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194 results for “section 68”+ Section 20(3)clear

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Key Topics

Addition to Income72Section 801A63Section 143(3)46Disallowance42Deduction41Section 4035Section 26333Section 6832Section 142(1)26Section 147

TRIJAL ENTERPRISES,BHUBANESWAR vs. ACIT, CIRCLE- 4(1), BHUBANESWAR

ITA 185/CTK/2020[2016-17]Status: DisposedITAT Cuttack15 Nov 2022AY 2016-17

Bench: S/Shri George Mathan & Arun Khodpiaassessment Year : 2016-17 Trijal Enterprises, Hall No.6, Vs. Acit, Circle-4(1), Fourth Floor, Bmc Bhawani Bhubaneswar Coom. Complex, Saheed Nagar, Bhubaneswar. Pan/Gir No.Aakft 6687 L (Appellant) .. ( Respondent) Assessee By : Shri P.K.Mishra,Ca P.K.Panda, Ars Revenue By : Shri M.K.Gautam, Cit Dr Date Of Hearing : 15/11/2022 Date Of Pronouncement : 15/11/2022 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A)-1, Bhubaneswar Dated 22.6.2020 In Appeal No.0366/2018-19 For The Assessment Year 2016-17. 2. It Was Submitted By Ld Ar That The Assessee Is A Partnership Firm. The Partnership Firm Was Originally Constituted By Partnership Deed Dated 1.11.2015, Wherein, There Were Two Partners Namely; Shri Rajesh Polaki & Sri Malchit Chetan Kumar Patra. The Said Partnership Did Not Do Any Business. The Partnership Was Constituted For The Purpose Of Doing The Business Of Gold Jewellery. The Partnership Was Reconstituted On 1.3.2016, P A G E 1 | 37 Assessment Year : 2016-17

For Appellant: Shri P.K.Mishra,CA P.K.Panda, ARsFor Respondent: Shri M.K.Gautam, CIT DR
Section 131Section 133(6)Section 143(1)Section 68

section 68 which could be referred to as its undisclosed income”. He further relied on the decision of the Hon’ble Allahabad High Court in the case of 221 ITR 239 (All), wherein, it has been held that “whether where deposits had been made by partners on very first day when partnership firm came into existence, onus

Showing 1–20 of 194 · Page 1 of 10

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26
Section 194A18
TDS13

INCOME TAX OFFICER, WARD-1, BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL CO-OPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

ITA 84/CTK/2024[2015-16]Status: DisposedITAT Cuttack19 Jun 2024AY 2015-16

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

For Appellant: Shri Ambika Prasad Mohanty, CAFor Respondent: Shri Sanjay Kumar, CIT DR/S.C.Mohanty, Sr DR
Section 194ASection 194A(3)Section 40

3) of the Act. 14. In the grounds of appeal, the revenue has challenged the action of the ld CIT(A) in deleting the addition of Rs.2,53,96,000/- made by the Assessing Officer under the head “unexplained money” u/s.69A of the Act. 15. Brief facts of the case are that during the year under appeal, the assessee bank

INCOME TAX OFFICER, WARD-1, BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL CO-OPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

ITA 89/CTK/2024[2015-16]Status: DisposedITAT Cuttack19 Jun 2024AY 2015-16

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

For Appellant: Shri Ambika Prasad Mohanty, CAFor Respondent: Shri Sanjay Kumar, CIT DR/S.C.Mohanty, Sr DR
Section 194ASection 194A(3)Section 40

3) of the Act. 14. In the grounds of appeal, the revenue has challenged the action of the ld CIT(A) in deleting the addition of Rs.2,53,96,000/- made by the Assessing Officer under the head “unexplained money” u/s.69A of the Act. 15. Brief facts of the case are that during the year under appeal, the assessee bank

INCOME TAX OFFICER, BARIPADA vs. MAYURBHANJ CENTRAL COOPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

ITA 62/CTK/2024[2017-18]Status: DisposedITAT Cuttack19 Jun 2024AY 2017-18

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

For Appellant: Shri Ambika Prasad Mohanty, CAFor Respondent: Shri Sanjay Kumar, CIT DR/S.C.Mohanty, Sr DR
Section 194ASection 194A(3)Section 40

3) of the Act. 14. In the grounds of appeal, the revenue has challenged the action of the ld CIT(A) in deleting the addition of Rs.2,53,96,000/- made by the Assessing Officer under the head “unexplained money” u/s.69A of the Act. 15. Brief facts of the case are that during the year under appeal, the assessee bank

