DCIT, BHUBANESWAR vs. M/S. G.V.V.CONSTRUCTIONS PVT. LTD., BHUBANESWAR

Appeal of the revenue are dismissed and the appeal of the revenue is dismissed

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.297/Ctk/2015 (धनधाारण वषा / Assessment Year :2010-2011) Dcit, Corporate Circle-1(1), Vs. M/S G.V.V. Constructions Bhubaneswar Pvt. Ltd., Plot No.358, Saheed Nagar, Bhubaneswar-751007 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aaccg 3649 Q (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) & Cross Objection No.36/Ctk/2015 (निर्धारण वर्ा / Assessment Year :2010-2011) M/S G.V.V.Constructions Vs. Dcit, Corporate Circle-1(1), Pvt. Ltd., Plot No.358, Bhubaneswar Saheed Nagar, Bhubaneswar-751007 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aaccg 3649 Q (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. राजस्व की ओर से /Revenue By : Shri D.K.Pradhan, Citdr धनधााररती की ओर से /Assessee By : None सुनवाई की तारीख / Date Of Hearing : 03/08/2017 घोषणा की तारीख/Date Of Pronouncement 09/08/2017 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Revenue Has Filed An Appeal & The Assessee Has Filed Cross Objection Against The Order Of Cit(A)-2, Bhubaneswar In I.T.Appeal No.0593/2013-14, Dated 9-3-2015, Passed U/S.271(1)(C) & 250 Of The Act. 2. None Appeared On Behalf Of The Assessee When The Matter Was Called For Hearing. Hence, We Proceed To Dispose Off The Appeal On The Basis Of Material Available On Record & The Submissions Of Ld. Dr. 3. We Take Up The Revenue’S Appeal In Ita No.297/Ctk/2015, Wherein The Revenue Has Raised The Following Grounds :-

127/- was not disclosed in the income computation and further the AO was not satisfied with the explanations that the interest income shall be offered on the maturity of deposits. But the ld. AO applied the provisions of Section 69A 3 & CO No.36/CTK/2015 of the Act and made addition. Because of the additions, the AO initiated penalty proceedings u/s.271

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR,ODISHA

In the result, all the four appeals of the assessee are allowed

127 (Bombay) held that as per provisions of Sec. 151(1) sanction of Commissioner or Principal Commissioner is a pre-requisite for issuance of a reopening notice under section 148 after expiry of four years from end of the relevant assessment year therefore the impugned notice issued with sanction of Addl. Commissioner and not Pr.CIT being legally invalid was liable

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR vs. INCOME TAX OFFICER,NFAC,DELHI, NFAC DELHI

In the result, all the four appeals of the assessee are allowed

127 (Bombay) held that as per provisions of Sec. 151(1) sanction of Commissioner or Principal Commissioner is a pre-requisite for issuance of a reopening notice under section 148 after expiry of four years from end of the relevant assessment year therefore the impugned notice issued with sanction of Addl. Commissioner and not Pr.CIT being legally invalid was liable

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR,ODISHA vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR

In the result, all the four appeals of the assessee are allowed

127 (Bombay) held that as per provisions of Sec. 151(1) sanction of Commissioner or Principal Commissioner is a pre-requisite for issuance of a reopening notice under section 148 after expiry of four years from end of the relevant assessment year therefore the impugned notice issued with sanction of Addl. Commissioner and not Pr.CIT being legally invalid was liable

SAI SIMRAN INFRATECH PRIVATE LIMITED,BHUBANESWAR,ODISHA vs. INCOME TAX OFFICER,WARD-1(1), BHUBANESWAR

In the result, all the four appeals of the assessee are allowed

127 (Bombay) held that as per provisions of Sec. 151(1) sanction of Commissioner or Principal Commissioner is a pre-requisite for issuance of a reopening notice under section 148 after expiry of four years from end of the relevant assessment year therefore the impugned notice issued with sanction of Addl. Commissioner and not Pr.CIT being legally invalid was liable