ACIT, BHUBANESWAR vs. M/S. NEELACHAL GRAMYA BANK, BHUBANESWAR

In the result, appeal filed by the revenue and cross objection

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

20 08- 09 Tax, Circle 2(2), Bhubaneswar (in short "A0'7 "ACIT") has issued notice u/s 148 of the I.T. Act, alleging escapement of income and in compliance thereto the assessee stated that that the Return filed u/s. 139 of the Act be treated as return u/s. 148 of the Act. 10. Subsequent to the aforesaid return u/s

M/S BSN JOSHI & SONS LTD,KHURDA vs. ACIT, BHUBANESWAR

In the result, appeal filed by the assessee is allowed

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2003-2004

section 147 could be taken against the assessee. P a g e 9 | 10 ITA No.0 6/CTK /2 011 Assessm ent Y ear : 20 03- 04 16. In view of foregoing discussion and from the above facts of the case and following the decisions quoted above, we are of the considered view that the reassessment order u/s

ACIT, BHUBANESWAR vs. INDIAN METALS & FERRO ALLOYS LTD, BHUBANESWAR

In the result, the appeals of the assessee are allowed and the

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

u/s 147 of the I.T Act ,1961" 17. A perusal of the recorded reasons shows that nowhere it records any fresh tangible information, which came to the notice of the Assessing Officer after completion of assessment under section 143(3) on 30.12.2009 for the assessment year 2007-08 and on 29.12.2010 for the assessment year 2008-09 and before recording

INDIAN METALS AND FERRO ALLOY LTD,BHUBANESWAR vs. ACIT, BHUBANESWAR

In the result, the appeals of the assessee are allowed and the

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

u/s 147 of the I.T Act ,1961" 17. A perusal of the recorded reasons shows that nowhere it records any fresh tangible information, which came to the notice of the Assessing Officer after completion of assessment under section 143(3) on 30.12.2009 for the assessment year 2007-08 and on 29.12.2010 for the assessment year 2008-09 and before recording

INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF ORISSA LTD.,BHUBANESWAR vs. DCIT, CORPORATE CIRCLE-1(1), BHUBANESWAR

In the result, appeal filed by the assessee is allowed and that of the

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2010-2011

section 147 which makes the existence of failure on the part of the assessee to disclose fully & truly all material facts necessary for his assessment as a precondition for initiation of reassessment proceeding, is not applicable. The AO has recorded reasons before initiation of reassessment proceeding u/s. 147 and communicated the same to the assessee. Keeping in view the facts

ITO, KHURDA vs. BULARAM DALAI, KHURDA

In the result, appeal of the Revenue is dismissed

u/s. 143(3) of the Act is not sustainable under the law and the reopening is held to be bad in law. To the same effect is the decision of Hon’ble Bombay High Court in the case of Purity Teck Textiles Pvt. Ltd. Vs. ACIT, 325 ITR 459 (Bombay). The Hon’ble Delhi High Court in the case

SULTAN ENTERPRISES PVT. LTD,,SUNDARPADA, BHUBANESWAR vs. PR. CIT-1, BHUBANESWAR

In the result appeal of the assessee in ITA No

Bench: Before S/Shri George Mathan, Judicial & And Ramit Kocharassessment Year : 2015-16 Sultan Enterprises Pvt Ltd., Sultan Enterprises Pvt Ltd., Vs. Pr. Cit, Bhubaneswar Pr. Cit, Bhubaneswar-1 At:Plot No.161, Azad Nagar, At:Plot No.161, Azad Nagar, Sundarpada, Bhubaneswar. Sundarpada, Bhubaneswar. Pan/Gir No. Pan/Gir No.Aascs 1016 R (Appellant (Appellant) .. ( Respondent Respondent)

u/s 148 after 01.04.2021. There was P a g e 16 | 20 Assessment Year : 2015-16 amendment by Finance Act, 2021 in Section 148, the pre-existing sections 147 to 151 had been repealed and replaced by new provisions. The validity of the reassessment

ROLAND EDUCATIONAL & CHARITABLE TRUST,BERHAMPUR vs. DCIT, BERHAMPUR CIRCLE, BERHAMPUR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND EDUCATIONAL & CHARITABLE TRUST,BERHAMPUR vs. DCIT, BERHAMPUR CIRCLE, BERHAMPUR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND EDUCATIONAL & CHARITABLE TRUST,BERHAMPUR vs. DCIT, BERHAMPUR CIRCLE, BERHAMPUR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

RONALD EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND INSTITUTE OF PHARMACEUTICAL SCIENCES,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control

ROLAND EDUCATIONAL & CHARITABLE TRUST,GANJAM vs. CHEIF CIT, BHUBANESWAR

Appeals are allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

20: The Permanent Trustees may appoint THREE more Trustees of their choice £0 function as co-trustees and their tenure of office shall be not more than two 'ears from the date of appointment unless they are re- nominated for further period Clause 21: The temporary Co-managing Trustee will exercise their duties as co-trustees subject to the control