INCOME TAX OFFICER WARD-1, BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL COOPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

ITA 82/CTK/2024[2017-18]Status: DisposedITAT Cuttack19 Jun 2024AY 2017-18

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

For Appellant: Shri Ambika Prasad Mohanty, CAFor Respondent: Shri Sanjay Kumar, CIT DR/S.C.Mohanty, Sr DR
Section 194ASection 194A(3)Section 40

3) of the Act. 14. In the grounds of appeal, the revenue has challenged the action of the ld CIT(A) in deleting the addition of Rs.2,53,96,000/- made by the Assessing Officer under the head “unexplained money” u/s.69A of the Act. 15. Brief facts of the case are that during the year under appeal, the assessee bank

INCOME TAX OFFICER WARD-1 BARIPADA, BARIPADA vs. MAYURBHANJ CENTRAL COOPERATIVE BANK LIMITED, BARIPADA

In the result, appeal of the Revenue stands partly allowed for statistical purposes

ITA 78/CTK/2024[2014-15]Status: DisposedITAT Cuttack19 Jun 2024AY 2014-15

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwal

For Appellant: Shri Ambika Prasad Mohanty, CAFor Respondent: Shri Sanjay Kumar, CIT DR/S.C.Mohanty, Sr DR
Section 194ASection 194A(3)Section 40

3) of the Act. 14. In the grounds of appeal, the revenue has challenged the action of the ld CIT(A) in deleting the addition of Rs.2,53,96,000/- made by the Assessing Officer under the head “unexplained money” u/s.69A of the Act. 15. Brief facts of the case are that during the year under appeal, the assessee bank

TARINI MINERALS PVT. LTD.,ROURKELA vs. ACIT, ROURKELA

In the result, appeal of the assessee is allowed

ITA 197/CTK/2019[2012-13]Status: DisposedITAT Cuttack28 Jan 2021AY 2012-13

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2012-13

For Appellant: Shri S.C.Bhadra, ARFor Respondent: Shri Subhendu Dutta, DR
Section 14A

20 12- 13 without recording dissatisfaction having regard to the accounts of the assessee about the claim of the assessee that no expenditure has been incurred for earning exempt income, on assumption only, the disallowance u/s.14A of the Act r.w Rule 8D of the Rules, it is not correct and sustainable and the AO was not correct in making addition

DCIT, BERHAMPUR CIRCLE, BERHAMPUR vs. ALLIED INFRA SUPPLIERS, GANJAM

In the result, cross objection of the assessee is partly

ITA 481/CTK/2017[2012-13]Status: DisposedITAT Cuttack16 Nov 2018AY 2012-13

Bench: S/Shri N.S Saini & Pavan Kumar Gadaleassessment Year :2012-2013 C.O.No.42/Ctk/2018

For Appellant: Shri P.K.Mishra, AdvFor Respondent: Shri S.M.Keshkamat, CIT DR

68,27,315.48 From the above recasted balance sheet, It is seen that the liabilities side of the balance sheet is less by Rs.1,83,89,574.48 P a g e 4 | 18 ITA No 481/CT K/ 2017 C.O. No. 42/CT K/ 2018 Asse ssment Year :20 12- 201 3 than the assets side which represents the undisclosed investments

PURNA CHANDRA BISWAL,JAJPUR vs. PRINCIPAL CIT, CUTTACK

In the result, appeal of the assessee is partly allowed

ITA 200/CTK/2018[2013-14]Status: DisposedITAT Cuttack15 Nov 2019AY 2013-14

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.200/Ctk/2018 (नििाारण वषा / Assessment Year :2013-2014) Sri Purna Chandra Biswal, Vs. Principal Cit, Cuttack Jakhapura, Jajpur-755019 स्थायी लेखा सं./Panno. : Aclpb 1493 P (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri S.K.Sarangi, Ar िाजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr

For Appellant: Shri S.K.Sarangi, ARFor Respondent: Shri S.M.Keshkamat, CITDR
Section 143(3)Section 144Section 145Section 145(3)Section 263Section 44ASection 68

3) wherever the payment were in excess of Rs. 20,000/. Therefore sundry creditors cannot be said to be bogus and no addition can be made as bogus creditors. It is further submitted that even if it is presumed that there were unconfirmed creditors, then whether the provision of section 68

