PATRA,BHUBANESWAR vs. JCIT, RANGE-5, BHUBANESWAR

In the result, appeal of the assessee is allowed

Section 269SS of the Act. Ld. AR’s contention that the assessee has not evaded any tax and Sachidananda Nayak and 4 Dambarudhar Nayak, from whom the assessee has accepted the cash loans, have disclosed the transaction in their accounts. The ld. AR further emphasized that the statements were recorded from the persons in respect of cash loan of Rs.7.5

M/S. NARESH PHARMACEUTICAL AGENCIES,CUTTACK vs. PRINCIPAL CIT, CUTTACK

In the result, the appeal filed by the assessee is allowed

Bench: S/Shri N.S Saini & Kuldip Singhassessment Year : 2011-12

section 145(3) of the I. Tax Act, 1961. Asse ssment Year : 20 11- 12 The Learned Assessing Officer after application of mind judiciously as per Law had been pleased to pass an order U/S.143(3) of the I.T.Act, 1961 which can never in a stretch of Imagination be considered as erroneous and/or prejudicial to the interest of Revenue