BIBHUDUTTA PANDA,BHUBANESWAR vs. ASST.CIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all appeals of the assessee stand allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.76 To 81/Ctk/2022 (ननधाारण वषा / Assessment Years :2007-2008 To 2012-2013) Bibhudutta Panda, Vs Acit, Corporate Circle-1(2), Plot No.73 & 74, Jayadev Vihar, Bhubaneswar Bhubaneswar-751013 Pan No. :Adapp 6398 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

BIBHUDUTTA PANDA,BHUBANESWAR vs. ASST.CIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all appeals of the assessee stand allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.76 To 81/Ctk/2022 (ननधाारण वषा / Assessment Years :2007-2008 To 2012-2013) Bibhudutta Panda, Vs Acit, Corporate Circle-1(2), Plot No.73 & 74, Jayadev Vihar, Bhubaneswar Bhubaneswar-751013 Pan No. :Adapp 6398 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

BIBHUDUTTA PANDA,BHUBANESWAR vs. ASST.CIT, CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all appeals of the assessee stand allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.76 To 81/Ctk/2022 (ननधाारण वषा / Assessment Years :2007-2008 To 2012-2013) Bibhudutta Panda, Vs Acit, Corporate Circle-1(2), Plot No.73 & 74, Jayadev Vihar, Bhubaneswar Bhubaneswar-751013 Pan No. :Adapp 6398 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

BIBHUDUTTA PANDA,BHUBANESWAR vs. ASST.CIT ,CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all appeals of the assessee stand allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.76 To 81/Ctk/2022 (ननधाारण वषा / Assessment Years :2007-2008 To 2012-2013) Bibhudutta Panda, Vs Acit, Corporate Circle-1(2), Plot No.73 & 74, Jayadev Vihar, Bhubaneswar Bhubaneswar-751013 Pan No. :Adapp 6398 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

BIBHUDUTTA PANDA,BHUBANESWAR vs. ASST.CIT CORPORATE CIRCLE-1(2), BHUBANESWAR

In the result, all appeals of the assessee stand allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.76 To 81/Ctk/2022 (ननधाारण वषा / Assessment Years :2007-2008 To 2012-2013) Bibhudutta Panda, Vs Acit, Corporate Circle-1(2), Plot No.73 & 74, Jayadev Vihar, Bhubaneswar Bhubaneswar-751013 Pan No. :Adapp 6398 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

BIBHUDUTTA PANDA,BHUBANESWAR vs. ASST.CIT, CORPORATE CIRCLE 1(2), BHUBANESWAR

In the result, all appeals of the assessee stand allowed

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita Nos.76 To 81/Ctk/2022 (ननधाारण वषा / Assessment Years :2007-2008 To 2012-2013) Bibhudutta Panda, Vs Acit, Corporate Circle-1(2), Plot No.73 & 74, Jayadev Vihar, Bhubaneswar Bhubaneswar-751013 Pan No. :Adapp 6398 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record

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

31,50,550/- and the amount accumulated u/s 11(1)(a) of the Act was ₹ 7,34,731/- while the amount set apart u/s 11(2) of the Act was ₹ 10,45,000/-. The return of income was filed on 26.09.2014 along with Form No. 10B, but Form No. 10 was not uploaded on the same day. This omission

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

31,50,550/- and the amount accumulated u/s 11(1)(a) of the Act was ₹ 7,34,731/- while the amount set apart u/s 11(2) of the Act was ₹ 10,45,000/-. The return of income was filed on 26.09.2014 along with Form No. 10B, but Form No. 10 was not uploaded on the same day. This omission

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/-

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001.] [Explanation.—For the removal of doubts, it is hereby clarified that notwithstanding anything to the contrary contained

