INDIAN METALS AND FERRO ALLOYS LTD,BHUBANESWAR vs. DCIT, CIRCLE-1(1), BHUBANESWAR

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

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

2. That on the facts and circumstances of the case & in law, the order passed under section 92CA(3) of the Act by Ld. Deputy Commissioner of Income Tax, Transfer Pricing-1, Kolkata (Ld. TPO') on September 12, 2023, proposing a downward adjustment of Rs. 182,23,39,293, which was subsequently approved by the Ld. DRP vide directions dated

ITO, ANGUL WARD, , ANGUL vs. M/S. NCC SMASL JRT(JV),, ANGUL

transfer the entire sale proceeds to AE to ensure lowest sale price to MC. The assessee failed to justify the rationality of the approach since, the ultimate sale price to MCL is not linked with the cost of either assessee or AE in the entire scheme of arrangement. Further, the assessee's contention that the income of the assessee

ITO, ANGUL WARD, ANGUL vs. NCC-SMASL-JRT(JV), ANGUL

transfer the entire sale proceeds to AE to ensure lowest sale price to MC. The assessee failed to justify the rationality of the approach since, the ultimate sale price to MCL is not linked with the cost of either assessee or AE in the entire scheme of arrangement. Further, the assessee's contention that the income of the assessee

LALIT KUMAR JALAN,JALAN PHARMACEUTICALS vs. ITO WARD-1(1), CUTTACK

In the result, appeal of the assessee is allowed with the directions

price more than the value determined by the stamp authorities. Since till date no report is submitted nor any time limit is provided in section 50C of the Act, assessee should not be punished for such an inordinate delay of almost 4 years which is solely attributable to the valuation officer and is beyond the control of the assessee

MAHANADI COALFIELDS LTD.,SAMBALPUR vs. DCIT, CIRCLE-2(1), SAMBALPUR

In the result, appeal of the assessee is partly allowed for

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.174/Ctk/2018 (नििाारण वषा / Assessment Year : 2015 - 2016) Mahanadi Coalfields Ltd., Vs. Dcit, Circle-2(1), Sambalpur Jagriti Vihar, Burla, Sambalpur स्थायी ऱेखा सं./Pan No. : Aabcm 5188 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.S.Podar, Ca राजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr सुनवाई की तारीख / Date Of Hearing : 15/01/2020 घोषणा की तारीख/Date Of Pronouncement : 05/06/2020 आदेश / O R D E R Per L.P.Sahu, Am :

143(3) of the 1. T. Act, 1961 was completed vide order dated 31.12.2017 in which the Ld. AO assessed the total income at Rs. 789323.30 Lacs by making substantial additions/disallowances and raising a further tax demand of Rs. 196731.20 Lakhs including interest of Rs. 30349.26 Lakhs u/s, 234B. Subsequently, vide order u/s.154/143(3) dated 31.01.2018 the assessed income

ACIT,CIRCLE-1(1), SAMBALPUR, SAMBALPUR vs. M/S. TRL KROSAKI REFRACTORIES LIMITED, JHARSUGUDHA

In the result, appeals of the revenue for the assessment years 2010-

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No.260 260/Ctk/2020: Assessment Year Assessment Year :2010-2011

2 | 17 M/s. TRL Krosaki Refractories Ltd., Belpahar, Jharsuguda 5. ITA No.264/CTK/2020 is filed by the revenue against the order of the ld CIT(A), Cuttack dated 21.9.2020 in Appeal No.405056741210218 in the matter of assessment under section 143(3) r.w.s 92CA of the Act for the assessment year 2014-15. C.O. No.13 is filed by the assessee in revenue

ACIT,CIRCLE-1(1), SAMBALPUR vs. M/S. TRL KROSAKI REFRACTORIES LIMITED, JHARASUGUDHA

In the result, appeals of the revenue for the assessment years 2010-

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No.260 260/Ctk/2020: Assessment Year Assessment Year :2010-2011