ARSS INFRASTRUCTURE PROJECTS LTD.,BHUBANESWAR vs. DCIT, CORPORATION CIRCLE- 1(1), BHUBANESWAR

In the result, appeal of the assessee is partly allowed

ITA 109/CTK/2020[2012-13]Status: DisposedITAT Cuttack21 Jan 2021AY 2012-13

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2012-2013

For Appellant: Shri P.S.Panda/Kamal Agarwal, ARFor Respondent: Shri M.K.Gautam, CIT DR
Section 40Section 43B

68,34,000/- towards interest expenses, out of which, following interest claimed as expenses were not deposited before due date of filing the return of income: Sl.No. Name of the bank Interest (Rs.) 1. IDBI Bank (OD) 7,29,844 2. IDBI Bank(Escrow) 1,64,376 3. SBI, Jajpur 6,46,001 4. Export Import Bank

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

ITA 123/CTK/2023[2014-15]Status: HeardITAT Cuttack07 Aug 2023AY 2014-15

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

For Appellant: Shri Samir Ranjan DashFor Respondent: Shri S.C.Mohanty
Section 143(3)Section 80C

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

ITA 122/CTK/2023[2013-14]Status: HeardITAT Cuttack07 Aug 2023AY 2013-14

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

For Appellant: Shri Samir Ranjan DashFor Respondent: Shri S.C.Mohanty
Section 143(3)Section 80C

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

ITA 121/CTK/2023[2012-13]Status: HeardITAT Cuttack07 Aug 2023AY 2012-13

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

For Appellant: Shri Samir Ranjan DashFor Respondent: Shri S.C.Mohanty
Section 143(3)Section 80C

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

MR. TAPAN KUMAR BHUYAN,SALEPUR vs. ITO, WARD-1(1), CUTTACK

In the result, appeals of the assessee stands partly allowed for statistical purposes

ITA 120/CTK/2023[2011-12]Status: HeardITAT Cuttack07 Aug 2023AY 2011-12

Bench: Before Shri George Mathan, Judicialita Nos.120 To 123/Ctk/20 /Ctk/2023 Assessment Years : 2011-12 To 2014 12 To 2014-15 Mr Tapan Kumar Bhuyan, Mr Tapan Kumar Bhuyan, Vs. Income Ta Income Tax Officer, Ward- Chandradeipur, Chandradeipur, Salepur, Salepur, 1(1), Cuttack Cuttack Pan/Gir No. Pan/Gir No.Adopb 5206 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Samir Ranjan Dash Dash, Ar Revenue By : Shri S.C.Mohanty : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 07/08 8/2023 Date Of Pronouncement : 07/0 /08/2023 O R D E R These Are These Are Appeals Filed By The Assessee Against The Filed By The Assessee Against The Separate Orders Of Of The The Ld Ld Cit(A) Cit(A), Nfac, Delhi All Dated10.01.2023 10.01.2023 In Appeal No.Itba/Nfac/S/250/2022 Itba/Nfac/S/250/2022-23/1048586596(1),Itba/Nfac/S/250/2022 23/1048586596(1),Itba/Nfac/S/250/2022- 23/1048587277(1),Itba/Nfac/S/250/2022 23/1048587277(1),Itba/Nfac/S/250/2022-23/104858788161) 23/104858788161) & Itba/Nfac/S/250/2022 C/S/250/2022-23/1048588097(1) For The Assessment Years 2011 23/1048588097(1) For The Assessment Years 2011- 12 To 2014-15, Respectively. 15, Respectively.

For Appellant: Shri Samir Ranjan DashFor Respondent: Shri S.C.Mohanty
Section 143(3)Section 80C

68 years, lives in a remote village Chandeipur about 20 KM from Salipur.The learned first appellate authority (NFAC), Delhi without considering the true facts of the matter, available documents, corresponding settled position of law etc., failed to apply his adjudicating skill and dismissed the appeal vide order dated. 10-01-2023. such order passed by the authority with a clear

DCIT (EXEMPTIONS), BHUBANESWAR vs. M/S. S.M.CHARITABLE EDUCATIONAL TRUST, BHUBANESWAR

In the result, appeals of the revenue are dismissed

ITA 432/CTK/2017[2011-12]Status: DisposedITAT Cuttack28 Aug 2018AY 2011-12

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

For Appellant: Sri Bibekananda Mohanty, ARFor Respondent: Shri A.K.Mohapatra, CIT DR
Section 11Section 11(3)Section 12ASection 13Section 13(1)Section 13(1)(c)Section 143(2)Section 143(3)