SHREE PRASAD JEWELLERS,ROURKELA vs. INCOME TAX OFFICER, WARD-1, ROURKELA

In the result, appeal of the assessee is allowed

Bench: Shri George Mathan & Shri Rajesh Kumarआयकर अपील सं/Ita No.177/Ctk/2025 (नििाारण वर्ा / Assessment Year : 2017-2018) Shree Prasad Jewellers, Vs Ito, Ward-1, Rourkela Sai Bihar, Sundargarh-770001 Pan No. :Abgfs 9081 E (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) .. नििााररती की ओर से /Assessee By : Shri S.K.Agarwalla, Ar राजस्व की ओर से /Revenue By : Shri Vijay Singh, Sr.Dr सुनवाई की तारीख / Date Of Hearing : 02/12/2025 घोषणा की तारीख/Date Of Pronouncement : 02/12/2025 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Passed By The Ld. Cit(A), National Faceless Appeal Centre (Nfac), Delhi, Dated 18.09.2025 For The Assessment Year 2013-2014. 2. At The Outset, We Found That The Appeal Of The Assessee Is Delayed By 10 Days. In This Regard, The Assessee Has Filed Condonation Of Application Along With Affidavit Stating Sufficient Reasons For Condonation Of Delay, Which Are Not Found To Be False. Ld. Sr. Dr Did Not Object To Condone The Delay. Accordingly, We Condone The Delay Of 10 Days Delay & Proceed To Dispose Off The Appeal. 3. The Ld. Ar During The Course Of Hearing Submitted A Chart Stating Therein The Surviving Period Of Notice Issued U/S.148 Of The Act & Submitted That As Per The Decision Of The Hon’Ble Supreme Court In The Case

Section 151(2) has extended time till 31 March 2021 to grant approval; 4 f. The directions in Ashish Agarwal (supra) will extend to all the ninety thousand reassessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

31, though did not agree, however, in the same\npara, has held that under these circumstances on account of non-\nissuance of notice u/s.8B or Section 8C of the Commissions Inquiry\nAct, 1952, the report given by the Shah Commission was vitiated and,\ntherefore, the foundation of the writ petition filed by the Common\nCause was taken away. Going

SANKAR PATRO,GANJAM vs. INCOME TAX OFFICER, WARD-1, BERHAMPUR

In the result, appeal of the assessee is allowed

Bench: SHRI GEORGE MATHAN (Judicial Member), SHRI RAJESH KUMAR (Accountant Member)

Section 151(2) has extended time till 31 March 2021 to grant approval; f. The directions in Ashish Agarwal (supra) will extend to all the ninety thousand reassessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

31, though did not agree, however, in the same\npara, has held that under these circumstances on account of non-\nissuance of notice u/s.8B or Section 8C of the Commissions Inquiry\nAct, 1952, the report given by the Shah Commission was vitiated and,\ntherefore, the foundation of the writ petition filed by the Common\nCause was taken away. Going

DEPUTY COMMISSIONER OF INCOME TAX, CENTAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

31, though did not agree, however, in the same\npara, has held that under these circumstances on account of non-\nissuance of notice u/s.8B or Section 8C of the Commissions Inquiry\nAct, 1952, the report given by the Shah Commission was vitiated and,\ntherefore, the foundation of the writ petition filed by the Common\nCause was taken away. Going

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, SAMBALPUR vs. SMT. INDRANI PATNAIK, ROURKELA

In the result, all the four appeals of the Revenue are dismissed

2 provides that the Central\nGovernment may notify in the official gazette from time to time, the\nAccounting Standard required to be followed by any class of Assessee\nin respect of any class of income. Thus, it indicates that income has\nto be computed in accordance with the method of accountancy\nfollowed by an Assessee i.e. cash or mercantile, such

M/S. BAJRANGBALI STEEL INDUSTRIES PVT. LTD,ROURKLA vs. ACIT, CENTRAL CIRCLE, SAMBALPUR

In the result, appeals of the assessee in IT(SS)A No

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ (तऱाशियाां और अशिग्रहण)/It(Ss)A Nos.31 To 33/Ctk/2022 (ननधाारण वषा / Assessment Year : 2016-2017 To 2018-2019) M/S Bee Pee Rollers Pvt. Ltd., Vs Acit, Central Circle, Sambalpur Lal Building, Kachery Road, Rourkela, Sundergarh, Odisha-769012 Pan No. :Aabcb 3593 P & आयकर अऩीऱ (तऱाशियाां और अशिग्रहण)/It(Ss)A Nos.34 To 39/Ctk/2022 & आयकर अऩीऱ/Ita No.109/Ctk/2022 (ननधाारण वषा / Assessment Year : 2014-2017 To 2020-2021) M/S Bajrangbali Steel Industries Pvt. Vs Acit, Central Circle, Sambalpur Ltd., Lal Building, Kachery Road, Rourkela, Sundergarh, Odisha-769012 Pan No. :Aabcb 3594 L & आयकर अऩीऱ (तऱाशियाां और अशिग्रहण)/It(Ss)A Nos.40 To 44/Ctk/2022 (ननधाारण वषा / Assessment Year : 2014-2015 To 2018-2019) M/S Bajrangbali Re-Rollers Pvt. Ltd. Vs Acit, Central Circle, Sambalpur Lal Building, Kachery Road, Rourkela, Sundergarh, Odisha-769012 Pan No. :Aaccb 6678 A (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate With Shri B.K. Tibrewal, Ca & Ms. Nisha Rachh, Ca Shri M.K.Gautam, Pr.Cit(Osd) राजस्व की ओर से /Revenue By : सुनवाई की तारीख / Date Of Hearing : 28/03/2023 घोषणा की तारीख/Date Of Pronouncement : 28/03/2023

