DCIT, CORPORATE CIRCLE-1(1), BHUBANESWAR vs. M/S. MAGNUM TELESOFT PVT. LTD., BHUBANESWAR

In the result, appeal of the revenue is dismissed

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.82/Ctk/2016 ("नधा"रण वष" / Assessment Year :2010-2011) Dcit, Corporate Circle-1(1), Vs. M/S Magnum Telesoft Bhubaneswar Pvt. Ltd., 132-A, Sector- A, Zone-A, Mancheswar Industrial Estate, Bhubaneswar-10 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadca 1519 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. राज"व क" ओर से /Revenue By : Shri D.K.Pradhan,Citdr "नधा"रती क" ओर से /Assessee By : Shri P.R.Mohanty & M.Ganesh, Ar सुनवाई क" तार"ख / Date Of Hearing : 10/08/2017 घोषणा क" तार"ख/Date Of Pronouncement 16/08/2017 आदेश / O R D E R Per Shri Pavan Kumar Gadale, Jm: The Revenue Has Filed An Appeal Against The Order Of Cit(A)-1, Bhubaneswar, Passed In Itappeal No.0542/2014-15, Dated 3.12.2015, U/S.143(3) Of The Income Tax Act, Wherein The Revenue Has Raised The Following Grounds :- 1 On The Facts & In The Circumstances Of The Case, The Ld.Cit(A) Is Not Justified In Law As Well As On Facts In Deleting The Addition Of Rs.48,07,984/- Made By The Ao U/S.68 On Account Of Unsecured Loan. 2. On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Has Erred In Law In Not Accepting The Examination Of Findings Made By The Ao On The Issue. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Medical Transcription & Filed The Return Of Income Electronically For The Assessment Year 2010-2011 On 10.03.2011 With Total