2 | 17 M/s. TRL Krosaki Refractories Ltd., Belpahar, Jharsuguda 5. ITA No.264/CTK/2020 is filed by the revenue against the order of the ld CIT(A), Cuttack dated 21.9.2020 in Appeal No.405056741210218 in the matter of assessment under section 143(3) r.w.s 92CA of the Act for the assessment year 2014-15. C.O. No.13 is filed by the assessee in revenue

ACIT,CIRCLE-1(1),, SAMBALPUR vs. M/S. TRL KROSAKI REFRACTORIES LIMITED, JHARSUGUDHA

In the result, appeals of the revenue for the assessment years 2010-

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No.260 260/Ctk/2020: Assessment Year Assessment Year :2010-2011

2 | 17 M/s. TRL Krosaki Refractories Ltd., Belpahar, Jharsuguda 5. ITA No.264/CTK/2020 is filed by the revenue against the order of the ld CIT(A), Cuttack dated 21.9.2020 in Appeal No.405056741210218 in the matter of assessment under section 143(3) r.w.s 92CA of the Act for the assessment year 2014-15. C.O. No.13 is filed by the assessee in revenue

ACIT,CIRCLE-1(!), SAMBALPUR vs. M/S. TRL KROSAKI REFRACTORIES LIMITED, JHARSUGUDHA

In the result, appeals of the revenue for the assessment years 2010-

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No.260 260/Ctk/2020: Assessment Year Assessment Year :2010-2011

2 | 17 M/s. TRL Krosaki Refractories Ltd., Belpahar, Jharsuguda 5. ITA No.264/CTK/2020 is filed by the revenue against the order of the ld CIT(A), Cuttack dated 21.9.2020 in Appeal No.405056741210218 in the matter of assessment under section 143(3) r.w.s 92CA of the Act for the assessment year 2014-15. C.O. No.13 is filed by the assessee in revenue

ACIT(CIRCLE-1(1),, SAMBALPUR vs. M/S. TRL KROSAKI REFRACTORIES LIMITED, JHARSUGUDHA

In the result, appeals of the revenue for the assessment years 2010-

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita No.260 260/Ctk/2020: Assessment Year Assessment Year :2010-2011

2 | 17 M/s. TRL Krosaki Refractories Ltd., Belpahar, Jharsuguda 5. ITA No.264/CTK/2020 is filed by the revenue against the order of the ld CIT(A), Cuttack dated 21.9.2020 in Appeal No.405056741210218 in the matter of assessment under section 143(3) r.w.s 92CA of the Act for the assessment year 2014-15. C.O. No.13 is filed by the assessee in revenue

UDAYKUMAR VYAS,NAGPUR vs. ITO WARD 1 (5), BSNL RTTC BUILDING

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Shri Khettra Mohan Royudaykumar Vyas, Ito, Ward – 1(5) Flat No. 402, Lepresting Vs Nagpur Apartment, Plot No. 105- 106, Ramdaspeth, Nagpur. Pan : Aarpv 4578 K Assessee Respondent

price. 3. The appellant craves leave to add, alter, amend, or withdraw any of the above grounds of appeal before or at the time of hearing. 3. Brief facts of the case are that assessee is an individual, engaged in the business of land development and plot trading, filed his return of income for AY 2013-14 declaring total income

SHREE BALAJI ENGICONS PVT. LTD,JHARSUGUDA vs. PRINCIPAL CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

section 80-IA(4) of the Act in respect of the development of eligible infrastructural facilities. 41 ITA Nos.193-195/CTK/2019 19. Ld. AR also pointed out that the assessee was assigned full responsibility to do all acts for execution and completion of work right from the beginning till handing over of the project to the contractee. The contract

M/S- RAWAT BALAJI (JOINT VENTURE),JHARSUGUDA vs. PRILNCIPAL, CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

section 80-IA(4) of the Act in respect of the development of eligible infrastructural facilities. 41 ITA Nos.193-195/CTK/2019 19. Ld. AR also pointed out that the assessee was assigned full responsibility to do all acts for execution and completion of work right from the beginning till handing over of the project to the contractee. The contract