reassessed in the order under section 153A of the Act and the Section applies notwithstanding sections 139, 147, 148, 149, 151 and 153 of the Act". v.) The Hon'ble Allahabad High Court in the case of Savesh Kumar Agarwal vs. Union of India (35 taxmann.com 85) held in para-22 & 23 that the question which now called for consideration

SHREE DEOSHARWALI OIL INDUSTRIES,GOVINDPUR vs. INCOME TAX OFFICER WARD BARGARH, BSF NAGAR

In the result, appeal of the assessee stands allowed

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2018-2019 2019 Shree Shree Deosharwali Deosharwali Oil Oil Vs. Income Tax Officer, Ward Income Tax Officer, Ward Industries, Industries, Salepali Salepali Bargarh, Bsf Nagar. Nh Bargarh, Bsf Nagar. Nh Govindpur, Bargarh Govindpur, Bargarh Street, Bandu Vikira Chowk, Street, Bandu Vikira Chowk, 1St Floor, Bargarh Floor, Bargarh Pan/Gir No Pan/Gir No.Acbfs 4179 D (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Sunil Surana, Ca Sunil Surana, Ca Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 29/0 07/2024 Date Of Pronouncement : 29/0 /07/2024 O R D E R Per Bench

reassessment is bad in law. 2. For that the ld CIT(A) erred in confirming the action of reopening when notice u/s.148A(b) is bad in law since it provided less than 7 days to comply and therefore, the entire assessment is bad in law. 3. For that the ld CIT(A) erred in confirming the action of reopening when

ASHA DIDWANIA,BHADRAK vs. ASSESSMENT UNIT, NATIONAL FACELESS ASSESSMENT CENTRE(NFAC), DELHI, DELHI

In the result, both appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.128& 129/Ctk/2024 (ननधाारण वषा / Assessment Year : 2014-2015 & 2012-2013) Smt. Asha Didwania, Vs Assessment Unit, National Matrumandir, Near Hp Petrol Faceless Assessment Centre Pump, Charampa, Bhadrak (Nfac), Delhi Pan No. :Aoopd 2243 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri P.K.Mishra, Advocate राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 20/05/2024 घोषणा की तारीख/Date Of Pronouncement : 20/05/2024

reassessment order was passed by applying profit rate of 2.3% on the undisclosed bank deposits by treating the same as business turnover. Against the quantum order, the assessee opted for Vivad Se Vishwas Scheme and settled the dispute. However, in the assessment order the AO has initiated the penalty proceedings u/s.271B of the Act for failure to get accounts audited

ASHA DIDWANIA,BHADRAK vs. ASSESSMENT UNIT, NATIONAL FACELESS ASSESSMENT CENTRE, DELHI, DELHI

In the result, both appeals of the assessee are allowed

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.128& 129/Ctk/2024 (ननधाारण वषा / Assessment Year : 2014-2015 & 2012-2013) Smt. Asha Didwania, Vs Assessment Unit, National Matrumandir, Near Hp Petrol Faceless Assessment Centre Pump, Charampa, Bhadrak (Nfac), Delhi Pan No. :Aoopd 2243 Q (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri P.K.Mishra, Advocate राजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 20/05/2024 घोषणा की तारीख/Date Of Pronouncement : 20/05/2024

reassessment order was passed by applying profit rate of 2.3% on the undisclosed bank deposits by treating the same as business turnover. Against the quantum order, the assessee opted for Vivad Se Vishwas Scheme and settled the dispute. However, in the assessment order the AO has initiated the penalty proceedings u/s.271B of the Act for failure to get accounts audited