GRAM VIKAS TRUST,BERHAMPUR vs. ITO, EXEMPTION WARD, BERAMPUR

In the result, both the appeals filed by the assessee for AYs 2014-

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

3. We will first take up the appeal in ITA No. 436/CTK/2024. Brief facts of the case are that the assessee filed the return of income which was processed u/s 143(1)(a) of the Act by the CPC in which the claim of exemption was denied. Aggrieved with the intimation, the assessee moved an application u/s 154

GRAM VIKAS TRUST,BERHAMPUR vs. ITO,EXEMPTION WARD, BERAMPUR

In the result, both the appeals filed by the assessee for AYs 2014-

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

3. We will first take up the appeal in ITA No. 436/CTK/2024. Brief facts of the case are that the assessee filed the return of income which was processed u/s 143(1)(a) of the Act by the CPC in which the claim of exemption was denied. Aggrieved with the intimation, the assessee moved an application u/s 154

MGM GREEN ENERGY LIMITED,BHUBANESWAR vs. DCIT,CIRCLE-1(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.370/Ctk/2019 (ननधाारण वषा / Assessment Year : 2014-2015) Mgm Green Energy Limited, Vs Jcit, Range Rourkela, Rourkela 5-A, Forest Park, Bhubaneswar Pan No. :Aahcm 8472 C (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Sh A.K.Sabat & Sh B.K.Mahapatra, Cas राजस्व की ओर से /Revenue By : Shri Sanjay Kumar, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 22/05/2024 घोषणा की तारीख/Date Of Pronouncement : 22/05/2024 आदेश / O R D E R Per Bench : This Appeal Is Filed By The Assessee Against The Order Of The Ld. Cit(A)-1. Bhubaneswar, Dated 11.06.2019, In I.T.Appeal No.0388/16-17 For The Assessment Year 2014-2015. 2. The Assessee Has Taken As Many As Six Grounds Of Appeal, Relating To Various Additions/Disallowances Made To The Income Declared By The Assessee & Also Against The Adjustments Made In The Book Profit U/S.115Jb Of The Act. The Grounds Raised By The Assessee Are As Under :- I) The Ld. Cit(A) Is Erred In Dismissing The Appeal Of The Assessee, Which Is Arbitrary, Erroneous & Bad, Both In The Eyes Of Law. Ii) Disallowance Of Interest Expenses U/S.36(Iii) Of The Act At Rs.1,65,18,400/-; Iii) Disallowance Of Expenses U/S.14A Of The Act/Rule 8D Of It Rules At Rs.2,44,82,488/-; Iv) Addition Of Disallowance Of Expenses U/S.14A At Rs.2,44,82,488/- In The Book Profit As Computed U/S 115Jb; V) Addition/Disallowance Of Expenses U/S.115Jb Of The Act Under The Book Profits; Vi) Disallowance Of Differential Depreciation Of Rs.1,16,63,697/-

3) The provisions of sub-section (2) shall also apply in relation to a case where an assessee claims that no expenditure has been incurred by him in relation to income which does not form part of the total income under this Act :] [Provided that nothing contained in this section shall empower the Assessing Officer either to reassess under section

S S BRAHMA EDUCATIONAL TRUST,MAYURBHANJ vs. PRINICIPAL COMMISSIONER OF INCOME TAX, PCIT, SAMBALPUR, SAMBALPUR

In the result, appeal of the assessee is allowed

154. The bench minutely analysed law in this regard and applying the principle of 'coram non judice' and following aforesaid judgments of the supreme court, it was held that if an assessee seeks to challenge the reassessment proceedings as being without jurisdiction, when action for rectification is sought to be taken on the assumption of the validity of the reassessment

KALINGA INSTITUTE OF INDUSTRIAL TECHNOLOGY,PATIA BHUNANESWAR vs. CIT(EXEMPTION), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.177/Ctk/2024 (ननधाारण वषा / Assessment Year : 2018-2019) Kalinga Institute Of Industrial Vs Cit (Exemption), Hyderabad Technology, Patia, Bhubaneswar Pan No. :Aaatk 3103 C (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) ननधााररती की ओर से /Assessee By : Shri S.K.Agrawalla, Ca राजस्व की ओर से /Revenue By : Shri Sanjay Kumar, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 15/07/2024 घोषणा की तारीख/Date Of Pronouncement : 15/07/2024

154 of the Act. In this view of the matter, the Commissioner had no jurisdiction to set aside that order which stood already rectified. In other words, the Commissioner could at best have invoked his suo motu powers under s. 263 of the Act as against the order dt. 14th March, 1989, passed

BHUVANA PROJECTS PRIVATE LIMITED,BHUBANESWAR vs. DY. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.105/Ctk/2024 (ननधाारण वषा / Assessment Year : 2015-2016) Bhuvana Projects Private Ltd. Vs Dcit, Corporate Circle, Flat No.908, Bhuvana Pride, Bhubaneswar Ranasinghpur, Odisha Pan No. :Aaecb 3452 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri P.R.Mohanty, Advocate राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 29/08/2024 घोषणा की तारीख/Date Of Pronouncement : 29/08/2024 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Dated 24.01.2024 Passed By The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, In Din & Order No.Itba/Nfac/S/250/2023- 24/1060081750(1) For The Assessment Year 2015-2016, On The Following Grounds Of Appeal :- 1. That The Impugned Appellate Order By The Commissioner Of Income Tax ( Appeals), National Faceless Appeal Centre, Income Tax Department, Govt. Of India Is Bad In Law & Without Application Of Mind. 2. That The Ld. Cit(A) Has Erred In Confirming The Order Of The Assessing Officer Assessing The Taxable Income Of The Assessee Based On Percentage Completion Method Without Considering The Consistent Method Of Actual Performance Adopted By The Assessee Since Its Inception Declaring The Income For The Year. The Application Of As 7 To Arrive At The Income Is Notional & Hypothetical In Nature Which Cannot Override The Books Of Accounts Maintained By The Assessee & Therefore, Assessing A High Pitch Income Against The Returned Loss Of The Assessee Is Not Tenable In The Eyes Of Legal Standing & Therefore, The Same Should Be Quashed & The Income

Section 145(3) of the Act, the AO recomputed the income of the assessee by applying percentage completion method and addition of Rs.1,56,35,310/- was made to the income declared by the assessee. 5. Before us, ld. AR of the assessee submitted that it is the third year of business where the assessee was carried out its construction