M/S- SBEP-GRIL(JOINT VENTURE),JHARSUGUDA vs. PRINCIPAL CIT, SAMBALPUR

In the result, appeal of the assessee in ITA No

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

section 80-IA(4) of the Act in respect of the development of eligible infrastructural facilities. 41 ITA Nos.193-195/CTK/2019 19. Ld. AR also pointed out that the assessee was assigned full responsibility to do all acts for execution and completion of work right from the beginning till handing over of the project to the contractee. The contract

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

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

price and credited to the said fund were first liable to be used in adjusting the losses of the respondent society in the working year; thereafter in the repayment of initial loan from the Industrial Finance Corporation of India and then for redeeming the Government share and only in the event of any balance being left, it was liable

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

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

price and credited to the said fund were first liable to be used in adjusting the losses of the respondent society in the working year; thereafter in the repayment of initial loan from the Industrial Finance Corporation of India and then for redeeming the Government share and only in the event of any balance being left, it was liable

M/S. SKM-UMSL JV,BHUBANESWAR vs. ITO, WARD-4(3), BHUBANESWAR

In the result, appeal of the assessee is allowed

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.229/Ctk/2019 (नििाारण वषा / Assessment Year : 2014 - 2015) M/S Skm-Umsl Jv, Vs. Ito, Ward-4(3), At-Imfa Building, Bomikhal, Bhubaneswar Rasulgarh, Bhubaneswar स्थायी ऱेखा सं./Pan No. : Aajas 2542 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.K.Jena, Advocate राजस्व की ओर से /Revenue By : Shri Subhendu Dutta, Dr सुनवाई की तारीख / Date Of Hearing : 28/01/2020 घोषणा की तारीख/Date Of Pronouncement : 17/02/2020 आदेश / O R D E R Per L.P.Sahu, Am : This Is An Appeal Filed By The Assessee Against Order Of Cit(A)-2, Bhubaneswar, Dated 18.04.2019 For The Assessment Year 2014-2015, On The Following Grounds :- A. For That The Learned Assessing Officer (Ld. Ao) Has Initiated Penalty Proceeding On The Behest Of Ld. Dcit (Tp)-Ii, Kolkata U/S.271Ba Of The Income Tax Act, 1961 (Act) In The Assessment Order Dated29.12.2017 Passed U/S. 143(3) Of The Act . The Impugned Order Of Imposing Penalty U/S.271Ba Of Act Has Been Passed On 25.06.2018 By The Ld. A.O Without Affording Reasonable Opportunity To The Appellant & Without Exercising His Discretion As Vested By The Statute. However Without Adjudicating The Appeal Despite The Fact That The Particular Provision Of Specified Domestic Transaction Has Been Omitted From Statute By The Finance Act, 2017 The Ld. Cit (A) Is Erred In Upholding The Penalty Order. Therefore Orders Of Forum Below Are Unsustainable & Impermissible Under Law.

143(3) of the Act . The impugned order of imposing penalty u/s.271BA of Act has been passed on 25.06.2018 by the Ld. A.O without affording reasonable opportunity to the appellant and without exercising his discretion as vested by the statute. However without adjudicating the appeal despite the fact that the particular provision of specified domestic transaction has been omitted from

M/S. SHREE BALAJI ENGICONS PVT. LTD.,BELPAHAR, JHARSUGUDA vs. DCIT, CENTRAL CIRCLE-1(1), SAMBALPUR, SAMBALPUR

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

Bench: Shri George Mathan & Shri Manish Agarwalit(Ss)A No.77/Ctk/2023

price in respect of work executed by it and incurred various expenses for carrying out the work awarded to the joint venture. Therefore, the resultant profit earned by the appellant from carrying out these projects on behalf of the joint ventures is also eligible for deduction under section 80-IA of the Act. 3.11) The appellant in the above paras