SYLVESA INFOTECH PRIVATE LIMITED,BHUBANESWAR vs. ITO WARD -1(1), BHUBANESWAR

56 &\n57 containing the invoices of the said parties, requesting attention\nto pg no 128 & 129 containing the ledger of the same party,\nconfirming the transactions through sales entry and its realisation.\nb. Requesting the attention of my lord to Pg No 43 again Sl No 16-\nDistrict Land Record Survey-Balasore, req attn to page

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

penalty proceedings under section 271(1)(c) for the assessment year 2006- 07 is also set aside and quashed. The application being G. A. No. 81 of 2010 is also allowed. 11. No order as to costs. [Copy Enclosed CLPB-2.Pg.Nos. P a g e 47 | 63 ITA No.65/CTK /2023 Assessment Year : 2011-12 (H').TIME LIMIT SPECIFIED U/S.124

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

56,94,020 is liable to be deleted. 4. That, the Ld. Commissioner of Income Tax (Appeals) is wrong in confirming the additions of cash deposits of Rs.11,50,000 as unexplained money u/s 69A of the Act as these cash deposits are from the earlier withdrawals and therefore the additions on 11,50,000 is liable to be deleted

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

56,94,020 is liable to be deleted. 4. That, the Ld. Commissioner of Income Tax (Appeals) is wrong in confirming the additions of cash deposits of Rs.11,50,000 as unexplained money u/s 69A of the Act as these cash deposits are from the earlier withdrawals and therefore the additions on 11,50,000 is liable to be deleted

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

56,94,020 is liable to be deleted. 4. That, the Ld. Commissioner of Income Tax (Appeals) is wrong in confirming the additions of cash deposits of Rs.11,50,000 as unexplained money u/s 69A of the Act as these cash deposits are from the earlier withdrawals and therefore the additions on 11,50,000 is liable to be deleted

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

56,94,020 is liable to be deleted. 4. That, the Ld. Commissioner of Income Tax (Appeals) is wrong in confirming the additions of cash deposits of Rs.11,50,000 as unexplained money u/s 69A of the Act as these cash deposits are from the earlier withdrawals and therefore the additions on 11,50,000 is liable to be deleted