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

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अऩीऱ सं./Ita No.66/Ctk/2015 (नििाारण वषा / Assessment Year :2008-2009) M/S Jaganath Chaudhury, 98, Vs. Dcit, Circle-1(1), Kharavela Nagar, Bhubaneswar-751007 Bhubaneswar-751001 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aadfj 8103 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri B.K.Mahapatra, Ar राजस्व की ओर से /Revenue By : Shri D.K.Pradhan, Dr सुनवाई की तारीख / Date Of Hearing : 27/06/2017 घोषणा की तारीख/Date Of Pronouncement 28/06/2017 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Assessee Has Filed This Appeal Against The Order Of Cit(A), Bhubaneswar, Dated 5.11.2014 In I.T.Appeal No.0013/13-14, Passed U/S.147/144 Of The Act. The Assessee Has Raised Three Substantial Grounds I.E. (I) Challenging The Validity Of Reopening Of Assessment U/S.147; (Ii) Ld. Cit(A) Has Erred In Confirming The Addition On Interest Income Of Rs.36,56,283/- & (Iii) Ld. Cit(A) Erred In Accepting The Miscellaneous Income Of Rs.5,95,992/- Pertains To Cessation Of Loan Creditors. 2. At The Time Of Hearing, Ld. Ar Has Not Pressed Ground No.1 Regarding Reopening Of Assessment & Made Endorsement To The Grounds Of Appeal.

business of execution of contract works of Govt. Departments/undertakings/agencies, filed its return of income of Rs.1,55,53,920/- and the original assessment u/s.143(3) was completed on 31.12.2010 with total income of Rs.2,04,63,138/-. The AO found that there is income escaping assessment in respect of interest income and miscellaneous income and issued notice u/s.148. Since there