3) of section 13. Hence, payment of honorarium to H.N. Mudali attracts the provisions of section 13(1)(c). Therefore, Rs.1,02,600/ is added back to total income, being misapplication of the trust fund. (iii) Donation:- During the year under consideration the trust incurred expense of Rs.11,20,000/- towards Donation & Subscription. On perusal of ledger copy

DCIT (EXEMPTIONS), BHUBANESWAR vs. M/S. S.M.CHARITABLE EDUCATIONAL TRUST, BHUBANESWAR

In the result, appeals of the revenue are dismissed

ITA 430/CTK/2017[2009-10]Status: DisposedITAT Cuttack28 Aug 2018AY 2009-10

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

For Appellant: Sri Bibekananda Mohanty, ARFor Respondent: Shri A.K.Mohapatra, CIT DR
Section 11Section 11(3)Section 12ASection 13Section 13(1)Section 13(1)(c)Section 143(2)Section 143(3)

3) of section 13. Hence, payment of honorarium to H.N. Mudali attracts the provisions of section 13(1)(c). Therefore, Rs.1,02,600/ is added back to total income, being misapplication of the trust fund. (iii) Donation:- During the year under consideration the trust incurred expense of Rs.11,20,000/- towards Donation & Subscription. On perusal of ledger copy

DCIT (EXEMPTIONS), BHUBANESWAR vs. M/S. S.M.CHARITABLE EDUCATIONAL TRUST, BHUBANESWAR

In the result, appeals of the revenue are dismissed

ITA 431/CTK/2017[2009-10]Status: DisposedITAT Cuttack28 Aug 2018AY 2009-10

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

For Appellant: Sri Bibekananda Mohanty, ARFor Respondent: Shri A.K.Mohapatra, CIT DR
Section 11Section 11(3)Section 12ASection 13Section 13(1)Section 13(1)(c)Section 143(2)Section 143(3)

3) of section 13. Hence, payment of honorarium to H.N. Mudali attracts the provisions of section 13(1)(c). Therefore, Rs.1,02,600/ is added back to total income, being misapplication of the trust fund. (iii) Donation:- During the year under consideration the trust incurred expense of Rs.11,20,000/- towards Donation & Subscription. On perusal of ledger copy

M/S. ALTRADE MINERALS PVT. LIMITED,ROURKELA vs. ACIT,CENTRAL CIRCLE, SAMBALPUR, SAMBALPUR

In the result, appeal of the assessee is partly allowed

ITA 65/CTK/2023[2011-12]Status: DisposedITAT Cuttack16 Dec 2024AY 2011-12

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

For Appellant: Shri M.R.Sahu, CAFor Respondent: Shri S.C.Mohanty, Sr DR
Section 120(4)(b)Section 127Section 143(2)Section 143(3)Section 14A

Section 14A of the Income-tax Act, 1961 Expenditure incurred in relation to exempt income not includible in total income (General) - Assessee- scheduled banks earned income from investments made in tax-free securities Assessing Officer made proportionate disallowance of interest attributable to funds invested to earn tax free income under section 14A on grounds that separate accounts were

ACIT, RORUKELA CIRCLE, ROURKELA vs. INDRANI PATNAIK, ROURKELA

In the result, appeals of the revenue for assessment years 2012-13 &

ITA 389/CTK/2017[2012-13]Status: DisposedITAT Cuttack25 Aug 2020AY 2012-13

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

For Appellant: Shri S.C.Bhadra, CAFor Respondent: Shri M.K.Gautam,, CIT DR

3. The brief facts of the case are that the Assessing Officer observed that during the year under consideration, the assessee has shown turnover of Rs.458,16,44,870/- as against turnover shown in the preceding year at Rs.260,77,44,068/. He also observed that the gross profit for the year under consideration was shown

INDRANI PATNAIK,ROURKELA vs. DCIT, RORUKELA CIRCLE, ROURKELA

In the result, appeals of the revenue for assessment years 2012-13 &

ITA 393/CTK/2017[2012-13]Status: DisposedITAT Cuttack25 Aug 2020AY 2012-13

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

For Appellant: Shri S.C.Bhadra, CAFor Respondent: Shri M.K.Gautam,, CIT DR

3. The brief facts of the case are that the Assessing Officer observed that during the year under consideration, the assessee has shown turnover of Rs.458,16,44,870/- as against turnover shown in the preceding year at Rs.260,77,44,068/. He also observed that the gross profit for the year under consideration was shown